451 C St · Casselberry, FL 32707

$145,000

1 bd · 1.0 ba · 690 sqft · Condo public records · 5 Days on market

Built 1966

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Why this score? — see what drove the D- 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 +8.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +5.1/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

SELLER MAY FINANCE!! Seller motivated. COMPLETELY UPDATED! BEAUTIFUL AND MOVE IN READY!! BOAT DOCK AND STORAGE!!! Great location!

Key facts

• Built 1966
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 5.3% vs local median 4.1% in Casselberry — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#314 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, employment C-, amenities F.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.1%/yr); 186 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $125k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% 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 $145,000

Questions for the listing agent

1. 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?
2. Built in 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.05% ✓
• Cap rate: 5.28%
• Cash-on-cash: -3.62%
• DSCR: 0.84
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.09% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.20×
• Total profit: $-32,446
• Equity at exit: $21,620

10-year hold

• IRR: -21.5%
• Equity multiple: -0.06×
• Total profit: $-42,948
• Equity at exit: $12,537

Cash invested: $40,600 (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 32707

• Rents YoY: 2.1%
• Active inventory: 186
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$760
• Tax from tax record: −$193 /mo · $2,312/yr
• Insurance: −$60
• HOA est. from 1 same-building comp: −$310
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $-122

Break-even live

Break-even rent $1,675

Max offer price $123,392

Occupancy floor —

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Lemon Ln Casselberry, FL	2.0	1.0	572	$1,550	$2.71	18d	1	0.89mi
700 Crestview Dr Casselberry, FL	2.0	1.5	720	$1,550	$2.15	24d	1	1.01mi
1050 S Ronald Reagan Blvd Longwood, FL	3.0	1.0–2.0	1014	$2,210	$2.18	4d	44	1.04mi
400 Sandpiper Ln Casselberry, FL	1.0–3.0	1.0–2.0	937	$1,130	$1.21	3d	11	1.04mi
760 Bayou Dr Casselberry, FL	2.0	1.0	449	$1,100	$2.45	5d	1	1.10mi
1450 Sunshadow Dr Casselberry, FL	1.0–2.0	1.0–2.0	865	$1,236	$1.43	2d	8	1.22mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $145,000 Active 5 DOM
2. 2026-06-17
   days on market $145,000 Active 4 DOM
3. 2026-06-16
   days on market $145,000 Active 3 DOM
4. 2026-06-15
   remarks 130-char remark
5. 2026-06-15
   listed $145,000 Active 2 DOM

ⓘ 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: $2,312 · $193/mo
• Projected year-2 tax: $2,312 · $193/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,246
• − Mortgage interest: −$8,122
• − Property taxes: −$2,312
• − Insurance: −$725
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − HOA: −$3,720
• − Depreciation: −$4,218
• Taxable loss: −$3,771
• Est. tax savings @ 24.0%: +$905
• After-tax cash flow: $-563/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: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Casselberry

• Score: 73/100
• State rank: #314
• US rank: #5320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Casselberry, FL
• County: Seminole County · 436,154 people
• City population: 45,584
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 39,493
• Household income: $69,113
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 1482.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Hispanic / Latino 27% Two or more races 14% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 12% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 3% Romanian 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 18% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.90%
• Current HPI: 342.1006
• Rent YoY: ▲ 2.09%
• 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

+339.4% since first listed

4 events — show timeline

• 2026-06-14 Listed $145,000 FSBO.com
• 2022-10-20 Sold (Public Records) $125,000 Public Records
• 2016-09-12 Sold (Public Records) $53,000 Public Records
• 1983-07-01 Sold (Public Records) $33,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $2,312 · +13.5% YoY. Source: county tax records.