3551 Washington St St · Midway, FL 32771

$129,999

2 bd · 1.0 ba · 972 sqft · SingleFamily public records · 78 Days on market

Built 1935 0.32 ac lot Est $239k · 46% under ↓ 15% since listing

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.0/10.0
• Schools +5.1/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and builders! Prime opportunity in Sanford to secure a 13,939 sq ft oversized lot with endless development potential. This generously sized parcel offers the perfect canvas for new construction, redevelopment, or long-term hold. With nearly 14,000 sq ft of land, there's ample space to maximize your vision, whether you're looking to build a custom home, explore income-producing possibilities, or add to your investment portfolio. Located in a growing area with convenient access to major roadways, shopping, and local amenities, this property is positioned for future appreciation and strong demand. Sold AS-IS. Opportunities like this don't last bring your vision and secure

Key facts

• New construction
• Investment portfolio
• Oversized lot

Tags

• OVERSIZED LOT
• NEW CONSTRUCTION
• DEVELOPMENT POTENTIAL
• INCOME-PRODUCING POSSIBILITIES
• INVESTMENT PORTFOLIO
• GROWING AREA

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Other parking
• Utilities: Public sewer; Sewer available; Water available
• Home design: Single-family residence; Attached property
• Exterior features: Lot of about 0.32 acres

Interior

• Kitchen: No appliances specified
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Fireplace
• Laundry & utility: No laundry appliances specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.1% in Midway — 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.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 561 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.05%
• DSCR: 1.54
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $239,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2236 Sipes Ave	0.28mi	2/2.0	1,056 (+9%)	13mo	$268,000	$254	58
2228 Sipes Ave	0.28mi	2/2.0	1,056 (+9%)	14mo	$258,000	$244	57
2426 Water St	0.37mi	2/2.0	1,070 (+10%)	14mo	$267,000	$250	50
2340 Jitway Ave	0.14mi	3/2.0 (+1)	1,080 (+11%)	21mo	$240,000	$222	49
2480 Randall St	0.43mi	2/2.0	1,070 (+10%)	14mo	$272,000	$254	47
2601 E 20th St	0.56mi	3/1.5 (+1)	960 (-1%)	22mo	$218,000	$227	46
2471 E 20th St	0.66mi	2/1.0	876 (-10%)	12mo	$231,000	$264	43
2840 E 21st St	0.40mi	3/2.0 (+1)	902 (-7%)	22mo	$170,000	$188	42
2517 Daffadil Ter	0.67mi	3/2.0 (+1)	1,097 (+13%)	2mo	$250,000	$228	36
2493 Daffadil Ter	0.70mi	3/2.0 (+1)	1,099 (+13%)	1mo	$270,000	$246	35
2524 Daffadil Ter	0.70mi	3/2.0 (+1)	1,099 (+13%)	7mo	$260,900	$237	31
2469 Daffadil Ter	0.74mi	3/2.0 (+1)	1,099 (+13%)	24mo	$289,800	$264	15

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.38% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,782
• Equity at exit: $19,383

10-year hold

• IRR: 5.4%
• Equity multiple: 1.35×
• Total profit: $12,851
• Equity at exit: $11,240

Cash invested: $36,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32771

• Rents YoY: 0.4%
• Active inventory: 561
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,559 high
• Mortgage (P&I): −$682
• Tax from tax record: −$130 /mo · $1,561/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $366

Break-even live

Break-even rent $1,096

Max offer price $129,999

Occupancy floor 72%

Sensitivity live

Price	-10% $439	-5% $402	+0% $366	+5% $329	+10% $292
Rent	-10% $242	-5% $304	+0% $366	+5% $427	+10% $489
Rate	-1.0pp $431	-0.5pp $399	base $366	+0.5pp $332	+1.0pp $298

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3320 Lincoln St Sanford, FL	2.0	1.0	648	$700	$1.08	24d	1	0.21mi
2340 Broadway St Sanford, FL	3.0	1.0	1084	$800	$0.74	18d	1	0.23mi
2441 Church St Sanford, FL	3.0	1.0	1057	$1,550	$1.47	24d	1	0.47mi
2561 Daffadil Ter Sanford, FL	3.0	2.0	1099	$1,900	$1.73	24d	1	0.74mi
2628 Daffadil Ter Sanford, FL	3.0	2.0	1099	$1,995	$1.82	5d	1	0.75mi
2420 Daffadil Ter Sanford, FL	3.0	2.0	1097	$1,850	$1.69	18d	1	0.83mi
1711 Roseberry Ln Sanford, FL	3.0	2.0	984	$2,150	$2.18	5d	1	1.25mi
131 Langston Dr Sanford, FL	3.0	1.5	1082	$1,697	$1.57	20d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $129,999 Active 78 DOM
2. 2026-06-17
   days on market $129,999 Active 77 DOM
3. 2026-06-16
   days on market $129,999 Active 76 DOM
4. 2026-06-15
   days on market $129,999 Active 75 DOM
5. 2026-06-13
   days on market $129,999 Active 73 DOM
6. 2026-06-09
   days on market $129,999 Active 69 DOM
7. 2026-06-08
   days on market $129,999 Active 68 DOM
8. 2026-06-07
   days on market $129,999 Active 67 DOM
9. 2026-06-04
   days on market $129,999 Active 64 DOM
10. 2026-06-03
    days on market $129,999 Active 63 DOM
11. 2026-06-02
    days on market $129,999 Active 62 DOM
12. 2026-06-01
    days on market $129,999 Active 61 DOM
13. 2026-05-31
    days on market $129,999 Active 60 DOM
14. 2026-05-12
    price $129,999
15. 2026-04-17
    status Active
16. 2026-04-16
    status Pending
17. 2026-03-31
    listed $153,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,561 · $130/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,707
• − Mortgage interest: −$7,282
• − Property taxes: −$1,561
• − Insurance: −$650
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$3,782
• Taxable income: $2,439
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $3,802/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Midway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Midway, FL
• County: Seminole County · 436,154 people
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 62,606
• Household income: $77,868
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 2645.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 43% Black 24% Hispanic / Latino 23% Two or more races 13% Asian 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Cuban 2% Dominican 2%
• Common ancestry: Romanian 2% Slovak 1% Italian 1%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 15% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -281.27%
• Current HPI: 299.2738
• Rent YoY: ▲ 0.38%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-15.0% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $129,999 realMLS
• 2026-04-17 Relisted — realMLS
• 2026-04-16 Pending — realMLS
• 2026-03-31 Listed $153,000 realMLS

Property tax history

+10.0%/yr

Latest (2025): $1,561 · -7.2% YoY. Source: county tax records.