256 Spindlewood Blvd

Dundee, FL 33838

$292,490D-

3 bd · 2.0 ba · 1,250 sqft · Built 2026 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,971/mo
• Mortgage (P&I): −$1,534
• Tax + insurance: −$487
• HOA: −$65
• Vac / Maint / Mgmt: −$414
• Net cashflow: $-529/mo
• Annual: $-6,349/yr
• Cap rate: 4.12%
• Cash-on-cash: -7.75%
• DSCR: 0.66
• 1% rule: 0.67%
• Cash to close: $81,897

Investor read

• This is a 3-bed/2.0-bath single-family listed at $292k.
• At list price, monthly cash flow is $-529 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (26.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (32.6% below list).
• It's been on market 90 days — a 6% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $197k (32.6% below list) — sets the bar for 1% rule.
• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#638 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment 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.
• Zoned schools: Dundee Elementary Academy (math 51% / reading 56%, grade C, #949 of 2,144 statewide, top 45%, 653 students, 47% FRL); Haines City Senior High School (math 12% / reading 32%, grade F, #544 of 667 statewide, top 82%, 2,700 students, 58% FRL).
• Market conditions: 149 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 7 sale attempts; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• By year 2, paydown + projected appreciation supports a ~$50k 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; moderate wildfire risk; extreme-heat days projected 7→23/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 90 days. Have you received any prior offers? Is the seller open to a 33% 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.