1507 Meadowridge Dr

Brandon, FL 33596

$291,900D

2 bd · 2.0 ba · 1,596 sqft · Built 1965 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,303/mo
• Mortgage (P&I): −$1,531
• Tax + insurance: −$290
• HOA: −$0
• Vac / Maint / Mgmt: −$484
• Net cashflow: $-2/mo
• Annual: $-19/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• 1% rule: 0.79%
• Cash to close: $81,732

Investor read

• This is a 2-bed/2.0-bath single-family listed at $292k.
• At list price, monthly cash flow is $-2 ($-19/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (21.1% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $230k (21.1% 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 85/100 on livability (#26 in FL, #507 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brooker Elementary School (math 55% / reading 57%, grade C+, #832 of 2,144 statewide, top 40%, 802 students, 48% FRL); Burns Middle School (math 59% / reading 60%, grade B, #140 of 571 statewide, top 25%, 1,202 students, 48% FRL); Bloomingdale High School (math 41% / reading 54%, grade D, #204 of 667 statewide, top 31%, 2,304 students, 45% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 210 active listings in the ZIP; 12 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; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $222k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.