1315 E Benbow Cir

Port LaBelle, FL 33935

$239,900C-

3 bd · 3.0 ba · 1,507 sqft · Built 2023 · SingleFamily · Pending · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,136/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$581
• HOA: −$0
• Vac / Maint / Mgmt: −$449
• Net cashflow: $-152/mo
• Annual: $-1,823/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• 1% rule: 0.89%
• Cash to close: $67,172

Investor read

• This is a 3-bed/3.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (11.0% below list).
• It's been on market 115 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $213k (11.2% below list) — sets the bar for cash-flow.
• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#750 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Glades (town): math 38% / reading 41% proficiency, ranked #63 of 73 in FL (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 942 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 65 units permitted in Glades County in 2024 (0 in 5+ unit buildings).
• Glades County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $70k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$41k 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; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 45% of the median local income ($57k/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?
• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 11% 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 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.