1074 Hamlet Dr

Maitland, FL 32751

$308,000F

3 bd · 2.0 ba · 1,076 sqft · Built 1994 · SingleFamily · Active · 318 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,297/mo
• Mortgage (P&I): −$1,615
• Tax + insurance: −$227
• HOA: −$52
• Vac / Maint / Mgmt: −$482
• Net cashflow: $-79/mo
• Annual: $-946/yr
• Cap rate: 5.99%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• 1% rule: 0.75%
• Cash to close: $86,240

Investor read

• This is a 3-bed/2.0-bath single-family listed at $308k.
• At list price, monthly cash flow is $-79 ($-946/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (25.4% below list).
• It's been on market 318 days — a 12% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $230k (25.4% 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 $9k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#154 in FL, #2,315 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• 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: Dommerich Elementary (math 88% / reading 87%, grade A+, #22 of 2,144 statewide, top 1%, 601 students, 19% FRL); Edgewater High (math 14% / reading 46%, grade F, #441 of 667 statewide, top 67%, 2,059 students, 52% FRL) — zoned schools average 36% FRL vs 56% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.9%/yr); 197 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 4 sale attempts since 15y 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 $115k; list at $308k implies a 168% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.8% in Maitland — 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 318 days. Have you received any prior offers? Is the seller open to a 25% 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 A-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.