475 Pine Loop

Frostproof, FL 33843

$109,000D

2 bd · 2.0 ba · 396 sqft · Built 1996 · Manufactured · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$572
• Tax + insurance: −$175
• HOA: −$206
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-83/mo
• Annual: $-992/yr
• Cap rate: 5.38%
• Cash-on-cash: -3.25%
• DSCR: 0.86
• 1% rule: 1.01%
• Cash to close: $30,520

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $109k.
• At list price, monthly cash flow is $-83 ($-992/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (13.4% below list).
• Meets the 1% rule at list price ($1k rent vs $109k).
• It's been on market 73 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (13.4% below list) — sets the bar for cash-flow.
• In year one you build about $23 of equity ($754 loan paydown + $-731 appreciation (-0.7% local appreciation)).
• Location reads 69/100 on livability (#456 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• 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.
• Market conditions: 437 active listings in the ZIP; 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.
• 5 sale attempts since 16y 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 $74k; 48% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 73 days. Have you received any prior offers? Is the seller open to a 13% 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?
• 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.