Boston Plan

Plant City, FL 33565

$350,990D

5 bd · 2.5 ba · 2,215 sqft · Built — · SingleFamily · Active · 369 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,104/mo
• Mortgage (P&I): −$1,841
• Tax + insurance: −$585
• HOA: −$0
• Vac / Maint / Mgmt: −$652
• Net cashflow: $27/mo
• Annual: $321/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• 1% rule: 0.88%
• Cash to close: $98,277

Investor read

• This is a 5-bed/2.5-bath single-family listed at $351k. Condition is rated excellent.
• At list price, monthly cash flow is $27 ($321/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (11.6% below list).
• It's been on market 369 days — a 12% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $309k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#227 in FL, #3,587 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Knights Elementary School (math 52% / reading 45%, grade D, #1,152 of 2,144 statewide, top 55%, 623 students, 70% FRL); Marshall Middle Magnet School (math 28% / reading 31%, grade F, #469 of 571 statewide, top 84%, 1,089 students, 69% FRL); Plant City High School (math 38% / reading 40%, grade F, #312 of 667 statewide, top 48%, 2,474 students, 58% FRL).
• Market conditions: 323 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $3,104/mo this rent would consume 51% of the median local household income ($73k/yr) (locally 152% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 369 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 D-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.
• 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.