7601 Canada Ave #325

Orlando, FL 32819

$124,000D

1 bd · 1.0 ba · 466 sqft · Built 1999 · Condo · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,728/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$180
• HOA: −$619
• Vac / Maint / Mgmt: −$363
• Net cashflow: $-84/mo
• Annual: $-1,006/yr
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• 1% rule: 1.39%
• Cash to close: $34,720

Investor read

• This is a 1-bed/1.0-bath condo listed at $124k.
• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (11.9% below list).
• Meets the 1% rule at list price ($2k rent vs $124k).
• It's been on market 50 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (11.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tangelo Park Elementary (math 17% / reading 17%, grade F, #2,121 of 2,144 statewide, top 99%, 457 students, 83% FRL); Southwest Middle (math 49% / reading 53%, grade C, #237 of 571 statewide, top 43%, 1,385 students, 40% FRL); Dr. Phillips High (math 21% / reading 49%, grade F, #379 of 667 statewide, top 58%, 3,202 students, 44% FRL) — zoned schools at 55% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 36% of rent.
• Market conditions: Rents rising (+1.7%/yr); 321 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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 $106k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 5.5% vs local median 3.0% in Orlando — 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.

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 50 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.