635 Terra Lago St · Four Corners, FL 33897

$199,000

4 bd · 3.0 ba · 1,492 sqft · Townhouse public records · 2 Days on market

Built 2005 1,856 sqft lot $706/mo HOA · 31% 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 +7.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• 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
• DSCR +1.6/10.0

Listing remarks MLS

Beautiful 3/3, well furnished, clean and ready to earn rental income unit in Regal Palms. No need to spend upgrade money to bring cheaper units up to high standards for renters. Returning guests' rental income is maximized in Regal Palms by having a great location. Terra Lago is a preferred location for guests because it is close to all the amenities. Because of the large rear yard area, this unit has a "back home" element to the rear patio and yard. Regal Palms is a preferred community for vacation rentals because it has features they seek. The clubhouse centers the community, and has a pool, lazy river, full service spa, games arcade, Tiki bar, sundries shop, indoor sauna and exercise room, full service restaurant and bar. Guest Services is open 24 hour and located in the main clubhouse. From Regal Palms, visitors can access all the Orlando attractions off of I-4, and if desired have a short drive to East or West coast Florida resort beaches. There are three full baths for guest convenience. Decorator paint, flat screen TV's, upgraded furnishings, washer and dryer, and upgraded window treatments are just some of the additional benefits to owning this unit. Compare the value benefits of ready to rent before buying inferior quality units! Brand new air conditioning unit!

Key facts

• $706 HOA
• Community pool
• Built 2005

Property features AI

Finance

• Other: Furnished: Yes
• Financial info: Total monthly fees shown as $706; Total annual fees shown as $8,472; Lease restrictions apply
• HOA & community: Regal Palms HOA; Monthly association fee of $706; Association fees cover guard (24-hour), cable TV, pool, internet, structure and grounds maintenance, pest control, recreational facilities, security, and trash; Playground and pool in the community; Pets allowed; Association fee required

Exterior

• Parking: Parking pad
• Security: Gated community; 24-hour guard (included in association)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Townhouse; Two levels; North-facing; Completed condition; Located in a gated community; Entry on slab foundation
• Construction: Block and stucco construction; Shingle roof; Built on slab foundation
• Exterior features: Covered patio; Deck; Patio

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Heat pump; Central air
• Interior features: Ceiling fans; Living room/dining room combo; Blinds and drapes; Sliding doors
• Laundry & utility: Washer hookup; Dryer hookup (electric); Inside laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $-252 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (22.4% below list).
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $155k (22.4% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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: 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.
• Zoned schools: Dundee Elementary Academy (math 51% / reading 56%, grade C, #949 of 2,144 statewide, top 45%, 653 students, 47% FRL); Davenport High School (2,333 students, 37% FRL) — zoned schools average 42% FRL vs 60% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 54% at this address vs 41% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Polk average implies; a family-tenant draw the district grade alone would hide.
• 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 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

• In year one you build about $164 of equity ($1k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y 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.
• Current owner paid $112k; list at $199k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,505 (22.4% 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. 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: 1.16% ✓
• Cap rate: 4.77%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• GRM: 7.2

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: -14.1%
• Equity multiple: 0.39×
• Total profit: $-33,788
• Equity at exit: $51,796

10-year hold

• IRR: -11.4%
• Equity multiple: 0.02×
• Total profit: $-54,400
• Equity at exit: $57,664

Cash invested: $55,720 (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: 7.2×

Monthly cashflow live

• Estimated rent: $2,307 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$242 /mo · $2,904/yr
• Insurance: −$83
• HOA: −$706
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $-252

Break-even live

Break-even rent $2,626

Max offer price $154,505

Occupancy floor —

Sensitivity live

Price	-10% $-139	-5% $-196	+0% $-252	+5% $-308	+10% $-365
Rent	-10% $-434	-5% $-343	+0% $-252	+5% $-161	+10% $-70
Rate	-1.0pp $-152	-0.5pp $-201	base $-252	+0.5pp $-303	+1.0pp $-356

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
243 Palermo St Unit 1018215P Davenport, FL	3.0	3.0	1851	$2,200	$1.19	4d	1	0.05mi
333 Terra Lago St Unit 1031923P Davenport, FL	3.0	3.0	1453	$2,170	$1.49	3d	1	0.07mi
202 Napoli Dr Unit 1524601P Davenport, FL	4.0	3.5	1851	$3,260	$1.76	15d	1	0.08mi
1042 Calabria Ave Unit 1261192P Davenport, FL	4.0	3.0	1485	$5,169	$3.48	15d	1	0.09mi
557 Miramar Ave Unit 1095258P Davenport, FL	4.0	3.5	1851	$2,086	$1.13	12d	1	0.11mi
235 Mango Dr Unit A Davenport, FL	3.0	2.0	1575	$1,750	$1.11	24d	1	0.14mi
203 Coco Plum Dr Unit Main Unit Davenport, FL	3.0	2.0	1686	$1,850	$1.10	24d	1	0.16mi
161 Coco Plum Dr Davenport, FL	3.0	3.0	1364	$1,850	$1.36	24d	1	0.17mi
515 Orchid Dr Unit A Davenport, FL	3.0	2.0	1348	$1,650	$1.22	24d	1	0.18mi
142 Mango Dr Davenport, FL	3.0	2.0	1784	$1,799	$1.01	24d	1	0.18mi
904 Charo Pkwy #517 Davenport, FL	3.0	3.0	1217	$1,800	$1.48	24d	1	0.20mi
904 Charo Pkwy #533 Davenport, FL	4.0	3.0	1437	$1,795	$1.25	15d	1	0.20mi
3929 Calabria Ave Unit 1018213P Davenport, FL	4.0	3.0	1851	$2,101	$1.14	14d	1	0.22mi
402 Orchid Dr Unit Main Davenport, FL	3.0	2.0	1500	$1,900	$1.27	24d	1	0.22mi
251 Caribbean Dr Davenport, FL	3.0	2.0	1800	$1,575	$0.88	24d	1	0.23mi
761 Caribbean Dr Davenport, FL	3.0	2.0	1400	$1,700	$1.21	4d	1	0.23mi
271 Caribbean Dr Unit Main Unit Davenport, FL	3.0	2.0	1298	$1,750	$1.35	24d	1	0.24mi
711 Caribbean Dr Unit Main Unit Davenport, FL	3.0	2.0	1200	$1,850	$1.54	24d	1	0.25mi
1316 Mirabella Cir Davenport, FL	3.0	2.5	1489	$2,050	$1.38	24d	1	0.27mi
536 Caribbean Dr Unit A Davenport, FL	3.0	2.0	1420	$1,650	$1.16	24d	1	0.28mi
226 Orchid Dr Davenport, FL	3.0	2.0	1508	$1,749	$1.16	19d	1	0.30mi
1052 Papaya Cir Davenport, FL	4.0	2.0	1637	$2,450	$1.50	24d	1	0.31mi
1460 Mirabella Cir Davenport, FL	3.0	2.5	1505	$1,895	$1.26	15d	1	0.31mi
1027 Papaya Cir Davenport, FL	4.0	2.0	1627	$2,500	$1.54	24d	1	0.32mi
1483 Mirabella Cir Davenport, FL	3.0	2.5	1501	$1,850	$1.23	15d	1	0.32mi
1492 Mirabella Cir Davenport, FL	3.0	2.5	1435	$1,950	$1.36	15d	1	0.34mi
1492 Mirabella Cir Davenport, FL	3.0	2.0	1435	$1,995	$1.39	24d	1	0.34mi
1513 Mirabella Cir Davenport, FL	3.0	2.5	1594	$1,950	$1.22	24d	1	0.35mi
3306 Calabria Ave Unit 1261194P Davenport, FL	4.0	3.5	1754	$4,551	$2.59	4d	1	0.35mi
1556 Mirabella Cir Davenport, FL	3.0	2.5	1371	$1,950	$1.42	4d	1	0.37mi
1536 Mirabella Cir Unit 1536 Davenport, FL	3.0	2.5	1567	$2,100	$1.34	24d	1	0.38mi
1187 Papaya Cir Davenport, FL	4.0	2.0	1699	$2,100	$1.24	4d	1	0.38mi
1136 Papaya Cir Unit 1136 Davenport, FL	4.0	2.0	1627	$2,450	$1.51	15d	1	0.42mi
1136 Papaya Cir Davenport, FL	4.0	2.0	1627	$2,450	$1.51	4d	1	0.42mi
1560 Chelsea Dr Davenport, FL	3.0	2.5	1528	$2,100	$1.37	24d	1	0.47mi
500 Highgate Park Blvd Davenport, FL	4.0	3.0	1830	$2,500	$1.37	24d	1	0.48mi
136 Grantham Dr Davenport, FL	3.0	2.0	1799	$1,995	$1.11	4d	1	0.53mi
464 Gleneagles Dr Davenport, FL	4.0	2.0	1700	$2,900	$1.71	24d	1	0.63mi
183 Ashbourne Way Davenport, FL	1.0–3.0	1.0–2.0	1039	$2,200	$2.12	4d	35	0.63mi
183 Jocelyn Dr Davenport, FL	4.0	2.0	1874	$2,400	$1.28	19d	1	0.72mi

HOA detail

• Monthly dues: $706 · $8,472/yr
• Likely covers: pool

Listing history 4 events

1. 2026-06-13
   status $199,000 Pending 2 DOM
2. 2026-06-10
   days on market $199,000 Active 2 DOM
3. 2026-06-08
   remarks 671-char remark
4. 2026-06-08
   listed $199,000 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: $2,904 · $242/mo
• Projected year-2 tax: $2,904 · $242/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 25 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: $27,685
• − Mortgage interest: −$11,147
• − Property taxes: −$2,904
• − Insurance: −$995
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − HOA: −$8,472
• − Depreciation: −$5,789
• Taxable loss: −$6,052
• Est. tax savings @ 24.0%: +$1,452
• After-tax cash flow: $-1,570/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

• 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

+44.5% since first listed

11 events — show timeline

• 2026-06-08 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2018-03-19 Sold (Public Records) $111,500 Public Records
• 2018-03-01 Sold (MLS) $111,400 Stellar MLS as Distributed by MLS Grid
• 2017-11-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-07-27 Listed $114,000 Stellar MLS as Distributed by MLS Grid
• 2017-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-07-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-06-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-04-29 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2009-11-30 Listed $67,000 Stellar MLS as Distributed by MLS Grid
• 2005-09-28 Sold (Public Records) $137,700 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,904 · +2.6% YoY. Source: county tax records.