3632 Luxor Way

Oakleaf Plantation, FL 32068

$259,990D

3 bd · 2.5 ba · 1,482 sqft · Built 2026 · SingleFamily · Pending · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,277/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$175
• Vac / Maint / Mgmt: −$478
• Net cashflow: $-173/mo
• Annual: $-2,070/yr
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• 1% rule: 0.88%
• Cash to close: $72,797

Investor read

• This is a 3-bed/2.5-bath single-family listed at $260k.
• At list price, monthly cash flow is $-173 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (12.4% below list).
• It's been on market 98 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $228k (12.4% 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 $8k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#446 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Clay (suburban): math 58% / reading 59% proficiency, ranked #14 of 73 in FL (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Tynes Elementary School (math 65% / reading 63%, grade B, #552 of 2,144 statewide, top 26%, 1,021 students, 43% FRL); Oakleaf Junior High (math 50% / reading 54%, grade C+, #217 of 571 statewide, top 40%, 1,118 students, 46% FRL); Ridgeview High School (math 41% / reading 53%, grade D-, #207 of 667 statewide, top 32%, 1,828 students, 46% FRL).
• Market conditions: Rents rising (+3.4%/yr); 601 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 in 5+ unit buildings).
• Clay County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.5% vs local median 4.0% in Oakleaf Plantation — 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.
• This rent runs 32% of the median local income ($84k/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 98 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.