7951 Old Spanish

Sneads, FL 32460

$59,000B

3 bd · 3.0 ba · 1,392 sqft · Built 2004 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,345/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $533/mo
• Annual: $6,401/yr
• Cap rate: 17.14%
• Cash-on-cash: 38.75%
• DSCR: 2.72
• 1% rule: 2.28%
• Cash to close: $16,520

Investor read

• This is a 3-bed/3.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• It's been on market 21 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• In year one you build about $526 of equity ($408 loan paydown + $118 appreciation (0.2% local appreciation)).
• Location reads 64/100 on livability (#682 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Jackson (rural): math 47% / reading 54% proficiency, ranked #39 of 73 in FL (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 4.0% of price.
• Market conditions: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 153 units permitted in Jackson County in 2024 (40 in 5+ unit buildings).
• Jackson County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 12 sale attempts since 9y ago; this cycle's ask has dropped $30k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.