1030 Plantation Dr Unit C7

Kissimmee, FL 34741

$175,000D-

2 bd · 2.0 ba · 970 sqft · Built 1970 · Condo · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,640/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$120
• HOA: −$288
• Vac / Maint / Mgmt: −$344
• Net cashflow: $-30/mo
• Annual: $-360/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• 1% rule: 0.94%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.0-bath condo listed at $175k.
• At list price, monthly cash flow is $-30 ($-360/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (6.3% below list).
• It's been on market 100 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• 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 77/100 on livability (#181 in FL, #2,841 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Osceola (suburban): math 39% / reading 45% proficiency, ranked #60 of 73 in FL (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thacker Avenue Elementary For International Studies (math 36% / reading 36%, grade F, #1,670 of 2,144 statewide, top 78%, 639 students, 67% FRL); Kissimmee Middle School (math 28% / reading 31%, grade F, #469 of 571 statewide, top 84%, 1,289 students, 59% FRL); Osceola County School For The Arts (math 81% / reading 87%, grade A, #11 of 667 statewide, top 2%, 970 students, 41% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents soft (-1.4%/yr); 378 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 8,813 units permitted in Osceola County in 2024 (3,072 in 5+ unit buildings).
• Osceola County population projected at +73% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 12y 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 $55k; list at $175k implies a 218% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.5% in Kissimmee — 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 38% of the median local income ($52k/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 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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 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?