673 Ruth Ave

Grenelefe, FL 33844

$271,890D

4 bd · 2.0 ba · 1,733 sqft · Built 2026 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,421/mo
• Mortgage (P&I): −$1,426
• Tax + insurance: −$453
• HOA: −$91
• Vac / Maint / Mgmt: −$508
• Net cashflow: $-57/mo
• Annual: $-686/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• 1% rule: 0.89%
• Cash to close: $76,129

Investor read

• This is a 4-bed/2.0-bath single-family listed at $272k. Condition is rated excellent.
• At list price, monthly cash flow is $-57 ($-686/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (10.9% below list).
• It's been on market 21 days — a 2% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (10.9% 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 $8k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#728 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: Rents rising (+1.2%/yr); 1333 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• At $2,421/mo this rent would consume 46% of the median local household income ($64k/yr) (locally 1107% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 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.
• 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.