1660 Davidson Rd

Clewiston, FL 33440

$145,000D+

3 bd · 1.0 ba · 980 sqft · Built 2005 · Manufactured · Active · 145 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,428/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$260
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $107/mo
• Annual: $1,288/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• 1% rule: 0.98%
• Cash to close: $40,600

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $145k.
• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (1.5% below list).
• It's been on market 145 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 70/100 on livability (#436 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Hendry (town): math 35% / reading 40% proficiency, ranked #65 of 73 in FL (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Central Elementary School (math 56% / reading 44%, grade D+, #1,070 of 2,144 statewide, top 51%, 588 students, 76% FRL); Clewiston Middle School (math 50% / reading 41%, grade D+, #305 of 571 statewide, top 54%, 741 students, 78% FRL); Clewiston High School (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 958 students, 70% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: 407 active listings in the ZIP; 557 units permitted in Hendry County in 2024 (45 in 5+ unit buildings).
• Hendry County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $30k; list at $145k implies a 383% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 4.7% in Clewiston — 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

• It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?