8623 Oakstone Cir

Leesburg, FL 34788

$359,990D

4 bd · 3.0 ba · 2,154 sqft · Built 2026 · SingleFamily · Active · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,668/mo
• Mortgage (P&I): −$1,888
• Tax + insurance: −$600
• HOA: −$8
• Vac / Maint / Mgmt: −$560
• Net cashflow: $-388/mo
• Annual: $-4,655/yr
• Cap rate: 5.00%
• Cash-on-cash: -4.62%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $100,797

Investor read

• This is a 4-bed/3.0-bath single-family listed at $360k. Condition is rated excellent.
• At list price, monthly cash flow is $-388 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (25.9% below list).
• It's been on market 181 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $267k (25.9% 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 $11k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#751 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Leesburg Elementary School (math 31% / reading 32%, grade F, #1,841 of 2,144 statewide, top 86%, 822 students, 71% FRL); Oak Park Middle School (math 32% / reading 36%, grade F, #426 of 571 statewide, top 75%, 575 students, 70% FRL); Leesburg High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,641 students, 58% FRL) — zoned schools average 66% FRL vs 49% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Lake average; the district grade overstates school quality for this exact location.
• Market conditions: 559 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 75d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,668/mo this rent would consume 59% of the median local household income ($54k/yr) — 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?
• It's been on market 181 days. Have you received any prior offers? Is the seller open to a 26% 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D 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?
• 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?