401 Finchley Ct Unit A

Sun City Center, FL 33573

$122,500D

2 bd · 2.0 ba · 984 sqft · Built 1979 · Condo · Pending · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,695/mo
• Mortgage (P&I): −$642
• Tax + insurance: −$247
• HOA: −$668
• Vac / Maint / Mgmt: −$356
• Net cashflow: $-219/mo
• Annual: $-2,623/yr
• Cap rate: 4.15%
• Cash-on-cash: -7.65%
• DSCR: 0.66
• 1% rule: 1.38%
• Cash to close: $34,300

Investor read

• This is a 2-bed/2.0-bath condo listed at $122k.
• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (31.5% below list).
• Meets the 1% rule at list price ($2k rent vs $122k).
• It's been on market 69 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (31.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $847 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#178 in FL, #2,736 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jule F Sumner High School (math 43% / reading 43%, grade F, #255 of 667 statewide, top 39%, 3,827 students, 43% FRL).
• Watch-outs: HOA is 39% of rent.
• Market conditions: Rents rising (+2.6%/yr); 602 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 22y 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/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?
• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?