15170 Crosshall Stream Dr

Balm, FL 33598

$389,990D-

5 bd · 3.0 ba · 2,447 sqft · Built 2026 · Land · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,919/mo
• Mortgage (P&I): −$2,045
• Tax + insurance: −$650
• HOA: −$7
• Vac / Maint / Mgmt: −$613
• Net cashflow: $-396/mo
• Annual: $-4,753/yr
• Cap rate: 5.07%
• Cash-on-cash: -4.35%
• DSCR: 0.81
• 1% rule: 0.75%
• Cash to close: $109,197

Investor read

• This is a 5-bed/3.0-bath land listed at $390k.
• At list price, monthly cash flow is $-396 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $333k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (25.1% below list).
• It's been on market 32 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $292k (25.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.4%/yr); year-one equity from $3k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#742 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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: Reddick Elementary School (math 34% / reading 29%, grade F, #1,841 of 2,144 statewide, top 86%, 794 students, 78% 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 soft (-2.5%/yr); 674 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 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.
• This rent runs 36% of the median local income ($98k/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 32 days. Have you received any prior offers? Is the seller open to a 25% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.