645 Dreama Dr · Four Corners, FL 33897

$229,000

3 bd · 2.0 ba · 1,984 sqft · Manufactured public records · 33 Days on market

Built 2003 3,881 sqft lot $264/mo HOA · 11% of rent

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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).

• Cash flow +15.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• DSCR +4.9/10.0
• Appreciation +4.7/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks

Under contract-accepting backup offers. Welcome to this well-maintained home located in the desirable community of Polo Park East! This property offers comfortable living with a functional layout, featuring 3 bedrooms, 2 bathrooms, a Florida room, and an additional den—perfect for a home office or guest space. Recent updates include a new HVAC system installed in 2023, providing peace of mind for years to come. The home features a mix of carpet, luxury vinyl, and tile flooring throughout. Enjoy the Florida lifestyle with access to Lake Davenport, where residents can take in beautiful water views and relax by the peaceful community memory pond. Polo Park East also offers a community po

Key facts

• Clubhouse
• Community pool
• Florida room

Tags

• FLORIDA ROOM
• NEW HVAC SYSTEM
• ACCESS TO LAKE DAVENPORT
• COMMUNITY POOL
• CLUBHOUSE
• GOLF CART INCLUDED

Property features AI

Finance

• Financial info: Partially furnished; Total monthly association fees listed as $264; Total annual association fees listed as $3,168
• HOA & community: Has HOA (monthly fee $264) — approval required; Association includes cable TV, pool, internet, and grounds maintenance; Community amenities: clubhouse, fitness center, pool, spa/hot tub, shuffleboard, recreation facilities, community mailbox; Senior community; Pets allowed (cats and dogs; size limits apply); Buyer approval required; deed restrictions; golf carts OK

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Cable available and connected; Electricity connected; Phone available; Sewer connected; Water connected; Underground utilities; Sprinkler meter
• Home design: Manufactured double-wide home; Single-story; East-facing
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation
• Exterior features: Storage; Boat access to Lake Davenport; Private boat ramp

Interior

• Kitchen: Convection oven; Dishwasher; Disposal; Exhaust fan; Microwave; Range; Range hood; Refrigerator; Electric water heater; Water softener
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (heat pump); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room / dining room combo; Solid surface countertops; Thermostat; Vaulted ceilings; Walk-in closets; Window treatments (blinds, drapes)
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry located inside/in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $229k).
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.2% in Four Corners — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#453 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: schools F, amenities F, health & safety 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: Rents soft (-2.7%/yr); 646 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• This rent runs 40% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $188 of equity ($2k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.61% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.80×
• Total profit: $-13,131
• Equity at exit: $59,605

10-year hold

• IRR: -1.0%
• Equity multiple: 0.91×
• Total profit: $-5,804
• Equity at exit: $66,357

Cash invested: $64,120 (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 33897

• Home prices YoY: -0.3%
• Rents YoY: -2.7%
• Active inventory: 646
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,348 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$188 /mo · $2,257/yr
• Insurance: −$95
• HOA: −$264
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $107

Break-even live

Break-even rent $2,213

Max offer price $229,000

Occupancy floor 90%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Western Breeze Cir Davenport, FL	1.0–3.0	1.0–2.0	1350	$3,400	$2.52	14d	83	0.28mi
1000 Ketner St Davenport, FL	1.0–3.0	1.0–2.0	1057	$2,024	$1.91	3d	22	0.31mi
629 Allison Ave Davenport, FL	3.0	2.0	1524	$2,500	$1.64	23d	1	0.47mi
130 Orlando Breeze Cir Davenport, FL	1.0–3.0	1.0–2.0	1022	$2,506	$2.45	14d	21	0.50mi
1009 Lake Davenport Blvd Davenport, FL	3.0	2.0	1630	$2,199	$1.35	14d	1	0.56mi
511 Coconut Palm Way Davenport, FL	3.0	2.0	1811	$1,700	$0.94	14d	1	0.72mi
406 Washington Palm Loop Davenport, FL	3.0	2.0	1764	$1,525	$0.86	14d	1	0.73mi
400 Australian Way Unit A Davenport, FL	3.0	2.0	1350	$1,600	$1.19	14d	1	0.74mi
145 Town Center Blvd Clermont, FL	1.0–3.0	1.0–3.0	1029	$2,290	$2.22	2d	22	0.75mi
631 Washington Palm Loop Davenport, FL	3.0	2.0	1387	$1,450	$1.05	23d	1	0.75mi
309 Catfish Dr E Davenport, FL	3.0	2.0	1454	$1,895	$1.30	23d	1	0.75mi
722 Washington Palm Loop Davenport, FL	3.0	2.5	1811	$1,550	$0.86	23d	1	0.78mi
103 Coconut Palm Way Davenport, FL	3.0	2.0	1881	$1,525	$0.81	3d	1	0.78mi
2918 Fan Palm Dr Unit Main Davenport, FL	3.0	2.0	1400	$1,800	$1.29	23d	1	0.84mi
16748 Lazy Breeze Loop Clermont, FL	4.0	2.5	2072	$3,450	$1.67	23d	1	0.88mi
9055 Treasure Trove Ln Kissimmee, FL	2.0–3.0	2.0	1572	$1,900	$1.21	3d	2	0.88mi
9055 Treasure Trove Ln Kissimmee, FL	2.0–3.0	2.0	1572	$1,900	$1.21	4d	2	0.88mi
17345 Cagan Crossings Blvd Clermont, FL	3.0	2.0	1269	$2,195	$1.73	12d	1	0.92mi
218 Langford Park Dr Davenport, FL	3.0	2.0	1479	$2,100	$1.42	23d	1	0.95mi
2010 Limetta DR Davenport, FL	1.0–3.0	1.0–2.0	1178	$2,429	$2.06	3d	15	0.97mi
1623 Fan Palm Dr Davenport, FL	3.0	2.5	1451	$1,950	$1.34	3d	1	0.98mi
3050 Pirates Retreat Ct #208 Kissimmee, FL	2.0	2.0	1445	$1,600	$1.11	1d	1	0.98mi
3060 Pirates Retreat Ct Kissimmee, FL	2.0	2.0	1445	$1,875	$1.30	7d	2	1.00mi
603 New Providence Promenade #603 Davenport, FL	3.0	2.0	1227	$1,550	$1.26	23d	1	1.01mi
304 New Providence Promenade Unit 304 Davenport, FL	3.0	2.0	1227	$1,495	$1.22	23d	1	1.07mi
3250 Douglas Grand Dr Kissimmee, FL	1.0–4.0	1.0–2.0	1146	$2,247	$1.96	2d	15	1.09mi
8970 Candy Palm Rd Kissimmee, FL	4.0	3.0	1884	$2,850	$1.51	23d	1	1.15mi
8958 Cat Palm Rd Kissimmee, FL	4.0	3.0	1902	$2,500	$1.31	23d	1	1.16mi
8977 Bismarck Palm Rd Kissimmee, FL	4.0	3.0	1902	$2,480	$1.30	4d	1	1.16mi
625 Rochester Loop Davenport, FL	4.0	2.0	1895	$2,350	$1.24	23d	1	1.18mi
8961 Majesty Palm Rd Kissimmee, FL	4.0	3.0	1884	$2,600	$1.38	23d	1	1.19mi
2826 Roccella Ct Kissimmee, FL	4.0	2.0	1694	$2,785	$1.64	7d	1	1.19mi
17825 Avalon Grove Loop Winter Garden, FL	1.0–3.0	1.0–2.0	972	$2,546	$2.62	2d	120	1.19mi
8908 Legacy Ct #104 Kissimmee, FL	3.0	2.0	1249	$1,900	$1.52	7d	1	1.19mi
2818 Roccella Ct Kissimmee, FL	4.0	2.5	2140	$2,899	$1.35	10d	1	1.21mi
8947 Candy Palm Rd Kissimmee, FL	4.0	3.0	1902	$2,800	$1.47	23d	1	1.21mi
8955 Bismarck Palm Rd Kissimmee, FL	4.0	3.0	1902	$2,600	$1.37	23d	1	1.21mi
2935 Buccaneer Palm Rd Kissimmee, FL	4.0	3.0	1902	$2,650	$1.39	21d	1	1.21mi
8966 Sugar Palm Rd Kissimmee, FL	4.0	3.0	1912	$3,200	$1.67	23d	1	1.22mi
17135 Cagan Crossings Blvd Clermont, FL	4.0	3.0	1978	$2,650	$1.34	17d	1	1.23mi

HOA detail

• Monthly dues: $264 · $3,168/yr
• Likely covers: water

Listing history 2 events

1. 2026-05-13
   status Pending
2. 2026-04-10
   listed $229,000 Active

ⓘ 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: $2,257 · $188/mo
• Projected year-2 tax: $2,257 · $188/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 ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,178
• − Mortgage interest: −$12,828
• − Property taxes: −$2,257
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,254
• − Management: −$2,254
• − HOA: −$3,168
• − Depreciation: −$6,662
• Taxable loss: −$2,391
• Est. tax savings @ 24.0%: +$574
• After-tax cash flow: $1,853/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 — Four Corners

• Score: 69/100
• State rank: #453
• US rank: #8218

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Four Corners, FL
• County: Polk County · 740,051 people
• City population: 27,422
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 30,159
• Household income: $70,982
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 926.0

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 0.61)
• Race & ethnicity: White 45% Hispanic / Latino 43% Two or more races 12% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 21% Cuban 2% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 61% English-only · Spanish 34% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -0.61%
• Current HPI: 236.2905
• Rent YoY: ▼ -2.69%
• Metro: Lakeland-Winter Haven, FL
• 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

2 events — show timeline

• 2026-05-13 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Listed $229,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2025): $2,257 · +9.2% YoY. Source: county tax records.