None

Sanford, FL 32773

$120,000B

3 bd · 1.5 ba · 1,323 sqft · Built 1973 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,805/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$379
• Net cashflow: $622/mo
• Annual: $7,465/yr
• Cap rate: 12.51%
• Cash-on-cash: 22.22%
• DSCR: 1.99
• 1% rule: 1.50%
• Cash to close: $33,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $120k.
• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#316 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crystal Lake Elementary School (math 59% / reading 69%, grade B, #552 of 2,144 statewide, top 26%, 700 students, 48% FRL); Millennium Middle School (math 46% / reading 48%, grade D+, #291 of 571 statewide, top 52%, 1,347 students, 70% FRL); Seminole High School (math 35% / reading 51%, grade F, #255 of 667 statewide, top 39%, 4,036 students, 53% FRL) — zoned schools average 57% FRL vs 38% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 287 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.5% vs local median 3.6% in Sanford — 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 31% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.