11307 Boundary Line Rd

Harold, FL 32583

$175,000C

3 bd · 3.0 ba · 1,600 sqft · Built 2007 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,912/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$268
• HOA: −$0
• Vac / Maint / Mgmt: −$402
• Net cashflow: $325/mo
• Annual: $3,901/yr
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• 1% rule: 1.09%
• Cash to close: $49,000

Investor read

• This is a 3-bed/3.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#69 in FL, #1,163 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.5%/yr); 806 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,983 units permitted in Santa Rosa County in 2024 (128 in 5+ unit buildings).
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 11y 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.