8739 SE 140th Place Rd

Belleview, FL 34491

$241,000D

3 bd · 2.0 ba · 2,046 sqft · Built 1997 · SingleFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,038/mo
• Mortgage (P&I): −$1,264
• Tax + insurance: −$311
• HOA: −$210
• Vac / Maint / Mgmt: −$428
• Net cashflow: $-175/mo
• Annual: $-2,100/yr
• Cap rate: 5.42%
• Cash-on-cash: -3.11%
• DSCR: 0.86
• 1% rule: 0.85%
• Cash to close: $67,480

Investor read

• This is a 3-bed/2.0-bath single-family listed at $241k.
• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (15.4% below list).
• It's been on market 110 days — a 9% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $204k (15.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#458 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harbour View Elementary School (math 41% / reading 38%, grade F, #1,513 of 2,144 statewide, top 73%, 819 students, 71% FRL); Lake Weir Middle School (math 37% / reading 33%, grade F, #416 of 571 statewide, top 74%, 1,207 students, 76% FRL); Lake Weir High School (math 23% / reading 34%, grade F, #458 of 667 statewide, top 69%, 1,483 students, 68% FRL).
• Market conditions: 713 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $207k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 37% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 15% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?