2149 Sandalwood Pl

The Villages, FL 32163

$369,900D

3 bd · 2.0 ba · 1,357 sqft · Built 2013 · SingleFamily · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,822/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$593
• Net cashflow: $-187/mo
• Annual: $-2,248/yr
• Cap rate: 5.69%
• Cash-on-cash: -2.17%
• DSCR: 0.90
• 1% rule: 0.76%
• Cash to close: $103,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $370k.
• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $337k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (23.7% below list).
• It's been on market 121 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $282k (23.7% below list) — sets the bar for 1% rule.
• In year one you build about $40k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#431 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, employment B+; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Wildwood Elementary School (math 49% / reading 52%, grade D+, #1,055 of 2,144 statewide, top 50%, 940 students, 76% FRL); Wildwood Middle/ High School (math 29% / reading 41%, grade F, #379 of 667 statewide, top 58%, 843 students, 63% FRL) — zoned schools average 69% FRL vs 51% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 43% at this address vs 61% district-wide (-18 pts) — the specific schools serving this property underperform the Sumter average; the district grade overstates school quality for this exact location.
• Market conditions: 265 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 2 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• This rent runs 35% of the median local income ($97k/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 121 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.