719 Michigan Ct #3 · St. Cloud, FL 34769

$130,000

2 bd · 1.0 ba · 784 sqft · Condo public records · 251 Days on market

Built 1972 $350/mo HOA · 23% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

One or more photo(s) has been virtually staged. Nice two bedrooms apartment, GREAT FOR INVESTMENT, RENTAL OR FIRST TIME BUYERS. On second floor, close to major highways. just a short distance from Elementary Middle and High School. Excellent access and close to major supermarkets, banks, shopping and restaurants. Community features swimming pool, clubhouse, playground and laundry room. Some pictures are Virtually staged. equal opportunity housing.

Key facts

• Second floor
• Excellent access
• $350 HOA

Tags

• SECOND FLOOR
• CLOSE TO MAJOR HIGHWAYS
• SHORT DISTANCE FROM SCHOOLS
• EXCELLENT ACCESS
• CLOSE TO MAJOR SUPERMARKETS
• COMMUNITY FEATURES CLUBHOUSE

Property features AI

Finance

• Other: Unfurnished unit; Living area approximately 784 sq ft (public records); Building total area approximately 871 sq ft (public records); Unit located in Building 3; Unit on second floor, unit 3 (Palm Gardens Condo)
• Financial info: Total annual association fees: $4,200; No lease restrictions indicated
• HOA & community: Monthly condo/association fee: $350; Association covers common area taxes and pool; Association approval required; Association name: Miriam Solis; Community clubhouse; Pets allowed

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Residential condominium; One story; Second-floor unit; Faces east
• Construction: Block and stucco construction; Shingle roof; Built on slab foundation
• Exterior features: Other exterior features; Asphalt road access

Interior

• Kitchen: Convection oven; Dishwasher; Disposal; Freezer; Microwave
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Slab foundation
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features; Building has no elevator
• Laundry & utility: Laundry in a common area; Outdoor laundry access

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-37 ($-443/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.0% below list).
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 4.0% in St. Cloud — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Osceola (suburban): math 39% / reading 45% proficiency, ranked #60 of 73 in FL (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.4%/yr); 258 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,813 units permitted in Osceola County in 2024 (3,072 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Osceola County population projected at +73% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $40k; list at $130k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 5.95%
• Cash-on-cash: -1.22%
• DSCR: 0.95
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.35% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.30×
• Total profit: $-25,640
• Equity at exit: $19,383

10-year hold

• IRR: -19.4%
• Equity multiple: 0.06×
• Total profit: $-34,153
• Equity at exit: $11,240

Cash invested: $36,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34769

• Home prices YoY: -24.6%
• Rents YoY: 1.4%
• Active inventory: 258
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,493 high
• Mortgage (P&I): −$682
• Tax from tax record: −$131 /mo · $1,569/yr
• Insurance: −$54
• HOA: −$350
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $-37

Break-even live

Break-even rent $1,540

Max offer price $123,474

Occupancy floor 97%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 Michigan Ct #3 Saint Cloud, FL	2.0	1.0	784	$1,300	$1.66	23d	1	0.03mi
712 Michigan Ct #3 Saint Cloud, FL	2.0	1.0	900	$1,600	$1.78	3d	1	0.04mi
714 Michigan Ct #4 Saint Cloud, FL	2.0	1.0	784	$1,350	$1.72	16d	1	0.04mi
720 Michigan Ct #2 Saint Cloud, FL	2.0	1.0	784	$1,199	$1.53	23d	1	0.05mi
720 Michigan Ct #4 Saint Cloud, FL	2.0	1.0	784	$1,295	$1.65	23d	1	0.05mi
698 Michigan Ct #1 Saint Cloud, FL	2.0	1.0	784	$1,225	$1.56	21d	1	0.06mi
731 Michigan Ct St Cloud, FL	2.0	1.0	784	$1,350	$1.72	7d	1	0.06mi
733 Michigan Ct St Cloud, FL	2.0	1.0	784	$1,295	$1.65	23d	1	0.07mi
736 Michigan Ct #4 Saint Cloud, FL	2.0	1.0	784	$1,300	$1.66	12d	1	0.07mi
1400 Carolina Ave Saint Cloud, FL	2.0	1.5	920	$1,495	$1.62	23d	1	0.43mi
1818 Minnesota Ave Unit B St Cloud, FL	1.0	1.5	700	$1,600	$2.29	23d	1	0.57mi
1007 Florida Ave Saint Cloud, FL	1.0–2.0	1.0	800	$1,350	$1.69	16d	2	0.62mi
821 Pennsylvania Ave Saint Cloud, FL	3.0	1.0	1048	$1,695	$1.62	7d	1	0.72mi
1022 Oregon Ave Saint Cloud, FL	2.0	2.0	768	$1,700	$2.21	7d	1	0.73mi
1871 Cactus Ct Saint Cloud, FL	3.0	2.0	900	$1,400	$1.56	17d	1	0.74mi
91 10th St Unit 91 St Cloud, FL	2.0	1.0	1000	$1,700	$1.70	23d	1	0.79mi
706 New York Ave Saint Cloud, FL	1.0	1.0	750	$1,425	$1.90	23d	1	0.86mi
610 Carolina Ave Saint Cloud, FL	2.0	1.0	1015	$2,500	$2.46	23d	1	0.87mi
616 Massachusetts Ave Unit A St Cloud, FL	2.0	1.0	900	$999	$1.11	21d	1	0.92mi
616 Massachusetts Ave Unit A St Cloud, FL	2.0	1.0	900	$999	$1.11	23d	1	0.92mi
1400 Dakota Ave Saint Cloud, FL	2.0	1.0	690	$1,650	$2.39	23d	1	1.02mi
608 Missouri Ave Saint Cloud, FL	2.0	1.0	956	$1,395	$1.46	3d	1	1.09mi
9 E 5th St St Cloud, FL	3.0	2.0	1110	$1,495	$1.35	23d	1	1.09mi
2400 16th St Saint Cloud, FL	3.0	2.0	1040	$1,799	$1.73	17d	1	1.13mi
517 Jersey Ave Saint Cloud, FL	1.0	1.0	600	$1,250	$2.08	7d	1	1.19mi
607 Alabama Ave Saint Cloud, FL	2.0	2.0	952	$2,000	$2.10	14d	1	1.36mi
1423 Montana Ave Unit 1423 St Cloud, FL	3.0	2.0	1062	$1,895	$1.78	14d	1	1.38mi
1423 Montana Ave Saint Cloud, FL	3.0	2.0	1062	$1,895	$1.78	12d	1	1.38mi
1404 Montana Ave Saint Cloud, FL	2.0	1.5	1000	$1,800	$1.80	23d	1	1.42mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $130,000 Active 251 DOM
2. 2026-06-17
   days on market $130,000 Active 250 DOM
3. 2026-06-16
   days on market $130,000 Active 249 DOM
4. 2026-06-15
   days on market $130,000 Active 248 DOM
5. 2026-06-13
   days on market $130,000 Active 246 DOM
6. 2026-06-13
   days on market $130,000 Active 245 DOM
7. 2026-06-10
   days on market $130,000 Active 242 DOM
8. 2026-06-08
   days on market $130,000 Active 241 DOM
9. 2026-06-07
   days on market $130,000 Active 240 DOM
10. 2026-06-04
    days on market $130,000 Active 237 DOM
11. 2026-06-03
    days on market $130,000 Active 236 DOM
12. 2026-06-02
    days on market $130,000 Active 235 DOM
13. 2026-06-02
    days on market $130,000 Active 234 DOM
14. 2026-05-31
    days on market $130,000 Active 233 DOM
15. 2026-02-25
    historical $1,300
16. 2025-10-10
    listed $130,000 Active
17. 2025-10-08
    listed $1,300
18. 2007-12-13
    listed $72,500
19. 1996-05-17
    soldstatus $40,000
20. 1992-07-21
    soldstatus $40,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,569 · $131/mo
• Projected year-2 tax: $1,569 · $131/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,919
• − Mortgage interest: −$7,282
• − Property taxes: −$1,569
• − Insurance: −$650
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − HOA: −$4,200
• − Depreciation: −$3,782
• Taxable loss: −$2,430
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $140/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Osceola
• NCES district ID: 1201470
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $45,528
• Composite: 35.7/100
• National rank: #4865
• State rank: #60 of 73 in FL

Livability — St. Cloud

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Cloud, FL
• County: Osceola County · 410,217 people
• City population: 29,247
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 30,204
• Household income: $67,148
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1138.0

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 447,624 people
• By 2030: 511,823 · +14.3%
• By 2040: 642,986 · +43.6%
• By 2050: 774,552 · +73.0%
• By 2075: 1,078,144 · +140.9%
• By 2100: 1,269,660 · +183.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Hispanic / Latino 38% Two or more races 17% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 21% Dominican 5%
• Common ancestry: Romanian 3% Lithuanian 3% Russian 2%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 66% English-only · Spanish 31% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Osceola

• 2024 margin: Toss-up / Even · D 48.7% · R 50.2% · Other 1.1%
• 2008→2024 swing: -21.2pp toward R · 2008: 19.7pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+13.8 2016: D+25.0 2012: D+24.5 2008: D+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.08%
• Current HPI: 324.6715
• Rent YoY: ▲ 1.35%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-96.8% since first listed

6 events — show timeline

• 2026-02-25 Rental Removed $1,300 STELLARMLS
• 2025-10-10 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-08 Listed for Rent $1,300 STELLARMLS
• 2007-12-13 Listed $72,500 Stellar MLS as Distributed by MLS Grid
• 1996-05-17 Sold (Public Records) $40,000 Public Records
• 1992-07-21 Sold (Public Records) $40,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,569 · +0.3% YoY. Source: county tax records.