10 Mays St

Plant City, FL 33563

$129,900C+

1 bd · 1.0 ba · 600 sqft · Built 1952 · SingleFamily · Pending · 168 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,380/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $309/mo
• Annual: $3,710/yr
• Cap rate: 9.15%
• Cash-on-cash: 10.20%
• DSCR: 1.45
• 1% rule: 1.06%
• Cash to close: $36,372

Investor read

• This is a 1-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 168 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#227 in FL, #3,587 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bryan Elementary School (math 45% / reading 35%, grade F, #1,491 of 2,144 statewide, top 70%, 653 students, 82% FRL); Tomlin Middle School (math 45% / reading 39%, grade D-, #340 of 571 statewide, top 61%, 1,499 students, 64% FRL); Plant City High School (math 38% / reading 40%, grade F, #312 of 667 statewide, top 48%, 2,474 students, 58% FRL) — zoned schools average 68% FRL vs 52% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.6%/yr); 183 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $58k; list at $130k implies a 124% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.