11759 Paradise Cove Ln

Wellington, FL 33449

$1,289,000D+

6 bd · 3.5 ba · 4,177 sqft · Built 2002 · SingleFamily · Active · 272 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $12,126/mo
• Mortgage (P&I): −$6,760
• Tax + insurance: −$1,382
• HOA: −$410
• Vac / Maint / Mgmt: −$2,547
• Net cashflow: $1,028/mo
• Annual: $12,337/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• 1% rule: 0.94%
• Cash to close: $360,920

Investor read

• This is a 6-bed/3.5-bath single-family listed at $1.29M.
• At list price, monthly cash flow is $1k ($12k/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 $1.21M (5.9% below list).
• It's been on market 272 days — a 12% lower offer ($1.13M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.13M (12.0% below list) — sets the bar for market timing.
• In year one you build about $213 of equity ($9k loan paydown + $-9k appreciation (-0.7% local appreciation)).
• Location reads 73/100 on livability (#294 in FL, #4,986 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 170 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.3% vs local median 3.4% in Wellington — 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 272 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 A-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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?