8704 Long Boat Ln

Hudson, FL 34667

$205,000C

3 bd · 2.0 ba · 1,413 sqft · Built 1978 · SingleFamily · Active · 207 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,038/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$342
• HOA: −$8
• Vac / Maint / Mgmt: −$428
• Net cashflow: $185/mo
• Annual: $2,221/yr
• Cap rate: 7.38%
• Cash-on-cash: 3.87%
• DSCR: 1.17
• 1% rule: 0.99%
• Cash to close: $57,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $205k. Condition is rated good.
• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (0.6% below list).
• It's been on market 207 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#289 in FL, #4,856 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, employment D, 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: Hudson Primary Academy (math 29% / reading 31%, grade F, #1,882 of 2,144 statewide, top 88%, 647 students, 90% FRL); Hudson Academy (math 35% / reading 30%, grade F, #443 of 571 statewide, top 78%, 964 students, 80% FRL); Hudson High School (math 45% / reading 40%, grade F, #264 of 667 statewide, top 41%, 1,387 students, 66% FRL) — zoned schools average 79% FRL vs 48% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Pasco average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.3%/yr); 1180 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 78d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Cap rate 7.4% vs local median 3.6% in Hudson — 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 $2,038/mo this rent would consume 48% of the median local household income ($51k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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?
• 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?
• 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.