12176 Evantide Ave

High Point, FL 34613

$215,000D-

2 bd · 2.0 ba · 1,104 sqft · Built 1984 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,819/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$289
• HOA: −$46
• Vac / Maint / Mgmt: −$382
• Net cashflow: $-25/mo
• Annual: $-301/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• 1% rule: 0.85%
• Cash to close: $60,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $215k.
• At list price, monthly cash flow is $-25 ($-301/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (15.4% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $182k (15.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#677 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pine Grove Elementary School (math 60% / reading 45%, grade C-, #976 of 2,144 statewide, top 46%, 991 students, 60% FRL); Central High School (math 34% / reading 44%, grade F, #312 of 667 statewide, top 48%, 1,426 students, 53% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 691 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 15y 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.
• Current owner paid $177k; 21% 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→25/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 ($59k/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?
• 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.
• 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 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.