312 Salisbury Cir

White City, FL 34982

$280,000D-

3 bd · 2.5 ba · 1,486 sqft · Built 2024 · SingleFamily · Active · 138 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,485/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$539
• HOA: −$157
• Vac / Maint / Mgmt: −$522
• Net cashflow: $-202/mo
• Annual: $-2,420/yr
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• 1% rule: 0.89%
• Cash to close: $78,400

Investor read

• This is a 3-bed/2.5-bath single-family listed at $280k.
• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (11.3% below list).
• It's been on market 138 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (12.7% below list) — sets the bar for cash-flow.
• 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 77/100 on livability (#209 in FL, #3,227 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, health & safety D-.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Savanna Ridge Elementary School (math 40% / reading 45%, grade F, #1,383 of 2,144 statewide, top 65%, 452 students, 75% FRL); Port St. Lucie High School (math 21% / reading 43%, grade F, #415 of 667 statewide, top 63%, 1,748 students, 67% FRL).
• Market conditions: Rents rising fast (+7.4%/yr); 336 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.4% vs local median 3.7% in White City — 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.
• At $2,485/mo this rent would consume 55% of the median local household income ($54k/yr) (locally 1086% 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?
• It's been on market 138 days. Have you received any prior offers? Is the seller open to a 13% 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.
• Schools are D-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.