277 NW Waldo Rd

Five Points, FL 32055

$165,000D

2 bd · 2.0 ba · 1,350 sqft · Built 1963 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,357/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$213
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $-6/mo
• Annual: $-72/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• 1% rule: 0.82%
• Cash to close: $46,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-6 ($-72/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (17.8% below list).
• It's been on market 39 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (17.8% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#830 in FL) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing B+; Watch: schools F, amenities F, commute F.
• Columbia (town): math 53% / reading 54% proficiency, ranked #25 of 73 in FL (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 145 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 39 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.