108 Clocktower Dr #261

Brandon, FL 33510

$153,000D

2 bd · 2.0 ba · 1,098 sqft · Built 1981 · Condo · Active · 236 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,651/mo
• Mortgage (P&I): −$802
• Tax + insurance: −$90
• HOA: −$451
• Vac / Maint / Mgmt: −$347
• Net cashflow: $-39/mo
• Annual: $-466/yr
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• 1% rule: 1.08%
• Cash to close: $42,840

Investor read

• This is a 2-bed/2.0-bath condo listed at $153k.
• At list price, monthly cash flow is $-39 ($-466/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (4.5% below list).
• Meets the 1% rule at list price ($2k rent vs $153k).
• It's been on market 236 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (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 85/100 on livability (#26 in FL, #507 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+.
• 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: Limona Elementary School (math 63% / reading 57%, grade B-, #680 of 2,144 statewide, top 32%, 567 students, 55% FRL); Mclane Middle School (math 20% / reading 20%, grade F, #558 of 571 statewide, top 98%, 817 students, 74% FRL); Brandon High School (math 32% / reading 36%, grade F, #394 of 667 statewide, top 60%, 1,560 students, 57% FRL).
• Watch-outs: HOA is 27% of rent.
• Market conditions: Rents soft (-0.1%/yr); 152 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 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.
• Current owner paid $55k; list at $153k implies a 179% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/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 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.