12406 NE 50th Vw

Wildwood, FL 34484

$269,000D+

4 bd · 3.5 ba · 2,096 sqft · Built 2009 · SingleFamily · Active · 269 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,288/mo
• Mortgage (P&I): −$1,411
• Tax + insurance: −$403
• HOA: −$80
• Vac / Maint / Mgmt: −$480
• Net cashflow: $-86/mo
• Annual: $-1,032/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• 1% rule: 0.85%
• Cash to close: $75,320

Investor read

• This is a 4-bed/3.5-bath single-family listed at $269k.
• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (14.9% below list).
• It's been on market 269 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (14.9% 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 $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#471 in FL) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime A-; Watch: schools C-, amenities F, commute F.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 160 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts since 11y ago; this cycle's ask has dropped $46k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $224k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 3.9% in Wildwood — 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.

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 269 days. Have you received any prior offers? Is the seller open to a 15% 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?
• 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.
• 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.