37 Chelette Mnr · Lake Wales, FL 33898

$60,000

2 bd · 2.0 ba · 1,056 sqft · SingleFamily · 290 Days on market

Built 1989 Fair condition $57/sqft · 66% below area

---

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
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$178,750) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $787 ($9k/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.
• Cap rate 22.0% vs local median 4.3% in Lake Wales — 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 68/100 on livability (#535 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing 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: Mclaughlin Academy of Excellence (math 34% / reading 32%, grade F, #437 of 571 statewide, top 77%, 542 students, 68% FRL); Bartow Senior High School (math 26% / reading 46%, grade F, #359 of 667 statewide, top 55%, 2,125 students, 44% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 620 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 290 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 290 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.54% ✓
• Cap rate: 22.04%
• Cash-on-cash: 56.22%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (median comp): $178,750
• List price: $60,000
• Delta: -66.43%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 E Johnson Ave #102	2.14mi	2/2.0	1,085 (+3%)	1mo	$75,000	$69	60
130 E Johnson Ave #205	2.14mi	2/2.0	1,085 (+3%)	1mo	$55,000	$51	60
130 E Johnson Ave #113	2.14mi	2/2.0	1,085 (+3%)	2mo	$50,000	$46	59
430 Oleander Rd	0.90mi	3/1.0 (+1)	1,072 (+2%)	0mo	$187,500	$175	53
2442 Lilly St	1.59mi	3/1.5 (+1)	1,027 (-3%)	0mo	$141,000	$137	53
509 Marietta St	0.94mi	3/2.0 (+1)	1,125 (+6%)	0mo	$235,000	$209	49
1943 Hunt Brothers Rd	1.87mi	2/2.0	924 (-12%)	2mo	$100,000	$108	43
219 E Polk Ave	2.01mi	3/2.0 (+1)	1,164 (+10%)	1mo	$120,000	$103	42
515 N 7th St	1.65mi	2/2.5	1,314 (+24%)	0mo	$198,000	$151	38
742 Hibiscus Ave	1.38mi	3/2.0 (+1)	1,352 (+28%)	1mo	$170,000	$126	34
425 Stokes Rd	2.05mi	4/2.0 (+2)	1,301 (+23%)	0mo	$281,000	$216	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 54.6%
• Equity multiple: 3.41×
• Total profit: $40,433
• Equity at exit: $8,946

10-year hold

• IRR: 59.7%
• Equity multiple: 6.94×
• Total profit: $99,855
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 4 under contract
• Months of supply: 39.0 mo (3%/mo absorbed)
• Median asking: $225,000 ($219/sqft)
• Median days on market: 137 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -22.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33898

• Home prices YoY: -15.1%
• Active inventory: 620
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,521 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $787

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 43%

Sensitivity live

Price	-10% $829	-5% $808	+0% $787	+5% $766	+10% $746
Rent	-10% $667	-5% $727	+0% $787	+5% $847	+10% $907
Rate	-1.0pp $817	-0.5pp $802	base $787	+0.5pp $772	+1.0pp $756

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 30 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	119d	1	0.14mi
49 Orange Park Blvd Lake Wales, FL	3.0	2.0	840	$1,400	$1.67	9d	1	0.14mi
1438 Thousand Roses Dr S Lake Wales, FL	2.0	2.0	962	$1,150	$1.20	119d	1	0.33mi
1425 Thousand Roses Dr S Lake Wales, FL	2.0	2.0	962	$1,099	$1.14	9d	1	0.34mi
2525 Maple Ave Lake Wales, FL	3.0	1.0	1458	$1,650	$1.13	119d	1	0.43mi
2538 Elm Ave Unit 2540 Lake Wales, FL	2.0	1.0	812	$1,200	$1.48	119d	1	0.44mi
2540 Elm Ave Lake Wales, FL	2.0	1.0	812	$1,200	$1.48	119d	1	0.44mi
2555 Elm Ave Unit 2559 Lake Wales, FL	2.0	1.0	800	$1,250	$1.56	0d	1	0.48mi
2559 Elm Ave Lake Wales, FL	2.0	1.0	800	$1,250	$1.56	0d	1	0.49mi
2567 Elm Ave Lake Wales, FL	2.0	1.0	944	$1,200	$1.27	0d	1	0.49mi
2563 Elm Ave Unit 2567 Lake Wales, FL	2.0	1.0	944	$1,200	$1.27	0d	1	0.49mi
1208 Carlton Ave Lake Wales, FL	3.0	2.0	1374	$1,700	$1.24	80d	1	0.51mi
2549 Olive Ave Lake Wales, FL	3.0	2.0	1152	$1,800	$1.56	119d	1	0.53mi
2514 McKinley Dr Lake Wales, FL	3.0	2.0	1487	$2,000	$1.34	9d	1	0.62mi
1106 S Lakeshore Blvd Lake Wales, FL	3.0	2.0	1439	$1,906	$1.32	9d	1	0.62mi
2870 Pennachio Dr Lake Wales, FL	3.0	2.0	1487	$1,749	$1.18	5d	1	0.67mi
2822 Pennachio Dr Lake Wales, FL	3.0	2.0	1484	$1,830	$1.23	65d	1	0.81mi
2366 McKinley Dr Lake Wales, FL	3.0	2.0	1487	$1,700	$1.14	80d	1	0.88mi
1006 Roberta Rd Lake Wales, FL	3.0	2.0	1478	$1,800	$1.22	7d	1	0.97mi
3031 Azalea Ave Lake Wales, FL	3.0	1.0	900	$1,400	$1.56	114d	1	1.05mi
801 Cambridge Way Lake Wales, FL	3.0	2.0	1272	$1,775	$1.40	73d	1	1.15mi
916 Cohassett Ave Lake Wales, FL	2.0	1.0	1140	$1,500	$1.32	9d	1	1.16mi
136 Myrtle Rd Unit A Lake Wales, FL	2.0	1.0	900	$1,620	$1.80	0d	1	1.17mi
920 Columbia Ave Lake Wales, FL	1.0	1.0	900	$900	$1.00	107d	1	1.19mi
1424 Covington Ct Lake Wales, FL	3.0	2.0	1272	$1,675	$1.32	63d	1	1.23mi
1427 Chamberlain Loop Lake Wales, FL	3.0	2.0	1492	$1,775	$1.19	119d	1	1.30mi
1427 Chamberlain Loop Lake Wales, FL	3.0	2.0	1492	$1,850	$1.24	9d	1	1.30mi
12206 Carillon Pl Lake Wales, FL	2.0	2.0	860	$1,360	$1.58	9d	1	1.31mi
1101 Carillon Pl Lake Wales, FL	3.0	2.0	1035	$1,450	$1.40	87d	1	1.35mi
4101 Carillon Pl Lake Wales, FL	3.0	2.0	1035	$1,520	$1.47	5d	1	1.39mi

Listing history 50 events

1. 2026-09-23
   days on market $60,000 Active 290 DOM
2. 2026-09-22
   days on market $60,000 Active 289 DOM
3. 2026-09-20
   days on market $60,000 Active 287 DOM
4. 2026-09-19
   days on market $60,000 Active 286 DOM
5. 2026-09-18
   days on market $60,000 Active 285 DOM
6. 2026-09-17
   days on market $60,000 Active 284 DOM
7. 2026-09-16
   days on market $60,000 Active 283 DOM
8. 2026-09-15
   days on market $60,000 Active 282 DOM
9. 2026-09-14
   days on market $60,000 Active 281 DOM
10. 2026-09-13
    days on market $60,000 Active 280 DOM
11. 2026-09-12
    days on market $60,000 Active 279 DOM
12. 2026-09-11
    days on market $60,000 Active 278 DOM
13. 2026-09-05
    days on market $60,000 Active 272 DOM
14. 2026-09-04
    days on market $60,000 Active 271 DOM
15. 2026-09-03
    days on market $60,000 Active 270 DOM
16. 2026-08-31
    days on market $60,000 Active 267 DOM
17. 2026-08-30
    days on market $60,000 Active 266 DOM
18. 2026-08-29
    days on market $60,000 Active 265 DOM
19. 2026-08-28
    days on market $60,000 Active 264 DOM
20. 2026-08-27
    days on market $60,000 Active 263 DOM
21. 2026-08-26
    days on market $60,000 Active 262 DOM
22. 2026-08-25
    days on market $60,000 Active 261 DOM
23. 2026-08-24
    days on market $60,000 Active 260 DOM
24. 2026-08-23
    days on market $60,000 Active 259 DOM
25. 2026-08-22
    days on market $60,000 Active 258 DOM
26. 2026-08-21
    days on market $60,000 Active 257 DOM
27. 2026-08-20
    days on market $60,000 Active 256 DOM
28. 2026-08-19
    days on market $60,000 Active 255 DOM
29. 2026-08-18
    days on market $60,000 Active 254 DOM
30. 2026-08-17
    days on market $60,000 Active 253 DOM
31. 2026-08-16
    days on market $60,000 Active 252 DOM
32. 2026-08-15
    days on market $60,000 Active 251 DOM
33. 2026-08-14
    days on market $60,000 Active 250 DOM
34. 2026-08-12
    days on market $60,000 Active 248 DOM
35. 2026-08-11
    days on market $60,000 Active 247 DOM
36. 2026-08-10
    days on market $60,000 Active 246 DOM
37. 2026-08-09
    days on market $60,000 Active 245 DOM
38. 2026-08-08
    days on market $60,000 Active 244 DOM
39. 2026-08-07
    days on market $60,000 Active 243 DOM
40. 2026-08-06
    days on market $60,000 Active 242 DOM
41. 2026-08-05
    days on market $60,000 Active 241 DOM
42. 2026-08-04
    days on market $60,000 Active 240 DOM
43. 2026-08-03
    days on market $60,000 Active 239 DOM
44. 2026-07-31
    days on market $60,000 Active 236 DOM
45. 2026-07-30
    days on market $60,000 Active 235 DOM
46. 2026-07-30
    days on market $60,000 Active 234 DOM
47. 2026-07-28
    days on market $60,000 Active 233 DOM
48. 2026-07-26
    days on market $60,000 Active 231 DOM
49. 2026-07-24
    days on market $60,000 Active 229 DOM
50. 2026-07-23
    days on market $60,000 Active 228 DOM

ⓘ 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: $18,255
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$1,745
• Taxable income: $9,028
• Est. tax owed @ 24.0%: −$2,167
• After-tax cash flow: $7,279/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $26,400–$47,520 screening

The home requires moderate repairs and maintenance, including painting, landscaping, and kitchen/bathroom updates. These improvements can significantly increase its resale and rental value.

Repairs flagged

• Minor Kitchen countertops — Worn and dated appearance.
• Minor Kitchen cabinets — Worn and dated appearance.
• Minor Bathroom fixtures — Signs of wear and tear.
• Moderate Exterior siding — Some wear and tear visible.
• Minor Landscaping — Sparse and in need of maintenance.
• Minor Paint — Faded and uneven in some areas.

Value-add opportunities

• Both Painting and repainting — Fresh paint can improve curb appeal and interior aesthetics. ↑
• Both Landscaping — A well-maintained yard can enhance curb appeal and property value. ↑
• Both Kitchen and bathroom updates — Fresh countertops and fixtures can improve functionality and aesthetics, attracting more buyers/renters. ↑
• Both Exterior siding repair — Repairing the siding can improve the home's appearance and increase its value. ↑
• Both HVAC maintenance — Regular maintenance can ensure the HVAC system is running efficiently and can improve the home's value. ↑
• Both Landscaping — A well-maintained yard can enhance curb appeal and property value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Spook Hill Elementary School F FL #1,862/2,144 Nat'l #26,279/41,679 Middle Mclaughlin Academy Of Excellence F FL #437/571 Nat'l #8,059/14,009 High Bartow Senior High School F FL #359/667 Nat'l #9,405/17,239

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

C Composite livability gradescore 68/100

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 · 752,975 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: 16% of renters

---

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