37 Chelette Mnr · Lake Wales, FL 33898

$60,000

2 bd · 2.0 ba · 1,056 sqft · SingleFamily · 193 Days on market

Built 1989

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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 +30.0/30.0
• 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

Manufactured double wide home in a park (No age restrictions) Lot rent monthly $478 Central AC and heating Breakfast bar with separate dinning room and lots of cabinets Washer and dryer hookup in hall bathroom Walk in closets in both bedrooms Master bath has a walk in shower Large fenced in back yard AC replaced in 2018, Roof in 2015 * Must pass background check to live in the park * Selling condition as is (not furnished)

Key facts

• Lots of cabinets
• Separate dining room
• Walk in closets

Tags

• BREAKFAST BAR
• SEPARATE DINING ROOM
• LOTS OF CABINETS
• WASHER AND DRYER HOOKUP
• WALK IN CLOSETS
• MASTER BATH WALK IN SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% 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: 500 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($53k) 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 $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.56% ✓
• Cap rate: 22.24%
• Cash-on-cash: 56.94%
• DSCR: 3.53
• GRM: 3.3

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: 55.4%
• Equity multiple: 3.44×
• Total profit: $41,075
• Equity at exit: $8,946

10-year hold

• IRR: 60.4%
• Equity multiple: 7.03×
• Total profit: $101,242
• Equity at exit: $5,188

Cash invested: $16,800 (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 33898

• Home prices YoY: -15.1%
• Active inventory: 500
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $797

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 43%

Sensitivity live

Price	-10% $839	-5% $818	+0% $797	+5% $776	+10% $756
Rent	-10% $676	-5% $737	+0% $797	+5% $858	+10% $918
Rate	-1.0pp $827	-0.5pp $812	base $797	+0.5pp $782	+1.0pp $766

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2378 Sunset Pointe Dr Lake Wales, FL	3.0	2.0	1452	$1,695	$1.17	24d	1	0.14mi
1438 Thousand Roses Dr S Lake Wales, FL	2.0	2.0	962	$1,150	$1.20	24d	1	0.33mi
2525 Maple Ave Lake Wales, FL	3.0	1.0	1458	$1,650	$1.13	24d	1	0.43mi
2538 Elm Ave Unit 2540 Lake Wales, FL	2.0	1.0	812	$1,200	$1.48	24d	1	0.44mi
2540 Elm Ave Lake Wales, FL	2.0	1.0	812	$1,200	$1.48	24d	1	0.44mi
2549 Olive Ave Lake Wales, FL	3.0	2.0	1152	$1,800	$1.56	24d	1	0.53mi
2822 Pennachio Dr Lake Wales, FL	3.0	2.0	1484	$1,900	$1.28	24d	1	0.81mi
3031 Azalea Ave Lake Wales, FL	3.0	1.0	900	$1,400	$1.56	20d	1	1.05mi
920 Columbia Ave Lake Wales, FL	1.0	1.0	900	$900	$1.00	12d	1	1.19mi
1427 Chamberlain Loop Lake Wales, FL	3.0	2.0	1492	$1,775	$1.19	24d	1	1.30mi

Listing history 14 events

1. 2026-06-18
   days on market $60,000 Active 193 DOM
2. 2026-06-17
   days on market $60,000 Active 192 DOM
3. 2026-06-16
   days on market $60,000 Active 191 DOM
4. 2026-06-15
   days on market $60,000 Active 190 DOM
5. 2026-06-13
   days on market $60,000 Active 188 DOM
6. 2026-06-10
   days on market $60,000 Active 185 DOM
7. 2026-06-09
   days on market $60,000 Active 184 DOM
8. 2026-06-08
   days on market $60,000 Active 183 DOM
9. 2026-06-07
   days on market $60,000 Active 182 DOM
10. 2026-06-05
    days on market $60,000 Active 179 DOM
11. 2026-06-03
    days on market $60,000 Active 177 DOM
12. 2026-06-01
    days on market $60,000 Active 176 DOM
13. 2026-05-31
    days on market $60,000 Active 175 DOM
14. 2025-12-07
    listed $60,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,408
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$1,745
• Taxable income: $9,156
• Est. tax owed @ 24.0%: −$2,197
• After-tax cash flow: $7,369/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

• County: Polk County · 740,051 people
• City population: 30,351
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 18,527
• Household income: $57,224
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 148.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 17% Two or more races 10% Black 6%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4% Cuban 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -60.62%
• Current HPI: 340.6056
• Rent YoY: —
• 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

1 event — show timeline

• 2025-12-07 Listed $60,000 ForSaleByOwner.com