3509 Lisa Ln

Crystal Lake, FL 33801

$237,500F

3 bd · 2.0 ba · 1,478 sqft · Built 1972 · SingleFamily · Active · 285 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,769/mo
• Mortgage (P&I): −$1,245
• Tax + insurance: −$350
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $-198/mo
• Annual: $-2,372/yr
• Cap rate: 5.29%
• Cash-on-cash: -3.57%
• DSCR: 0.84
• 1% rule: 0.74%
• Cash to close: $66,500

Investor read

• This is a 3-bed/2.0-bath single-family listed at $238k.
• At list price, monthly cash flow is $-198 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (25.5% below list).
• It's been on market 285 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (25.5% 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 $7k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#620 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment 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: Oscar J. Pope Elementary School (math 32% / reading 27%, grade F, #1,896 of 2,144 statewide, top 90%, 410 students, 65% FRL); George W. Jenkins Senior High (math 25% / reading 49%, grade F, #340 of 667 statewide, top 52%, 2,451 students, 37% FRL).
• Market conditions: Rents rising (+1.1%/yr); 253 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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.
• 8 sale attempts since 7y 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.
• 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.
• This rent runs 40% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 285 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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.
• 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.