5981 Windhover Dr Unit A10

Orlando, FL 32819

$125,800D+

1 bd · 1.0 ba · 591 sqft · Built 1974 · Condo · Active · 127 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,560/mo
• Mortgage (P&I): −$660
• Tax + insurance: −$210
• HOA: −$448
• Vac / Maint / Mgmt: −$328
• Net cashflow: $-85/mo
• Annual: $-1,018/yr
• Cap rate: 5.48%
• Cash-on-cash: -2.89%
• DSCR: 0.87
• 1% rule: 1.24%
• Cash to close: $35,224

Investor read

• This is a 1-bed/1.0-bath condo listed at $126k. Condition is rated average.
• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (9.8% below list).
• Meets the 1% rule at list price ($2k rent vs $126k).
• It's been on market 127 days — a 12% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $870 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Palm Lake Elementary (math 59% / reading 59%, grade B-, #722 of 2,144 statewide, top 34%, 651 students, 48% FRL); Chain of Lakes Middle (math 39% / reading 37%, grade F, #388 of 571 statewide, top 69%, 1,209 students, 46% FRL); Dr. Phillips High (math 21% / reading 49%, grade F, #379 of 667 statewide, top 58%, 3,202 students, 44% FRL).
• Watch-outs: HOA is 29% of rent.
• Market conditions: Rents rising (+1.7%/yr); 424 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.5% vs local median 3.1% in Orlando — 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.

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 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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.
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Exterior siding — Weathered appearance
• Minor: Paint — Slight wear