2880 Gumbo Limbo Dr

Wimauma, FL 33598

$279,900D

3 bd · 2.0 ba · 1,566 sqft · Built 2023 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,496/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$677
• HOA: −$7
• Vac / Maint / Mgmt: −$524
• Net cashflow: $-180/mo
• Annual: $-2,166/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• 1% rule: 0.89%
• Cash to close: $78,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $280k. Condition is rated good.
• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (10.8% below list).
• It's been on market 22 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (11.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-2.4%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#699 in FL) — a middle-class / working-renter tenant base. Strengths: commute A, cost of living A-, crime B; Watch: amenities F, employment D-, health & safety F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Reddick Elementary School (math 34% / reading 29%, grade F, #1,841 of 2,144 statewide, top 86%, 794 students, 78% FRL); Shields Middle School (math 29% / reading 27%, grade F, #486 of 571 statewide, top 86%, 1,867 students, 68% FRL); Lennard High School (math 30% / reading 46%, grade F, #328 of 667 statewide, top 50%, 2,404 students, 47% FRL).
• Zoned-school proficiency averages 32% at this address vs 48% district-wide (-16 pts) — the specific schools serving this property underperform the Hillsborough average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.5%/yr); 689 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% vs local median 4.5% in Wimauma — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 31% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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.