3990 NE 113th Ln

Jasper, FL 32052

$145,000C-

3 bd · 1.0 ba · 1,339 sqft · Built 1970 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,190/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $82/mo
• Annual: $989/yr
• Cap rate: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• 1% rule: 0.82%
• Cash to close: $40,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $82 ($989/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 $119k (17.9% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $119k (17.9% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.7% local appreciation)).
• Location reads 63/100 on livability (#731 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety D, amenities F, commute F.
• Hamilton (rural): math 34% / reading 29% proficiency, ranked #68 of 73 in FL (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hamilton County High School (math 27% / reading 27%, grade F, #478 of 667 statewide, top 73%, 859 students, 76% FRL) — zoned schools at 76% FRL track the district average.
• Market conditions: 85 active listings in the ZIP; 26 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).
• Hamilton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $60k; list at $145k implies a 142% gain — meaningful room to come down on a strong offer.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 3.4% in Jasper — 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

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.