6022 Blue Paloma Ct

Memphis, FL 34221

$326,140D+

4 bd · 2.0 ba · 1,936 sqft · Built 2026 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,778/mo
• Mortgage (P&I): −$1,710
• Tax + insurance: −$544
• HOA: −$0
• Vac / Maint / Mgmt: −$583
• Net cashflow: $-59/mo
• Annual: $-711/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $91,319

Investor read

• This is a 4-bed/2.0-bath single-family listed at $326k. Condition is rated good.
• At list price, monthly cash flow is $-59 ($-711/yr) — negative.
• To cash-flow at today's rent, offer at most $318k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (14.8% below list).
• It's been on market 21 days — a 2% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (14.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#745 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-3.0%/yr); 1160 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.1% vs local median 4.5% in Memphis — 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 43% of the median local income ($78k/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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.