6358 Sanders Grove Cir

Leesburg, FL 34762

$305,000D-

3 bd · 2.0 ba · 1,690 sqft · Built 2023 · SingleFamily · Pending · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,166/mo
• Mortgage (P&I): −$1,599
• Tax + insurance: −$457
• HOA: −$62
• Vac / Maint / Mgmt: −$455
• Net cashflow: $-407/mo
• Annual: $-4,887/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.72%
• DSCR: 0.75
• 1% rule: 0.71%
• Cash to close: $85,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $305k.
• At list price, monthly cash flow is $-407 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (29.0% below list).
• It's been on market 50 days — a 3% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $217k (29.0% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.9% local appreciation)).
• Location reads 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y 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.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 50 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.