422 W Broadway St · Fort Meade, FL 33841

$150,000

2 bd · 1.0 ba · 2,357 sqft · MultiFamily public records · 98 Days on market

Built 1949 6,377 sqft lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.4/30.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Here is your chance to purchase a spacious fixer upper that could be a primary home or income-producing opportunity. Located minutes from the heart of Fort Meade! This single-family home that requires extensive renovations has been converted into two separate living spaces. Both sides of the home feature a private entrance, functional living space, and separate living areas that provide privacy for tenants. The property sits on a corner lot with additional parking and outdoor space, adding to its appeal. Conveniently located near local shops, schools, and major roadways, this property offers small-town charm with easy access to surrounding areas. Whether you’re looking to renovate and

Key facts

• Additional parking
• Private entrance
• Corner lot

Tags

• TWO SEPARATE LIVING SPACES
• PRIVATE ENTRANCE
• FUNCTIONAL LIVING SPACE
• SEPARATE LIVING AREAS
• CORNER LOT
• ADDITIONAL PARKING

Property features AI

Finance

• Other: Zoned R-2
• HOA & community: No association; Street lights in community; Pets allowed: Cats and dogs

Exterior

• Parking: Covered carport; 2 carport spaces
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Cable available; Water source: None listed
• Home design: Single-family residence; Residential property; Fixer condition; One story; Faces north; Entry level: One
• Construction: Insulated concrete forms (ICFs) construction; Shingle roof; Crawlspace foundation; Built on a 0.15-acre lot (approx. 61 x 105)
• Exterior features: Covered patio/porch; Exterior storage; Corner lot; Oak trees; Paved public road access

Interior

• Bedrooms: 5 bedrooms
• Flooring: Linoleum
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Ductless heating; Wall/window cooling units
• Interior features: Ceiling fans; Exhaust fan
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (18.0% below list).
• Recommended offer: $123k (18.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#779 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Lewis Anna Woodbury Elementary School (math 33% / reading 38%, grade F, #1,684 of 2,144 statewide, top 79%, 525 students, 67% FRL); Fort Meade Middle/Senior High School (math 38% / reading 41%, grade F, #304 of 667 statewide, top 47%, 786 students, 68% FRL).
• Market conditions: 119 active listings in the ZIP; 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $52k; list at $150k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,948 (18.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.09%
• DSCR: 0.86
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.78×
• Total profit: $74,857
• Equity at exit: $135,132

10-year hold

• IRR: 19.9%
• Equity multiple: 6.38×
• Total profit: $225,941
• Equity at exit: $291,417

Cash invested: $42,000 (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 33841

• Home prices YoY: 7.7%
• Active inventory: 119
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$230 /mo · $2,763/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-108

Break-even live

Break-even rent $1,366

Max offer price $130,911

Occupancy floor —

Sensitivity live

Price	-10% $-23	-5% $-66	+0% $-108	+5% $-151	+10% $-193
Rent	-10% $-205	-5% $-157	+0% $-108	+5% $-59	+10% $-11
Rate	-1.0pp $-33	-0.5pp $-70	base $-108	+0.5pp $-147	+1.0pp $-186

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $150,000 Active 98 DOM
2. 2026-06-17
   days on market $150,000 Active 97 DOM
3. 2026-06-16
   days on market $150,000 Active 96 DOM
4. 2026-06-15
   days on market $150,000 Active 95 DOM
5. 2026-06-13
   days on market $150,000 Active 93 DOM
6. 2026-06-10
   days on market $150,000 Active 90 DOM
7. 2026-06-09
   days on market $150,000 Active 89 DOM
8. 2026-06-08
   days on market $150,000 Active 88 DOM
9. 2026-06-07
   days on market $150,000 Active 87 DOM
10. 2026-06-05
    days on market $150,000 Active 84 DOM
11. 2026-06-03
    days on market $150,000 Active 83 DOM
12. 2026-06-03
    days on market $150,000 Active 82 DOM
13. 2026-06-01
    days on market $150,000 Active 81 DOM
14. 2026-05-31
    days on market $150,000 Active 80 DOM
15. 2026-04-29
    price $150,000
16. 2026-03-12
    listed $170,000 Active
17. 2005-02-24
    soldstatus $52,000
18. 2003-03-12
    soldstatus $51,500

ⓘ 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: $2,763 · $230/mo
• Projected year-2 tax: $2,763 · $230/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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 26 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,754
• − Mortgage interest: −$8,402
• − Property taxes: −$2,763
• − Insurance: −$750
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$4,364
• Taxable loss: −$3,886
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $-364/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 — Fort Meade

• Score: 61/100
• State rank: #779
• US rank: #17625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Meade, FL
• Population (ZIP): 8,268

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 0.59)
• Race & ethnicity: White 50% Hispanic / Latino 38% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 32% Puerto Rican 3%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 70% English-only · Spanish 30%

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: ▲ 26.92%
• Current HPI: 376.8183
• 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

+191.3% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $150,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Listed $170,000 Stellar MLS as Distributed by MLS Grid
• 2005-02-24 Sold (Public Records) $52,000 Public Records
• 2003-03-12 Sold (Public Records) $51,500 Public Records

Property tax history

+10.4%/yr

Latest (2025): $2,763 · +26.0% YoY. Source: county tax records.