1623 Fan Palm Dr · Four Corners, FL 33897

$289,590

3 bd · 2.5 ba · 1,451 sqft · Land · 147 Days on market

Built 2025 2,178 sqft lot $220/mo HOA · 11% of rent ↓ 7% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Appreciation +4.7/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Rent growth +1.8/5.0
• DSCR +0.2/10.0

Listing remarks

One or more photo(s) has been virtually staged. Under Construction. This private, gated community offers the perfect location at an affordable price. Located directly off Highway 27 and I-192 with quick access to I-4 and I-429, your commute will be a breeze. Just 8 miles from Disney World and close to many area attractions, you'll never be far from all the action this area has to provide. Need to run errands or stock up on groceries? No problem! Major grocery stores, restaurants, and shops in Posner Park and Champions Gate are just minutes away. If you want to maintain an active lifestyle and enjoy the outdoors, there are also several parks, golf courses, and outdoor recreation options near

Key facts

• Spacious kitchen
• Several parks nearby
• Quick access to i4

Tags

• PRIVATE GATED COMMUNITY
• QUICK ACCESS TO I4
• CLOSE TO DISNEY WORLD
• SEVERAL PARKS NEARBY
• ENERGY EFFICIENT FEATURES
• SPACIOUS KITCHEN

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $290k.

Deal economics

• At list price, monthly cash flow is $-584 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (28.4% below list).
• Recommended offer: $205k (29.2% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 3.2% in Four Corners — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Citrus Ridge A Civics Academy (math 35% / reading 37%, grade F, #1,670 of 2,144 statewide, top 78%, 1,457 students, 48% FRL); Lake Alfred Polytech Academy (math 41% / reading 43%, grade D-, #340 of 571 statewide, top 61%, 645 students, 59% FRL); Davenport High School (2,333 students, 37% FRL).
• 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 16d 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 35% 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 $238 of equity ($2k loan paydown + $-2k 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 147 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.

Recommended offer $205,028 (29.2% 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. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 3.87%
• Cash-on-cash: -8.65%
• DSCR: 0.62
• GRM: 11.6

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: -17.1%
• Equity multiple: 0.26×
• Total profit: $-59,787
• Equity at exit: $75,375

10-year hold

• IRR: -13.1%
• Equity multiple: -0.16×
• Total profit: $-93,789
• Equity at exit: $83,915

Cash invested: $81,085 (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: 11.6×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$1,519
• Tax est. 1.5%: −$362 /mo · $4,344/yr
• Insurance: −$121
• HOA: −$220
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-584

Break-even live

Break-even rent $2,812

Max offer price $205,028

Occupancy floor —

Sensitivity live

Price	-10% $-384	-5% $-484	+0% $-584	+5% $-684	+10% $-785
Rent	-10% $-748	-5% $-666	+0% $-584	+5% $-503	+10% $-421
Rate	-1.0pp $-439	-0.5pp $-511	base $-584	+0.5pp $-659	+1.0pp $-736

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: $72,398
• Closing costs: $8,688
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1623 Fan Palm Dr Davenport, FL	3.0	2.5	1451	$1,950	$1.34	4d	1	0.01mi
2918 Fan Palm Dr Unit Main Davenport, FL	3.0	2.0	1400	$1,800	$1.29	25d	1	0.20mi
2929 Fan Palm Dr Unit 1 Davenport, FL	3.0	2.5	1090	$1,600	$1.47	16d	1	0.23mi
2929 Fan Palm Dr Davenport, FL	3.0	3.0	1090	$1,600	$1.47	16d	1	0.23mi
217 Australian Way Unit A Davenport, FL	3.0	2.0	1211	$1,750	$1.45	4d	1	0.24mi
400 Australian Way Unit A Davenport, FL	3.0	2.0	1350	$1,600	$1.19	16d	1	0.27mi
623 Coconut Palm Way Davenport, FL	3.0	2.0	1100	$1,650	$1.50	25d	1	0.28mi
511 Coconut Palm Way Davenport, FL	3.0	2.0	1811	$1,700	$0.94	16d	1	0.29mi
722 Washington Palm Loop Davenport, FL	3.0	2.5	1811	$1,550	$0.86	25d	1	0.40mi
631 Washington Palm Loop Davenport, FL	3.0	2.0	1387	$1,450	$1.05	25d	1	0.40mi
406 Washington Palm Loop Davenport, FL	3.0	2.0	1764	$1,525	$0.86	16d	1	0.46mi
218 Langford Park Dr Davenport, FL	3.0	2.0	1479	$2,100	$1.42	25d	1	0.64mi
130 Orlando Breeze Cir Davenport, FL	1.0–3.0	1.0–2.0	1022	$2,506	$2.45	16d	21	0.67mi
1000 Western Breeze CIR Unit 3-410 Davenport, FL	2.0	2.0	1185	$2,360	$1.99	4d	1	0.70mi
2010 Limetta DR Davenport, FL	1.0–3.0	1.0–2.0	1178	$2,429	$2.06	4d	15	0.74mi
1000 Western Breeze Cir Davenport, FL	1.0–3.0	1.0–2.0	1350	$3,400	$2.52	16d	83	0.77mi
605 Blake Ave Davenport, FL	4.0	2.0	1855	$2,200	$1.19	25d	1	0.86mi
315 Allison Ave Davenport, FL	3.0	2.0	1180	$2,400	$2.03	25d	1	0.87mi
183 Jocelyn Dr Davenport, FL	4.0	2.0	1874	$2,400	$1.28	20d	1	0.93mi
309 Catfish Dr E Davenport, FL	3.0	2.0	1454	$1,895	$1.30	25d	1	0.99mi
237 Somerset Dr Davenport, FL	2.0	1.0	1330	$1,900	$1.43	25d	1	1.08mi
629 Allison Ave Davenport, FL	3.0	2.0	1524	$2,500	$1.64	25d	1	1.08mi
136 Grantham Dr Davenport, FL	3.0	2.0	1799	$1,995	$1.11	4d	1	1.09mi
1000 Ketner St Davenport, FL	1.0–3.0	1.0–2.0	1057	$2,024	$1.91	4d	22	1.11mi
1009 Lake Davenport Blvd Davenport, FL	3.0	2.0	1630	$2,199	$1.35	15d	1	1.12mi
500 Highgate Park Blvd Davenport, FL	4.0	3.0	1830	$2,500	$1.37	25d	1	1.14mi
183 Ashbourne Way Davenport, FL	1.0–3.0	1.0–2.0	1039	$2,200	$2.12	4d	35	1.15mi
222 Bexley Dr Davenport, FL	2.0	2.5	1313	$2,000	$1.52	25d	1	1.18mi
1560 Chelsea Dr Davenport, FL	3.0	2.5	1528	$2,100	$1.37	25d	1	1.26mi
1187 Papaya Cir Davenport, FL	4.0	2.0	1699	$2,100	$1.24	4d	1	1.26mi
1136 Papaya Cir Davenport, FL	4.0	2.0	1627	$2,450	$1.51	4d	1	1.27mi
1136 Papaya Cir Unit 1136 Davenport, FL	4.0	2.0	1627	$2,450	$1.51	16d	1	1.27mi
206 Scaton Way Davenport, FL	2.0	2.5	1530	$1,750	$1.14	15d	1	1.28mi
1536 Mirabella Cir Unit 1536 Davenport, FL	3.0	2.5	1567	$2,100	$1.34	25d	1	1.30mi
1556 Mirabella Cir Davenport, FL	3.0	2.5	1371	$1,950	$1.42	4d	1	1.30mi
1027 Papaya Cir Davenport, FL	4.0	2.0	1627	$2,500	$1.54	25d	1	1.30mi
1513 Mirabella Cir Davenport, FL	3.0	2.5	1594	$1,950	$1.22	25d	1	1.32mi
774 Chelsea Dr Davenport, FL	2.0	2.5	988	$1,750	$1.77	25d	1	1.32mi
1052 Papaya Cir Davenport, FL	4.0	2.0	1637	$2,450	$1.50	25d	1	1.33mi
130 Town Center Blvd Clermont, FL	1.0–3.0	1.0–2.0	904	$2,230	$2.47	0d	20	1.33mi

HOA detail

• Monthly dues: $220 · $2,640/yr
• Likely covers: security

Listing history 7 events

1. 2026-04-07
   status Pending
2. 2026-03-25
   price $289,590
3. 2026-03-04
   price $294,590
4. 2026-02-12
   price $309,590
5. 2026-01-17
   price $304,590
6. 2026-01-06
   price $307,590
7. 2025-11-11
   listed $309,990 Active

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

Taxation est. · year 1

• Rental income: $24,864
• − Mortgage interest: −$16,222
• − Property taxes: −$4,344
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − HOA: −$2,640
• − Depreciation: −$8,424
• Taxable loss: −$12,192
• Est. tax savings @ 24.0%: +$2,926
• After-tax cash flow: $-4,087/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

-6.6% since first listed

7 events — show timeline

• 2026-04-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $289,590 Stellar MLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $294,590 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $309,590 Stellar MLS as Distributed by MLS Grid
• 2026-01-17 Price Changed $304,590 Stellar MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $307,590 Stellar MLS as Distributed by MLS Grid
• 2025-11-11 Listed $309,990 Stellar MLS as Distributed by MLS Grid