205 Oakland Ave

Sanford, FL 32773

$269,500D+

3 bd · 1.0 ba · 1,178 sqft · Built 1958 · SingleFamily · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,054/mo
• Mortgage (P&I): −$1,413
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$431
• Net cashflow: $5/mo
• Annual: $62/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• 1% rule: 0.76%
• Cash to close: $75,460

Investor read

• This is a 3-bed/1.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $5 ($62/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 $205k (23.8% below list).
• It's been on market 95 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $205k (23.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#316 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pine Crest Elementary School (math 20% / reading 26%, grade F, #2,070 of 2,144 statewide, top 97%, 701 students, 89% FRL); Greenwood Lakes Middle School (math 49% / reading 55%, grade C+, #217 of 571 statewide, top 40%, 1,000 students, 63% FRL); Lake Mary High School (math 39% / reading 58%, grade D, #198 of 667 statewide, top 30%, 2,684 students, 42% FRL) — zoned schools average 64% FRL vs 38% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 41% at this address vs 59% district-wide (-18 pts) — the specific schools serving this property underperform the Seminole average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.4%/yr); 287 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 9y 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.
• Current owner paid $115k; list at $270k implies a 134% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.6% in Sanford — 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 95 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1958 — 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.
• 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?
• Crime grade is F 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.