3435 Swindell Rd

Lakeland, FL 33810

$239,000F

2 bd · 2.0 ba · 1,138 sqft · Built 1971 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,632/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$373
• HOA: −$0
• Vac / Maint / Mgmt: −$343
• Net cashflow: $-336/mo
• Annual: $-4,038/yr
• Cap rate: 4.60%
• Cash-on-cash: -6.03%
• DSCR: 0.73
• 1% rule: 0.68%
• Cash to close: $66,920

Investor read

• This is a 2-bed/2.0-bath single-family listed at $239k.
• At list price, monthly cash flow is $-336 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (31.7% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $163k (31.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#206 in FL, #3,179 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute 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: Socrum Elementary School (math 44% / reading 35%, grade F, #1,513 of 2,144 statewide, top 73%, 546 students, 65% FRL); Kathleen Middle School (math 28% / reading 28%, grade F, #486 of 571 statewide, top 86%, 821 students, 68% FRL); Kathleen Senior High School (math 19% / reading 31%, grade F, #501 of 667 statewide, top 75%, 2,051 students, 59% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising (+2.8%/yr); 511 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 14y 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.