14637 NE 145th Ave

Waldo, FL 32694

$206,000D+

3 bd · 1.0 ba · 1,656 sqft · Built 1976 · SingleFamily · Active · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,875/mo
• Mortgage (P&I): −$1,080
• Tax + insurance: −$432
• HOA: −$0
• Vac / Maint / Mgmt: −$394
• Net cashflow: $-31/mo
• Annual: $-374/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• 1% rule: 0.91%
• Cash to close: $57,680

Investor read

• This is a 3-bed/1.0-bath single-family listed at $206k.
• At list price, monthly cash flow is $-31 ($-374/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (9.0% below list).
• It's been on market 77 days — a 6% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (9.0% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (8.0% local appreciation)).
• Location reads 63/100 on livability (#705 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime C-, schools F, amenities F.
• Alachua (urban): math 49% / reading 54% proficiency, ranked #30 of 73 in FL (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 36 active listings in the ZIP; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• Alachua County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 11y 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 $56k; list at $206k implies a 268% gain — meaningful room to come down on a strong offer.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $58k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→21/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 77 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.