5913 Topher Trl Unit A

Fuller Heights, FL 33860

$134,999D+

2 bd · 2.0 ba · 1,053 sqft · Built 2000 · Condo · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,719/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$202
• HOA: −$369
• Vac / Maint / Mgmt: −$361
• Net cashflow: $79/mo
• Annual: $948/yr
• Cap rate: 7.00%
• Cash-on-cash: 2.51%
• DSCR: 1.11
• 1% rule: 1.27%
• Cash to close: $37,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $135k.
• At list price, monthly cash flow is $79 ($948/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#720 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: amenities F, commute F, health & safety D-.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: James W. Sikes Elementary School (math 39% / reading 41%, grade F, #1,491 of 2,144 statewide, top 70%, 563 students, 37% FRL); Mulberry Senior High School (math 21% / reading 36%, grade F, #458 of 667 statewide, top 69%, 1,315 students, 57% FRL).
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents rising (+1.6%/yr); 180 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.