100 EL Camino Dr #111

Cypress Gardens, FL 33884

$65,000D

1 bd · 1.0 ba · 931 sqft · Built 1971 · Condo · Active · 164 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,338/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$125
• HOA: −$660
• Vac / Maint / Mgmt: −$281
• Net cashflow: $-69/mo
• Annual: $-825/yr
• Cap rate: 5.02%
• Cash-on-cash: -4.53%
• DSCR: 0.80
• 1% rule: 2.06%
• Cash to close: $18,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $65k.
• At list price, monthly cash flow is $-69 ($-825/yr) — negative.
• To cash-flow at today's rent, offer at most $53k (18.7% below list).
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 164 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (18.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#110 in FL, #1,693 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Garden Grove Elementary School (math 49% / reading 40%, grade F, #1,288 of 2,144 statewide, top 62%, 723 students, 46% FRL); Winter Haven Senior High School (math 26% / reading 38%, grade F, #415 of 667 statewide, top 63%, 2,467 students, 50% FRL).
• Watch-outs: HOA is 49% of rent.
• Market conditions: Rents rising (+1.9%/yr); 680 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 19y ago; this cycle's ask is 4233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 164 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?