30501 Clearview Dr

Wesley Chapel, FL 33545

$300,000F

2 bd · 2.0 ba · 1,215 sqft · Built 2000 · Other · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,162/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$539
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $-404/mo
• Annual: $-4,845/yr
• Cap rate: 4.68%
• Cash-on-cash: -5.77%
• DSCR: 0.74
• 1% rule: 0.72%
• Cash to close: $84,000

Investor read

• This is a 2-bed/2.0-bath other listed at $300k.
• At list price, monthly cash flow is $-404 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (23.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (27.9% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $216k (27.9% 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 $9k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#143 in FL, #2,137 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: commute F.
• Pasco (suburban): math 50% / reading 52% proficiency, ranked #32 of 73 in FL (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wesley Chapel Elementary School (math 67% / reading 68%, grade B+, #435 of 2,144 statewide, top 21%, 828 students, 37% FRL); Wesley Chapel High School (math 52% / reading 58%, grade C, #135 of 667 statewide, top 20%, 1,826 students, 40% FRL).
• Market conditions: Rents soft (-2.7%/yr); 588 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,765 units permitted in Pasco County in 2024 (1,250 in 5+ unit buildings).
• Pasco County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $20k; list at $300k implies a 1400% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.7% vs local median 3.7% in Wesley Chapel — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.