8230 72nd St E

The Meadows, FL 34201

$262,900D+

3 bd · 2.5 ba · 1,596 sqft · Built 2005 · Condo · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,674/mo
• Mortgage (P&I): −$1,379
• Tax + insurance: −$244
• HOA: −$415
• Vac / Maint / Mgmt: −$562
• Net cashflow: $75/mo
• Annual: $906/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• 1% rule: 1.02%
• Cash to close: $73,612

Investor read

• This is a 3-bed/2.5-bath condo listed at $263k.
• At list price, monthly cash flow is $75 ($906/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $263k).
• It's been on market 27 days — a 2% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $259k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#465 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A; Watch: amenities F, commute F, health & safety F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 102 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.