5219 Via Hacienda Cir Unit B111

Orlando, FL 32839

$100,000D

2 bd · 2.0 ba · 934 sqft · Built 1986 · Condo · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,464/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$539
• Vac / Maint / Mgmt: −$307
• Net cashflow: $-73/mo
• Annual: $-880/yr
• Cap rate: 5.41%
• Cash-on-cash: -3.14%
• DSCR: 0.86
• 1% rule: 1.46%
• Cash to close: $28,000

Investor read

• This is a 2-bed/2.0-bath condo listed at $100k.
• At list price, monthly cash flow is $-73 ($-880/yr) — negative.
• To cash-flow at today's rent, offer at most $89k (10.6% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $89k (10.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Palmetto Elementary (math 31% / reading 33%, grade F, #1,797 of 2,144 statewide, top 86%, 805 students, 75% FRL); Westridge Middle (math 33% / reading 30%, grade F, #453 of 571 statewide, top 81%, 1,207 students, 68% FRL); Oak Ridge High (math 17% / reading 27%, grade F, #544 of 667 statewide, top 82%, 2,477 students, 66% FRL).
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Watch-outs: HOA is 37% of rent.
• Market conditions: Rents soft (-0.5%/yr); 224 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 9y 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 $76k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 5.4% vs local median 3.0% in Orlando — 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.
• This rent runs 37% of the median local income ($47k/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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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.
• 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.