Public acquisition research

Florida Residential Investment Watch

October 3 2026 statewide baseline
22 Florida metro areas · Duplexes triplexes fourplexes and single family homes
Research and conditional screening only · No purchase or legal clearance

Executive summary

Current stance: WATCH statewide. No property is cleared to buy. This October 3, 2026 baseline covers all 22 current Florida metropolitan statistical areas and creates a separate statewide history. The acquisition decision is whether ordinary annual rent can support the price after realistic costs and debt. No appreciation, refinancing, rent growth, seasonal income or unapproved extra units are required or credited.

Sources: [RDC_S]; [FR_SFR]; [S01].

No Best Conventional SFR, Best House Hack or Best Flexible Strategy SFR is awarded. Six portal-active SFR screens and one availability-conflicted reserve are documented. Alternative strategies receive no added income, score or price premium. The base annual rental must work first.

Coverage and evidence standards

Evidence labels used throughout
LabelMeaning
ObservedA dated public source value, official record or visible page status. An assessor record is not a legal opinion.
Listing claimSeller or portal facts, asking price, advertised rent, condition, utilities, HOA or occupancy. No executed leases or collections were verified.
ModeledArithmetic using explicitly stated analyst inputs. Insurance, vacancy, repairs and most post-sale tax are budgets.
Unverified or not availableEvidence was not established. A blank is not zero, a permit was not proven absent, and no estimate is silently substituted.

The 22-MSA spine preserves current Census county components and CBSA IDs. County-level costs and municipal use rules are labeled separately. Zillow metros are mapped by provider name; exact boundary vintage was not verified. Florida Realtors uses 2013 MSA definitions: Gainesville excludes Levy County and Panama City uses Bay and Gulf instead of current Bay and Washington. Do not use those two sale medians as exact current-MSA medians. Nonmetro Florida, including Monroe/Key West, is not represented by a standalone MSA row; it remains outside the quantitative ranking. State totals include nonmetro areas.

There is no complete available-listing census for legal two-, three- or four-unit properties. Counts in property tables are examined records only. No verified metro 3–5-bedroom entry-price distribution or executed per-bedroom rental series was obtained. Market rent indexes are context, never multiplied by units or bedrooms to invent a rent roll. Current matched effective rents, concessions outside four covered metros, small-multifamily vacancy, deliveries, construction pipeline, household-growth observations and metro final-sale-to-list ratios are missing.

HUD FY2027 fair-market rents became effective October 1, 2026, subject to valid area reevaluation requests. They are 40th-percentile gross-rent program benchmarks including utilities, not achievable subject rent or guaranteed voucher income. No FMR value is used in acquisition underwriting; local payment standards, utility allowance and rent reasonableness would need separate review. Concession-adjusted effective rent is not inferred from asking rent. Sources: [HUD_FMR27]; [HUD_SCHEDULE27].

No 2025 ACS household-growth observation is assumed available: Census announced that release timing was being determined during disclosure-avoidance review. The population series is explicitly a proxy, and household growth remains missing. Sources: [ACS_TIMING].

Statewide market conditions

Florida source periods are intentionally separate
MetricValuePeriod and scope
Residential active listings146,478; −9.55% YoYSeptember 2026 Realtor.com Florida listing mix
Median asking price$409,950; −3.54% YoYSeptember 2026; not closed price
Median asking price per square foot$249; −3.78% YoYSeptember 2026; all covered listing types, not investment-grade 3–5BR
Listing time and reductions81 days; monthly reduced share 20.14%September 2026; provider definitions
Closed SFR price and supply$415,000; +1.2% YoY; 4.3 monthsAugust 2026 Florida Realtors SFR
SFR original list price received96.0%; median time to contract 44 daysAugust 2026 statewide; not metro final-list ratio
Condo and townhouse context$298,000; +2.8% YoY; 7.7 months supplyAugust 2026; not apartment-building values
Employment contextPayroll jobs +0.6% YoY; unemployment 4.6% versus 4.3%August 2026 BLS, not seasonally adjusted; preliminary
Foreclosure contextOne housing unit with a filing per 2,397; 3,189 startsAugust 2026 ATTOM state measure; filings are not unique discounted listings

Sources: [RDC_S]; [FR_SFR]; [FR_CONDO]; [BLS]; [ATTOM].

Twenty two metro price rent and buyer leverage

Pricing and annual asking rent context
MetroSFR sold median AugZHVI Aug and YoYSFR ZORI Aug and YoY5 plus unit ZORI Aug and YoYStance
Miami-Fort Lauderdale-West Palm Beach, FL$658,000$475,830 / -0.5%$3,436 / 2.6%$2,468 / 1.2%WATCH; no marketwide Buy clearance
Tampa-St. Petersburg-Clearwater, FL$410,000$358,706 / -1.5%$2,410 / 1.4%$1,793 / -1.2%WATCH; no marketwide Buy clearance
Orlando-Kissimmee-Sanford, FL$439,000$383,445 / -1.8%$2,452 / 1.7%$1,771 / -0.3%WATCH; no marketwide Buy clearance
Jacksonville, FL$405,000$350,783 / -0.5%$2,075 / 2.5%$1,522 / 1.1%WATCH; no marketwide Buy clearance
North Port-Bradenton-Sarasota, FL$485,000$402,040 / -3.1%$2,541 / 0.8%$1,856 / -2.3%WATCH; no marketwide Buy clearance
Cape Coral-Fort Myers, FL$380,000$335,410 / -4.4%$2,154 / -0.0%$1,664 / -1.7%WATCH; no marketwide Buy clearance
Lakeland-Winter Haven, FL$327,000$295,821 / -2.4%$2,099 / 2.6%$1,587 / 0.1%WATCH; no marketwide Buy clearance
Deltona-Daytona Beach-Ormond Beach, FL$360,000$330,389 / -0.9%$2,147 / 3.1%$1,576 / -0.4%WATCH; no marketwide Buy clearance
Palm Bay-Melbourne-Titusville, FL$375,000$341,944 / -0.9%$2,255 / 2.6%$1,665 / -0.2%WATCH; no marketwide Buy clearance
Port St. Lucie, FL$430,000$381,749 / -1.3%$2,681 / 2.8%$2,076 / 2.2%WATCH; no marketwide Buy clearance
Pensacola-Ferry Pass-Brent, FL$332,900$310,111 / 1.4%$1,948 / 2.0%$1,592 / 2.7%WATCH; no marketwide Buy clearance
Ocala, FL$289,000$269,193 / -2.3%$1,770 / 1.0%$1,459 / -1.2%WATCH; no marketwide Buy clearance
Naples-Marco Island, FL$760,000$550,720 / -2.4%$3,465 / 4.2%$2,200 / -0.2%WATCH; no marketwide Buy clearance
Tallahassee, FL$349,950$284,218 / 1.1%$1,650 / 1.9%$1,347 / 1.0%WATCH; no marketwide Buy clearance
Gainesville, FL$352,995 †$302,455 / -1.0%$2,001 / 2.9%$1,553 / 0.8%WATCH; no marketwide Buy clearance
Crestview-Fort Walton Beach-Destin, FL$435,000$438,425 / 0.4%$2,182 / 3.2%$1,774 / 1.1%WATCH; no marketwide Buy clearance
Panama City-Panama City Beach, FL$365,000 †$344,018 / -0.4%$2,110 / 1.6%$1,581 / 0.5%WATCH; no marketwide Buy clearance
Punta Gorda, FL$350,000$297,279 / -4.9%$2,087 / 1.0%$1,544 / -2.1%WATCH; no marketwide Buy clearance
Sebastian-Vero Beach-West Vero Corridor, FL$410,000$364,169 / -1.5%$2,330 / 5.5%$1,847 / -0.9%WATCH; no marketwide Buy clearance
Homosassa Springs, FL$270,990$271,612 / -1.1%$1,774 / 1.8%$1,297 / 1.5%WATCH; no marketwide Buy clearance
Wildwood-The Villages, FL$382,000$388,139 / -0.8%$1,962 / 4.2%$1,579 / 4.8%WATCH; no marketwide Buy clearance
Sebring, FL$271,900$233,314 / -1.5%$1,616 / 0.7%$1,161 / 3.3%WATCH; no marketwide Buy clearance

† The Florida Realtors 2013 sale geography differs materially from the current MSA. ZHVI is a modeled typical home value, not a purchase price. ZORI is a stock-weighted asking-rent index: the SFR series is not bedroom-specific and the MFR series covers 5+ unit rental buildings, not duplexes, triplexes or fourplexes. Neither deducts concessions. All dollar rent indexes are monthly.

Sources: [FR_MSA]; [ZHVI]; [ZORI_SFR]; [ZORI_MFR].

September residential resale leverage
MetroActive listings and YoYMedian list price and YoYDOMMonthly cut sharePending to active
Miami-Fort Lauderdale-West Palm Beach, FL41,277 / -12.3%$490,000 / -2.0%8514.9%0.227
Tampa-St. Petersburg-Clearwater, FL17,965 / -3.8%$385,398 / -6.6%7627.5%0.292
Orlando-Kissimmee-Sanford, FL13,869 / 0.3%$410,000 / -2.5%7722.7%0.319
Jacksonville, FL7,799 / -13.7%$379,000 / -3.9%6624.8%0.429
North Port-Bradenton-Sarasota, FL6,905 / -14.5%$457,450 / -3.7%8818.1%0.398
Cape Coral-Fort Myers, FL9,173 / -14.1%$379,900 / -5.0%9119.3%0.248
Lakeland-Winter Haven, FL4,801 / 0.7%$329,000 / -3.2%8023.4%0.343
Deltona-Daytona Beach-Ormond Beach, FL5,472 / -12.3%$374,950 / -3.1%7822.9%0.278
Palm Bay-Melbourne-Titusville, FL3,554 / -14.9%$369,775 / -2.4%6824.2%0.365
Port St. Lucie, FL3,905 / -9.1%$429,000 / -0.8%8019.4%0.313
Pensacola-Ferry Pass-Brent, FL2,937 / -6.8%$363,600 / 0.4%7219.0%0.447
Ocala, FL3,468 / -12.5%$299,900 / 0.0%7721.0%0.318
Naples-Marco Island, FL4,523 / -14.5%$676,694 / -1.9%10112.3%0.231
Tallahassee, FL1,384 / 5.9%$337,000 / -0.6%6016.1%0.346
Gainesville, FL1,423 / -0.9%$335,000 / 1.4%8221.6%0.305
Crestview-Fort Walton Beach-Destin, FL4,194 / -10.4%$595,000 / -1.6%9818.9%0.233
Panama City-Panama City Beach, FL2,933 / -4.7%$399,000 / -3.4%10120.9%0.213
Punta Gorda, FL2,655 / -23.1%$360,000 / -5.0%8718.8%0.282
Sebastian-Vero Beach-West Vero Corridor, FL1,315 / -16.8%$421,950 / -0.7%8714.7%0.313
Homosassa Springs, FL1,529 / -15.0%$299,950 / -4.5%8720.9%0.322
Wildwood-The Villages, FL593 / -7.7%$388,925 / 4.4%5920.8%0.427
Sebring, FL917 / 15.3%$284,950 / -6.1%8020.5%0.233

These counts cover the Realtor.com residential listing mix, not exact small-multifamily inventory. DOM is provider listing-to-close/removal time, not time to first contract. The price-reduced share is the native provider monthly measure; it is not cumulative listing cuts and is not computed by dividing reductions by the active snapshot. A consistent current metro sale-to-final-list series was not obtained. No zero values are imputed.

Sources: [RDC_M]; [RDC_REPORT].

Demand construction vacancy and concessions

Population labor and authorized housing supply
MetroPopulation July 2025 and YoYPayroll jobs YoY Aug 2026Unemployment Aug 2026Jan to Aug permits 1 unit / 2 unit / 3 to 4 unit / 5 plusTotal permits YoY
Miami-Fort Lauderdale-West Palm Beach, FL6,391,072 / -0.1%0.4%3.7%4,569 / 332 / 130 / 9,875-0.8%
Tampa-St. Petersburg-Clearwater, FL3,418,895 / 0.4%0.9%4.7%9,484 / 88 / 56 / 5,470-7.9%
Orlando-Kissimmee-Sanford, FL2,957,672 / 1.3%0.8%4.6%8,997 / 120 / 236 / 4,127-33.1%
Jacksonville, FL1,785,500 / 1.5%0.1%4.8%6,625 / 52 / 7 / 1,985-10.0%
North Port-Bradenton-Sarasota, FL948,158 / 1.4%1.0%4.9%7,006 / 50 / 76 / 1,747-13.8%
Cape Coral-Fort Myers, FL875,607 / 1.6%0.5%5.2%5,267 / 104 / 32 / 2,436-22.5%
Lakeland-Winter Haven, FL874,790 / 2.7%1.3%5.6%4,584 / 52 / 0 / 192-21.2%
Deltona-Daytona Beach-Ormond Beach, FL746,933 / 1.3%0.9%5.3%2,641 / 80 / 3 / 305-23.1%
Palm Bay-Melbourne-Titusville, FL663,982 / 1.2%0.5%4.8%2,483 / 0 / 9 / 72912.6%
Port St. Lucie, FL568,721 / 2.1%0.5%5.2%3,044 / 36 / 12 / 24-14.8%
Pensacola-Ferry Pass-Brent, FL544,949 / 0.9%-0.2%4.9%2,660 / 22 / 0 / 13822.7%
Ocala, FL442,660 / 3.4%1.2%5.7%3,985 / 68 / 0 / 0-10.0%
Naples-Marco Island, FL417,131 / 0.1%1.4%5.0%1,490 / 2 / 8 / 97214.8%
Tallahassee, FL397,442 / 0.4%1.3%4.9%807 / 14 / 0 / 683-19.5%
Gainesville, FL359,036 / 0.5%0.6%5.4%839 / 26 / 8 / 1,08222.6%
Crestview-Fort Walton Beach-Destin, FL315,098 / 1.6%0.4%4.3%2,143 / 74 / 8 / 3855.8%
Panama City-Panama City Beach, FL231,174 / 2.0%1.8%4.5%1,335 / 12 / 6 / 150-6.7%
Punta Gorda, FL217,212 / 2.7%0.0%5.9%2,225 / 42 / 38 / 10712.3%
Sebastian-Vero Beach-West Vero Corridor, FL172,799 / 0.7%-0.2%5.6%113 / 2 / 0 / 204163.6%
Homosassa Springs, FL171,666 / 1.1%-0.5%6.7%1,254 / 14 / 3 / 0-9.4%
Wildwood-The Villages, FL157,772 / 2.3%0.7%7.9%2,742 / 98 / 0 / 2619.4%
Sebring, FL111,122 / 1.1%0.7%6.8%435 / 6 / 0 / 0-17.7%

Permits are housing units authorized, not buildings, starts, completions, deliveries or an active construction pipeline. The 3–4-unit source bin cannot separate triplex from fourplex construction. Current delivery and under-construction series were not consistently available. Population growth is a labeled demand proxy; household formation was not measured. Payroll workplace jobs and resident unemployment use different denominators. August labor figures are preliminary and not seasonally adjusted.

Sources: [BLS]; [CENSUS_POP]; [BPS_cbsa2608y.txt]; [BPS_cbsa2508y.txt]; [BPS_cbsa2025a.txt]; [BPS_cbsa2608c.txt].

Limited vacancy and concession context
MetroHVS rental vacancy 202590 percent margin of error2024 vacancyAug 2026 mixed 0 to 2BR rentConcession listing share
Miami-Fort Lauderdale-West Palm Beach, FL8.3%±1.5 pp9.5%$2,27128.1%
Tampa-St. Petersburg-Clearwater, FL11.2%±2.6 pp8.7%$1,63463.9%
Orlando-Kissimmee-Sanford, FL9.4%±2.4 pp9.4%$1,67258.5%
Jacksonville, FL9.8%±3.3 pp8.8%$1,47863.2%
North Port-Bradenton-Sarasota, FL16.6%±7.1 pp10.1%Not establishedNot available
Cape Coral-Fort Myers, FL10.7%±7.0 pp10.1%Not establishedNot available
Lakeland-Winter Haven, FLNot availableNot publishedNot availableNot establishedNot available
Deltona-Daytona Beach-Ormond Beach, FLNot availableNot publishedNot availableNot establishedNot available
Palm Bay-Melbourne-Titusville, FLNot availableNot publishedNot availableNot establishedNot available
Port St. Lucie, FLNot availableNot publishedNot availableNot establishedNot available
Pensacola-Ferry Pass-Brent, FLNot availableNot publishedNot availableNot establishedNot available
Ocala, FLNot availableNot publishedNot availableNot establishedNot available
Naples-Marco Island, FLNot availableNot publishedNot availableNot establishedNot available
Tallahassee, FLNot availableNot publishedNot availableNot establishedNot available
Gainesville, FLNot availableNot publishedNot availableNot establishedNot available
Crestview-Fort Walton Beach-Destin, FLNot availableNot publishedNot availableNot establishedNot available
Panama City-Panama City Beach, FLNot availableNot publishedNot availableNot establishedNot available
Punta Gorda, FLNot availableNot publishedNot availableNot establishedNot available
Sebastian-Vero Beach-West Vero Corridor, FLNot availableNot publishedNot availableNot establishedNot available
Homosassa Springs, FLNot availableNot publishedNot availableNot establishedNot available
Wildwood-The Villages, FLNot availableNot publishedNot availableNot establishedNot available
Sebring, FLNot availableNot publishedNot availableNot establishedNot available

The six HVS observations cover all rental types and older metro boundaries, with large sampling margins. The 2025 annual table uses 11 collected months and excludes October; the annual-table geography note takes precedence over conflicting older MOE workbook wording. Exact boundary comparability is unverified. These observations do not determine the 8% property model assumption or earn vacancy points. Realtor.com concessions cover 0–2-bedroom apartments and private homes in four metros, not 3–5BR SFR or small-MF effective rent. A concession share measures incidence, not its dollar cost.

Sources: [RDC_RENT]; [HVS_RATE]; [HVS_MOE].

Distress coverage is insufficient for a comparable 22-market ranking. Punta Gorda had one housing unit with a foreclosure filing per 1,249 in the August 2026 ATTOM source. Other metro values are withheld. A foreclosure filing is neither a finished foreclosure nor a property that can be bought at a discount. Short sales and REO require separate title, lien, condition, possession and financeability work.

What is improving and deteriorating

These arrows describe measured annual asking-rent-growth acceleration, not changes versus an earlier statewide report or broad changes in investment quality. Metric = August 2026 year-over-year growth minus August 2025 year-over-year growth, in percentage points, calculated from one downloaded vintage. A market can have rising acceleration while rents still decline. The first statewide month-to-month comparison is not yet available.

Single family five fastest improving
MetroAug 2026 rent growth YoYAug 2025 rent growth YoYAcceleration
Naples-Marco Island, FL4.2%-2.4%↑ 6.63 pp
Sebastian-Vero Beach-West Vero Corridor, FL5.5%0.9%↑ 4.54 pp
Wildwood-The Villages, FL4.2%1.1%↑ 3.15 pp
Cape Coral-Fort Myers, FL-0.0%-2.5%↑ 2.44 pp
Crestview-Fort Walton Beach-Destin, FL3.2%0.9%↑ 2.37 pp
Single family five fastest deteriorating
MetroAug 2026 rent growth YoYAug 2025 rent growth YoYAcceleration
Tallahassee, FL1.9%3.6%↓ -1.65 pp
Tampa-St. Petersburg-Clearwater, FL1.4%2.8%↓ -1.34 pp
Sebring, FL0.7%1.6%↓ -0.91 pp
Ocala, FL1.0%1.4%↓ -0.45 pp
Pensacola-Ferry Pass-Brent, FL2.0%2.4%↓ -0.36 pp
Five plus unit apartment proxy five fastest improving
MetroAug 2026 rent growth YoYAug 2025 rent growth YoYAcceleration
Wildwood-The Villages, FL4.8%-3.2%↑ 8.04 pp
Naples-Marco Island, FL-0.2%-4.3%↑ 4.07 pp
Cape Coral-Fort Myers, FL-1.7%-5.0%↑ 3.37 pp
Crestview-Fort Walton Beach-Destin, FL1.1%-2.0%↑ 3.11 pp
Pensacola-Ferry Pass-Brent, FL2.7%-0.2%↑ 2.89 pp
Five plus unit apartment proxy five fastest deteriorating
MetroAug 2026 rent growth YoYAug 2025 rent growth YoYAcceleration
Sebastian-Vero Beach-West Vero Corridor, FL-0.9%3.4%↓ -4.27 pp
Ocala, FL-1.2%1.7%↓ -2.92 pp
Tampa-St. Petersburg-Clearwater, FL-1.2%1.2%↓ -2.38 pp
Homosassa Springs, FL1.5%3.5%↓ -2.08 pp
Gainesville, FL0.8%2.3%↓ -1.49 pp

Sources: [ZORI_SFR]; [ZORI_MFR].

The requested 100 point framework

Weight and evidence coverage
ComponentRequested pointsCovered pointsMeasurement or gap
Yield and debt resilience250Property net income, debt, condition and fully priced risk are not established marketwide
Tenant demand1515Type-specific rent growth 10; payroll growth 5, both proxies
Buyer leverage1515Residential monthly cut share 7.5; pending/active ratio 7.5
Supply and vacancy1510 generallyRelevant permits per population 5; permit trend 5; current matched vacancy 5 missing
Insurance flood and climate burden150No comparable property insurance/risk clearance; county averages are context
Employment and household growth1010 proxyPopulation growth 5 substitutes explicitly for missing household growth; unemployment 5
Resale liquidity and inventory55 proxyResidential DOM, with inventory shown separately
Total10055 generally; 50 in three apartment proxiesMissing-data intervals are not statistical confidence intervals

Points are analyst judgments, not provider ratings or a backtested investment model. Payroll and unemployment can covary; demand and buyer leverage deliberately express different tradeoffs. No market score is normalized to 100. Markets are ordered by earned common points, then liquidity, demand and name. Pensacola, Sebastian–Vero Beach and Sebring apartment proxies have a different denominator because prior-year 5+ permits were zero; its percent change is undefined and they are not directly rank-comparable.

Combined small multifamily research priorities using apartment context
Research orderMetroEarned / coveredPossible 100 point envelopeDemand / leverage / supply known / growth / liquidity
1Wildwood-The Villages, FL40 / 5540–8513 / 9 / 10 / 5 / 3
2Port St. Lucie, FL38 / 5538–8311 / 9 / 10 / 7 / 1
3Lakeland-Winter Haven, FL36.5 / 5536.5–81.58 / 10.5 / 10 / 7 / 1
4Ocala, FL34.5 / 5534.5–79.56 / 10.5 / 10 / 7 / 1
5Panama City-Panama City Beach, FL34.5 / 5534.5–79.58 / 10.5 / 8 / 8 / 0
6Homosassa Springs, FL32.5 / 5532.5–77.57 / 10.5 / 10 / 4 / 1
7Tallahassee, FL32 / 5532–7710 / 9 / 6 / 4 / 3
8Jacksonville, FL31 / 5531–768 / 9 / 6 / 6 / 2
9Crestview-Fort Walton Beach-Destin, FL31 / 5531–768 / 9 / 7 / 7 / 0
10Deltona-Daytona Beach-Ormond Beach, FL30.5 / 5530.5–75.55 / 10.5 / 9 / 5 / 1
11Orlando-Kissimmee-Sanford, FL29.5 / 5529.5–74.55 / 10.5 / 7 / 6 / 1
12Tampa-St. Petersburg-Clearwater, FL28 / 5528–735 / 12 / 6 / 4 / 1
13Punta Gorda, FL28 / 5528–733 / 9 / 8 / 7 / 1
14North Port-Bradenton-Sarasota, FL27.5 / 5527.5–72.56 / 7.5 / 7 / 6 / 1
15Miami-Fort Lauderdale-West Palm Beach, FL25.5 / 5525.5–70.58 / 7.5 / 5 / 4 / 1
16Palm Bay-Melbourne-Titusville, FL25 / 5525–705 / 9 / 3 / 6 / 2
17Cape Coral-Fort Myers, FL24 / 5524–695 / 9 / 4 / 6 / 0
18Gainesville, FL23.5 / 5523.5–68.57 / 10.5 / 1 / 4 / 1
19Naples-Marco Island, FL18.5 / 5518.5–63.56 / 7.5 / 1 / 4 / 0
Unranked 50 point coveragePensacola-Ferry Pass-Brent, FL27.5 / 5027.5–77.59 / 7.5 / 4 / 5 / 2
Unranked 50 point coverageSebastian-Vero Beach-West Vero Corridor, FL17.5 / 5017.5–67.53 / 7.5 / 2 / 4 / 1
Unranked 50 point coverageSebring, FL33.5 / 5033.5–83.513 / 10.5 / 5 / 4 / 1
Separate requested investment rankings
Property typeInvestment rank statusWhy the ranking is withheld
DuplexNot computableNo representative legal-unit acquisition/rent/cost sample or current type vacancy across markets
TriplexNot computableZero legally qualified acquisitions; two usable conditional rent inputs, legal and cost gates open
FourplexNot computableZero legally qualified acquisitions; three conditional income scenarios, other rent rolls missing
Combined small multifamilyNot computable as a full investment rankThe ordered partial context above is shared research triage, not a duplex/triplex/fourplex return score

A separate price and underwriting table for each unit count follows. Copying the same apartment-proxy ordering into three type rankings would create false precision, so no such rankings are asserted. The full rubric and every input are in the public data package.

Separate duplex triplex and fourplex market screens

All examined examples are a small purposive sample. Active-market available counts, legal market counts, representative acquisition medians and recent comparable-sale distributions are unknown. A zero examined count below means no retained example, not no supply. Each property uses ordinary annual rent only. The shared vacancy assumption is 8%; maintenance is 7% of scheduled rent; management is 10% of effective income; replacement reserve is 5% below NOI. OER, NOI, cap rate, DSCR and BEO are property-specific and appear in the following tables and cards.

Duplex market coverage and acquisition evidence
MetroExamined countObserved asking basisModeled rent per unit per monthModeled NOI and capStance
Miami-Fort Lauderdale-West Palm Beach, FL1 examined; 0 legal cleared$639,000$2,550D04: $20,710 / 3.2%WATCH; conditional only
Orlando-Kissimmee-Sanford, FL1 examined; 0 legal cleared$540,000$1,800D02: $13,802 / 2.6%WATCH; conditional only
Jacksonville, FL1 examined; 0 legal cleared$210,000$950D01: $4,682 / 2.2%WATCH; conditional only
Cape Coral-Fort Myers, FL1 examined; 0 legal cleared$499,000$1,650D03: $13,137 / 2.6%WATCH; conditional only
Pensacola-Ferry Pass-Brent, FL1 examined; 0 legal cleared$252,000$1,050D05: $4,562 / 1.8%WATCH; conditional only
Other 17 MSAs0 retained; market inventory unknownNot establishedNot establishedNot modeledWATCH; data gaps

No retained duplex acquisition sample in: Tampa-St. Petersburg-Clearwater, FL; North Port-Bradenton-Sarasota, FL; Lakeland-Winter Haven, FL; Deltona-Daytona Beach-Ormond Beach, FL; Palm Bay-Melbourne-Titusville, FL; Port St. Lucie, FL; Ocala, FL; Naples-Marco Island, FL; Tallahassee, FL; Gainesville, FL; Crestview-Fort Walton Beach-Destin, FL; Panama City-Panama City Beach, FL; Punta Gorda, FL; Sebastian-Vero Beach-West Vero Corridor, FL; Homosassa Springs, FL; Wildwood-The Villages, FL; Sebring, FL.

Duplex comparable model at asking price
PropertyAsk / unitAnnual scheduled potentialOER / NOICap / after reserve yieldAfter reserve DSCR / BEO85 percent ceiling
1811/1815 Whitner Street, Jacksonville, FL 32209$105,000$22,80077.7% / $4,6822.2% / 1.7%0.24x / 145.6%$70,693
6600/6602 Pot O Gold Lane, Orlando, FL 32809$270,000$43,20065.3% / $13,8022.6% / 2.2%0.31x / 158.2%$197,800
1010/1012 Gerald Avenue, Lehigh Acres, FL 33936$249,500$39,60063.9% / $13,1372.6% / 2.2%0.32x / 157.6%$198,462
1255 NE 110th Terrace, Miami, FL 33161$319,500$61,20063.2% / $20,7103.2% / 2.8%0.40x / 140.2%$285,717
3701 W Brainerd Street A & B, Pensacola, FL 32505$126,000$25,20080.3% / $4,5621.8% / 1.3%0.19x / 154.3%$75,716

All legal-unit approvals remain unverified. Averages per unit conceal the stated unit mix. Where rents or occupancy are contradictory, the model is withheld; this is not a zero NOI. Every numeric ceiling is a conditional income screen, before capital work and unresolved charges. Tallahassee Sutor figures are a full-lease-up scenario, not its current three-unit income.

Triplex market coverage and acquisition evidence
MetroExamined countObserved asking basisModeled rent per unit per monthModeled NOI and capStance
Miami-Fort Lauderdale-West Palm Beach, FL2 examined; 0 legal cleared$709,500–$769,000$1,653–$1,733T01: $12,336 / 1.6%; T02: $15,691 / 2.2%WATCH; conditional only
Tampa-St. Petersburg-Clearwater, FL1 examined; 0 legal cleared$440,000WithheldT03: Withheld / WithheldWATCH; conditional only
Jacksonville, FL1 examined; 0 legal cleared$109,999WithheldT04: Withheld / WithheldWATCH; conditional only
Other 19 MSAs0 retained; market inventory unknownNot establishedNot establishedNot modeledWATCH; data gaps

No retained triplex acquisition sample in: Orlando-Kissimmee-Sanford, FL; North Port-Bradenton-Sarasota, FL; Cape Coral-Fort Myers, FL; Lakeland-Winter Haven, FL; Deltona-Daytona Beach-Ormond Beach, FL; Palm Bay-Melbourne-Titusville, FL; Port St. Lucie, FL; Pensacola-Ferry Pass-Brent, FL; Ocala, FL; Naples-Marco Island, FL; Tallahassee, FL; Gainesville, FL; Crestview-Fort Walton Beach-Destin, FL; Panama City-Panama City Beach, FL; Punta Gorda, FL; Sebastian-Vero Beach-West Vero Corridor, FL; Homosassa Springs, FL; Wildwood-The Villages, FL; Sebring, FL.

Triplex comparable model at asking price
PropertyAsk / unitAnnual scheduled potentialOER / NOICap / after reserve yieldAfter reserve DSCR / BEO85 percent ceiling
4265 SW 51st Street #1-3, Dania Beach, FL 33314$256,333$59,52077.5% / $12,3361.6% / 1.2%0.18x / 173.9%$232,296
5200-5208 NW 16th Street, Lauderhill, FL 33313$236,500$62,37672.7% / $15,6912.2% / 1.8%0.26x / 157.1%$251,282
1403 College Park Lane, Tampa, FL 33612$146,667WithheldWithheld / WithheldWithheld / WithheldWithheld / WithheldNot established
134 W 32nd Street, Jacksonville, FL 32206$36,666WithheldWithheld / WithheldWithheld / WithheldWithheld / WithheldNot established

All legal-unit approvals remain unverified. Averages per unit conceal the stated unit mix. Where rents or occupancy are contradictory, the model is withheld; this is not a zero NOI. Every numeric ceiling is a conditional income screen, before capital work and unresolved charges. Tallahassee Sutor figures are a full-lease-up scenario, not its current three-unit income.

Fourplex market coverage and acquisition evidence
MetroExamined countObserved asking basisModeled rent per unit per monthModeled NOI and capStance
Jacksonville, FL2 examined; 0 legal cleared$240,000–$335,000$781519_w_23rd_jacksonville: $9,425 / 2.8%; 1504_w_15th_jacksonville: Withheld / WithheldWATCH; conditional only
Cape Coral-Fort Myers, FL1 examined; 0 legal cleared$599,900Withheld1840_lafayette_fort_myers: Withheld / WithheldWATCH; conditional only
Lakeland-Winter Haven, FL1 examined; 0 legal cleared$499,000$1,112902_e_lime_lakeland: $15,389 / 3.1%WATCH; conditional only
Tallahassee, FL1 examined; 0 legal cleared$499,000$1,100997_sutor_tallahassee: $21,342 / 4.3%WATCH; conditional only
Other 18 MSAs0 retained; market inventory unknownNot establishedNot establishedNot modeledWATCH; data gaps

No retained fourplex acquisition sample in: Miami-Fort Lauderdale-West Palm Beach, FL; Tampa-St. Petersburg-Clearwater, FL; Orlando-Kissimmee-Sanford, FL; North Port-Bradenton-Sarasota, FL; Deltona-Daytona Beach-Ormond Beach, FL; Palm Bay-Melbourne-Titusville, FL; Port St. Lucie, FL; Pensacola-Ferry Pass-Brent, FL; Ocala, FL; Naples-Marco Island, FL; Gainesville, FL; Crestview-Fort Walton Beach-Destin, FL; Panama City-Panama City Beach, FL; Punta Gorda, FL; Sebastian-Vero Beach-West Vero Corridor, FL; Homosassa Springs, FL; Wildwood-The Villages, FL; Sebring, FL.

Fourplex comparable model at asking price
PropertyAsk / unitAnnual scheduled potentialOER / NOICap / after reserve yieldAfter reserve DSCR / BEO85 percent ceiling
519 W 23rd St, Jacksonville, FL 32206$83,750$37,50072.7% / $9,4252.8% / 2.3%0.33x / 138.3%$133,265
902–904 E Lime St, Lakeland, FL 33801$124,750$53,40068.7% / $15,3893.1% / 2.5%0.37x / 137.4%$213,132
997 Sutor Rd, Tallahassee, FL 32311$124,750$52,80056.1% / $21,3424.3% / 3.7%0.54x / 125.3%$269,311
1840 Lafayette St, Fort Myers, FL 33901$149,975WithheldWithheld / WithheldWithheld / WithheldWithheld / WithheldNot established
1504 W 15th St, Jacksonville, FL 32209$60,000WithheldWithheld / WithheldWithheld / WithheldWithheld / WithheldNot established

All legal-unit approvals remain unverified. Averages per unit conceal the stated unit mix. Where rents or occupancy are contradictory, the model is withheld; this is not a zero NOI. Every numeric ceiling is a conditional income screen, before capital work and unresolved charges. Tallahassee Sutor figures are a full-lease-up scenario, not its current three-unit income.

Property diligence cards

Best Triplex and Best Fourplex: unawarded. The following is a document-verification watchlist. No candidate has complete legal-unit, separate-meter, flood, insurance, title, condition and all-in cost clearance. No broker, seller or tenant was contacted. Lease terms and collections must be verified before relying on listing income.

1811/1815 Whitner Street, Jacksonville, FL 32209

DUPLEX · Jacksonville, FL · $210,000 asking · $105,000 per marketed unit. Direct listing

Availability: Active live Zillow October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: Two 2-bedroom/1-bath units; upstairs/downstairs. DOM: 90 days; 2026-07-05 per Zillow; July 3 per Redfin. Price history: No current-list cuts. Earlier $215,000 Apr 2026 listing removed July 2; $265,000 Mar 2025 listing removed Aug 2025.

Rent and occupancy: Advertised existing aggregate $1,900/month; no collections verified. Existing aggregate advertised income, no market increase. Lease expirations: Upstairs 2027-04-30; Downstairs month-to-month.

Condition claims: Roof 2018; kitchens/plumbing 2022; second-unit HVAC 2023; second-unit water heater/panel 2026. Immediate capital needs: No contractor scope or capital bid established. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $4,500, separate flood placeholder $1,500, owner utilities/services $2,400, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $22,800; EGI $20,976; operating expenses $16,294 (77.7% of EGI); NOI $4,682; reserve $1,140; debt service $14,532. Cap 2.2%; after-reserve unlevered yield 1.7%.

Debt resilience for D01
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.32x0.24x-$10,990145.6%
Rent −5%; OER +5 pp0.24x0.16x-$12,221See base definition
Rate 9.50%0.29x0.22x-$12,350152.2%
Combined operating and rate stress0.22x0.15x-$13,580Separate stress scenario

Conditional maximum price: $70,693 at 85% BEO; preferred $59,191 at 80%; $65,909 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Comparative annual-income screen only; legal/meter/condition/insurance diligence unresolved.

Property evidence: [P088] [P089] [P090]. Full links and vintages are in the source ledger.

6600/6602 Pot O Gold Lane, Orlando, FL 32809

DUPLEX · Orlando-Kissimmee-Sanford, FL · $540,000 asking · $270,000 per marketed unit. Direct listing

Availability: For sale live Zillow October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: Two 2-bedroom/2-bath units, each about 1,000 sf with garage. DOM: 201 days; 2026-03-16. Price history: $650k initial; 620k Apr 23; 580k Jun 11; 550k Jul 16; 540k Sep 15; pending May 28, returned active Jun 4.

Rent and occupancy: Advertised existing aggregate $3,600/month; no collections verified. Existing stated leases without upside. Lease expirations: October 2026; September 2027.

Condition claims: 1970 block/stucco; septic; public water; roof life/septic inspection unresolved. Immediate capital needs: No contractor scope or capital bid established. No capital amount is treated as zero.

Tax and recurring budgets: 2026 displayed total 15.9798 mills × offer plus $914.56 known non-ad-valorem; future assessed value and final bill unverified. Property insurance $5,500, separate flood placeholder $1,500, owner utilities/services $2,400, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $43,200; EGI $39,744; operating expenses $25,942 (65.3% of EGI); NOI $13,802; reserve $2,160; debt service $37,369. Cap 2.6%; after-reserve unlevered yield 2.2%.

Debt resilience for D02
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.37x0.31x-$25,727158.2%
Rent −5%; OER +5 pp0.30x0.24x-$28,305See base definition
Rate 9.50%0.34x0.28x-$29,224167.2%
Combined operating and rate stress0.27x0.22x-$31,802Separate stress scenario

Conditional maximum price: $197,800 at 85% BEO; preferred $183,201 at 80%; $183,322 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Cleanest annual-lease and tax inputs among duplex screens, but ask requires substantial income-based discount and legal/insurance diligence.

Property evidence: [P091] [P092] [P093]. Full links and vintages are in the source ledger.

1010/1012 Gerald Avenue, Lehigh Acres, FL 33936

DUPLEX · Cape Coral-Fort Myers, FL · $499,000 asking · $249,500 per marketed unit. Direct listing

Availability: Active live Coldwell Banker October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: Two 1199 sf units; listing has 6 beds total, county has 4 beds/4 baths; likely den/bedroom discrepancy needs plans. DOM: 102 days; Not established. Price history: Not established.

Rent and occupancy: Advertised existing aggregate $3,300/month; no collections verified. Existing stated August 2026 annual leases, no seller hypothetical uplift. Lease expirations: Annual terms began August 2026; exact expiry unknown.

Condition claims: Not established. Immediate capital needs: No contractor scope or capital bid established. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $5,400, separate flood placeholder $1,500, owner utilities/services $0, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $39,600; EGI $36,432; operating expenses $23,295 (63.9% of EGI); NOI $13,137; reserve $1,980; debt service $34,532. Cap 2.6%; after-reserve unlevered yield 2.2%.

Debt resilience for D03
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.38x0.32x-$23,375157.6%
Rent −5%; OER +5 pp0.31x0.25x-$25,762See base definition
Rate 9.50%0.35x0.30x-$26,606166.7%
Combined operating and rate stress0.28x0.23x-$28,993Separate stress scenario

Conditional maximum price: $198,462 at 85% BEO; preferred $189,009 at 80%; $184,446 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Current annual-lease/new-build benchmark; no financial justification from projected rents, resolve 4 versus 6 bedrooms.

Property evidence: [P094] [P095] [P096]. Full links and vintages are in the source ledger.

1255 NE 110th Terrace, Miami, FL 33161

DUPLEX · Miami-Fort Lauderdale-West Palm Beach, FL · $639,000 asking · $319,500 per marketed unit. Direct listing

Availability: For sale live Zillow October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3/1 plus 2/1 per older listing; current 5 beds/2 baths. DOM: 397 days; 2025-08-31. Price history: $660k to $639k, Aug 6, 2026.

Rent and occupancy: Advertised existing aggregate $5,100/month; no collections verified. Advertised existing rents only; no leases, ledger, or actual collection proof. Lease expirations: Not established.

Condition claims: Not established. Immediate capital needs: No contractor scope or capital bid established. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $9,000, separate flood placeholder $1,500, owner utilities/services $2,400, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $61,200; EGI $56,304; operating expenses $35,594 (63.2% of EGI); NOI $20,710; reserve $3,060; debt service $44,220. Cap 3.2%; after-reserve unlevered yield 2.8%.

Debt resilience for D04
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.47x0.40x-$26,571140.2%
Rent −5%; OER +5 pp0.38x0.32x-$30,281See base definition
Rate 9.50%0.43x0.36x-$30,708147.8%
Combined operating and rate stress0.35x0.29x-$34,418Separate stress scenario

Conditional maximum price: $285,717 at 85% BEO; preferred $267,034 at 80%; $265,538 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Listing-only South Florida price/income benchmark; significant wind/flood/bedroom/legal verification remains.

Property evidence: [P097] [P098] [P099] [P100]. Full links and vintages are in the source ledger.

3701 W Brainerd Street A & B, Pensacola, FL 32505

DUPLEX · Pensacola-Ferry Pass-Brent, FL · $252,000 asking · $126,000 per marketed unit. Direct listing

Availability: Active live By Owner October 3; source updated October 2, 23:51. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: Two 2/1s. DOM: 36 days; 2026-08-28. Price history: None observed.

Rent and occupancy: Advertised existing aggregate $2,100/month; no collections verified. Advertised existing rents, no increase. Lease expirations: Not established.

Condition claims: 1938 frame/off-grade; roof age and termite/wind resistance unknown. Immediate capital needs: No contractor scope or capital bid established. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $5,600, separate flood placeholder $1,500, owner utilities/services $2,400, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $25,200; EGI $23,184; operating expenses $18,622 (80.3% of EGI); NOI $4,562; reserve $1,260; debt service $17,439. Cap 1.8%; after-reserve unlevered yield 1.3%.

Debt resilience for D05
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.26x0.19x-$14,137154.3%
Rent −5%; OER +5 pp0.19x0.11x-$15,467See base definition
Rate 9.50%0.24x0.17x-$15,769161.5%
Combined operating and rate stress0.17x0.10x-$17,098Separate stress scenario

Conditional maximum price: $75,716 at 85% BEO; preferred $63,003 at 80%; $70,592 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Panhandle listing-only annual-income price benchmark; not legal-qualified.

Property evidence: [P101] [P102] [P103]. Full links and vintages are in the source ledger.

4265 SW 51st Street #1-3, Dania Beach, FL 33314

TRIPLEX · Miami-Fort Lauderdale-West Palm Beach, FL · $769,000 asking · $256,333 per marketed unit. Direct listing

Availability: Active on live Zillow and Compass, observed October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 1 × 2BR/1BA at $1,850/month until 2027-02-28; 1 × 3BR/1BA at $1,960/month until 2026-12-31; 1 × 1BR/1BA at $1,150/month until 2026-12-31. DOM: 121 displayed days; 2026-06-04. Price history: None displayed; $769,000 since June 4.

Rent and occupancy: All three leased on annual/multiyear leases, listing claim only. Use disclosed existing unit rents without upside. Need leases, ledger and estoppels; documents advertised available but not supplied. Lease expirations: See unit-level dates where supplied; other dates unavailable.

Condition claims: Condition inspections and all system ages not established. Immediate capital needs: Unbid: Insurance/wind/flood quote, Post-sale tax, Two dated unit renovations, Sewer/plumbing condition, Owner services and common utilities, Legal/nonconforming validation. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $12,300, separate flood placeholder $1,500, owner utilities/services $3,600, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $59,520; EGI $54,758; operating expenses $42,422 (77.5% of EGI); NOI $12,336; reserve $2,976; debt service $53,217. Cap 1.6%; after-reserve unlevered yield 1.2%.

Debt resilience for T01
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.23x0.18x-$43,856173.9%
Rent −5%; OER +5 pp0.17x0.12x-$47,074See base definition
Rate 9.50%0.21x0.16x-$48,835183.2%
Combined operating and rate stress0.16x0.11x-$52,053Separate stress scenario

Conditional maximum price: $232,296 at 85% BEO; preferred $205,286 at 80%; $215,890 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Lawful third-unit status and rebuild rights.

Property evidence: [P104] [P105] [P106] [P107] [P108] [P109] [P110]. Full links and vintages are in the source ledger.

5200-5208 NW 16th Street, Lauderhill, FL 33313

TRIPLEX · Miami-Fort Lauderdale-West Palm Beach, FL · $709,500 asking · $236,500 per marketed unit. Direct listing

Availability: For sale on live Zillow, observed October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 2 × 2BR/1BA; 1 × 2BR/2BA. DOM: 146 displayed days; 2026-05-09 price history; date-on-market field says May 7. Price history: Initial $799,999; numerous small changes. Latest live cut $400 on Sep 28 from $709,900 to $709,500; Sep 22 had reached $708,000 before a Sep 24 increase.

Rent and occupancy: Annual-lease tenants; no per-unit lease/expiry or collection evidence. Lower of the two advertised triplex totals; provisional until address-specific rent roll. No upside used. Lease expirations: Not established. Shared marketing for adjacent 5200/5210 states triplex #1 $5,645/mo and #2 $5,198/mo but does not explicitly map the labels to addresses. Do not attribute the full portfolio $10,843 or projected $14,000 to this parcel.

Condition claims: Condition inspections and all system ages not established. Immediate capital needs: Unbid: Insurance/wind/flood quote, Post-sale tax, Water/sewer/trash/gardener bills, Roof age, Plumbing condition, Unit-specific electric metering. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $12,300, separate flood placeholder $1,500, owner utilities/services $3,600, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $62,376; EGI $57,386; operating expenses $41,695 (72.7% of EGI); NOI $15,691; reserve $3,119; debt service $49,099. Cap 2.2%; after-reserve unlevered yield 1.8%.

Debt resilience for T02
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.32x0.26x-$36,527157.1%
Rent −5%; OER +5 pp0.25x0.18x-$40,037See base definition
Rate 9.50%0.29x0.23x-$41,121165.2%
Combined operating and rate stress0.23x0.17x-$44,631Separate stress scenario

Conditional maximum price: $251,282 at 85% BEO; preferred $224,497 at 80%; $233,535 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Address-specific rent roll and lease expiries.

Property evidence: [P111] [P112] [P106] [P113] [P114]. Full links and vintages are in the source ledger.

1403 College Park Lane, Tampa, FL 33612

TRIPLEX · Tampa-St. Petersburg-Clearwater, FL · $440,000 asking · $146,667 per marketed unit. Direct listing

Availability: For sale on live Zillow, observed October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 1 × 3BR/1BA at $1,900/month; 1 × 1BR/1BA at $1,250/month; 1 × 0BR/1BA at $1,000/month. DOM: 249 displayed days; 2026-01-27. Price history: $450,000 to $440,000 July 26; returned active after Feb 21 and Apr 8 pending periods.

Rent and occupancy: Contradiction: description says one unit vacant but calls all three leased and $4,150 current monthly income. Do not underwrite $4,150 as current collected income. If exactly one unit vacant, known potential in-place aggregate could range $2,250-$3,150 depending on which. Obtain unit-level status first. Lease expirations: Not established.

Condition claims: Condition inspections and all system ages not established. Immediate capital needs: Unbid: Roof age, Frame sections/wind insurance, Inspection/rehab, HOA reserves, assessments and rental restrictions, Vacant unit identity and turn cost, Post-sale tax. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $7,100, separate flood placeholder $1,500, owner utilities/services $3,600, included HOA $3,276 annually. HOA documents and all exact cost quotes remain unverified.

NOI, cap, DSCR, BEO and maximum offer withheld. A reliable subject rent/occupancy or stabilization basis is missing. Applying a seller pro forma would create unsupported precision. Low price per unit alone is not an acquisition case.

Property evidence: [P115] [P116] [P117] [P118]. Full links and vintages are in the source ledger.

134 W 32nd Street, Jacksonville, FL 32206

TRIPLEX · Jacksonville, FL · $109,999 asking · $36,666 per marketed unit. Direct listing

Availability: Active on live Zillow, observed October 3. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 1 × 2BR/1BA; 2 × 1BR/1BA. DOM: 4 displayed days; 2026-09-28 price history; date-on-market field says October 2. Price history: None displayed.

Rent and occupancy: All three delivered vacant, no leases. Seller target is unsubstantiated. No rent comps or renovation bid establish stabilized rent; current income zero. Lease expirations: No existing leases per listing.

Condition claims: AS-IS renovation required. Listing says central HVAC but assessor says wall units/unducted heat; inspect systems. Immediate capital needs: Unbid: Full rehab scope/bids and contingency, Holding costs/lease-up, Roof and electrical/plumbing replacements, Builder-risk/insurance availability, Post-sale tax, Municipal liens/code cases. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $6,000, separate flood placeholder $1,500, owner utilities/services $3,600, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

NOI, cap, DSCR, BEO and maximum offer withheld. A reliable subject rent/occupancy or stabilization basis is missing. Applying a seller pro forma would create unsupported precision. Low price per unit alone is not an acquisition case.

Property evidence: [P119] [P120] [P121]. Full links and vintages are in the source ledger.

519 W 23rd St, Jacksonville, FL 32206

FOURPLEX · Jacksonville, FL · $335,000 asking · $83,750 per marketed unit. Direct listing

Availability: Active for sale observed in direct MLS and current Realtor syndication; updated Sep16. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 4 x 1BR/1BA. DOM: Realtor displays140; elapsed since first listing142 as of Oct3, relisting/pending intervals mean not continuous market time. Price history: 2026-09-16: $349,000 to $335,000.

Rent and occupancy: No uplift over disclosed in-place schedule; not lease/collection verified. Recent subject rental asks around$775 corroborate order of magnitude. Claimed occupied-unit schedule $3,125/month; lease expirations Not established.

Condition claims: Physical inspection and systems scope not established. . Immediate capital needs: No contractor bids; Roof final inspection and4-point/wind mitigation, insurer quote. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $6,000, separate flood placeholder $1,500, owner utilities/services $4,800, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $37,500; EGI $34,500; operating expenses $25,075 (72.7% of EGI); NOI $9,425; reserve $1,875; debt service $23,183. Cap 2.8%; after-reserve unlevered yield 2.3%.

Debt resilience for 519_w_23rd_jacksonville
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.41x0.33x-$15,633138.3%
Rent −5%; OER +5 pp0.32x0.23x-$17,743See base definition
Rate 9.50%0.37x0.30x-$17,802144.7%
Combined operating and rate stress0.29x0.21x-$19,912Separate stress scenario

Conditional maximum price: $133,265 at 85% BEO; preferred $114,347 at 80%; $124,246 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: CO/zoning letter and legal nonconforming/rebuild rights, since RLD-60 official city guidance is single-family.

Property evidence: [P122] [P123] [P124] [P125]. Full links and vintages are in the source ledger.

902–904 E Lime St, Lakeland, FL 33801

FOURPLEX · Lakeland-Winter Haven, FL · $499,000 asking · $124,750 per marketed unit. Direct listing

Availability: Active new listing Oct1; current broker syndication updated Oct2. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 4x1BR/1BA claimed, two units per building. DOM: 2 calendar days since listing; not continuous MLS DOM. Price history: None observed.

Rent and occupancy: No uplift from seller current aggregate rent; require individual leases/collections. Claimed occupied-unit schedule $4,450/month; lease expirations Not established.

Condition claims: Physical inspection and systems scope not established. . Immediate capital needs: No contractor bids; Confirm4legal units, rear configuration, baths, permitted area and rebuild rights; 1943/1948woodframe and crawlspace; roof/HVAC/plumbing/electrical ages unknown. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $6,000, separate flood placeholder $1,500, owner utilities/services $7,608, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized annual-rental screen using advertised existing schedule. Scheduled potential $53,400; EGI $49,128; operating expenses $33,739 (68.7% of EGI); NOI $15,389; reserve $2,670; debt service $34,532. Cap 3.1%; after-reserve unlevered yield 2.5%.

Debt resilience for 902_e_lime_lakeland
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.45x0.37x-$21,813137.4%
Rent −5%; OER +5 pp0.36x0.28x-$24,916See base definition
Rate 9.50%0.41x0.34x-$25,044144.1%
Combined operating and rate stress0.33x0.25x-$28,147Separate stress scenario

Conditional maximum price: $213,132 at 85% BEO; preferred $189,816 at 80%; $198,080 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: County area discrepancy:1448+660=2108sf; rear contains separate660sfgarage, versus listing2803sf and another syndication2048sf.

Property evidence: [P126] [P127] [P128]. Full links and vintages are in the source ledger.

997 Sutor Rd, Tallahassee, FL 32311

FOURPLEX · Tallahassee, FL · $499,000 asking · $124,750 per marketed unit. Direct listing

Availability: Currently advertised on Crexi at $499,000; displayed DOM and last-update age come from a cached snapshot. Availability is not broker-confirmed. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 4x2BR/1BA,777sf each. DOM: April 2 first MLS listing found in third-party history; Crexi displays 167 days. Calendar elapsed time is not continuous DOM. Price history: Date not established: $525,000 to $499,000.

Rent and occupancy: Three occupied units at $1,100/month. $4,400/month requires leasing the fourth unit and is potential, not current in-place income. Claimed occupied-unit schedule $3,300/month; lease expirations Not established.

Current occupied-schedule comparison: three of four units at the advertised $1,100 rent means $39,600 annual occupied rent versus $52,800 full potential, or 25% known physical vacancy. No extra 8% is subtracted. At asking price and the same fixed budgets: NOI $13,264; after-reserve DSCR 0.31x; annual cash flow -$23,908. The separate stabilized model below requires fourth-unit lease-up; actual collections remain unverified.

Condition claims: Physical inspection and systems scope not established. Roof 2011 per listing. Immediate capital needs: No contractor bids; Resolve expired 2024 HVAC permit and obtain final inspection; Obtain insurance quote and evaluate 15-year-old roof replacement. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $6,000, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Hypothetical full lease-up at $1,100 per legal unit; current three-unit schedule is $3,300/month; no present 92% occupancy claim. Scheduled potential $52,800; EGI $48,576; operating expenses $27,234 (56.1% of EGI); NOI $21,342; reserve $2,640; debt service $34,532. Cap 4.3%; after-reserve unlevered yield 3.7%.

Debt resilience for 997_sutor_tallahassee
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.62x0.54x-$15,830125.3%
Rent −5%; OER +5 pp0.52x0.44x-$19,204See base definition
Rate 9.50%0.57x0.50x-$19,060132.1%
Combined operating and rate stress0.48x0.41x-$22,435Separate stress scenario

Conditional maximum price: $269,311 at 85% BEO; preferred $257,617 at 80%; $250,291 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: The public evidence is sufficient for a conditional income comparison or a clearly labeled stabilization scenario. Largest risk: Resolve expired 2024 HVAC permit and obtain final inspection.

Property evidence: [P129] [P130] [P131] [P132] [P133] [P134]. Full links and vintages are in the source ledger.

1840 Lafayette St, Fort Myers, FL 33901

FOURPLEX · Cape Coral-Fort Myers, FL · $599,900 asking · $149,975 per marketed unit. Direct listing

Availability: Redfin shows for sale at $599,900; retrieved snapshot is approximately one month old. Broker confirmation absent. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: Listing claims four 2BR/1BA units; county record has three total bedrooms and four baths, a material discrepancy. DOM: 150 calendar days since listing; not continuous MLS DOM. Price history: 2026-06-11: $699,000 to $649,000; 2026-07-13: $649,000 to $599,900.

Rent and occupancy: No actual rent roll or current occupancy. Advertised $58,800 gross scheduled income is not established current rent or collections; no offer-ready rent base. Claimed occupied-unit schedule Not established/month; lease expirations Not established.

Condition claims: Physical inspection and systems scope not established. . Immediate capital needs: No contractor bids; Verify roof permit final and flood/wind insurance costs; Confirm meters, water/sewer payer, city permit/code and lien status. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $7,200, separate flood placeholder $1,500, owner utilities/services $4,800, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

NOI, cap, DSCR, BEO and maximum offer withheld. A reliable subject rent/occupancy or stabilization basis is missing. Applying a seller pro forma would create unsupported precision. Low price per unit alone is not an acquisition case.

Property evidence: [P135] [P136]. Full links and vintages are in the source ledger.

1504 W 15th St, Jacksonville, FL 32209

FOURPLEX · Jacksonville, FL · $240,000 asking · $60,000 per marketed unit. Direct listing

Availability: Loop Net states currently available at $240,000; date on market May 5. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: Official appraisal shows four bedrooms/four bathrooms; four 1BR/1BA units are inferred, not independently confirmed. DOM: 151 calendar days since listing; not continuous MLS DOM. Price history: Not established.

Rent and occupancy: Do not treat $42,600 pro forma rent as actual. Listing says only three units occupied; current rent roll required. Claimed occupied-unit schedule Not established/month; lease expirations Not established.

Condition claims: Physical inspection and systems scope not established. . Immediate capital needs: No contractor bids; Verify claimed 2024 renovation permits and separate meters. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $6,000, separate flood placeholder $1,500, owner utilities/services $4,800, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

NOI, cap, DSCR, BEO and maximum offer withheld. A reliable subject rent/occupancy or stabilization basis is missing. Applying a seller pro forma would create unsupported precision. Low price per unit alone is not an acquisition case.

Property evidence: [P137] [P138]. Full links and vintages are in the source ledger.

Ten single family markets to research first

The ten-market ordering below is the partial annual-rental market screen, not a verified list of the ten strongest cash-flow markets. Its top positions depend on demand, buyer leverage and supply context; the missing 45 points can change the order. All ten are WATCH. Other strategies have no eligible score until parcel-level zoning, occupancy, licenses, lease duration, private covenants, parking, bedrooms, egress and fire rules are cleared.

Top ten SFR partial research priorities
Order and marketEarned / covered and possible envelopeSFR asking rent index / YoYAvailable subject entry examplesStrategy and stance
1. Deltona-Daytona Beach-Ormond Beach, FL35.5/55; 35.5–80.5$2,147 / 3.1%No retained investment-grade 3–5BR sample; entry price and $/sf not establishedOrdinary annual rental research; WATCH
2. Lakeland-Winter Haven, FL35.5/55; 35.5–80.5$2,099 / 2.6%No retained investment-grade 3–5BR sample; entry price and $/sf not establishedOrdinary annual rental research; WATCH
3. Orlando-Kissimmee-Sanford, FL33.5/55; 33.5–78.5$2,452 / 1.7%No retained investment-grade 3–5BR sample; entry price and $/sf not establishedOrdinary annual rental research; WATCH
4. Palm Bay-Melbourne-Titusville, FL33/55; 33–78$2,255 / 2.6%$249,900 / $193 per sf (status conflict)Ordinary annual rental research; WATCH
5. Jacksonville, FL33/55; 33–78$2,075 / 2.5%$219,000 / $182 per sf; $179,000 / $150 per sfOrdinary annual rental research; WATCH
6. Port St. Lucie, FL33/55; 33–78$2,681 / 2.8%No retained investment-grade 3–5BR sample; entry price and $/sf not establishedOrdinary annual rental research; WATCH
7. Panama City-Panama City Beach, FL32.5/55; 32.5–77.5$2,110 / 1.6%No retained investment-grade 3–5BR sample; entry price and $/sf not establishedOrdinary annual rental research; WATCH
8. Tallahassee, FL32/55; 32–77$1,650 / 1.9%$225,000 / $153 per sfOrdinary annual rental research; WATCH
9. Tampa-St. Petersburg-Clearwater, FL32/55; 32–77$2,410 / 1.4%No retained investment-grade 3–5BR sample; entry price and $/sf not establishedOrdinary annual rental research; WATCH
10. Gainesville, FL31.5/55; 31.5–76.5$2,001 / 2.9%$225,000 / $173 per sfOrdinary annual rental research; WATCH
Strategy rankings and allowed income credit
StrategyRanking and income treatmentRequired evidence
Conventional annual rentalPartial market order above; no parcel Buy clearanceLawful existing residence, ordinary lease rules, executed rent comps, insurance and fully loaded expenses
Owner occupied house hack or roomsNo eligible strategy ranking; zero incremental income creditActual owner occupancy and financing; rooming classification; occupants, parking, legal bedrooms and fire/egress
ADU subdivision or conversionNo eligible strategy ranking; zero incremental income creditCurrent parcel use permission, lot/site/utility feasibility, permits, approved plans, final occupancy and lender/insurer/HOA permission
Furnished mid term rentalNo eligible strategy ranking; zero premium creditedPermitted use/duration, occupancy and licensing, tax treatment, written coverage, turnover/furnishing/utilities and executed demand
Short term rentalNo eligible strategy ranking; zero STR income creditedExplicitly permitted parcel use and duration plus registration, licenses, safety and private restrictions
Master lease or sublettingNo scenario creditedWritten owner, lender, insurer and HOA approval, with zoning and safety clearance

A broad SFR rent index is not an annual 3–5-bedroom rent or room rent. No per-bedroom rent market series was established. For a specific retained home, the cards show whole-home annual-rental underwriting and transparent rent-per-bedroom arithmetic only as allocation, never as room-rental revenue. Marketwide target bases and maximum offers are withheld where matched property rents, costs and condition do not exist; candidate-specific conditional ceilings follow.

For all ten markets, the common tables above supply September inventory, price reductions, DOM and price trends, August rent and employment trends, population growth, vacancy/concessions where available, and one-unit permit competition. Consistent current final-sale-to-list, 3–5BR entry-price distributions, per-room executed rents, effective-rent concessions, distress, delivery pipelines and household growth remain unavailable. No missing series is treated as zero or as a marketwide Avoid.

Target basis is property-specific: retained candidate ceilings follow. No matched investment-grade entry sample exists for Deltona, Lakeland, Orlando, Port St Lucie, Panama City or Tampa; Palm Bay has only a status-conflicted reserve. Broad sold medians and rent indexes must not substitute for those missing samples. Every top-ten market is best suited to annual-rental research first; the main risk is paying a price that does not survive actual costs and debt.

Taxes, insurance, utilities, HOA/CDD and capital work use the common conditional cost framework and parcel-specific facts below. Local strategy rules appear in the jurisdiction matrix; unreviewed municipalities receive no clearance. Crime and school assignment are not scored, and no protected-class proxy enters the ordering.

Verified institutional demand anchors

These official institutional locations provide qualitative context only, not proof of hiring, rent absorption or a price premium. Commute times from the candidates were not measured. Campus cities identify actual locations within the broader MSA.

Primary source employment education and medical anchors
Selected MSAOfficial locationsGeographic caution
Deltona–Daytona Beach–Ormond BeachStetson University, DeLand campus, 421 N. Woodland Blvd; AdventHealth Fish Memorial, 1055 Saxon Blvd, Orange CityEducation and healthcare clusters are in DeLand and Orange City, not uniformly near every Deltona/Daytona property. Assess each side of the MSA separately
Lakeland–Winter HavenLakeland Regional Health Medical Center, 1324 Lakeland Hills Blvd; Florida Southern College, 111 Lake Hollingsworth DrBoth anchors are Lakeland locations. They do not establish comparable tenant demand at a remote Winter Haven/Polk parcel
Orlando–Kissimmee–SanfordUCF locations identifies the east-Orlando main campus and Lake Nona Academic Health Sciences campus; UCF College of Medicine's Lake Nona location identifies nearby VA and Nemours facilitiesEast Orlando and Lake Nona are distinct demand centers. The university says Lake Nona is about 25 miles south of its Orlando main campus. Don't underwrite an entire metro as one student/medical rental market
Palm Bay–Melbourne–TitusvilleL 3 Harris Florida operations identifies Palm Bay's High Technology Center and Melbourne presence; corporate headquarters is at 1025 W.NASA Blvd, MelbourneAerospace/defense is a real employment anchor, but no job-growth figure or relocation demand was established. Palm Bay/Melbourne must be distinguished from Titusville
JacksonvilleMayo Clinic's Florida campus guide; University of North Florida, 1 UNF Drive, Jacksonville 32224These are eastern-Jacksonville anchors. They do not automatically support higher rents for northwest 32209/32219 houses. Parcel-level commute verification is essential
Port St.LucieCleveland Clinic Tradition Hospital, 10000 SW Innovation Way; IRSC Pruitt Campus, 500 NW California BlvdHealthcare/STEM/nursing institutions can diversify the tenant pool. Tradition and Pruitt locations must be matched to the subject submarket, not treated as metro-wide premiums
Panama CityTyndall AFB official media kit identifies its location near Panama City and 325 th Fighter Wing; Gulf Coast State College Panama City campus, 5230 W.Hwy 98Military and education anchors support qualitative diversification. Base gates, commute routes, noise/compatible-use zones and wind/flood exposure still need parcel review. Do not capitalize temporary rebuilding demand into perpetual rent
TallahasseeFlorida State University; Tallahassee Memorial Hospital, 1300 Miccosukee RoadEducation and healthcare are separate tenant sources. Whole-home annual rent is the base case; no per-room, event-weekend or medical-furnished premium is established
Tampa–St.Petersburg–ClearwaterUSF identifies Tampa and St.Petersburg campuses; Tampa General Hospital fact sheet locates its main hospital on Davis Islands, 1 Tampa General CircleThese anchors lie in different parts of a very large MSA. Davis Islands proximity should not justify taking flood risk or extrapolating a medical premium to inland Pasco/Polk
GainesvilleUniversity of Florida overview confirms the Gainesville campusEducation/research is an anchor, not evidence that a Northwood home earns a student-room premium. Separate ordinary family leases from regulated roommate/rooming-house strategies. UF Health's main location page could not be retrieved, so no hospital-specific quantitative claim is included

Single family property screens

Six portal-active candidate records are retained across Jacksonville, Pensacola, Tallahassee and Gainesville. The Palm Bay record is a separate reserve because sources disagree on availability. This is a research shortlist, not six investable opportunities. The cheap listings include short-sale, TLC and fixer exposure. No selection is padded to ten and no winner is named where legal, condition or financial gates are unfulfilled.

Ordinary annual rental model for SFR candidates
PropertyStatusAsk / monthly rent assumption and ratioNOI / capAfter reserve DSCR / BEO85 percent conditional ceiling
3333 Almeda St, Jacksonville, FL 32209Portal active; unverified$219,000 / $1,500 / 0.685%$3,064 / 1.4%0.14x / 172.2%$60,649
8625 Stockdale Ave, Pensacola, FL 32514Portal active; unverified$199,000 / $1,600 / 0.804%$3,174 / 1.6%0.16x / 158.9%$55,873
1195 Simpson St, Pensacola, FL 32526Portal active; unverified$235,000 / $1,650 / 0.702%$2,908 / 1.2%0.12x / 172.5%$60,212
3946 Magellan Trail, Tallahassee, FL 32303Portal active; unverified$225,000 / $1,750 / 0.778%$5,218 / 2.3%0.27x / 152.3%$81,388
4001 NW 48 th Place, Gainesville, FL 32606Portal active; unverified$225,000 / $1,900 / 0.844%$6,162 / 2.7%0.32x / 143.4%$51,817
8015 Galveston Ave, Jacksonville, FL 32211Portal active; unverified$179,000 / $1,750 / 0.978%$6,138 / 3.4%0.41x / 130.6%$81,388
839 Angle St NE, Palm Bay, FL 32905Reserve status conflict$249,900 / $1,750 / 0.700%$3,720 / 1.5%0.15x / 169.4%$71,131

3333 Almeda St, Jacksonville, FL 32209

SFR · Jacksonville, FL · $219,000 asking · $219,000 per marketed unit. Direct listing

Availability: For sale / Active. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3 beds / 2 baths; 1,200 square feet; $182 per square foot; built 2026 (listing). DOM: 4 days is cached Redfin snapshot, not Oct 3 MLS DOM; 23 calendar days since current listing date if uninterrupted. Price history: Current listing $219,000 Sep 10; prior MLS 2142061 $234,900 Apr 17, removed Jul 31.

Rent and occupancy: Whole-home modeled rent $1,500/month; asking-comp range $1,400–$1,700. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $500 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: Shingle; 2026 new construction claimed; hvac: Central electric; new construction claimed, commissioning/CO not reviewed; plumbing: No inspection/material evidence; new construction claimed; electrical: No inspection/panel evidence; new construction claimed; other: Fiber cement exterior; LVP; seller offers stainless appliances with accepted offer, not necessarily installed. Immediate capital needs: Appliance inclusion, certificate of occupancy, final permits, punch-list, drainage, warranty and parcel split remain unverified; no contractor quote. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $3,500, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $18,000; EGI $16,560; operating expenses $13,496 (81.5% of EGI); NOI $3,064; reserve $900; debt service $15,155. Cap 1.4%; after-reserve unlevered yield 1.0%.

Debt resilience for SFR-JAX-ALMEDA
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.20x0.14x-$12,991172.2%
Rent −5%; OER +5 pp0.14x0.08x-$13,931See base definition
Rate 9.50%0.18x0.13x-$14,409180.9%
Combined operating and rate stress0.13x0.07x-$15,349Separate stress scenario

Conditional maximum price: $60,649 at 85% BEO; preferred $51,568 at 80%; $56,544 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: 2026 listing is new build, not verified completed CO.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
1444 W 6 th St, Jacksonville, FL 32209$1,263; 3BR/2BA; 1,084 sfNot verifiedCrawled 3 weeks before access; page says updated today2024 construction advertised; price may reflect promotion/required fees. Lower competitive anchor, not proof subject will rent at this amount.
1668 W 8 th St, Jacksonville, FL 32209$1,750; 3BR/2.5BA; 1,558 sf12 months statedUpdated 2026-08-31; crawled 3 days before accessLarger than Almeda, 1-car garage, utilities not included; competitive upper bracket, not like-for-like detached comp

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P139] [P140] [P141]. Full links and vintages are in the source ledger.

8625 Stockdale Ave, Pensacola, FL 32514

SFR · Pensacola-Ferry Pass-Brent, FL · $199,000 asking · $199,000 per marketed unit. Direct listing

Availability: For sale / Active. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3 beds / 2 baths; 1,228 square feet; $162 per square foot; built 1960 (listing). DOM: 136 days shown in cached broker page; 145 calendar days since listing if uninterrupted. Price history: $208,000 May 11 to $199,000 Sep 2, $9,000/4.3% reduction.

Rent and occupancy: Whole-home modeled rent $1,600/month; asking-comp range $1,500–$1,700. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $533 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: Listing says replaced within last 3 years; rolled/hot-mop listed, but Redfin permit snippet Mar 28 2024 final describes shingles. Resolve discrepancy with permit/four-point; hvac: Replaced within last 3 years, listing claim only; plumbing: Hot-water heater replaced within last 3 years; pipe material/septic age unknown; electrical: Circuit breakers listed; wiring age/type unverified; other: Listing says TLC needed; frame/slab; tile. Immediate capital needs: TLC, septic inspection/pump, roof-material/permit reconciliation, four-point and wind mitigation. Actual bids unavailable. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $4,700, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $19,200; EGI $17,664; operating expenses $14,490 (82.0% of EGI); NOI $3,174; reserve $960; debt service $13,771. Cap 1.6%; after-reserve unlevered yield 1.1%.

Debt resilience for SFR-PEN-STOCKDALE
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.23x0.16x-$11,558158.9%
Rent −5%; OER +5 pp0.16x0.09x-$12,555See base definition
Rate 9.50%0.21x0.15x-$12,846166.3%
Combined operating and rate stress0.14x0.08x-$13,844Separate stress scenario

Conditional maximum price: $55,873 at 85% BEO; preferred $46,187 at 80%; $52,092 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: Old frame house and septic.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
111 Wildflower Ln, Pensacola, FL 32514$1,595; 3BR/2BA; 1,184 sfNot verifiedCrawled on access date, available nowSimilar size to Stockdale; resident-benefit package $28–49.95/month is not base rent. Updated condition/fenced yard advertised.
4290 La Borde Ln, Pensacola, FL 32514$1,575; 3BR/2BA; 1,287 sfNot verifiedGrid crawled 2 weeks before access; listed 4 days in snapshotSame ZIP and close size; exact micro-location/condition and current availability need verification

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P142] [P143] [P144]. Full links and vintages are in the source ledger.

1195 Simpson St, Pensacola, FL 32526

SFR · Pensacola-Ferry Pass-Brent, FL · $235,000 asking · $235,000 per marketed unit. Direct listing

Availability: For sale / Active. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3 beds / 2 baths; 1,247 square feet; $188 per square foot; built 2002 (listing). DOM: Cached Redfin 44 days; Trulia current retrieval still for sale, 87 calendar days since Jul 8 if uninterrupted. Price history: Listed 235000 Jul 8; no cut observed.

Rent and occupancy: Whole-home modeled rent $1,650/month; asking-comp range $1,500–$1,800. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $550 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: 2022 archived listing says brand-new roof then; do not label 2026 roof. No permit reviewed; hvac: Central AC/natural-gas heating, age unknown; plumbing: Gas water heater, age/materials unknown; electrical: Copper wiring and circuit breakers listed; inspection unverified; other: Frame/slab; split layout. Immediate capital needs: HVAC/heater age, roof 2022 documentation, four-point, wind mitigation, paint/turnover; no bid. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $4,700, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $19,800; EGI $18,216; operating expenses $15,308 (84.0% of EGI); NOI $2,908; reserve $990; debt service $16,263. Cap 1.2%; after-reserve unlevered yield 0.8%.

Debt resilience for SFR-PEN-SIMPSON
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.18x0.12x-$14,344172.5%
Rent −5%; OER +5 pp0.12x0.06x-$15,355See base definition
Rate 9.50%0.16x0.11x-$15,866181.0%
Combined operating and rate stress0.11x0.05x-$16,876Separate stress scenario

Conditional maximum price: $60,212 at 85% BEO; preferred $50,223 at 80%; $56,137 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: July listing update remains old.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
1229 Brownfield Rd, Pensacola, FL 32526$1,750; 3BR/2BA; 1,200 sfNot verifiedCrawled 3 weeks before access; Barrons Property Managers broker feedSame ZIP and close size to Simpson; older alternate portal asks 1800, use lower 1750. Not a closed lease.
6942 Falcon Dr, Pensacola, FL 32526$1,495; 3BR/2BA; 1,450 sfNot verifiedBoth crawled 2 weeks before access; Apartments.com 1495 versus Redfin 1595Price conflict; conservative lower anchor 1495, larger than Simpson; exact location difference matters

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P145] [P146] [P147]. Full links and vintages are in the source ledger.

3946 Magellan Trail, Tallahassee, FL 32303

SFR · Tallahassee, FL · $225,000 asking · $225,000 per marketed unit. Direct listing

Availability: Active. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3 beds / 2 baths; 1,468 square feet; $153 per square foot; built 1990 (listing). DOM: Coldwell Banker 2 days; newly listed strongest recency of group. Price history: Listed 225000; no cut observed.

Rent and occupancy: Whole-home modeled rent $1,750/month; asking-comp range $1,650–$1,850. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $583 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: Composition shingle; age unknown; hvac: Listing says major systems relatively updated, no dates; plumbing: No dated/material evidence; electrical: No dated/panel evidence; other: Listing explicitly TLC needed. Immediate capital needs: TLC scope undefined; inspections and contractor quote required; prior preforeclosure portal flag must reconcile title/estate/bank authority. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $3,500, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $21,000; EGI $19,320; operating expenses $14,102 (73.0% of EGI); NOI $5,218; reserve $1,050; debt service $15,570. Cap 2.3%; after-reserve unlevered yield 1.9%.

Debt resilience for SFR-TAL-MAGELLAN
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.34x0.27x-$11,402152.3%
Rent −5%; OER +5 pp0.26x0.19x-$12,581See base definition
Rate 9.50%0.31x0.24x-$12,859160.0%
Combined operating and rate stress0.24x0.18x-$14,038Separate stress scenario

Conditional maximum price: $81,388 at 85% BEO; preferred $71,747 at 80%; $75,640 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: HOA unknown.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
3197 Wood Hill Dr, Tallahassee, FL 32303$1,750; 3BR/2BA; 1,371 sf1 Year statedListed 2026-09-12; crawled 2 weeks before access2-car garage, new carpet/paint; lawn care included. Similar NW Tallahassee whole-home rental; exact distance not measured.
4517 Eltham Park, Tallahassee, FL 32303$1,800; 3BR/2BA; 1,465 sfNot verifiedApartmentFinder crawled 4 weeks before access; shows available. WARNING older historical 1800 rent existed 2024, independent current lease verification neededSecondary only due source-history ambiguity; do not make main underwriting anchor
2626 Faversham Dr, Tallahassee, FL 32303$1,850; 3BR/2BA; 1,444 sfNot verifiedCrawled 3 months before access; available 2026-07-01 statedRemodeled home; older listing, lower confidence and superior condition to TLC subject

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P148] [P149] [P150] [P151]. Full links and vintages are in the source ledger.

4001 NW 48 th Place, Gainesville, FL 32606

SFR · Gainesville, FL · $225,000 asking · $225,000 per marketed unit. Direct listing

Availability: Active. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3 beds / 2 baths; 1,303 square feet; $173 per square foot; built 1973 (listing). DOM: Cached 8 days; 24 calendar days since Sep 9 if uninterrupted. Price history: Listed 225000 Sep 9, no cut observed.

Rent and occupancy: Whole-home modeled rent $1,900/month; asking-comp range $1,800–$2,100. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $633 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: Shingle, age unknown; hvac: Central AC/electricheat, age unknown; plumbing: No material/date evidence; electrical: No panel/date evidence; other: Concreteblock; explicitfixer/needsupdating, not turnkey. Immediate capital needs: Whole fixer scope, roof/HVAC/plumbing/panel unknown; no rent credited before stabilization and no rehab quote. No capital amount is treated as zero.

Tax and recurring budgets: Conservative max(2% of offer, disclosed 2025 tax $4,920.13); actual post-sale all-levy estimate not obtained. Property insurance $3,500, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $22,800; EGI $20,976; operating expenses $14,814 (70.6% of EGI); NOI $6,162; reserve $1,140; debt service $15,570. Cap 2.7%; after-reserve unlevered yield 2.2%.

Debt resilience for SFR-GNV-NW48
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.40x0.32x-$10,548143.4%
Rent −5%; OER +5 pp0.31x0.24x-$11,853See base definition
Rate 9.50%0.36x0.29x-$12,005150.5%
Combined operating and rate stress0.29x0.22x-$13,310Separate stress scenario

Conditional maximum price: $51,817 at 85% BEO; preferred $36,991 at 80%; $47,384 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: Fixer; cannotprice without inspection and bid.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
3526 NW 53 rd Ter, Gainesville, FL 32606$1,900; 3BR/2BA; 1,353 sfContact fordetails, annual not explicitly verifiedZillow updated 2026-09-22; Redfinupdated Sep 25/MLSGridSep 29Rent 2250 Mar 4->2200 Apr 24->2100 Jul 15->2000 Aug 4->1900 Sep 22. HVAC/heater 2023; tenant lawn. Long marketing and cuts signal leasing friction.
4731 NW 39 th St, Gainesville, FL 32606$2,200; 3BR/2BA; 1,449 sfNot verifiedCrawled 2 weeks before accessClose street grid and larger home; upper ask only, not basecase
2146 NW 87 th Ter, Gainesville, FL 32606$1,795; 3BR/2BA; 1,300 sfNot verifiedZillow 2 weeks / Apartments.com 1 month before accessSimilar size, farther west; lower bracket forafter-rehab subject

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P152] [P153] [P154]. Full links and vintages are in the source ledger.

8015 Galveston Ave, Jacksonville, FL 32211

SFR · Jacksonville, FL · $179,000 asking · $179,000 per marketed unit. Direct listing

Availability: For sale; SHORT SALE. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 4 beds / 2 baths; 1,195 square feet; $150 per square foot; built 1953 (listing). DOM: 213/214 days cached; current MLS cumulative DOM not verified. Price history: 209000 Nov 2025; 170000 Mar 2 2026 thenpending; 207000 Jun 19 relist; 199000 Sep 1; 189000 Sep 11; 179000 Sep 18.

Rent and occupancy: Whole-home modeled rent $1,750/month; asking-comp range $1,600–$1,900. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $438 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: 2019 claimed; hvac: Centralheat/air, age unknown; plumbing: 2019 repipe, tankless heater, fixtures claimed; electrical: No age/material evidence; other: Kitchen/floor/bathupdates 2020; as-is. Immediate capital needs: As-is, short-sale waiting costs, HVAC/panelunknown, inspection needed; do not count 2019 upgrades as verified condition. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $3,500, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $21,000; EGI $19,320; operating expenses $13,182 (68.2% of EGI); NOI $6,138; reserve $1,050; debt service $12,387. Cap 3.4%; after-reserve unlevered yield 2.8%.

Debt resilience for SFR-JAX-GALVESTON
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.50x0.41x-$7,299130.6%
Rent −5%; OER +5 pp0.40x0.31x-$8,524See base definition
Rate 9.50%0.45x0.38x-$8,458136.8%
Combined operating and rate stress0.36x0.29x-$9,683Separate stress scenario

Conditional maximum price: $81,388 at 85% BEO; preferred $71,747 at 80%; $75,640 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: SHORT SALE +5000 processing fee.

Additional purchase cost: $5,000 short-sale processing fee is advertised in addition to price and usual closing costs; approval, allocation and total funds required must be confirmed. It is not hidden in recurring NOI.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
1447 Lawrence Place, Jacksonville, FL 32211$1,850; 4BR/2BA; 1,700 sfNot verifiedBothsources 5 months before access; explicit current availability not establishedLarger 4/2 thanGalveston; olderask, secondary only. Listing says driveway parking prohibited, yard parking only.
7037 Pellias Rd, Jacksonville, FL 32211$1,960; 4BR/2BA; 1,478 sf1 Year stated onZillowDirect Zillow updated Jul 16, rent 1960; newer Redfin grid 1 monthbefore access 1875, so use 1875 lower anchorLarger 4/2; provider Main Street Renewal; asking rent cuts andfeed conflict, not executed lease
8719 Galveston Ave, Jacksonville, FL 32211$1,821; 3BR/2BA; 1,330 sfNot verifiedCrawled 1 month before accessNewer 2023 house; Zillow 1330/1340 sf discrepancy; superior condition/younger than 8015, threebedrooms

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P155] [P156]. Full links and vintages are in the source ledger.

839 Angle St NE, Palm Bay, FL 32905

SFR · Palm Bay-Melbourne-Titusville, FL · $249,900 asking · $249,900 per marketed unit. Direct listing

Availability: Compass Active / Redfin cached off-market conflict; reconfirm before use. Observation date: October 3, 2026. Legal qualification: unverified; no Buy clearance.

Unit mix and size: 3 beds / 2 baths; 1,298 square feet; $193 per square foot; built 1972 (listing). DOM: 26 days in search snapshot; availability conflict. Price history: 249900 listed Sep 2; nocutobserved.

Rent and occupancy: Whole-home modeled rent $1,750/month; asking-comp range $1,650–$1,850. Executed subject rent and lease expiration not obtained. Per-bedroom arithmetic $583 is allocation only, not achievable room rent; no room-rental income credited.

Condition claims: roof: Metal roof installed, yearunknown; hvac: No age evidence; plumbing: Listing claimsup-to-code, new water heater recently; notpermit verification; electrical: Listing claimsup-to-code; notinspection verification; other: Concreteblock, hurricanes shutters. Immediate capital needs: Roof age/HVAC age/four-point/wind mitigation and electrical/plumbing claim verification. No capital amount is treated as zero.

Tax and recurring budgets: Assumed 2.0% of offer; unknown non-ad-valorem charges remain unpriced. Property insurance $4,500, separate flood placeholder $1,500, owner utilities/services $1,200, included HOA $0 annually. HOA documents and all exact cost quotes remain unverified.

Base annual model: Stabilized ordinary annual whole-home rental assumption. Scheduled potential $21,000; EGI $19,320; operating expenses $15,600 (80.7% of EGI); NOI $3,720; reserve $1,050; debt service $17,294. Cap 1.5%; after-reserve unlevered yield 1.1%.

Debt resilience for SFR-PALM-ANGLE
ScenarioConventional DSCRAfter reserve DSCRAnnual cash flow after debtBase BEO
Base 8.50%0.22x0.15x-$14,624169.4%
Rent −5%; OER +5 pp0.15x0.09x-$15,727See base definition
Rate 9.50%0.20x0.14x-$16,242177.9%
Combined operating and rate stress0.14x0.08x-$17,345Separate stress scenario

Conditional maximum price: $71,131 at 85% BEO; preferred $60,537 at 80%; $66,317 at 9.50% and 85%. Before acquisition capital and unresolved costs; common DSCR and stress gates apply.

Why retain it: A current public asking price and a bounded ordinary annual-rent assumption allow a falsifiable price screen. Largest risk: Active/off-market conflict.

Subject rental asking comparisons
ComparableAsking rent and sizeLease termSource vintageAdjustment limitation
976 Hampshire Ave NE, Palm Bay, FL 32905$1,810; 3BR/2BA; 1,386 sfNot verifiedZillow 2 weeks before access 1810; Zumper 3 weeks 1850Slightly larger 3/2 same ZIP; feed price conflict, use lower anchor
1569 Richards Dr NE, Palm Bay, FL 32905$1,650; 3BR/2BA; 1,090 sfNot verifiedCrawled 2 weeks before access; 37 daysin listing snapshotSmaller home lower bracket
870 Angle St NE, Palm Bay, FL 32905$1,750; 2BR/2BA; 1,304 sfNot verifiedCrawled 2 weeks before access; 14 daysin listing snapshotSame street and close size buttwo bedrooms, secondary context only

Asking comparisons only; unverified terms, promotions and different property form limit confidence. No executed rent or alternative-strategy premium is established.

Property evidence: [P157] [P158] [P159]. Full links and vintages are in the source ledger.

This is a jurisdictional research map, not parcel permission. Municipality, unincorporated county and postal city are different. A license, tax-use code, assessor unit count, bedroom in a listing, fee-schedule line or separate meter does not legalize a use. All alternative strategies remain unverified and receive zero added income or score. A normal annual rental also needs lawful existing occupancy and contractual clearance.

Jurisdiction: Duval consolidated city; exclude independent beach municipalities.

Sources: [S25]; [S26].

Jurisdiction: Marion; city rules distinct from unincorporated county.

Sources: [S27].

Jurisdiction: Alachua; municipal jurisdiction only.

Sources: [S28]; [S29].

Jurisdiction: Leon; city distinct from county.

Sources: [S30]; [S31]; [S32].

Jurisdiction: Escambia; postal Pensacola can lie outside city.

Sources: [S33].

Jurisdiction: Polk; city distinct from unincorporated county.

Sources: [S34].

Jurisdiction: Orange; do not confuse with unincorporated Orange or Kissimmee/Osceola.

Sources: [S35]; [S36].

Jurisdiction: Hillsborough; city distinct from county.

Sources: [S37].

Jurisdiction: Pinellas; not St Pete Beach or unincorporated county.

Sources: [S38].

Jurisdiction: Lee; municipal jurisdiction.

Sources: [S39].

Jurisdiction: Sarasota; city rules distinct from unincorporated county.

Sources: [S40].

Jurisdiction: St Lucie; not Fort Pierce or unincorporated county.

Sources: [S41]; [S42].

Jurisdiction: Miami-Dade; distinct from Miami Beach and unincorporated county.

Sources: [S43].

Jurisdiction: County land-use authority; exclude municipalities.

Sources: [S44]; [S45].

Jurisdiction: County is many municipalities; Fort Lauderdale example only.

Sources: [S46]; [S47].

Jurisdiction: Resolve municipality versus unincorporated zoning.

Sources: [S48]; [S49].

Jurisdiction: County zoning; not Ocala city.

Sources: [S58]; [S59].

Jurisdiction: County zoning; not Pensacola city.

Sources: [S60]; [S61].

Jurisdiction: County zoning; not Winter Haven/Lakeland city.

Sources: [S62]; [S63].

The Deltona/Daytona, Palm Bay, Panama City and other municipalities not specifically reviewed above have no completed local strategy clearance in this baseline. The same zero-credit rule applies. A parcel in an included MSA but outside a reviewed municipality is not covered by that municipality’s rules.

Every strategy must pass these gates

Florida vacation-rental preemption includes a grandfathering exception for local regulations adopted on or before June 1, 2011. State licensing does not supersede zoning, safety or private covenants. A furnished 30-day lease may still trigger transient-accommodation taxes; duration classifications vary by law and jurisdiction. Written owner/lender/insurer/HOA approval is mandatory for the report’s master-lease or sublet scenario. Never assume a detached home may be subdivided into separate dwelling units.

Sources: [S05]; [S06]; [S07]; [S08].

Insurance flood tax utility and physical risk

Post-sale taxation is modeled anew. A seller’s homestead exemption, Save Our Homes benefit or capped nonhomestead assessment is not an investor tax budget. The nonhomestead residential assessment reset generally occurs January 1 after ownership/control changes; the subsequent 10% assessment cap excludes school taxes and does not cap the tax bill. Use all levies and non-ad-valorem assessments. The report’s 2% fallback is an assumption, not a county millage or tax advice.

Sources: [S11]; [S12]; [S13].

County homeowner insurance cost context
CountyOIR homeowner average including windSFR model budgetDuplex model budget3 to 4 unit model budget
Duval$2,786$3,500$4,500$6,000
Marion$2,191$3,500$4,500$6,000
Alachua$2,525$3,500$4,500$6,000
Leon$2,538$3,500$4,500$6,000
Escambia$3,702$4,700$5,600$7,500
Polk$2,767$3,500$4,500$6,000
Orange$3,610$4,600$5,500$7,300
Hillsborough$3,525$4,500$5,300$7,100
Pinellas$4,063$5,100$6,100$8,200
Lee$3,576$4,500$5,400$7,200
Sarasota$3,457$4,400$5,200$7,000
St. Lucie$3,491$4,400$5,300$7,000
Miami-Dade$5,975$7,500$9,000$12,000
Broward$6,136$7,700$9,300$12,300
Palm Beach$6,323$8,000$9,500$12,700
Brevard$3,532$4,500$5,300$7,100

OIR report published July 1, 2026; underlying county data March 31, 2026. These are homeowner averages, not landlord policy quotes. Analyst multipliers deliberately differ by property type and are rounded up to $100. A separate $1,500 annual flood placeholder is included in numeric screens. It is not a quote, can be materially inadequate and never clears an unknown flood zone. Brevard’s $3,532 homeowner context produces a $4,500 SFR budget for the Palm Bay reserve; its availability conflict remains unresolved.

Sources: [S14].

Sources: [S15]; [S16]; [S17]; [S18]; [S19]; [S20]; [S50]; [S51]; [S52]; [S53]; [S65]; [S66].

Crime and schools are not scored. Use FDLE and actual agency incident data for a consistent period and geography, with reporting-completeness checks, rather than unexplained safety scores. For schools, verify the exact parcel’s current attendance assignment with the district and consult FDOE’s school-year methodology; nearby names or a single grade do not guarantee assignment or summarize educational quality. Rankings use rents, prices, jobs, supply and documented property risk, not protected-class composition or proxies.

Sources: [S54]; [S55]; [S56]; [S57].

Underwriting method and purchase thresholds

Financing assumption: 75% LTV, 8.50% fixed, fully amortizing 30-year principal and interest. At that rate $100,000 of debt costs $769/month; at 9.50%, $841/month. This is not an investor quote or commitment. The October 1 Freddie Mac benchmark of 7.28% describes conventional conforming purchase loans with 20% down and excellent credit. Investor spread, lender fees, prepayment penalties and actual eligibility must be quoted.

Sources: [S01]; [S02]; [S03].

Common assumptions and denominator discipline
InputTreatment
RAnnual scheduled gross potential ordinary annual rent of the existing units; no ancillary income
Economic vacancy and collection loss8% of R; EGI = 0.92 × R
Management10% of EGI, even if initially self-managed
Routine maintenance7% of R, kept separate from capital replacement
Fixed expenses FPost-sale tax, insurance, flood, known HOA, owner utilities/services, known recurring licenses; no debt
Replacement reserve5% of R, deducted below conventional NOI
Tax2% of offer plus known assessments unless a better documented model is stated; Gainesville current-tax floor applies
Utilities/services$100 per unit per month provisional where unknown; source-specific amounts otherwise; Sutor $1,200 annual owner-service placeholder
Unknown HOA and other feesNot silently cleared; an included zero is unpriced or a no-fee listing claim; numerical ceiling remains conditional
Upfront capitalInspection/rehab/turnover, permitting, lease-up, fees/points and closing costs are separate acquisition uses, not zero

Buy threshold: legal use and unit count, separately metered configuration, non-waterfront suitability, annual rent and collections, title/deed/HOA, exact financing, post-sale tax, insurance/flood, inspections and capital bids all cleared; then base coverage at least 1.25x, stress at least 1.00x and BEO at most 85%, preferably 80%. A mathematically passing hypothetical is not a legal or physical clearance. Watch: a useful evidence-backed lead with unresolved gates or asking-price shortfall. Avoid: an offer based on prohibited/unverified use, unsupported rent, hidden capital, ineligible finance, uninsurable condition, or a price that only works with appreciation/refinance.

Comparison with the earlier Gulf baseline

This is the first statewide edition, so statewide month-over-month arrows and score changes are not available. The October 1 Gulf report is a different geographic series and remains a historical record. Its complete scores and best labels are not imported as verified statewide facts. Current property status, rent rolls, legal counts and costs must be re-established before comparing an individual asset.

Qualified methodology comparison
ItemOctober 1 Gulf baselineOctober 3 statewide baseline
GeographyGulf submarkets and city/county examples22 current Florida MSAs with source-specific geography notes
Debt assumption7.75% modeled investor debt8.50% modeled; 9.50% sensitivity; ↑0.75 percentage point in analyst assumption, not a measured investor quote change
Conforming benchmark citedSeptember 24 7.03%October 1 7.28%; ↑0.25 percentage point, official weekly benchmark
Expense modelBroad percentage assumptionsExplicit management, repair, tax, insurance, utilities and below-NOI replacement reserve
ScoringHistorical full-score presentation55/100 evidence coverage generally; missing components unscored
Candidate statusHistorical screened winnersNo legal-qualified winners; individual listing and permit conflicts retained
Monthly arrowsGulf series starts comparisons after its baselineNo prior statewide edition; current YoY/acceleration uses source history only

Archive key: 2026-10-03 baseline. Scheduled monthly statewide history begins with a distinct 2026-10-15 edition and continues through September 2027. The October 3 baseline is not overwritten by the October 15 report. Preserve source vintages and as-reported values alongside later revised observations; do not backfill a changed source into an earlier issued report. On the twelfth scheduled edition, use the full monthly record to evaluate the most robust market and then-current available purchase candidates, with remaining diligence stated.

Next decisions and red flags

Sources and source vintages

All sources were retrieved for this baseline on October 3, 2026 unless a card states a cached observation. A live URL does not guarantee its listing data is current. Full hyperlinks are preserved in HTML, plain text and the machine-readable source ledger. Public data files contain market/property facts and model assumptions only; personal delivery and account information is excluded.

RDC_M · Realtor.com Economic Research monthly inventory
2026-09; published/modified 2026-09-30. 2023 OMB MSA; SFR + condo/townhome/rowhome/co-op resale listings; MLS-listed new construction can be included. Not multifamily-specific; not closed sale price; not investor property rent; use native cut share rather than dividing raw cuts by snapshot inventory

RDC_S · Realtor.com statewide monthly inventory
2026-09; published/modified 2026-09-30. State of Florida; Same all-residential listing mix as metro data. Not equal to sum of metro medians; state includes nonmetro areas

RDC_REPORT · Realtor.com September publication and methodology
2026-09; published/modified 2026-09-30. Nation/regions/top50 current MSAs; residential listings. National pending-sale report cleaning differs from legacy CSV; use one series consistently

RDC_RENT · Realtor.com August Rental Report
2026-08; published/modified 2026-09-17. Current named MSAs; 4 Florida metros in top50; 0–2 bedroom apartments AND private SF/condo/townhouse rentals. Not multifamily-only; not effective rent or 3–5BR SFR rent

ZORI_SFR · Zillow Observed Rent Index single-family residences
2026-08-31; published/modified 2026-09-16. Provider metro/msa names; boundary vintage unverified; single-family residences. Not effective rent; concessions not deducted. MFR excludes 2–4-unit classification; broad SFR index not bed-specific

ZORI_MFR · Zillow Observed Rent Index 5+ unit rental buildings
2026-08-31; published/modified 2026-09-16. Provider metro/msa names; boundary vintage unverified; 5+ unit rental buildings. Not effective rent; concessions not deducted. MFR excludes 2–4-unit classification; broad SFR index not bed-specific

ZORI_SFRCONDOMFR · Zillow Observed Rent Index all homes plus multifamily
2026-08-31; published/modified 2026-09-16. Provider metro/msa names; boundary vintage unverified; all homes plus multifamily. Not effective rent; concessions not deducted. MFR excludes 2–4-unit classification; broad SFR index not bed-specific

ZHVI · Zillow Home Value Index
2026-08-31; published/modified 2026-09-16. Provider metro names; single-family + condo/co-op, middle-tier typical value. Not median closed price, MF asset value, asking price or appraisal; August narrative press release differs from downloaded CSV. Use CSV vintage consistently

ZILLOW_DEFS · Zillow data definitions
Definitions viewed 2026-10-03; published/modified 2026-10-03 retrieval. all; all. Provider boundary vintage not verified

FR_MSA · Florida Realtors August MSA summary
2026-08 and 2026 YTD; published/modified 2026-09-16. 2013 OMB MSA; SFR separately from condo/townhouse. Gainesville Alachua/Gilchrist excludes Levy. Panama City Bay/Gulf differs from current Bay/Washington. Median-price change can reflect composition

FR_SFR · Florida Realtors statewide SFR detail
2026-08; published/modified 2026-09-16. State of Florida; single-family homes. Original-list ratio differs from final-list ratio; time to contract differs from Realtor DOM

FR_CONDO · Florida Realtors statewide condo detail
2026-08; published/modified 2026-09-16. State of Florida; condo/townhouse units. Not apartment-building multifamily market

BLS · BLS Metropolitan Area Employment and Unemployment
2026-08 preliminary vs 2025-08; published/modified 2026-09-30. Current MSAs; Miami/Tampa divisions separately; not a housing property metric. Not seasonally adjusted. Labor force is not payroll jobs. Unemployment and payroll covary but are different denominators

CENSUS_POP · Census Vintage 2025 CBSA population and components
July 1 2025 and revised 2024/2023; published/modified 2026-03-26. Current Census MSA with county/division components; all residents. People are not households; does not measure current2026 migration; same vintage used across years

BPS_cbsa2608y.txt · Census Building Permits Survey Jan–Aug2026 YTD
2026-01 to2026-08; published/modified 2026-09-24. Current CBSA with metro/micro indicator; one-unit;2-unit;3–4-unit;5+-unit structure classes. Permits are neither starts nor deliveries. Do not doublecount reported-only fields. 2025 YTD comparator is its published contemporaneous file and may differ from annual-benchmarked totals

BPS_cbsa2508y.txt · Census Building Permits Survey Jan–Aug2025 YTD
2025-01 to2025-08; published/modified 2025-09-24. Current CBSA with metro/micro indicator; one-unit;2-unit;3–4-unit;5+-unit structure classes. Permits are neither starts nor deliveries. Do not doublecount reported-only fields. 2025 YTD comparator is its published contemporaneous file and may differ from annual-benchmarked totals

BPS_cbsa2025a.txt · Census Building Permits Survey final annual2025
2025; published/modified 2026-05-14. Current CBSA with metro/micro indicator; one-unit;2-unit;3–4-unit;5+-unit structure classes. Permits are neither starts nor deliveries. Do not doublecount reported-only fields. 2025 YTD comparator is its published contemporaneous file and may differ from annual-benchmarked totals

BPS_cbsa2608c.txt · Census Building Permits Survey August2026 monthly
2026-08; published/modified 2026-09-24. Current CBSA with metro/micro indicator; one-unit;2-unit;3–4-unit;5+-unit structure classes. Permits are neither starts nor deliveries. Do not doublecount reported-only fields. 2025 YTD comparator is its published contemporaneous file and may differ from annual-benchmarked totals

HVS_RATE · Census annual housing vacancy Table6
2025 annual and 2024; published/modified 2026-03-24. 75 largest MSAs, 6 Florida; source says2010 definitions; all rental housing. 2025 based on11 months because October not collected; old boundaries; not asset-specific; do not substitute STR occupancy

HVS_MOE · Census annual HVS margin of error TableB4
2025 annual; published/modified 2026-03-24 associated annual release. Same named75 metros; all rental housing. Workbook legacy note says2000 while rate table says2010; exact boundary comparability unverified. No claim that YoY changes are statistically significant

ATTOM · ATTOM August2026 foreclosure market report
2026-08; published/modified 2026-09-17. Florida statewide and selected metros including PuntaGorda; housing units/properties with filings. State1in2397 units; PuntaGorda1in1249. Not a discount measure or broad all-metro distress panel

S01 · Freddie Mac October 1, 2026 PMMS
2026-10-01. Official or primary risk guidance. 30-year FRM benchmark 7.28%; prior week 7.03%; conventional conforming fully amortizing purchase loans, 20% down, excellent credit. Not an investment-property or DSCR offer.

S02 · Lima One rental lending
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Advertises 30-year fixed, ARM and interest-only products, up to 80% LTV purchase, rates as low as 6.25%. Marketing floor, not an executable quote; terms and prepayment vary.

S03 · Kiavi investment loans explanation
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Explains a common SFR lender DSCR as gross monthly rent divided by principal, interest, taxes, insurance and HOA; lender-specific minimums differ.

S04 · Kiavi current homepage
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Advertises DSCR rental loans starting at 6.125%; not a committed borrower/property quote.

S05 · DBPR vacation rental guide
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Entire-unit transient rental licensing may be triggered by more than three rentals per calendar year shorter than 30 days/one calendar month (whichever is less), or regular public advertising. Room-only rentals are not classified by this division as public lodging; local jurisdiction still applies.

S06 · Florida DOR transient accommodations tax guide
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Six-month-or-less rentals generally face transient-accommodation taxes; bona fide written continuous-residence leases longer than six months qualify for the described exemption. For continuously occupied taxable stays, seventh-month treatment differs. Review exemptions and current rates.

S07 · Florida DOR local-option transient rental taxes
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Counties may impose local tourist/transient taxes in addition to state sales tax and discretionary surtax. Short-term local taxation is not limited to stays under 30 days.

S08 · Florida Statutes 509.032 (2026)
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Section 7(b) restricts local prohibition and duration/frequency regulation of vacation rentals, with pre-June 1, 2011 grandfathering; state preemption is not a parcel zoning/fire/building clearance.

S09 · Florida Statutes 163.31771 (2026)
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Published current text remains a permissive local-government ADU ordinance provision, with affordability affidavit language. Do not assume an automatic statewide right from bill amendments.

S10 · Chapter 2026-179 enrolled law
2026. Official or primary risk guidance. Final law reviewed; earlier HB1389 versions referenced an ADU mandate, but final chapter does not contain that amendment. Avoid treating intermediate bill text as enacted law.

S11 · Florida Statutes 193.1554 (2026)
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Nonhomestead residential (nine or fewer units) resets to just value the January 1 after ownership/control change, subject to exceptions; subsequent 10% assessment-growth cap excludes school levies. Additions can be separately assessed. This is not a tax-bill cap.

S12 · Florida DOR exemptions and Save Our Homes
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Homestead exemption is not transferred from the seller; eligible owners may port their own qualifying SOH benefit to a new homestead. Permanent residence and county-appraiser determination matter.

S13 · Florida DOR taxpayer tax calculation
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Use taxable value and each applicable millage; actual local tax authority rates and assessment basis matter. Include non-ad-valorem amounts separately.

S14 · OIR July 2026 Property Insurance Stability Report
2026-07-01. Official or primary risk guidance. County homeowners incl-wind averages use MIR as of March 31, 2026. Premiums divided by policies; property mix varies. These are not landlord, flood or individual quotes.

S15 · Citizens flood insurance requirements
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. For relevant personal-residential wind policies outside SFHA, Coverage A threshold is $400,000 in 2026 and all values in 2027. SFHA requirements already apply. Condo-unit, tenant-content and no-wind exceptions shown. Coverage A is not purchase price.

S16 · Citizens July 2026 approved rate update
2026-04-30. Official or primary risk guidance. Approved July 1, 2026 updates describe average homeowner multiperil decrease 8.8% and wind-only decrease 5.1%. Product/territory/primary status differ; not a landlord quote or guaranteed reduction.

S17 · FEMA official flood-hazard data
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. MSC is official NFIP hazard-information source; obtain effective FIRM/FIRMette and NFHL plus map date, flood zone, BFE and applicable LOMAs/LOMRs.

S18 · NOAA Sea Level Rise Viewer limits
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Screening tool, not site engineering. Inundation depends on elevation/hydrologic connections and excludes several processes including erosion, subsidence and future construction.

S19 · FEMA substantial improvement/damage guidance
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. 50% substantial improvement/damage threshold compares qualifying work/restoration costs with structure value, not land-inclusive purchase price; local administration/cumulative rules require review.

S20 · NFIP coverage and exclusions
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Most homeowners insurance excludes flood. NFIP residential limits described as $250,000 building/$100,000 contents; listed exclusions include temporary housing, additional living expenses, and various property outside the building.

S21 · Florida Fire Prevention Code
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. 8th edition effective December 31, 2023 shown; local fire officials enforce applicable occupancy and local amendments. A 9th-edition development process exists; do not treat draft as effective.

S22 · Florida Building Commission June 2026 workplan
2026-06. Official or primary risk guidance. 2026 ninth-edition workplan targets December 31, 2026 but has unresolved milestones. Obtain permit-date edition/amendments from local building official; October underwriting must not assume draft code controls.

S23 · Pinellas official bedroom egress guidance
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Official explanation of 2023 residential emergency escape/rescue openings and bedroom conversions; exceptions/application depend on construction and occupancy.

S24 · DBPR condominium inspections
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. MI/SIRS applicability, reserve funding and possible assessments need review for condos. Certain associations may complete SIRS with MI by December 31, 2026; this is not a universal extension.

S25 · Jacksonville official STR responsibilities
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Directs owners to state/county registration, fire inspection when required, trafficking signage, land use/zoning/parking/noise. Platform tax collection does not assure complete compliance.

S26 · Jacksonville ADU adopted legislation history
2022. Official or primary risk guidance. Identifies Chapter 656 ADU amendments, but this research did not establish the complete currently effective dimensional/occupancy conditions for any parcel.

S27 · Ocala zoning definitions
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Defines dwelling unit with independent cooking/sleeping facilities and single-family as one unit. Definitions alone do not establish permitted ADU/room-rental/STR use.

S28 · Gainesville ADU permitting guide
2024-12-18. Official or primary risk guidance. City says ADUs available in single-family neighborhoods/most districts subject to standards and permits. Not proof of parcel capacity.

S29 · Gainesville code enforcement guidance
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Rental housing ordinance and over-occupancy/parking rules apply; unpermitted added units are illegal regardless of how long they existed. Confirm rental permit and inspection applicability.

S30 · Tallahassee short-term rental FAQ
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. City FAQ says zoning does not distinguish rental duration and allows STR. Does not waive state/local licenses, safety, property restrictions or parcel compliance.

S31 · Tallahassee current ADU overview
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Overview gives MMTD-dependent unit counts, up to 1,200 sqft/two stories, setbacks/lot-coverage conditions. An older official FAQ conflicts; current code/written determination should resolve.

S32 · Tallahassee ADU spotlight
2023-10-10. Official or primary risk guidance. Describes long/short-term ADU rental and conversion paths with building permits; MMTD/district-specific requirements still apply.

S33 · Pensacola codified zoning/ADU provisions
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. One ADU accessory to detached SFR; retrieved code includes lot/size/design restrictions. February 2026 draft LDC surfaced separately; adoption/current text must be reconciled before reliance.

S34 · Lakeland planning FAQ
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. ADUs described only in Urban area with Section 4.3.2.1 conditions; lot split requires city review for legal dimensions. No parcel authorization established.

S35 · Orlando home-sharing registration
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Under-30-day home share requires resident present on site, one booking, at most half dwelling, occupancy and registration conditions. Whole-house investor STR is not authorized by this program.

S36 · Orlando ADU step-by-step guide
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Eligible zoning/lot sizes and standards control; long-term ADU rental can be possible; shared ownership; short-term has special rules. ADU cannot be independently sold absent lawful separate-lot redevelopment.

S37 · Tampa ADU official page
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. ADUs limited to listed areas/overlays; elsewhere Extended Family Residence distinction; main residence owner-occupied. Verify latest code and address eligibility rather than citywide assumption.

S38 · St Petersburg transient accommodations handout
2023. Official or primary risk guidance. City handout says under-30-day rental generally limited to three times in consecutive 365 days unless zoning allows relevant transient use; current parcel/legal-use review required.

S39 · Cape Coral rental registration
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. 2026 annual rental registration; >6mo $35, <=6mo $350. Room-only rental included. FAQ states six-night minimum. Inconsistent penalty summaries should be checked in ordinance, not generalized.

S40 · North Port posted ULDC
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Section 3.7.2 permits conditional ADU route; water/sewer or well/septic separation, habitable-building/flood standards, max800sqft/65% primary living area. Current parcel zoning and amendments remain necessary.

S41 · Port St Lucie business tax
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. City lists rental-property lessors among businesses needing BTR before operation; BTR expires September30. Not zoning clearance.

S42 · Port St Lucie accessory-use code
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Retrieved single-family accessory-use enumeration is restrictive. Fee schedules mentioning ADUs do not independently authorize a rental ADU. Written current district determination required.

S43 · City of Miami zoning FAQ
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Under-30-day stays are lodging: transect must allow lodging and building certificate must authorize it. Postal Miami address does not establish City jurisdiction.

S44 · Unincorporated Miami-Dade STR
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Annual CU, inspection and state/tax requirements; max2/bedroom+2, max12 excluding under3 per official guidance. Municipal properties must use municipal rules.

S45 · Unincorporated Miami-Dade ADU
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Conditional one-ADU route, renewable CU/inspection/parking. ADU cannot be rented separately as vacation rental; if owner onsite, owner occupies main unit. Guesthouse cannot rent for fee; shared ownership restriction.

S46 · Fort Lauderdale vacation rental registration
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. State/county prerequisites, local registration/BTR/inspection. Legal bedrooms verified for max2perbedroom; offstreet parking documentation. $880 registration shown but verify fee at application. Not Broward-wide.

S47 · Fort Lauderdale landlord registry
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Rental landlord registration described; owner-occupied and vacation rentals excluded from this registry and require separately applicable rules.

S48 · Palm Beach County tourist tax
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Vacation rentals need short-term rental local business tax receipt for each TDT account; filing may be required even zero rental activity. Municipality/zoning restrictions separate.

S49 · Palm Beach County zoning FAQ
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Provides official zoning lookup and current ULDC references. No countywide ADU/STR clearance established; older2015 ADU PDF excluded from affirmative legal conclusions.

S50 · Cape Coral tax-billed assessments
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. UEP line extension+capacity charges and financed installments may appear on tax bill. Current payoff/parcel assessments required. Operating millage alone excludes assessments.

S51 · Cape Coral North1 UEP
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Project page states construction notices December2025 and expected end2027 completion; timing is a schedule, not completion guarantee. Verify assessed parcel notices.

S52 · Cape Coral North3 UEP
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Official project page anticipates2026 construction/end2028 completion but contains conflicting design-stage statements. Latest assessment resolution/roll needed; no guessed liability.

S53 · North Port wastewater expansion
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Existing septic conversion/service-expansion planning can affect parcel economics. Service availability and actual connection/assessment cost require verification.

S54 · FDLE FIBRS
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Agency-submitted verified incident data2021-present; identify reporting coverage, agency boundaries, period and comparable offense definitions before ranking.

S55 · FDLE reporting transition
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Summary and incident reporting differ; missing agencies during transition can undermine raw comparisons.

S56 · FDOE school grades2026
2026-09-08. Official or primary risk guidance. Current2026 school/district grade data and methodology available. Confirm attendance assignment with district by parcel for relevant school year; listing labels are insufficient.

S57 · FDOE district information
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Official starting point for district contacts and reported education data; use district attendance-zone tools for property assignment.

S58 · Marion current LDC entrypoint
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. County current-code/planner entrypoint. Public code-retrieval was incomplete; parcel written verification needed.

S59 · Marion government-hosted workforce housing plan
2024. Official or primary risk guidance. Historical policy document reports family/guest ADUs as noncommercial under4.3.18; current restriction must be reconciled. Strong reason not to value market-rent ADU upside.

S60 · Escambia written zoning verification
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Official form/process to obtain zoning/land-use determination; Escambia rules differ from Pensacola city. No candidate clearance completed.

S61 · Escambia codified LDC entrypoint
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Current code source lead; full applicable accessory-use, occupancy, duration and permit conditions not completed for candidates.

S62 · Polk current LDC chapter2
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Current code includes Section206 accessory uses; direct retrieval incomplete. Older official plan says ADUs prohibited in developments approved for STR, so verify amended current text.

S63 · Polk official housing-incentives plan
2022. Official or primary risk guidance. Historical official description of ADU Level1 review and STR-development exclusion; use as diligence lead only.

S64 · Duval official JFK parcel
2026 in-progress. Official or primary risk guidance. Candidate worker reports official parcel: RE030290-0260,GS tax district,0100 single family,RLD-60; listing3bed/2bath versus narrative4. This strategy researcher has not independently completed parcel zoning clearance.

S65 · Florida seller flood disclosure, 689.302
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Seller must provide prescribed flood disclosure at or before contract execution, including known flooding, claims and assistance. Disclosure is not an engineering or insurance determination.

S66 · Florida DEP sinkhole diligence
Publication/update date not established; accessed October 3, 2026. Official or primary risk guidance. Regional occurrence mapping cannot predict an individual parcel; certified repair/engineering review and insurance terms matter. Catastrophic-ground-collapse coverage and broader sinkhole coverage differ.

P088 · 1811/1815 Whitner Street, Jacksonville, FL 32209 listing url

P089 · 1811/1815 Whitner Street, Jacksonville, FL 32209 supplemental listing url

P090 · 1811/1815 Whitner Street, Jacksonville, FL 32209 assessor url

P091 · 6600/6602 Pot O Gold Lane, Orlando, FL 32809 listing url

P092 · 6600/6602 Pot O Gold Lane, Orlando, FL 32809 assessor url

P093 · 6600/6602 Pot O Gold Lane, Orlando, FL 32809 permit url

P094 · 1010/1012 Gerald Avenue, Lehigh Acres, FL 33936 listing url

P095 · 1010/1012 Gerald Avenue, Lehigh Acres, FL 33936 assessor url

P096 · 1010/1012 Gerald Avenue, Lehigh Acres, FL 33936 permit url

P097 · 1255 NE 110th Terrace, Miami, FL 33161 listing url

P098 · 1255 NE 110th Terrace, Miami, FL 33161 supplemental listing url

P099 · 1255 NE 110th Terrace, Miami, FL 33161 assessor search url

P100 · 1255 NE 110th Terrace, Miami, FL 33161 secondary record url

P101 · 3701 W Brainerd Street A & B, Pensacola, FL 32505 listing url

P102 · 3701 W Brainerd Street A & B, Pensacola, FL 32505 supplemental listing url

P103 · 3701 W Brainerd Street A & B, Pensacola, FL 32505 assessor search url

P104 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 listing url

P105 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 financial listing url

P106 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 assessor url

P107 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 assessor building card url

P108 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 zoning code url

P109 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 roof permit url

P110 · 4265 SW 51st Street #1-3, Dania Beach, FL 33314 fence permit url

P111 · 5200-5208 NW 16th Street, Lauderhill, FL 33313 listing url

P112 · 5200-5208 NW 16th Street, Lauderhill, FL 33313 supplemental listing url

P113 · 5200-5208 NW 16th Street, Lauderhill, FL 33313 assessor building card url

P114 · 5200-5208 NW 16th Street, Lauderhill, FL 33313 permit lookup url

P115 · 1403 College Park Lane, Tampa, FL 33612 listing url

P116 · 1403 College Park Lane, Tampa, FL 33612 assessor url

P117 · 1403 College Park Lane, Tampa, FL 33612 permit lookup url

P118 · 1403 College Park Lane, Tampa, FL 33612 supplemental listing url

P119 · 134 W 32nd Street, Jacksonville, FL 32206 listing url

P120 · 134 W 32nd Street, Jacksonville, FL 32206 assessor url

P121 · 134 W 32nd Street, Jacksonville, FL 32206 supplemental listing url

P122 · 519 W 23rd St, Jacksonville, FL 32206 url

P123 · 519 W 23rd St, Jacksonville, FL 32206 url

P124 · 519 W 23rd St, Jacksonville, FL 32206 url

P125 · 519 W 23rd St, Jacksonville, FL 32206 url

P126 · 902–904 E Lime St, Lakeland, FL 33801 url

P127 · 902–904 E Lime St, Lakeland, FL 33801 url

P128 · 902–904 E Lime St, Lakeland, FL 33801 url

P129 · 997 Sutor Rd, Tallahassee, FL 32311 url

P130 · 997 Sutor Rd, Tallahassee, FL 32311 url

P131 · 997 Sutor Rd, Tallahassee, FL 32311 url

P132 · 997 Sutor Rd, Tallahassee, FL 32311 url

P133 · 997 Sutor Rd, Tallahassee, FL 32311 url

P134 · 997 Sutor Rd, Tallahassee, FL 32311 url

P135 · 1840 Lafayette St, Fort Myers, FL 33901 url

P136 · 1840 Lafayette St, Fort Myers, FL 33901 url

P137 · 1504 W 15th St, Jacksonville, FL 32209 url

P138 · 1504 W 15th St, Jacksonville, FL 32209 url

P139 · 3333 Almeda St, Jacksonville, FL 32209 direct listing url

P140 · 3333 Almeda St, Jacksonville, FL 32209 supporting source

P141 · 3333 Almeda St, Jacksonville, FL 32209 supporting source

P142 · 8625 Stockdale Ave, Pensacola, FL 32514 direct listing url

P143 · 8625 Stockdale Ave, Pensacola, FL 32514 supporting source

P144 · 8625 Stockdale Ave, Pensacola, FL 32514 supporting source

P145 · 1195 Simpson St, Pensacola, FL 32526 direct listing url

P146 · 1195 Simpson St, Pensacola, FL 32526 supporting source

P147 · 1195 Simpson St, Pensacola, FL 32526 supporting source

P148 · 3946 Magellan Trail, Tallahassee, FL 32303 direct listing url

P149 · 3946 Magellan Trail, Tallahassee, FL 32303 supporting source

P150 · 3946 Magellan Trail, Tallahassee, FL 32303 supporting source

P151 · 3946 Magellan Trail, Tallahassee, FL 32303 supporting source

P152 · 4001 NW 48 th Place, Gainesville, FL 32606 direct listing url

P153 · 4001 NW 48 th Place, Gainesville, FL 32606 supporting source

P154 · 4001 NW 48 th Place, Gainesville, FL 32606 supporting source

P155 · 8015 Galveston Ave, Jacksonville, FL 32211 direct listing url

P156 · 8015 Galveston Ave, Jacksonville, FL 32211 supporting source

P157 · 839 Angle St NE, Palm Bay, FL 32905 direct listing url

P158 · 839 Angle St NE, Palm Bay, FL 32905 supporting source

P159 · 839 Angle St NE, Palm Bay, FL 32905 supporting source

P160 · 1444 W 6 th St, Jacksonville, FL 32209 advertised rental

P161 · 1668 W 8 th St, Jacksonville, FL 32209 advertised rental

P162 · 111 Wildflower Ln, Pensacola, FL 32514 advertised rental

P163 · 4290 La Borde Ln, Pensacola, FL 32514 advertised rental

P164 · 1229 Brownfield Rd, Pensacola, FL 32526 advertised rental

P165 · 6942 Falcon Dr, Pensacola, FL 32526 advertised rental

P166 · 3197 Wood Hill Dr, Tallahassee, FL 32303 advertised rental

P167 · 4517 Eltham Park, Tallahassee, FL 32303 advertised rental

P168 · 2626 Faversham Dr, Tallahassee, FL 32303 advertised rental

P169 · 3526 NW 53 rd Ter, Gainesville, FL 32606 advertised rental

P170 · 4731 NW 39 th St, Gainesville, FL 32606 advertised rental

P171 · 1447 Lawrence Place, Jacksonville, FL 32211 advertised rental

P172 · 7037 Pellias Rd, Jacksonville, FL 32211 advertised rental

P173 · 8719 Galveston Ave, Jacksonville, FL 32211 advertised rental

P174 · 976 Hampshire Ave NE, Palm Bay, FL 32905 advertised rental

P175 · 3507 SW 155 th Ln, Ocala, FL 34473 advertised rental

P176 · 5107 SW 165 th Street Rd, Ocala, FL 34473 advertised rental

P177 · 1734 35 th St NW, Winter Haven, FL 33881 advertised rental

ACS_TIMING · Census ACS 2025 one year release timing advisory
August 2026 advisory; retrieved October 3. ACS publication timing. Release timing under disclosure-avoidance review; no 2025 household-growth estimate is assumed available

HUD_FMR27 · HUD Fiscal Year 2027 Fair Market Rents final notice
Published September 1, 2026; effective October 1 subject to valid area reevaluation. HUD rental program reference. 40th-percentile gross rents including utilities, not subject rent or guaranteed voucher income

HUD_SCHEDULE27 · HUD Fiscal Year 2027 Fair Market Rent schedule
Fiscal year 2027. Area bedroom-size gross rent schedule. Local payment standard, utility allowance and rent-reasonableness review still apply

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