1201 Gay St · Forest City, FL 32703

$175,000

3 bd · 1.5 ba · 1,334 sqft · SingleFamily public records · 2 Days on market

Built 1960 8,278 sqft lot Est $338k · 48% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.5/10.0
• Schools +5.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

New Roof 2022, Solar System 2022, New Electric Panel 2022. Home is located in a nice quiet area with a corner lot. Redesign the interior and upgrade the home just the way you want and you will end up with a 3/2.5 that will amaze your friends. The home currently is set up with a 2/1.5 as the main home. Upon entering that section of the home you enter the living room with views of the kitchen and dining areas. Down the short hall is a full bath. At the rear of the home are two bedrooms. The room on the left has a half bath attached. Use one of the closets in the hall to add Central air with exposed ducts, add a mini split system, or upgrade the window units. There is an opening the living ro

Key facts

• Half bath
• New electric panel
• Full bath

Tags

• NEW ROOF
• SOLAR SYSTEM
• NEW ELECTRIC PANEL
• CORNER LOT
• FULL BATH
• HALF BATH

Property features AI

Finance

• Other: Lot approximately 0.19 acres
• Financial info: No lease restrictions; Property zoned R-1
• HOA & community: No HOA

Exterior

• Parking: No parking details provided
• Utilities: Public water; Septic tank; Electricity connected; Water connected
• Home design: Single family residence; One-story; West-facing; Homestead exempt
• Construction: Block construction; Built-up and shingle roof; Slab foundation; Built in 1 story
• Exterior features: Chain link fencing; Asphalt road access

Interior

• Kitchen: Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Concrete; Linoleum
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: No central heating; Wall/window air conditioning units
• Interior features: Living room and dining room combined
• Laundry & utility: Laundry located outside

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 10.1% vs local median 3.5% in Forest City — 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.

Location & tenants

• Location reads 78/100 on livability (#175 in FL, #2,657 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A+; Watch: amenities F, commute F.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-2.8%/yr); 573 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $49k; list at $175k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.76%
• DSCR: 1.61
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $337,502
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 Marie Ave	0.08mi	3/1.5	1,326 (-1%)	9mo	$310,000	$234	88
1203 Marie Ave	0.05mi	4/1.5 (+1)	1,294 (-3%)	0mo	$320,000	$247	87
1201 Bear Lake Rd	0.35mi	3/2.0	1,300 (-2%)	4mo	$367,000	$282	74
4050 Mcneil Rd	0.36mi	3/2.0	1,249 (-6%)	4mo	$435,000	$348	67
3507 Curtis Dr	0.50mi	3/2.0	1,402 (+5%)	2mo	$330,000	$235	64
1003 Bear Lake Rd	0.45mi	3/2.0	1,302 (-2%)	12mo	$335,000	$257	63
3827 Anna Dr	0.04mi	3/1.5	1,136 (-15%)	13mo	$311,000	$274	63
3534 Shirley Dr	0.42mi	3/2.0	1,452 (+9%)	4mo	$285,000	$196	60
1016 Martex Dr	0.70mi	3/2.0	1,350 (+1%)	12mo	$341,000	$253	54
806 Bear Lake Rd	0.57mi	3/2.0	1,506 (+13%)	9mo	$350,000	$232	42
580 Quail Ave	0.70mi	3/2.0	1,155 (-13%)	6mo	$319,000	$276	38
531 1st Ave	0.74mi	3/2.0	1,160 (-13%)	10mo	$285,000	$246	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,479
• Equity at exit: $26,093

10-year hold

• IRR: 7.5%
• Equity multiple: 1.50×
• Total profit: $24,337
• Equity at exit: $15,131

Cash invested: $49,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32703

• Rents YoY: -2.8%
• Active inventory: 573
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$918
• Tax from tax record: −$30 /mo · $364/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $562

Break-even live

Break-even rent $1,292

Max offer price $175,000

Occupancy floor 67%

Sensitivity live

Price	-10% $661	-5% $612	+0% $562	+5% $313	+10% $253
Rent	-10% $404	-5% $483	+0% $562	+5% $641	+10% $720
Rate	-1.0pp $650	-0.5pp $607	base $562	+0.5pp $517	+1.0pp $471

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4018 Bonnie Dr Apopka, FL	2.0	2.0	943	$1,700	$1.80	24d	1	0.12mi
1224 Helen St Apopka, FL	3.0	2.0	1551	$2,395	$1.54	11d	1	0.17mi
700 Post Lake Pl Apopka, FL	3.0	1.0–2.0	945	$2,156	$2.28	2d	50	0.32mi
1337 Lake Asher Cir Apopka, FL	3.0	2.0	1483	$2,500	$1.69	22d	1	0.47mi
1193 Bunnell Rd Altamonte Springs, FL	3.0	2.0	1292	$2,195	$1.70	24d	1	0.69mi
1147 Magnolia Dr Altamonte Springs, FL	4.0	2.0	1646	$2,245	$1.36	24d	1	0.69mi
155 N Pearl Lake Cswy #200 Altamonte Springs, FL	2.0	2.0	1053	$1,545	$1.47	15d	1	0.74mi
238 Afton Sq #207 Altamonte Springs, FL	2.0	2.0	968	$1,350	$1.39	5d	1	0.79mi
208 Afton Sq #208 Altamonte Springs, FL	2.0	2.0	962	$1,500	$1.56	18d	1	0.84mi
208 Afton Sq Altamonte Springs, FL	1.0–2.0	1.0–2.0	757	$1,500	$1.98	4d	2	0.84mi
232 Afton Sq Altamonte Springs, FL	1.0–2.0	1.0	794	$1,567	$1.97	20d	2	0.85mi
651 Northbridge Dr Unit 651 Altamonte Springs, FL	3.0	2.5	1590	$2,000	$1.26	24d	1	0.89mi
563 Northbridge Dr Altamonte Springs, FL	3.0	2.5	1365	$1,950	$1.43	18d	1	0.90mi
3067 E Windchime Cir Apopka, FL	3.0	2.0	1415	$1,590	$1.12	18d	1	0.94mi
1227 Pendleton Dr Altamonte Springs, FL	3.0	2.0	1540	$2,400	$1.56	24d	1	1.00mi
1064 Lotus Pkwy #934 Altamonte Springs, FL	2.0	2.0	1001	$1,795	$1.79	3d	1	1.03mi
588 Brantley Terrace Way Altamonte Springs, FL	3.0	2.0	1309	$1,875	$1.43	24d	2	1.03mi
1054 Lotus Cove Ct #612 Altamonte Springs, FL	2.0	2.0	1001	$1,795	$1.79	3d	1	1.05mi
520 Terraceview Cv Altamonte Springs, FL	1.0–3.0	1.0–2.0	1015	$2,134	$2.10	2d	26	1.15mi
9434 Bear Lake Rd Forest City, FL	3.0	2.0	1074	$3,500	$3.26	5d	1	1.19mi
545 Nantucket Ct Altamonte Springs, FL	2.0	2.0	1140	$1,396	$1.22	13d	4	1.20mi
958 Salt Pond Pl #103 Altamonte Springs, FL	2.0	2.0	982	$1,525	$1.55	5d	1	1.21mi
958 Salt Pond Pl Altamonte Springs, FL	2.0	2.0	1000	$1,420	$1.42	15d	2	1.21mi
956 Salt Pond Pl Altamonte Springs, FL	2.0	2.0	1019	$1,475	$1.45	13d	2	1.22mi
951 Salt Pond Pl #201 Altamonte Springs, FL	2.0	2.0	1019	$1,400	$1.37	3d	1	1.26mi
951 Salt Pond Pl Unit 1304 Altamonte Springs, FL	2.0	2.0	1019	$1,450	$1.42	24d	1	1.26mi
37 Hollow Branch Rd Apopka, FL	3.0	2.0	1835	$2,395	$1.31	18d	1	1.27mi
3000 Foxhill Cir Apopka, FL	1.0–3.0	1.0–2.5	1208	$2,236	$1.85	2d	23	1.28mi
820 Camargo Way #207 Altamonte Springs, FL	2.0	2.0	1209	$1,500	$1.24	13d	1	1.29mi
823 Camargo Way #104 Altamonte Springs, FL	2.0	2.0	990	$1,750	$1.77	18d	1	1.29mi
826 Camargo Way Unit 5-104 Altamonte Springs, FL	2.0	2.0	990	$1,650	$1.67	24d	1	1.30mi
637 Buoy Ln Altamonte Springs, FL	2.0	2.0	1019	$1,475	$1.45	24d	2	1.33mi
642 Dory Ln #203 Altamonte Springs, FL	2.0	2.0	1019	$1,475	$1.45	5d	1	1.35mi
832 Camargo Way #105 Altamonte Springs, FL	3.0	2.0	1209	$1,800	$1.49	3d	1	1.35mi
831 Camargo Way Altamonte Springs, FL	2.0	2.0	1155	$1,700	$1.47	4d	2	1.38mi
831 Camargo Way Altamonte Springs, FL	2.0	2.0	1102	$1,700	$1.54	22d	1	1.38mi
801 Ravens Cir Altamonte Springs, FL	1.0–3.0	1.0–2.0	884	$1,686	$1.91	5d	8	1.45mi

Listing history 3 events

1. 2026-06-18
   days on market $175,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $175,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $364 · $30/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$1,088/yr (+$91/mo · 298.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,046
• − Mortgage interest: −$9,803
• − Property taxes: −$364
• − Insurance: −$875
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$5,091
• Taxable income: $4,065
• Est. tax owed @ 24.0%: −$976
• After-tax cash flow: $5,768/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Forest City

• Score: 78/100
• State rank: #175
• US rank: #2657

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, FL
• County: Orange County · 1,471,359 people
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 59,269
• Household income: $72,880
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 2191.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 35% Hispanic / Latino 30% Black 28% Two or more races 16% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 12% Cuban 3% Dominican 2%
• Common ancestry: Hispanic 4% Romanian 1% Italian 1%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 22% French/Haitian/Cajun 3% Other Indo-European 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.30%
• Current HPI: 319.2139
• Rent YoY: ▼ -2.75%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+877.7% since first listed

3 events — show timeline

• 2026-06-16 Listed $175,000 Stellar MLS as Distributed by MLS Grid
• 1997-05-13 Sold (Public Records) $49,000 Public Records
• 1973-01-01 Sold (Public Records) $17,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $364 · -43.9% YoY. Source: county tax records.