1248 Caloosa Cove Dr

LaBelle, FL 33935

$365,000D-

4 bd · 2.5 ba · 2,386 sqft · Built 2026 · Land · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,218/mo
• Mortgage (P&I): −$1,914
• Tax + insurance: −$608
• HOA: −$99
• Vac / Maint / Mgmt: −$466
• Net cashflow: $-869/mo
• Annual: $-10,428/yr
• Cap rate: 3.44%
• Cash-on-cash: -10.20%
• DSCR: 0.55
• 1% rule: 0.61%
• Cash to close: $102,200

Investor read

• This is a 4-bed/2.5-bath land listed at $365k.
• At list price, monthly cash flow is $-869 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (34.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (39.2% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $222k (39.2% below list) — sets the bar for 1% rule.
• In year one you build about $39k of equity ($3k loan paydown + $36k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#324 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Hendry (town): math 35% / reading 40% proficiency, ranked #65 of 73 in FL (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Labelle Elementary School (math 37% / reading 37%, grade F, #1,609 of 2,144 statewide, top 77%, 437 students, 77% FRL); Labelle High School (math 42% / reading 41%, grade F, #284 of 667 statewide, top 43%, 1,451 students, 62% FRL).
• Market conditions: 942 active listings in the ZIP; 557 units permitted in Hendry County in 2024 (45 in 5+ unit buildings).
• Hendry County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 3.4% vs local median 4.8% in LaBelle — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $2,218/mo this rent would consume 47% of the median local household income ($57k/yr) (locally 498% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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.