746 NE Michigan Ct #1 · St. Cloud, FL 34769

$110,000

2 bd · 1.0 ba · 784 sqft · Condo public records · 72 Days on market

Built 1972 $300/mo HOA · 20% of rent

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Why this score? — see what drove the C- 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 +19.4/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +3.6/10.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. New Listing Price $110,000 – Motivated Seller! Move-in ready 2-bedroom, 1-bath condo offering 784 sq ft of comfortable living space at 746 Michigan Ct, Apt 1 in Saint Cloud. This updated unit features ceramic tile flooring throughout, a modern kitchen with stylish finishes, and a fully renovated bathroom. New windows recently installed, providing excellent natural light and improved energy efficiency. Located in a quiet, well-maintained community close to schools, shopping, dining, and major roadways. Ideal as a primary residence or investment opportunity. Schedule your showing today!

Key facts

• Close to schools
• Modern kitchen
• New windows

Tags

• CERAMIC TILE FLOORING
• MODERN KITCHEN
• FULLY RENOVATED BATHROOM
• NEW WINDOWS
• QUIET COMMUNITY
• CLOSE TO SCHOOLS

Property features AI

Finance

• Financial info: Total monthly fees: $300; Total annual fees: $3,600; Lease restrictions apply
• HOA & community: Monthly condo/association fee: $300 (includes water and trash); Association name: Palm Gardens/ Wanda; Association approval required; Deed restrictions; Sidewalks in community; Cats and dogs allowed

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; Residential property; One story; Faces north; First floor unit
• Construction: Block and stucco construction; Shingle roof; Block foundation; Built as part of a building (building number 1)
• Exterior features: Exterior lighting; Sidewalk

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Outdoor laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.0% in St. Cloud — 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.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Osceola (suburban): math 39% / reading 45% proficiency, ranked #60 of 73 in FL (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Michigan Avenue Elementary School (math 51% / reading 49%, grade D+, #1,070 of 2,144 statewide, top 51%, 807 students, 43% FRL); St. Cloud High School (math 32% / reading 50%, grade F, #289 of 667 statewide, top 44%, 2,264 students, 51% FRL).
• Market conditions: Rents rising (+1.4%/yr); 258 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,813 units permitted in Osceola County in 2024 (3,072 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Osceola County population projected at +73% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $110k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.35% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.60×
• Total profit: $-12,257
• Equity at exit: $16,401

10-year hold

• IRR: -5.2%
• Equity multiple: 0.69×
• Total profit: $-9,462
• Equity at exit: $9,511

Cash invested: $30,800 (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 34769

• Home prices YoY: -24.6%
• Rents YoY: 1.4%
• Active inventory: 258
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$577
• Tax from tax record: −$131 /mo · $1,569/yr
• Insurance: −$46
• HOA: −$300
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $122

Break-even live

Break-even rent $1,333

Max offer price $110,000

Occupancy floor 87%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
733 Michigan Ct St Cloud, FL	2.0	1.0	784	$1,295	$1.65	23d	1	0.03mi
731 Michigan Ct St Cloud, FL	2.0	1.0	784	$1,350	$1.72	7d	1	0.04mi
736 Michigan Ct #4 Saint Cloud, FL	2.0	1.0	784	$1,300	$1.66	12d	1	0.04mi
698 Michigan Ct #1 Saint Cloud, FL	2.0	1.0	784	$1,225	$1.56	21d	1	0.07mi
720 Michigan Ct #2 Saint Cloud, FL	2.0	1.0	784	$1,199	$1.53	23d	1	0.10mi
720 Michigan Ct #4 Saint Cloud, FL	2.0	1.0	784	$1,295	$1.65	23d	1	0.10mi
714 Michigan Ct #4 Saint Cloud, FL	2.0	1.0	784	$1,350	$1.72	16d	1	0.12mi
715 Michigan Ct #3 Saint Cloud, FL	2.0	1.0	784	$1,300	$1.66	23d	1	0.12mi
712 Michigan Ct #3 Saint Cloud, FL	2.0	1.0	900	$1,600	$1.78	3d	1	0.12mi
1400 Carolina Ave Saint Cloud, FL	2.0	1.5	920	$1,495	$1.62	23d	1	0.45mi
1818 Minnesota Ave Unit B St Cloud, FL	1.0	1.5	700	$1,600	$2.29	23d	1	0.64mi
1007 Florida Ave Saint Cloud, FL	1.0–2.0	1.0	800	$1,350	$1.69	16d	2	0.70mi
1022 Oregon Ave Saint Cloud, FL	2.0	2.0	768	$1,700	$2.21	7d	1	0.75mi
1871 Cactus Ct Saint Cloud, FL	3.0	2.0	900	$1,400	$1.56	17d	1	0.79mi
91 10th St Unit 91 St Cloud, FL	2.0	1.0	1000	$1,700	$1.70	23d	1	0.80mi
821 Pennsylvania Ave Saint Cloud, FL	3.0	1.0	1048	$1,695	$1.62	7d	1	0.81mi
610 Carolina Ave Saint Cloud, FL	2.0	1.0	1015	$2,500	$2.46	23d	1	0.92mi
706 New York Ave Saint Cloud, FL	1.0	1.0	750	$1,425	$1.90	23d	1	0.94mi
616 Massachusetts Ave Unit A St Cloud, FL	2.0	1.0	900	$999	$1.11	21d	1	1.01mi
616 Massachusetts Ave Unit A St Cloud, FL	2.0	1.0	900	$999	$1.11	23d	1	1.01mi
1400 Dakota Ave Saint Cloud, FL	2.0	1.0	690	$1,650	$2.39	23d	1	1.11mi
9 E 5th St St Cloud, FL	3.0	2.0	1110	$1,495	$1.35	23d	1	1.12mi
608 Missouri Ave Saint Cloud, FL	2.0	1.0	956	$1,395	$1.46	3d	1	1.18mi
2400 16th St Saint Cloud, FL	3.0	2.0	1040	$1,799	$1.73	17d	1	1.20mi
517 Jersey Ave Saint Cloud, FL	1.0	1.0	600	$1,250	$2.08	7d	1	1.29mi
1423 Montana Ave Saint Cloud, FL	3.0	2.0	1062	$1,895	$1.78	12d	1	1.45mi
1423 Montana Ave Unit 1423 St Cloud, FL	3.0	2.0	1062	$1,895	$1.78	14d	1	1.45mi
607 Alabama Ave Saint Cloud, FL	2.0	2.0	952	$2,000	$2.10	14d	1	1.45mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   remarks 631-char remark
2. 2026-06-18
   status $110,000 Pending 72 DOM
3. 2026-06-18
   days on market $110,000 Active 72 DOM
4. 2026-06-17
   days on market $110,000 Active 71 DOM
5. 2026-06-16
   days on market $110,000 Active 70 DOM
6. 2026-06-15
   days on market $110,000 Active 69 DOM
7. 2026-06-13
   remarks 591-char remark
8. 2026-06-13
   pricedays on market $110,000 Active 67 DOM
9. 2026-06-13
   days on market $123,000 Active 66 DOM
10. 2026-06-09
    days on market $123,000 Active 63 DOM
11. 2026-06-08
    days on market $123,000 Active 62 DOM
12. 2026-06-07
    days on market $123,000 Active 61 DOM
13. 2026-06-04
    days on market $123,000 Active 58 DOM
14. 2026-06-03
    days on market $123,000 Active 57 DOM
15. 2026-06-02
    days on market $123,000 Active 56 DOM
16. 2026-06-02
    days on market $123,000 Active 55 DOM
17. 2026-05-31
    days on market $123,000 Active 54 DOM
18. 2026-04-07
    listed $123,000 Active
19. 1992-10-30
    soldstatus $40,000

ⓘ 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: $1,569 · $131/mo
• Projected year-2 tax: $1,569 · $131/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 5/10 Major
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,861
• − Mortgage interest: −$6,162
• − Property taxes: −$1,569
• − Insurance: −$550
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − HOA: −$3,600
• − Depreciation: −$3,200
• Taxable loss: −$78
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $1,488/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: Osceola
• NCES district ID: 1201470
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $45,528
• Composite: 35.7/100
• National rank: #4865
• State rank: #60 of 73 in FL

Livability — St. Cloud

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Cloud, FL
• County: Osceola County · 410,217 people
• City population: 29,247
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 30,204
• Household income: $67,148
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1138.0

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 447,624 people
• By 2030: 511,823 · +14.3%
• By 2040: 642,986 · +43.6%
• By 2050: 774,552 · +73.0%
• By 2075: 1,078,144 · +140.9%
• By 2100: 1,269,660 · +183.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Hispanic / Latino 38% Two or more races 17% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 21% Dominican 5%
• Common ancestry: Romanian 3% Lithuanian 3% Russian 2%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 66% English-only · Spanish 31% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Osceola

• 2024 margin: Toss-up / Even · D 48.7% · R 50.2% · Other 1.1%
• 2008→2024 swing: -21.2pp toward R · 2008: 19.7pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+13.8 2016: D+25.0 2012: D+24.5 2008: D+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.08%
• Current HPI: 324.6715
• Rent YoY: ▲ 1.35%
• 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

+207.5% since first listed

2 events — show timeline

• 2026-04-07 Listed $123,000 Stellar MLS as Distributed by MLS Grid
• 1992-10-30 Sold (Public Records) $40,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,569 · +0.3% YoY. Source: county tax records.