39 Slipper Trl

Palm Coast, FL 32164

$339,990D+

4 bd · 2.0 ba · 2,134 sqft · Built 2026 · SingleFamily · Pending · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,479/mo
• Mortgage (P&I): −$1,783
• Tax + insurance: −$287
• HOA: −$0
• Vac / Maint / Mgmt: −$521
• Net cashflow: $-112/mo
• Annual: $-1,341/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• 1% rule: 0.73%
• Cash to close: $95,197

Investor read

• This is a 4-bed/2.0-bath single-family listed at $340k.
• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $320k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (27.1% below list).
• It's been on market 56 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (27.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#478 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: amenities F, commute F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising (+1.2%/yr); 1367 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $68k; list at $340k implies a 400% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.8% in Palm Coast — 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 39% of the median local income ($76k/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?
• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.