126 Ridge Manor Dr · Lake Wales, FL 33853

$115,000

2 bd · 2.0 ba · 784 sqft · Manufactured public records · 7 Days on market

Built 1983 7,405 sqft lot

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Why this score? — see what drove the C- grade

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

• Cash flow +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This inviting home features 2 spacious bedrooms, 2 full bathrooms, a large carport, a durable metal roof, and a brand-new fence that provides added privacy and security. Conveniently located just minutes from Lake Wales' beautiful lakes, this property offers the perfect blend of comfort, value, and Florida living. Enjoy easy access to boating, fishing, picnicking, and waterfront views at nearby parks and lakes. Outdoor enthusiasts will appreciate the area's hiking trails, biking paths, and abundant recreational opportunities. When you're ready to explore town, historic downtown Lake Wales offers charming cafés, local boutiques, restaurants, and community events throughout the year. W

Key facts

• Durable metal roof
• Waterfront views
• Brand new fence

Tags

• DURABLE METAL ROOF
• BRAND NEW FENCE
• EASY ACCESS TO BOATING
• HIKING TRAILS
• BIKING PATHS
• WATERFRONT VIEWS

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Septic tank sewer
• Home design: Residential mobile home; One level
• Construction: Frame construction; Metal roof
• Exterior features: Front porch with screening; Paved road frontage; Frontage length approximately 75 feet; Zoned R1

Interior

• Flooring: Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Linoleum flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).

Location & tenants

• Location reads 68/100 on livability (#535 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D, amenities F.
• Polk (suburban): math 39% / reading 43% proficiency, ranked #62 of 73 in FL (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 182 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $46k; list at $115k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-6,818
• Equity at exit: $17,147

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $9,292
• Equity at exit: $9,943

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

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

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

Methodology + full state rankings →

ZIP-level market 33853

• Home prices YoY: -9.2%
• Active inventory: 182
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$603
• Tax from tax record: −$122 /mo · $1,463/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $185

Break-even live

Break-even rent $978

Max offer price $115,000

Occupancy floor 80%

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

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 S Scenic Hwy Lake Wales, FL	1.0	1.0	600	$1,500	$2.50	23d	1	0.42mi
610 Emerald Ave Unit 3 Lake Wales, FL	2.0	1.0	864	$1,299	$1.50	21d	1	0.79mi
620 Emerald Ave Unit 1 Lake Wales, FL	2.0	1.0	780	$1,000	$1.28	23d	1	0.81mi
414 1/2 S Miami St Unit B Lake Wales, FL	1.0	1.0	544	$650	$1.19	23d	1	1.01mi
414 1/2 S Miami St Unit A Lake Wales, FL	1.0	1.0	544	$700	$1.29	23d	1	1.01mi
920 Columbia Ave Lake Wales, FL	1.0	1.0	900	$900	$1.00	11d	1	1.08mi
444 E Tillman Ave Unit 5 Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	23d	1	1.16mi
444 E Tillman Ave Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	14d	1	1.16mi
244 E Park Ave Unit 203 Lake Wales, FL	1.0	1.0	614	$1,400	$2.28	23d	1	1.27mi
244 E Park Ave Unit 201 Lake Wales, FL	2.0	2.5	1119	$1,850	$1.65	23d	1	1.27mi
244 E Park Ave Unit 204 Lake Wales, FL	2.0	1.0	847	$1,800	$2.13	23d	1	1.27mi
104 W Stuart Ave Lake Wales, FL	2.0	1.0	720	$1,100	$1.53	3d	1	1.27mi

Listing history 6 events

1. 2026-06-15
   status $115,000 Pending 7 DOM
2. 2026-06-15
   days on market $115,000 Active 7 DOM
3. 2026-06-13
   days on market $115,000 Active 5 DOM
4. 2026-06-10
   days on market $115,000 Active 2 DOM
5. 2026-06-08
   remarks 692-char remark
6. 2026-06-08
   listed $115,000 Active 1 DOM

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,463 · $122/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,557
• − Mortgage interest: −$6,442
• − Property taxes: −$1,463
• − Insurance: −$575
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,345
• Taxable income: $403
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $2,129/yr

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

Schools (NCES district)

• District: Polk
• NCES district ID: 1201590
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $43,979
• Composite: 34.74/100
• National rank: #5132
• State rank: #62 of 73 in FL

Livability — Lake Wales

• Score: 68/100
• State rank: #535
• US rank: #10036

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment D+ Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 30,351
• Population (ZIP): 12,385

Population outlook (Polk County) Hauer SSP2

• Today (2025): 752,975 people
• By 2030: 804,621 · +6.9%
• By 2040: 906,117 · +20.3%
• By 2050: 1,000,476 · +32.9%
• By 2075: 1,197,520 · +59.0%
• By 2100: 1,271,518 · +68.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 19% Two or more races 16%
• Hispanic origin (detail): Mexican 10% Puerto Rican 18% Cuban 2% Dominican 1%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 72% English-only · Spanish 27%

Political lean MEDSL · Polk

• 2024 margin: Strong R (+20.7) · D 39.2% · R 59.9%
• 2008→2024 swing: -14.6pp toward R · 2008: -6.1pp · 2024: -20.7pp
• All cycles: 2024: R+20.7 2020: R+14.4 2016: R+14.1 2012: R+6.8 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.98%
• Current HPI: 333.8292
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

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

Price history

+150.0% since first listed

7 events — show timeline

• 2026-06-08 Listed $115,000 HAOR as distributed by MLS GRID
• 2026-05-21 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-05-04 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-15 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2016-01-26 Sold (Public Records) $46,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,463 · +15.7% YoY. Source: county tax records.