Harper Plan

Ocala, FL 34474

$278,990F

4 bd · 2.0 ba · 1,665 sqft · Built — · SingleFamily · Active · 260 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,096/mo
• Mortgage (P&I): −$1,873
• Tax + insurance: −$595
• HOA: −$0
• Vac / Maint / Mgmt: −$440
• Net cashflow: $-813/mo
• Annual: $-9,754/yr
• Cap rate: 3.56%
• Cash-on-cash: -9.75%
• DSCR: 0.57
• 1% rule: 0.59%
• Cash to close: $100,019

Investor read

• This is a 4-bed/2.0-bath single-family listed at $279k. Condition is rated good.
• At list price, monthly cash flow is $-813 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (24.9% below list).
• It's been on market 260 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $210k (24.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#476 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hammett Bowen Jr. Elementary School (math 56% / reading 56%, grade C+, #832 of 2,144 statewide, top 40%, 867 students, 54% FRL); Liberty Middle School (math 40% / reading 41%, grade F, #360 of 571 statewide, top 64%, 1,365 students, 54% FRL); West Port High School (math 34% / reading 52%, grade F, #255 of 667 statewide, top 39%, 2,906 students, 52% FRL).
• Market conditions: Rents flat; 457 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 32d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent runs 39% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 260 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.