2317 PEBBLE BEACH BLVD. Plan

Orlando, FL 32826

$229,900D

3 bd · 2.0 ba · 1,568 sqft · Built — · Manufactured · Active · 158 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,715/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$383
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $-234/mo
• Annual: $-2,806/yr
• Cap rate: 5.07%
• Cash-on-cash: -4.36%
• DSCR: 0.81
• 1% rule: 0.75%
• Cash to close: $64,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $230k. Condition is rated fair.
• At list price, monthly cash flow is $-234 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (25.4% below list).
• It's been on market 158 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (25.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#12 in FL, #360 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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.
• Zoned schools: Bonneville Elementary (math 46% / reading 42%, grade F, #1,330 of 2,144 statewide, top 63%, 430 students, 66% FRL); Corner Lake Middle (math 42% / reading 47%, grade D, #320 of 571 statewide, top 57%, 841 students, 54% FRL); East River High (math 27% / reading 47%, grade F, #340 of 667 statewide, top 52%, 2,050 students, 45% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents falling (-4.0%/yr); 213 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 43d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Cap rate 5.1% vs local median 3.1% in Orlando — 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.
• This rent runs 32% of the median local income ($65k/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 158 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 B-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?
• 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.