863 Walker Dr #7

University, FL 33613

$39,900B-

2 bd · 1.0 ba · 768 sqft · Built 2025 · Manufactured · Active · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,390/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$66
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $822/mo
• Annual: $9,865/yr
• Cap rate: 31.02%
• Cash-on-cash: 88.30%
• DSCR: 4.93
• 1% rule: 3.48%
• Cash to close: $11,172

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $40k. Condition is rated poor.
• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 199 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#28 in FL, #603 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living 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: Miles Elementary School (math 23% / reading 20%, grade F, #2,091 of 2,144 statewide, top 98%, 675 students, 76% FRL); Buchanan Middle School (math 35% / reading 32%, grade F, #428 of 571 statewide, top 76%, 759 students, 73% FRL); Gaither High School (math 30% / reading 48%, grade F, #312 of 667 statewide, top 48%, 2,123 students, 52% FRL).
• Zoned-school proficiency averages 31% at this address vs 48% district-wide (-17 pts) — the specific schools serving this property underperform the Hillsborough average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 110 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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.
• 2 sale attempts; this cycle's ask is 161% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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.
• Cap rate 31.0% vs local median 3.8% in University — 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.
• This rent runs 38% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Signs of wear and tear
• Major: roof — Aged appearance
• Major: exterior paint — Peeling and chipping