710 Mcdougall Ct #710

Sky Lake, FL 32809

$154,000D-

3 bd · 2.0 ba · 700 sqft · Built 1976 · Condo · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,521/mo
• Mortgage (P&I): −$808
• Tax + insurance: −$239
• HOA: −$230
• Vac / Maint / Mgmt: −$319
• Net cashflow: $-75/mo
• Annual: $-904/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.10%
• DSCR: 0.91
• 1% rule: 0.99%
• Cash to close: $43,120

Investor read

• This is a 3-bed/2.0-bath condo listed at $154k.
• At list price, monthly cash flow is $-75 ($-904/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (1.2% below list).
• It's been on market 121 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 83/100 on livability (#52 in FL, #916 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.1%/yr); 130 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 4y 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.
• Current owner paid $129k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• This rent runs 32% of the median local income ($58k/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 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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 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?