5560 Heritage Blvd

Wildwood, FL 34785

$127,600B-

2 bd · 2.0 ba · 910 sqft · Built 1981 · Manufactured · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,654/mo
• Mortgage (P&I): −$669
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$347
• Net cashflow: $536/mo
• Annual: $6,431/yr
• Cap rate: 11.33%
• Cash-on-cash: 18.00%
• DSCR: 1.80
• 1% rule: 1.30%
• Cash to close: $35,728

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $128k.
• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• It's been on market 48 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#471 in FL) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime A-; Watch: schools C-, amenities F, commute F.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 422 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 12y 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 $43k; list at $128k implies a 197% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• 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 11.3% vs local median 3.9% in Wildwood — 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.
• This rent runs 30% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.