3280 W Powers Ave

Bell, FL 32619

$269,900D

3 bd · 1.0 ba · 4,519 sqft · Built 1973 · SingleFamily · Active · 218 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,892/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$450
• HOA: −$0
• Vac / Maint / Mgmt: −$397
• Net cashflow: $-371/mo
• Annual: $-4,449/yr
• Cap rate: 4.64%
• Cash-on-cash: -5.89%
• DSCR: 0.74
• 1% rule: 0.70%
• Cash to close: $75,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $-371 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (19.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (29.9% below list).
• It's been on market 218 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (29.9% below list) — sets the bar for 1% rule.
• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#767 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, health & safety D, amenities F.
• Gilchrist (rural): math 66% / reading 61% proficiency, ranked #9 of 73 in FL (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 94 units permitted in Gilchrist County in 2024 (0 in 5+ unit buildings).
• Gilchrist County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 218 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.