3027 Galaxy Ln

Crystal Lake, FL 33801

$123,900B-

2 bd · 2.0 ba · 1,344 sqft · Built 1983 · Manufactured · Pending · 177 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,673/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$217
• HOA: −$33
• Vac / Maint / Mgmt: −$351
• Net cashflow: $422/mo
• Annual: $5,070/yr
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• 1% rule: 1.35%
• Cash to close: $34,692

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $124k.
• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• It's been on market 177 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• 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 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); Crystal Lake Middle School (math 27% / reading 27%, grade F, #497 of 571 statewide, top 88%, 949 students, 71% FRL); George W. Jenkins Senior High (math 25% / reading 49%, grade F, #340 of 667 statewide, top 52%, 2,451 students, 37% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents rising (+1.1%/yr); 256 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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.
• Current owner paid $53k; list at $124k implies a 134% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 38% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 177 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?
• 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.
• 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.