10108 SW 139th Ct

On Top of the World, FL 34432

$209,900D

3 bd · 2.0 ba · 1,232 sqft · Built 2026 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,789/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$350
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $-38/mo
• Annual: $-451/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $58,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $210k. Condition is rated good.
• At list price, monthly cash flow is $-38 ($-451/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (14.8% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $179k (14.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 556 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 2.9% in On Top of the World — 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.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.