8437 Logia Cir

Greenacres, FL 33472

$335,000D-

3 bd · 2.0 ba · 1,497 sqft · Built 2001 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,204/mo
• Mortgage (P&I): −$1,757
• Tax + insurance: −$547
• HOA: −$652
• Vac / Maint / Mgmt: −$673
• Net cashflow: $-425/mo
• Annual: $-5,098/yr
• Cap rate: 4.77%
• Cash-on-cash: -5.43%
• DSCR: 0.76
• 1% rule: 0.96%
• Cash to close: $93,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $335k.
• At list price, monthly cash flow is $-425 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $320k (4.4% below list).
• It's been on market 22 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $260k (22.4% below list) — sets the bar for cash-flow.
• In year one you build about $3k of equity ($2k loan paydown + $664 appreciation (0.2% local appreciation)).
• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sunset Palms Elementary School (math 80% / reading 79%, grade A, #116 of 2,144 statewide, top 6%, 920 students, 13% FRL); Park Vista Community High School (math 43% / reading 64%, grade C-, #146 of 667 statewide, top 22%, 3,191 students, 28% FRL) — zoned schools average 21% FRL vs 52% district-wide (31 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 20% of rent.
• Market conditions: 173 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $290k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?