3732 Giorgio Dr

Winter Haven, FL 33884

$250,000D

3 bd · 2.0 ba · 1,713 sqft · Built 2024 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,072/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$640
• HOA: −$15
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-330/mo
• Annual: $-3,955/yr
• Cap rate: 4.71%
• Cash-on-cash: -5.65%
• DSCR: 0.75
• 1% rule: 0.83%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $250k. Condition is rated good.
• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (17.1% below list).
• It's been on market 108 days — a 9% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (23.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#291 in FL, #4,898 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, amenities F, commute F.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chain of Lakes Elementary School (math 63% / reading 60%, grade B, #634 of 2,144 statewide, top 30%, 1,130 students, 37% FRL); Denison Middle School (math 24% / reading 25%, grade F, #522 of 571 statewide, top 93%, 738 students, 69% FRL); Lake Region High School (math 14% / reading 22%, grade F, #570 of 667 statewide, top 86%, 1,545 students, 61% FRL) — zoned schools at 56% FRL track the district average.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: Rents rising (+1.9%/yr); 842 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 35% of the median local income ($70k/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 108 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.