7749 Center St

Gardner, FL 33890

$113,000D-

2 bd · 2.0 ba · 1,029 sqft · Built 1999 · Manufactured · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,032/mo
• Mortgage (P&I): −$593
• Tax + insurance: −$171
• HOA: −$148
• Vac / Maint / Mgmt: −$217
• Net cashflow: $-96/mo
• Annual: $-1,152/yr
• Cap rate: 5.27%
• Cash-on-cash: -3.64%
• DSCR: 0.84
• 1% rule: 0.91%
• Cash to close: $31,640

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $113k.
• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (8.7% below list).
• It's been on market 48 days — a 3% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (15.0% below list) — sets the bar for cash-flow.
• In year one you build about $1k of equity ($781 loan paydown + $484 appreciation (0.4% local appreciation)).
• Location reads 61/100 on livability (#773 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools C-, crime D+, amenities F.
• Hardee (town): math 46% / reading 46% proficiency, ranked #50 of 73 in FL (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 53 active listings in the ZIP; 123 units permitted in Hardee County in 2024 (22 in 5+ unit buildings).
• Hardee County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $58k; list at $113k implies a 97% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 48 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.