307 Winfield Way

Laurel, FL 34275

$714,900D

5 bd · 3.0 ba · 2,343 sqft · Built 1974 · MultiFamily · Pending · 717 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,226/mo
• Mortgage (P&I): −$3,749
• Tax + insurance: −$1,333
• HOA: −$0
• Vac / Maint / Mgmt: −$1,307
• Net cashflow: $-164/mo
• Annual: $-1,967/yr
• Cap rate: 6.73%
• Cash-on-cash: 1.57%
• DSCR: 1.07
• 1% rule: 0.87%
• Cash to close: $200,172

Investor read

• This is a 4 × 2-bed/1-bath units multifamily listed at $715k.
• At list price, monthly cash flow is $-164 ($-2k/yr) — negative. Per door: $-41/mo.
• To cash-flow at today's rent, offer at most $686k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $623k (12.9% below list).
• It's been on market 717 days — a 12% lower offer ($629k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $623k (12.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#529 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A-; Watch: schools D+, cost of living D, amenities F.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents falling (-4.0%/yr); 751 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 16 sale attempts since 20y ago; this cycle's ask is 57092% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $6,226/mo this rent would consume 84% of the median local household income ($89k/yr) (locally 338% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 717 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.