2734 Coral Reef Dr · University, FL 32826

$250,000

2 bd · 2.0 ba · 837 sqft · MultiFamily public records · 37 Days on market

Built 1983

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Enjoy this wonderful quaint 2 bedroom home near UCF! The kitchen comes complete with gorgeous hardwood cabinets and granite countertops! The kitchen and baths are tiled while rooms are finished with beautiful hardwood floors. Master bedrooms complete with en-suite bathroom. Great location just minutes from UCF and major roads 408, 417, Downtown Orlando and East Colonial.

Key facts

• Hardwood cabinets
• Tiled kitchen
• Tiled baths

Tags

• HARDWOOD CABINETS
• GRANITE COUNTERTOPS
• TILED KITCHEN
• TILED BATHS
• HARDWOOD FLOORS
• EN-SUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.9% in University — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 85/100 on livability (#28 in FL, #603 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Orange (suburban): math 46% / reading 51% proficiency, ranked #43 of 73 in FL (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-4.0%/yr); 101 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• At $2,903/mo this rent would consume 54% of the median local household income ($65k/yr) (locally 1705% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $142k; list at $250k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.83×
• Total profit: $-12,164
• Equity at exit: $37,276

10-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $4,086
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32826

• Home prices YoY: -17.0%
• Rents YoY: -4.0%
• Active inventory: 101
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,903 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$300 /mo · $3,601/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $578

Break-even live

Break-even rent $2,171

Max offer price $250,000

Occupancy floor 75%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,904
Total (2 units)			$2,903

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2714 Adela Ave Orlando, FL	2.0	2.0	880	$1,525	$1.73	22d	1	0.04mi
2612 Adela Ave Unit 2612 Orlando, FL	2.0	2.0	880	$1,550	$1.76	4d	1	0.11mi
12352 Fox Hound Ct Orlando, FL	2.0	1.5	1006	$1,600	$1.59	8d	1	0.17mi
2724 Gray Fox Ln Orlando, FL	2.0	1.5	992	$1,500	$1.51	24d	1	0.20mi
2720 Gray Fox Ln Orlando, FL	2.0	1.5	992	$1,500	$1.51	22d	1	0.20mi
12240 Eastcove Dr Orlando, FL	2.0	2.0	837	$1,599	$1.91	20d	1	0.21mi
12216 Fox Hound Ln Orlando, FL	2.0	2.0	1048	$1,650	$1.57	22d	1	0.23mi
12222 Fox Hound Ln Orlando, FL	2.0	2.0	1060	$1,900	$1.79	3d	1	0.23mi
2547 N Alafaya Trl #92 Orlando, FL	2.0	1.0	850	$1,380	$1.62	8d	1	0.24mi
2533 N Alafaya Trl #62 Orlando, FL	2.0	1.0	850	$1,295	$1.52	18d	1	0.24mi
2521 N Alafaya Trl #37 Orlando, FL	2.0	1.0	850	$1,420	$1.67	24d	1	0.25mi
2519 N Alafaya Trl #34 Orlando, FL	2.0	1.0	850	$1,450	$1.71	24d	1	0.25mi
2549 N Alafaya Trl Orlando, FL	2.0	1.0	850	$1,200	$1.41	4d	1	0.26mi
2557 N Alafaya Trl #110 Orlando, FL	2.0	1.0	900	$1,295	$1.44	18d	1	0.28mi
2515 N Alafaya Trl Orlando, FL	2.0	1.0	850	$1,295	$1.52	22d	1	0.28mi
2565 N Alafaya Trl Orlando, FL	2.0	1.0	850	$1,495	$1.76	24d	1	0.29mi
2507 N Alafaya Trl #12 Orlando, FL	2.0	1.0	850	$1,300	$1.53	20d	1	0.30mi
12164 Pepperdine Pl Orlando, FL	2.0	2.0	960	$1,525	$1.59	24d	1	0.30mi
2509 N Alafaya Trl #16 Orlando, FL	2.0	1.0	850	$1,495	$1.76	24d	1	0.31mi
2505 N Alafaya Trl #8 Orlando, FL	2.0	1.0	850	$1,395	$1.64	24d	1	0.31mi
2505 N Alafaya Trl Orlando, FL	2.0	1.0	850	$1,395	$1.64	24d	1	0.31mi
2643 Laser Ct Orlando, FL	2.0	2.0	1033	$1,550	$1.50	2d	1	0.32mi
12165 Pepperdine Pl Orlando, FL	2.0	2.0	960	$1,900	$1.98	24d	1	0.33mi
2550 N Alafaya Trl Orlando, FL	1.0–3.0	1.0–2.0	870	$1,512	$1.74	8d	4	0.37mi
12078 Tift Cir Orlando, FL	2.0	2.5	935	$1,550	$1.66	24d	1	0.37mi
12062 Tift Cir Orlando, FL	2.0	2.5	960	$1,800	$1.88	24d	1	0.41mi
12058 Tift Cir Orlando, FL	2.0	2.5	935	$1,650	$1.76	24d	1	0.41mi
12034 Tift Cir Unit 12038TIF Orlando, FL	2.0	2.0	960	$1,549	$1.61	24d	1	0.47mi
11640 Anjali Ct Unit 1 Orlando, FL	2.0	2.0	982	$1,649	$1.68	22d	1	0.61mi
12221 E Colonial Dr Orlando, FL	2.0	1.0–2.0	817	$2,015	$2.47	3d	10	0.82mi
1421 Sophie Blvd Orlando, FL	2.0	2.0	1087	$1,795	$1.65	18d	1	1.00mi
2708 Geoffrey Dr Orlando, FL	3.0	1.0	1043	$1,700	$1.63	4d	1	1.03mi
1928 Bonneville Dr Orlando, FL	2.0	2.0	1000	$1,590	$1.59	8d	1	1.08mi
3544 Khayyam Ave Orlando, FL	2.0	2.5	950	$1,490	$1.57	8d	1	1.09mi
3564 Aristotle Ave Unit 3564 Orlando, FL	2.0	2.0	1013	$1,320	$1.30	24d	1	1.10mi
3566 Aristotle Ave Orlando, FL	2.0	2.0	1014	$1,320	$1.30	18d	1	1.10mi
12137 Ashton Manor Way Orlando, FL	1.0–3.0	1.0–2.0	1051	$1,693	$1.61	3d	8	1.11mi
1820 Bonneville Dr Unit 1820 Orlando, FL	3.0	2.5	850	$1,595	$1.88	24d	1	1.11mi
3569 Khayyam Ave Unit 5 Orlando, FL	1.0	1.0	550	$1,050	$1.91	24d	1	1.14mi
10207 N Alafaya Trl Unit 10207 Orlando, FL	1.0	1.0	583	$1,225	$2.10	24d	1	1.17mi

Listing history 17 events

1. 2026-06-18
   days on market $250,000 Active 37 DOM
2. 2026-06-17
   days on market $250,000 Active 36 DOM
3. 2026-06-16
   days on market $250,000 Active 35 DOM
4. 2026-06-15
   days on market $250,000 Active 34 DOM
5. 2026-06-13
   days on market $250,000 Active 32 DOM
6. 2026-06-13
   days on market $250,000 Active 31 DOM
7. 2026-06-09
   days on market $250,000 Active 28 DOM
8. 2026-06-08
   days on market $250,000 Active 27 DOM
9. 2026-06-07
   days on market $250,000 Active 26 DOM
10. 2026-06-04
    days on market $250,000 Active 23 DOM
11. 2026-06-03
    days on market $250,000 Active 22 DOM
12. 2026-06-02
    days on market $250,000 Active 21 DOM
13. 2026-06-02
    days on market $250,000 Active 20 DOM
14. 2026-05-31
    days on market $250,000 Active 19 DOM
15. 2026-05-12
    listed $250,000 Active
16. 2019-08-06
    soldstatus $142,500
17. 2014-03-05
    soldstatus $37,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,601 · $300/mo
• Projected year-2 tax: $3,601 · $300/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,836
• − Mortgage interest: −$14,004
• − Property taxes: −$3,601
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,787
• − Management: −$2,787
• − Depreciation: −$7,273
• Taxable income: $3,134
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $6,185/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Orange
• NCES district ID: 1201440
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $49,350
• Composite: 41.47/100
• National rank: #3461
• State rank: #43 of 73 in FL

Livability — University

• Score: 85/100
• State rank: #28
• US rank: #603

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C Employment C+ Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: University, FL
• County: Orange County · 1,471,359 people
• City population: 41,570
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 29,006
• Household income: $64,755
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1705.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 1,618,226 people
• By 2030: 1,787,404 · +10.5%
• By 2040: 2,125,621 · +31.4%
• By 2050: 2,454,016 · +51.6%
• By 2075: 3,173,711 · +96.1%
• By 2100: 3,607,781 · +122.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 48% Hispanic / Latino 34% Two or more races 19% Black 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 16% Cuban 6% Dominican 1%
• Common ancestry: Romanian 2% Slovak 1% Serbian 1%
• Foreign-born: 15% · Canada
• Languages at home: 70% English-only · Spanish 22% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Orange

• 2024 margin: D (+13.6) · D 56.1% · R 42.5% · Other 1.3%
• 2008→2024 swing: -5.0pp toward R · 2008: 18.6pp · 2024: 13.6pp
• All cycles: 2024: D+13.6 2020: D+23.1 2016: D+24.6 2012: D+18.2 2008: D+18.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.30%
• Current HPI: 318.563
• Rent YoY: ▼ -4.05%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+575.7% since first listed

3 events — show timeline

• 2026-05-12 Listed $250,000 FSBO.com
• 2019-08-06 Sold (Public Records) $142,500 Public Records
• 2014-03-05 Sold (Public Records) $37,000 Public Records

Property tax history

+10.3%/yr

Latest (2025): $3,601 · +12.7% YoY. Source: county tax records.