HARPER Plan

Winter Haven, FL 33884

$286,990D-

4 bd · 2.0 ba · 1,665 sqft · Built — · SingleFamily · Active · 406 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,445/mo
• Mortgage (P&I): −$1,505
• Tax + insurance: −$478
• HOA: −$0
• Vac / Maint / Mgmt: −$513
• Net cashflow: $-52/mo
• Annual: $-625/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $80,357

Investor read

• This is a 4-bed/2.0-bath single-family listed at $287k.
• At list price, monthly cash flow is $-52 ($-625/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (14.8% below list).
• It's been on market 406 days — a 12% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (14.8% 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 $9k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#291 in FL, #4,898 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, employment C-, amenities F.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 680 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 42% of the median local income ($70k/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 406 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• 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.
• 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.