6345 Clover St

Lake Hamilton, FL 33838

$313,214D-

3 bd · 2.0 ba · 1,700 sqft · Built 2024 · SingleFamily · Active · 737 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,103/mo
• Mortgage (P&I): −$1,643
• Tax + insurance: −$522
• HOA: −$0
• Vac / Maint / Mgmt: −$442
• Net cashflow: $-503/mo
• Annual: $-6,040/yr
• Cap rate: 4.36%
• Cash-on-cash: -6.89%
• DSCR: 0.69
• 1% rule: 0.67%
• Cash to close: $87,700

Investor read

• This is a 3-bed/2.0-bath single-family listed at $313k.
• At list price, monthly cash flow is $-503 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (32.9% below list).
• It's been on market 737 days — a 12% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $210k (32.9% below list) — sets the bar for 1% rule.
• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#591 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute 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.
• Zoned schools: Alta Vista Elementary School (math 35% / reading 36%, grade F, #1,684 of 2,144 statewide, top 79%, 769 students, 60% FRL); Shelley S. Boone Middle School (math 25% / reading 25%, grade F, #517 of 571 statewide, top 91%, 1,403 students, 52% FRL); Haines City Senior High School (math 12% / reading 32%, grade F, #544 of 667 statewide, top 82%, 2,700 students, 58% FRL) — zoned schools at 56% FRL track the district average.
• Zoned-school proficiency averages 28% at this address vs 41% district-wide (-14 pts) — the specific schools serving this property underperform the Polk average; the district grade overstates school quality for this exact location.
• Market conditions: 150 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 737 days. Have you received any prior offers? Is the seller open to a 33% 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.
• 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.