732 Mcdougall Ct #732

Sky Lake, FL 32809

$135,000D+

3 bd · 2.0 ba · 700 sqft · Built 1976 · Condo · Active · 311 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,521/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$186
• HOA: −$250
• Vac / Maint / Mgmt: −$319
• Net cashflow: $58/mo
• Annual: $691/yr
• Cap rate: 6.80%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• 1% rule: 1.13%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath condo listed at $135k.
• At list price, monthly cash flow is $58 ($691/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 311 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#52 in FL, #916 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• 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.
• Zoned schools: Winegard Elementary (math 36% / reading 33%, grade F, #1,709 of 2,144 statewide, top 81%, 658 students, 75% FRL); Oak Ridge High (math 17% / reading 27%, grade F, #544 of 667 statewide, top 82%, 2,477 students, 66% FRL).
• Zoned-school proficiency averages 28% at this address vs 48% district-wide (-20 pts) — the specific schools serving this property underperform the Orange average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.1%/yr); 130 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 8,053 units permitted in Orange County in 2024 (3,133 in 5+ unit buildings).
• Orange County population projected at +52% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $78k; list at $135k implies a 73% gain — meaningful room to come down on a strong offer.
• This rent runs 32% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 311 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 A-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?