4758 Espiritu Way

Ave Maria, FL 34142

$420,000D-

4 bd · 3.0 ba · 1,933 sqft · Built 2026 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,762/mo
• Mortgage (P&I): −$2,203
• Tax + insurance: −$700
• HOA: −$423
• Vac / Maint / Mgmt: −$790
• Net cashflow: $-353/mo
• Annual: $-4,241/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.61%
• DSCR: 0.84
• 1% rule: 0.90%
• Cash to close: $117,600

Investor read

• This is a 4-bed/3.0-bath single-family listed at $420k. Condition is rated good.
• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $369k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $376k (10.4% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $369k (12.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.1%/yr); year-one equity from $3k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Collier (suburban): math 60% / reading 56% proficiency, ranked #16 of 73 in FL (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Estates Elementary School (math 70% / reading 67%, grade B+, #409 of 2,144 statewide, top 20%, 862 students, 53% FRL); Corkscrew Middle School (math 68% / reading 59%, grade B+, #109 of 571 statewide, top 19%, 958 students, 43% FRL); Palmetto Ridge High School (math 43% / reading 51%, grade D-, #207 of 667 statewide, top 32%, 2,347 students, 38% FRL).
• Market conditions: Rents rising (+3.0%/yr); 453 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $3,762/mo this rent would consume 72% of the median local household income ($62k/yr) (locally 1093% of renters already pay >50% of income on rent) — 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?
• 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.
• 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.