10205 Stedfast Ct

Apollo Beach, FL 33573

$449,700D

6 bd · 4.0 ba · 3,153 sqft · Built 2013 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,308/mo
• Mortgage (P&I): −$2,358
• Tax + insurance: −$454
• HOA: −$13
• Vac / Maint / Mgmt: −$695
• Net cashflow: $-212/mo
• Annual: $-2,544/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• 1% rule: 0.74%
• Cash to close: $125,916

Investor read

• This is a 6-bed/4.0-bath single-family listed at $450k.
• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $412k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (26.4% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $331k (26.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#333 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, health & safety F.
• 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: Belmont Elementary School (math 42% / reading 45%, grade F, #1,345 of 2,144 statewide, top 64%, 987 students, 44% FRL); Jule F Sumner High School (math 43% / reading 43%, grade F, #255 of 667 statewide, top 39%, 3,827 students, 43% FRL).
• Market conditions: Rents rising (+2.6%/yr); 605 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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.
• 2 sale attempts since 13y 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 $293k; list at $450k implies a 54% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,308/mo this rent would consume 55% of the median local household income ($73k/yr) (locally 1382% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.