3914 Sunbird Cir

Sebring, FL 33872

$192,000C-

2 bd · 2.0 ba · 1,242 sqft · Built 1985 · SingleFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,616/mo
• Mortgage (P&I): −$1,007
• Tax + insurance: −$135
• HOA: −$75
• Vac / Maint / Mgmt: −$339
• Net cashflow: $60/mo
• Annual: $715/yr
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 0.84%
• Cash to close: $53,760

Investor read

• This is a 2-bed/2.0-bath single-family listed at $192k.
• At list price, monthly cash flow is $60 ($715/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 $162k (15.8% below list).
• It's been on market 76 days — a 6% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (15.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#618 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.
• Highlands (other): math 45% / reading 43% proficiency, ranked #54 of 73 in FL (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sun 'N Lake Elementary School (math 63% / reading 59%, grade B, #653 of 2,144 statewide, top 31%, 618 students, 67% FRL); Hill-Gustat Middle School (math 53% / reading 50%, grade C, #232 of 571 statewide, top 41%, 705 students, 63% FRL); Sebring High School (math 32% / reading 48%, grade F, #296 of 667 statewide, top 45%, 1,809 students, 56% FRL).
• Market conditions: Rents rising (+1.6%/yr); 705 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• 2 sale attempts since 12y 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 $75k; list at $192k implies a 156% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 4.3% in Sebring — 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

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 16% 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 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?
• 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.