130 E Johnson Ave #102 · Lake Wales, FL 33853

$84,900

2 bd · 2.0 ba · 1,085 sqft · Condo public records · 36 Days on market

Built 1977 $413/mo HOA · 27% of rent

---

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

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

• Cash flow +28.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Back in the Market- Buyer unable to complete the transaction- Looking for a 55+ Small Community in Florida to enjoy the weather and the fact of being close to downtown Lake Wales, an ideal place to retire and relax in the pool offered at this community, with a short walk to parks and fishing piers, if you like this outdoor activity or just enjoy the small-town escape that you’ve been searching for, overshadowed by nearby Lakeland and Orlando, Lake Wales is a charming historic district lined with cute cafes, bakeries, eclectic thrift shops, and boutique galleries, it’s a perfect place for a getaway. Beyond the downtown streets, this property is close to Lake Kissimmee State Park for outdoor adventures on land and water, not to mention the incomparable Bok Tower Gardens. , or if you just want to find a great place where to live come and enjoy this 2/2 apartment located at the first floor with newer tile floor all over, an updated sink in both bathrooms, and many more updates will make your life enjoyable. HOA requires Approval with background/credit verification with a non-refundable application fee of $150/ applicant. HOA fee includes water, sewer, pool, recreation /exercise room, and clubhouse. Sounds like a place where you would like to live, come and see it.

Key facts

• Extra storage space
• Additional closet
• Ground floor condo

Tags

• GROUND FLOOR CONDO
• TILED AND VINYL FLOORS
• CONVENIENT LOCATION
• ADDITIONAL CLOSET
• LAUNDRY FACILITY
• EXTRA STORAGE SPACE

Property features AI

Finance

• Other: Partially furnished; Condo land included; Community features include street lights
• Financial info: Lease restrictions apply
• HOA & community: Association name: GENE WALTON; Monthly condo fee $413 (monthly); Association amenities include pool, fitness center, laundry, storage, maintenance, recreational facilities and community mailbox; Buyer/association approval required; Senior community; Total annual fees approximately $4,956

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Fire hydrant nearby; Sewer connected; Water connected
• Home design: Attached condominium; Residential condominium; Completed condition; Faces north; One-level unit (floor 1); 2-story building
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as part of a multi-unit building
• Exterior features: Rear screened porch; Exterior lighting; Sidewalks; Sliding doors; Mature landscaping; Landscaped and paved lot within city limits; Public maintained paved (asphalt) road

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Blinds, drapes and rods
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $587 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.78% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.98%
• DSCR: 1.62
• GRM: 4.7

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $4,109
• Equity at exit: $12,659

10-year hold

• IRR: 14.1%
• Equity multiple: 2.14×
• Total profit: $27,207
• Equity at exit: $7,341

Cash invested: $23,772 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,509 high
• Mortgage (P&I): −$445
• Tax from tax record: −$22 /mo · $259/yr
• Insurance: −$35
• HOA: −$413
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $277

Break-even live

Break-even rent $1,158

Max offer price $84,900

Occupancy floor 77%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 E Park Ave Unit 204 Lake Wales, FL	2.0	1.0	847	$1,800	$2.13	23d	1	0.26mi
244 E Park Ave Unit 201 Lake Wales, FL	2.0	2.5	1119	$1,850	$1.65	23d	1	0.26mi
104 W Stuart Ave Lake Wales, FL	2.0	1.0	720	$1,100	$1.53	3d	1	0.28mi
133 W Park Ave Unit B Lake Wales, FL	3.0	2.0	1151	$1,600	$1.39	23d	1	0.33mi
403 E Johnson Ave Lake Wales, FL	3.0	2.0	1196	$1,650	$1.38	23d	1	0.35mi
307 Steedly Ave Lake Wales, FL	3.0	1.0	1335	$1,895	$1.42	2d	1	0.36mi
444 E Tillman Ave Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	14d	1	0.44mi
444 E Tillman Ave Unit 5 Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	23d	1	0.44mi
610 Emerald Ave Unit 3 Lake Wales, FL	2.0	1.0	864	$1,299	$1.50	21d	1	0.80mi
620 Emerald Ave Unit 1 Lake Wales, FL	2.0	1.0	780	$1,000	$1.28	23d	1	0.82mi
100 E St Lake Wales, FL	2.0	1.5	860	$1,200	$1.40	23d	1	0.85mi
711 Springer Dr #3 Lake Wales, FL	2.0	2.0	972	$1,400	$1.44	23d	1	0.95mi
711 Springer Dr Lake Wales, FL	1.0–2.0	1.0–2.0	848	$1,400	$1.65	3d	2	0.95mi
609 Washington Ave Lake Wales, FL	3.0	2.0	1392	$1,549	$1.11	14d	1	1.10mi
920 Columbia Ave Lake Wales, FL	1.0	1.0	900	$900	$1.00	11d	1	1.16mi
766 Hunt Dr Lake Wales, FL	3.0	2.0	1214	$2,300	$1.89	23d	1	1.17mi
425 F St Unit 2 Lake Wales, FL	3.0	2.0	977	$1,195	$1.22	14d	1	1.30mi
114 E Northside Dr #3 Lake Wales, FL	2.0	1.0	900	$1,200	$1.33	23d	1	1.48mi
202 Owens Rd Lake Wales, FL	3.0	2.0	1133	$1,850	$1.63	23d	1	1.50mi

HOA detail condo

• Monthly dues: $413 · $4,956/yr
• Likely covers: watersewerpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $84,900 Active 36 DOM
2. 2026-06-17
   days on market $84,900 Active 35 DOM
3. 2026-06-16
   days on market $84,900 Active 34 DOM
4. 2026-06-15
   days on market $84,900 Active 33 DOM
5. 2026-06-13
   days on market $84,900 Active 31 DOM
6. 2026-06-10
   days on market $84,900 Active 28 DOM
7. 2026-06-09
   days on market $84,900 Active 27 DOM
8. 2026-06-08
   days on market $84,900 Active 26 DOM
9. 2026-06-07
   days on market $84,900 Active 25 DOM
10. 2026-06-05
    days on market $84,900 Active 22 DOM
11. 2026-06-03
    days on market $84,900 Active 21 DOM
12. 2026-06-03
    days on market $84,900 Active 20 DOM
13. 2026-06-01
    days on market $84,900 Active 19 DOM
14. 2026-05-31
    days on market $84,900 Active 18 DOM
15. 2026-05-13
    listed $84,900 Active
16. 2026-05-07
    historical
17. 2025-12-01
    status Active
18. 2025-11-30
    historical
19. 2025-04-30
    listed $84,500 Active
20. 2023-05-10
    soldstatus $110,000
21. 2023-05-05
    soldstatus $110,000 Closed 1292-char remark

    Show marketing remark (1292 chars)

    Back in the Market- Buyer unable to complete the transaction- Looking for a 55+ Small Community in Florida to enjoy the weather and the fact of being close to downtown Lake Wales, an ideal place to retire and relax in the pool offered at this community, with a short walk to parks and fishing piers, if you like this outdoor activity or just enjoy the small-town escape that you’ve been searching for, overshadowed by nearby Lakeland and Orlando, Lake Wales is a charming historic district lined with cute cafes, bakeries, eclectic thrift shops, and boutique galleries, it’s a perfect place for a getaway. Beyond the downtown streets, this property is close to Lake Kissimmee State Park for outdoor adventures on land and water, not to mention the incomparable Bok Tower Gardens. , or if you just want to find a great place where to live come and enjoy this 2/2 apartment located at the first floor with newer tile floor all over, an updated sink in both bathrooms, and many more updates will make your life enjoyable. HOA requires Approval with background/credit verification with a non-refundable application fee of $150/ applicant. HOA fee includes water, sewer, pool, recreation /exercise room, and clubhouse. Sounds like a place where you would like to live, come and see it.

22. 2023-03-25
    status Pending 1292-char remark

    Show marketing remark (1292 chars)

    Back in the Market- Buyer unable to complete the transaction- Looking for a 55+ Small Community in Florida to enjoy the weather and the fact of being close to downtown Lake Wales, an ideal place to retire and relax in the pool offered at this community, with a short walk to parks and fishing piers, if you like this outdoor activity or just enjoy the small-town escape that you’ve been searching for, overshadowed by nearby Lakeland and Orlando, Lake Wales is a charming historic district lined with cute cafes, bakeries, eclectic thrift shops, and boutique galleries, it’s a perfect place for a getaway. Beyond the downtown streets, this property is close to Lake Kissimmee State Park for outdoor adventures on land and water, not to mention the incomparable Bok Tower Gardens. , or if you just want to find a great place where to live come and enjoy this 2/2 apartment located at the first floor with newer tile floor all over, an updated sink in both bathrooms, and many more updates will make your life enjoyable. HOA requires Approval with background/credit verification with a non-refundable application fee of $150/ applicant. HOA fee includes water, sewer, pool, recreation /exercise room, and clubhouse. Sounds like a place where you would like to live, come and see it.

23. 2023-03-17
    status Active 1292-char remark

    Show marketing remark (1292 chars)

    Back in the Market- Buyer unable to complete the transaction- Looking for a 55+ Small Community in Florida to enjoy the weather and the fact of being close to downtown Lake Wales, an ideal place to retire and relax in the pool offered at this community, with a short walk to parks and fishing piers, if you like this outdoor activity or just enjoy the small-town escape that you’ve been searching for, overshadowed by nearby Lakeland and Orlando, Lake Wales is a charming historic district lined with cute cafes, bakeries, eclectic thrift shops, and boutique galleries, it’s a perfect place for a getaway. Beyond the downtown streets, this property is close to Lake Kissimmee State Park for outdoor adventures on land and water, not to mention the incomparable Bok Tower Gardens. , or if you just want to find a great place where to live come and enjoy this 2/2 apartment located at the first floor with newer tile floor all over, an updated sink in both bathrooms, and many more updates will make your life enjoyable. HOA requires Approval with background/credit verification with a non-refundable application fee of $150/ applicant. HOA fee includes water, sewer, pool, recreation /exercise room, and clubhouse. Sounds like a place where you would like to live, come and see it.

24. 2023-03-04
    status Pending 1292-char remark

    Show marketing remark (1292 chars)

    Back in the Market- Buyer unable to complete the transaction- Looking for a 55+ Small Community in Florida to enjoy the weather and the fact of being close to downtown Lake Wales, an ideal place to retire and relax in the pool offered at this community, with a short walk to parks and fishing piers, if you like this outdoor activity or just enjoy the small-town escape that you’ve been searching for, overshadowed by nearby Lakeland and Orlando, Lake Wales is a charming historic district lined with cute cafes, bakeries, eclectic thrift shops, and boutique galleries, it’s a perfect place for a getaway. Beyond the downtown streets, this property is close to Lake Kissimmee State Park for outdoor adventures on land and water, not to mention the incomparable Bok Tower Gardens. , or if you just want to find a great place where to live come and enjoy this 2/2 apartment located at the first floor with newer tile floor all over, an updated sink in both bathrooms, and many more updates will make your life enjoyable. HOA requires Approval with background/credit verification with a non-refundable application fee of $150/ applicant. HOA fee includes water, sewer, pool, recreation /exercise room, and clubhouse. Sounds like a place where you would like to live, come and see it.

25. 2023-02-25
    listed $110,000 Active 1292-char remark

    Show marketing remark (1292 chars)

    Back in the Market- Buyer unable to complete the transaction- Looking for a 55+ Small Community in Florida to enjoy the weather and the fact of being close to downtown Lake Wales, an ideal place to retire and relax in the pool offered at this community, with a short walk to parks and fishing piers, if you like this outdoor activity or just enjoy the small-town escape that you’ve been searching for, overshadowed by nearby Lakeland and Orlando, Lake Wales is a charming historic district lined with cute cafes, bakeries, eclectic thrift shops, and boutique galleries, it’s a perfect place for a getaway. Beyond the downtown streets, this property is close to Lake Kissimmee State Park for outdoor adventures on land and water, not to mention the incomparable Bok Tower Gardens. , or if you just want to find a great place where to live come and enjoy this 2/2 apartment located at the first floor with newer tile floor all over, an updated sink in both bathrooms, and many more updates will make your life enjoyable. HOA requires Approval with background/credit verification with a non-refundable application fee of $150/ applicant. HOA fee includes water, sewer, pool, recreation /exercise room, and clubhouse. Sounds like a place where you would like to live, come and see it.

26. 2019-05-02
    soldstatus $49,000
27. 2019-04-30
    soldstatus $49,000 Sold
28. 2019-04-09
    status Pending
29. 2019-02-06
    listed $53,900 Active
30. 2016-10-11
    soldstatus $39,900
31. 1983-12-01
    soldstatus $50,000

ⓘ 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: $259 · $22/mo
• Projected year-2 tax: $705 · $59/mo
• Expected delta: +$446/yr (+$37/mo · 172.4%)

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

Taxation est. · year 1

• Rental income: $18,109
• − Mortgage interest: −$4,756
• − Property taxes: −$259
• − Insurance: −$424
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − HOA: −$4,956
• − Depreciation: −$2,470
• Taxable income: $2,346
• Est. tax owed @ 24.0%: −$563
• After-tax cash flow: $2,761/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

• Census place: Lake Wales, FL
• 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

+69.8% since first listed

17 events — show timeline

• 2026-05-13 Listed $84,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-30 Listed $84,500 Stellar MLS as Distributed by MLS Grid
• 2023-05-10 Sold (Public Records) $110,000 Public Records
• 2023-05-05 Sold (MLS) $110,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-03-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-03-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-02-25 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2019-05-02 Sold (Public Records) $49,000 Public Records
• 2019-04-30 Sold (MLS) $49,000 Stellar MLS as Distributed by MLS Grid
• 2019-04-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-02-06 Listed $53,900 Stellar MLS as Distributed by MLS Grid
• 2016-10-11 Sold (Public Records) $39,900 Public Records
• 1983-12-01 Sold (Public Records) $50,000 Public Records

Property tax history

-3.9%/yr

Latest (2025): $259 · +43.5% YoY. Source: county tax records.