7039 Stanhope Pl

The Meadows, FL 34201

$985,000D+

3 bd · 3.0 ba · 2,906 sqft · Built 2001 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,121/mo
• Mortgage (P&I): −$5,165
• Tax + insurance: −$1,219
• HOA: −$682
• Vac / Maint / Mgmt: −$1,705
• Net cashflow: $-651/mo
• Annual: $-7,815/yr
• Cap rate: 5.50%
• Cash-on-cash: -2.83%
• DSCR: 0.87
• 1% rule: 0.82%
• Cash to close: $275,800

Investor read

• This is a 3-bed/3.0-bath single-family listed at $985k.
• At list price, monthly cash flow is $-651 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $870k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $812k (17.6% below list).
• It's been on market 16 days — a 2% lower offer ($970k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $812k (17.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.6%/yr); year-one equity from $7k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#465 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A; Watch: amenities F, commute F, health & safety F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 102 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: 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.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.