3845 N Quarters Rd

Okahumpka, FL 34762

$169,990C+

2 bd · 1.0 ba · 816 sqft · Built 1959 · SingleFamily · Pending · 172 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,720/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $292/mo
• Annual: $3,507/yr
• Cap rate: 8.36%
• Cash-on-cash: 7.37%
• DSCR: 1.33
• 1% rule: 1.01%
• Cash to close: $47,597

Investor read

• This is a 2-bed/1.0-bath single-family listed at $170k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• It's been on market 172 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.9% local appreciation)).
• Location reads 44/100 on livability (#901 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 96 active listings in the ZIP; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $40k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $106k; list at $170k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-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.
• 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.