5239 Spring Creek Dr

Plant City, FL 33811

$330,000D-

4 bd · 2.0 ba · 1,848 sqft · Built 1987 · Manufactured · Pending · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,428/mo
• Mortgage (P&I): −$1,731
• Tax + insurance: −$236
• HOA: −$0
• Vac / Maint / Mgmt: −$510
• Net cashflow: $-49/mo
• Annual: $-583/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• 1% rule: 0.74%
• Cash to close: $92,400

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $330k.
• At list price, monthly cash flow is $-49 ($-583/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (26.4% below list).
• It's been on market 72 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $243k (26.4% 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 $10k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#227 in FL, #3,587 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwest Elementary School (math 52% / reading 37%, grade F, #1,288 of 2,144 statewide, top 62%, 382 students, 60% FRL); Sleepy Hill Middle School (math 29% / reading 34%, grade F, #453 of 571 statewide, top 81%, 1,090 students, 66% FRL); George W. Jenkins Senior High (math 25% / reading 49%, grade F, #340 of 667 statewide, top 52%, 2,451 students, 37% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents soft (-0.2%/yr); 363 active listings in the ZIP; solid renter incomes; 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• This rent runs 32% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 72 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• 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.
• 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.