2233 Silver Pines Pl #506 · Pine Hills, FL 32808

$99,900

2 bd · 2.0 ba · 1,097 sqft · Condo public records · 250 Days on market

Built 1972 $520/mo HOA · 31% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

LIGHT HANDY-MAN SPECIAL. UNIT IS A 2BEDROOM/2 BATHROOM WITH 1,097 SQFT. CALL WITH ANY QUESTIONS.

Key facts

• $520 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Property type: P-D zoning; Living area about 1,097 (from public records); Lot roughly 0.03 acres
• HOA & community: Monthly HOA fee of $520.44 (includes pool, trash, and other services); Association: ODIN PROPERTY MANAGEMENT; Association fee required; Pets allowed: cats and dogs; Total annual fees: $6,245.28

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Other utilities
• Home design: Residential condominium; Fixer condition; One story; Faces southeast; Entry level: 1
• Construction: Block and stucco construction; Shingle and other roof types; Slab foundation; Built as unit number 506
• Exterior features: Other exterior features; Asphalt and concrete road surfaces

Interior

• Bedrooms: 2 bedrooms (1st floor)
• Flooring: Ceramic tile; Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features
• Laundry & utility: Laundry area with unspecified/other features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.9% in Pine Hills — 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.

Location & tenants

• Location reads 73/100 on livability (#317 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, employment D, amenities 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: Pine Hills Elementary (math 21% / reading 20%, grade F, #2,094 of 2,144 statewide, top 98%, 669 students, 83% FRL); Meadowbrook Middle (math 24% / reading 24%, grade F, #532 of 571 statewide, top 94%, 957 students, 78% FRL); Maynard Evans High (math 12% / reading 27%, grade F, #562 of 667 statewide, top 85%, 2,417 students, 69% FRL) — zoned schools average 77% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 48% district-wide (-27 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.3%/yr); 251 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $62k; list at $100k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• 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.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.67% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.46×
• Total profit: $-15,236
• Equity at exit: $14,895

10-year hold

• IRR: -21.7%
• Equity multiple: 0.15×
• Total profit: $-23,663
• Equity at exit: $8,638

Cash invested: $27,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32808

• Home prices YoY: -22.6%
• Rents YoY: -0.3%
• Active inventory: 251
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$524
• Tax from tax record: −$148 /mo · $1,778/yr
• Insurance: −$42
• HOA: −$520
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $86

Break-even live

Break-even rent $1,562

Max offer price $99,900

Occupancy floor 90%

Sensitivity live

Price	-10% $143	-5% $114	+0% $86	+5% $58	+10% $30
Rent	-10% $-46	-5% $20	+0% $86	+5% $152	+10% $218
Rate	-1.0pp $136	-0.5pp $112	base $86	+0.5pp $60	+1.0pp $34

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2222 Silver Pines Pl #902 Orlando, FL	3.0	2.5	1472	$1,500	$1.02	9d	1	0.02mi
2203 Silver Pines Pl #601 Orlando, FL	2.0	1.0	962	$1,500	$1.56	25d	1	0.03mi
5402 Pine Chase Dr Orlando, FL	2.0–3.0	2.0	1133	$1,449	$1.28	3d	4	0.12mi
1537 Ridge Pointe Dr Orlando, FL	3.0	2.0	1108	$2,200	$1.99	25d	1	0.23mi
1529 Ridge Pointe Dr Orlando, FL	3.0	2.0	1108	$1,995	$1.80	9d	1	0.24mi
5600 Silver Star Rd Orlando, FL	1.0–3.0	1.0–2.0	850	$1,310	$1.54	16d	6	0.26mi
5505 Hernandes Dr #113 Orlando, FL	2.0	1.0	728	$1,175	$1.61	25d	1	0.28mi
1214 N Pine Hills Rd Unit 2 Orlando, FL	1.0	1.0	868	$2,100	$2.42	22d	1	0.74mi
4919 Erleen Pl Orlando, FL	1.0	1.0	965	$800	$0.83	25d	1	0.79mi
4697 Rose Coral Dr Orlando, FL	2.0	1.0	576	$1,437	$2.49	3d	15	0.82mi
4757 Silver Star Rd Orlando, FL	1.0	1.0	728	$1,189	$1.63	25d	1	0.83mi
4705 Almond Willow Dr Orlando, FL	2.0	2.0	864	$1,600	$1.85	25d	1	0.86mi
1407 Sunridge Rd Orlando, FL	3.0	2.0	1124	$1,945	$1.73	9d	1	0.87mi
2920 Eastern Willow Ave Orlando, FL	2.0	2.0	868	$1,500	$1.73	25d	1	0.88mi
3043 Willow Bend Blvd Orlando, FL	2.0	2.0	900	$1,450	$1.61	25d	1	0.89mi
5249 Champagne Cir Orlando, FL	2.0	2.0	980	$1,795	$1.83	25d	1	0.91mi
4566 Chateau Rd Orlando, FL	3.0	1.5	1377	$1,800	$1.31	25d	1	0.91mi
3071 Willow Bend Blvd Orlando, FL	2.0	2.0	900	$1,525	$1.69	25d	1	0.91mi
2429 Sandy Ln Orlando, FL	3.0	2.0	1418	$2,490	$1.76	23d	1	0.93mi
1020 barnett villas Dr Orlando, FL	1.0–3.0	1.0–2.0	934	$1,439	$1.54	25d	1	0.93mi
2637 Healy Dr Orlando, FL	3.0	1.5	1300	$1,900	$1.46	6d	1	0.97mi
3285 Split Willow Dr Orlando, FL	2.0	1.0	845	$1,400	$1.66	25d	1	0.97mi
4500 Silver Star Rd Orlando, FL	2.0	2.0	1000	$1,309	$1.31	25d	1	1.01mi
3024 N Powers Dr Orlando, FL	1.0–2.0	1.0–2.0	915	$1,470	$1.61	18d	80	1.04mi
6033 Balboa Dr Orlando, FL	3.0	2.0	1269	$2,300	$1.81	23d	1	1.06mi
6408 Sunshine St Orlando, FL	3.0	1.5	1000	$1,900	$1.90	6d	1	1.12mi
6872 Alta Westgate Dr Orlando, FL	2.0–3.0	2.0	1190	$1,466	$1.23	9d	1	1.13mi
520 Hacienda Ct Pine Hills, FL	3.0	1.0	825	$1,850	$2.24	25d	1	1.17mi
4306 Silver Star Rd Orlando, FL	3.0	2.0	1080	$1,800	$1.67	25d	1	1.20mi
812 N Hudson St Pine Hills, FL	2.0	2.0	950	$1,600	$1.68	25d	1	1.45mi

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $99,900 Active 250 DOM
2. 2026-06-18
   days on market $99,900 Active 247 DOM
3. 2026-06-17
   days on market $99,900 Active 246 DOM
4. 2026-06-16
   days on market $99,900 Active 245 DOM
5. 2026-06-15
   days on market $99,900 Active 244 DOM
6. 2026-06-13
   days on market $99,900 Active 242 DOM
7. 2026-06-13
   days on market $99,900 Active 241 DOM
8. 2026-06-09
   days on market $99,900 Active 238 DOM
9. 2026-06-08
   days on market $99,900 Active 237 DOM
10. 2026-06-07
    days on market $99,900 Active 236 DOM
11. 2026-06-04
    days on market $99,900 Active 233 DOM
12. 2026-06-03
    days on market $99,900 Active 232 DOM
13. 2026-06-02
    days on market $99,900 Active 231 DOM
14. 2026-06-02
    days on market $99,900 Active 230 DOM
15. 2026-05-31
    days on market $99,900 Active 229 DOM
16. 2026-01-06
    status Active
17. 2025-12-31
    historical
18. 2025-10-08
    listed $99,900 Active
19. 2025-03-03
    historical
20. 2025-01-23
    listed $105,000 Active
21. 2023-10-17
    historical
22. 2023-09-11
    listed $99,900 Active
23. 2021-08-19
    soldstatus $62,000
24. 2004-01-26
    soldstatus $60,000
25. 1995-05-31
    soldstatus $43,500
26. 1978-07-01
    soldstatus $30,500
27. 1973-06-01
    soldstatus $26,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,778 · $148/mo
• Projected year-2 tax: $1,778 · $148/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,048
• − Mortgage interest: −$5,596
• − Property taxes: −$1,778
• − Insurance: −$500
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − HOA: −$6,240
• − Depreciation: −$2,906
• Taxable loss: −$179
• Est. tax savings @ 24.0%: +$43
• After-tax cash flow: $1,077/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — Pine Hills

• Score: 73/100
• State rank: #317
• US rank: #5362

Category grades

Amenities F Commute A+ Cost of living A+ Crime D+ Employment D Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pine Hills, FL
• County: Orange County · 1,471,359 people
• City population: 60,203
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 60,203
• Household income: $49,700
• Rent vs Own: 58.0% rent · 42.0% own
• Severe rent burden: 4039.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (71%)
• Race & ethnicity: Black 71% Hispanic / Latino 13% White 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Dominican 2%
• Common ancestry: Hispanic 20% Lithuanian 1% Scandinavian 0%
• Foreign-born: 25% · Canada, Vietnam, Jamaica
• Languages at home: 69% English-only · French/Haitian/Cajun 18% Spanish 11% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.15%
• Current HPI: 376.3801
• Rent YoY: ▼ -0.27%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+272.8% since first listed

12 events — show timeline

• 2026-01-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-08 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-01-23 Listed $105,000 Stellar MLS as Distributed by MLS Grid
• 2023-10-17 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-09-11 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2021-08-19 Sold (Public Records) $62,000 Public Records
• 2004-01-26 Sold (Public Records) $60,000 Public Records
• 1995-05-31 Sold (Public Records) $43,500 Public Records
• 1978-07-01 Sold (Public Records) $30,500 Public Records
• 1973-06-01 Sold (Public Records) $26,800 Public Records

Property tax history

+8.3%/yr

Latest (2025): $1,778 · +15.8% YoY. Source: county tax records.