312 E 7th St

Apopka, FL 32703

$175,000C+

3 bd · 1.0 ba · 1,018 sqft · Built 1901 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,011/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$173
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $498/mo
• Annual: $5,972/yr
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• 1% rule: 1.15%
• Cash to close: $49,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#594 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+, employment B; Watch: crime D-, amenities F, commute F.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lovell Elementary (math 34% / reading 32%, grade F, #1,773 of 2,144 statewide, top 83%, 643 students, 76% FRL); Apopka Middle (math 37% / reading 40%, grade F, #384 of 571 statewide, top 68%, 997 students, 56% FRL); Apopka High (math 19% / reading 47%, grade F, #406 of 667 statewide, top 61%, 3,507 students, 42% FRL) — zoned schools at 58% FRL track the district average.
• Zoned-school proficiency averages 35% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-2.8%/yr); 573 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $88k; list at $175k implies a 98% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% vs local median 3.7% in Apopka — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.