2216 Azalea Ct · Lakeland, FL 33815

$89,000

2 bd · 1.0 ba · 621 sqft · SingleFamily public records · 67 Days on market

Built 1943 Poor condition 0.35 ac lot $143/sqft · 39% below area Est $146k · 39% under

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Why this score? — see what drove the A 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.1/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Condition / age +1.0/5.0

Listing remarks

BEST BANG FOR YOUR INVESTOR BUCK!!!!! CALLING ALL BUILDERS AND INVESTORS!!!! This property is the perfect blank canvas in need of your personal touch. This property is a 2 bedroom 1 bath 705 total sq. ft single family home on . 35 ACRES with an open and simple floor plan in need of a FULL RENOVATIONS. Property is wood frame with wood subfloors, a shingle roof, window units, washer/dryer hookup, an indoor utility room, electric range appliance, fenced-in yard. Enjoy low taxes and NO HOA on an oversized DOUBLE LOT (7623 square. ft each lot) where you could build 2 NEW CONSTRUCTION HOMES (with mother-in-law suites behind each home), if youd prefer.

Key facts

• Full renovations
• Double lot
• Indoor utility room

Tags

• FULL RENOVATIONS
• FENCED-IN YARD
• DOUBLE LOT
• INDOOR UTILITY ROOM
• MINUTES TO BONNET SPRINGS PARK
• MINUTES TO DOWNTOWN LAKELAND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• 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: R. Bruce Wagner Elementary School (math 54% / reading 42%, grade D, #1,171 of 2,144 statewide, top 55%, 946 students, 46% 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 58% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 193 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.1% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $50k; list at $89k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 4→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.31% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.51%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $145,750
• List price: $89,000
• Delta: -38.94%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 W 5th St	1.92mi	2/1.0	608 (-2%)	2mo	$150,000	$247	60
714 W Belmar St	2.05mi	2/1.0	672 (+8%)	1mo	$206,000	$307	51
1058 N Davis Ave	1.02mi	1/1.0 (-1)	564 (-9%)	1mo	$51,500	$91	44
829 Nashville Rd	0.74mi	3/2.0 (+1)	672 (+8%)	1mo	$73,000	$109	42
1215 W Belmar St	1.60mi	2/1.0	776 (+25%)	1mo	$240,000	$309	39

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

Projected returns pro-forma

10.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 37.3%
• Equity multiple: 3.92×
• Total profit: $72,809
• Equity at exit: $80,178

10-year hold

• IRR: 33.3%
• Equity multiple: 9.31×
• Total profit: $207,062
• Equity at exit: $172,907

Cash invested: $24,920 (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 →

Active competition Active MLS

• For sale now: 4 active
• Median asking: $35,950 ($55/sqft)
• Median days on market: 13 d
• This list price: 75% of active listings are priced below it
• ARV vs active asking: +323.0% above current asking $/sqft

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

ZIP-level market 33815

• Home prices YoY: 12.6%
• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$467
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $322

Break-even live

Break-even rent $761

Max offer price $89,000

Occupancy floor 67%

Sensitivity live

Price	-10% $373	-5% $347	+0% $322	+5% $297	+10% $272
Rent	-10% $230	-5% $276	+0% $322	+5% $368	+10% $415
Rate	-1.0pp $367	-0.5pp $345	base $322	+0.5pp $299	+1.0pp $276

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: $22,250
• Closing costs: $2,670
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N Chestnut Rd Lakeland, FL	1.0	1.0	500	$1,100	$2.20	9d	1	0.22mi
214 N Chestnut Rd Lakeland, FL	1.0	1.0	500	$1,000	$2.00	119d	1	0.22mi
2245 New Tampa Hwy Lakeland, FL	1.0	1.0	518	$1,074	$2.07	9d	1	0.28mi
455 Arapahoe Ave Lakeland, FL	2.0	1.0	750	$1,199	$1.60	114d	1	0.64mi
457 Arapahoe Ave Lakeland, FL	2.0	1.0	750	$1,000	$1.33	9d	1	0.64mi
457 Kansas Ave Lakeland, FL	2.0	1.0	689	$1,200	$1.74	7d	1	0.79mi
1031 Neville Ave Lakeland, FL	2.0	2.0	728	$1,325	$1.82	73d	1	1.20mi
1033 Neville Ave Lakeland, FL	2.0	1.0	728	$1,295	$1.78	80d	1	1.20mi
808 S Central Ave Lakeland, FL	2.0	1.0	700	$1,050	$1.50	9d	1	1.32mi
2735 W 10th St Unit 7 Lakeland, FL	2.0	1.0	576	$925	$1.61	119d	1	1.33mi
1030 W Walnut St Unit 204 Lakeland, FL	1.0	1.0	617	$900	$1.46	9d	1	1.39mi

Property features AI

Finance

• Other: Zoned R-3
• Financial info: No lease restrictionsUnfurnished
• HOA & community: No association

Exterior

• Parking: No parking details provided
• Utilities: Public waterSeptic tank sewerPublic utilities
• Home design: Single-family residenceOne storyFaces west
• Construction: Frame construction with wood sidingShingle roofCrawlspace foundationBuilt area about 705 square feet
• Exterior features: Front porchRear screened porchPrivate mailboxChain link fenceCleared lotLocated inside city limitsAsphalt road access

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingDuctless heatingWall/window air conditioning unit(s)
• Interior features: Ceiling fan(s)BlindsOther
• Laundry & utility: Washer hookupElectric dryer hookupLaundry room

Listing history 35 events

1. 2026-07-07
   days on market $89,000 Active 67 DOM
2. 2026-07-06
   days on market $89,000 Active 66 DOM
3. 2026-07-05
   days on market $89,000 Active 65 DOM
4. 2026-07-03
   days on market $89,000 Active 63 DOM
5. 2026-07-02
   days on market $89,000 Active 62 DOM
6. 2026-07-01
   days on market $89,000 Active 61 DOM
7. 2026-06-30
   days on market $89,000 Active 60 DOM
8. 2026-06-29
   days on market $89,000 Active 59 DOM
9. 2026-06-28
   days on market $89,000 Active 58 DOM
10. 2026-06-28
    days on market $89,000 Active 57 DOM
11. 2026-06-27
    days on market $89,000 Active 56 DOM
12. 2026-06-25
    days on market $89,000 Active 54 DOM
13. 2026-06-23
    days on market $89,000 Active 52 DOM
14. 2026-06-22
    days on market $89,000 Active 51 DOM
15. 2026-06-18
    days on market $89,000 Active 48 DOM
16. 2026-06-17
    days on market $89,000 Active 47 DOM
17. 2026-06-16
    days on market $89,000 Active 46 DOM
18. 2026-06-15
    days on market $89,000 Active 45 DOM
19. 2026-06-13
    days on market $89,000 Active 43 DOM
20. 2026-06-10
    days on market $89,000 Active 40 DOM
21. 2026-06-09
    days on market $89,000 Active 39 DOM
22. 2026-06-08
    days on market $89,000 Active 38 DOM
23. 2026-06-07
    days on market $89,000 Active 37 DOM
24. 2026-06-05
    days on market $89,000 Active 34 DOM
25. 2026-06-03
    days on market $89,000 Active 33 DOM
26. 2026-06-03
    days on market $89,000 Active 32 DOM
27. 2026-06-01
    days on market $89,000 Active 31 DOM
28. 2026-05-31
    days on market $89,000 Active 30 DOM
29. 2026-05-01
    listed $89,000 Active
30. 2025-11-30
    historical
31. 2025-10-26
    price $99,000
32. 2025-10-20
    price $109,000
33. 2025-10-10
    price $119,000
34. 2025-10-02
    listed $129,000 Active
35. 2025-02-11
    soldstatus $50,000

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $1,167 · $97/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 4 d/yr ≥108°F today · 15 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,024
• − Mortgage interest: −$4,985
• − Property taxes: −$1,167
• − Insurance: −$445
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$2,589
• Taxable income: $2,594
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $3,244/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

Poor 20/100 Extensive rehab Est. rehab $31,050–$55,890 screening

This property requires extensive renovations, including re-roofing, re-siding, and foundation repair, to become move-in ready. Significant value can be added through interior updates and improvements to the exterior.

Components & finishes AI

Roof asphalt shingle

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — Significant damage to the roof structure is visible.
• Major Windows (windows) — Windows appear to be broken or missing, indicating severe damage.
• Major Electrical (electrical) — The interior is in a state of disrepair, suggesting significant electrical issues.
• Major Plumbing (plumbing) — The interior is in a state of disrepair, indicating potential plumbing issues.
• Major Exterior (exterior) — The exterior walls and roof appear to be in poor condition, with visible damage.

Repairs flagged

• Major Exposed subfloor in kitchen and bath — Structural damage and potential water intrusion
• Major Siding damage and peeling — Structural integrity compromised
• Major Foundation settling — Structural integrity compromised

Value-add opportunities

• Both Re-roofing and re-siding — Improves curb appeal and structural integrity ↑
• Both Foundation repair — Ensures structural stability and prevents future issues ↑
• Both Kitchen and bathroom renovations — Updates the interiors to modern standards, increasing both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Extensive 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 34/100

Zoned Schools

Elementary R. Bruce Wagner Elementary School D FL #1,171/2,144 Nat'l #14,249/41,679 Middle Kathleen Middle School F FL #486/571 Nat'l #9,545/14,009 High Kathleen Senior High School F FL #501/667 Nat'l #12,347/17,239

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

B Composite livability gradescore 77/100

Livability — Lakeland

• Score: 77/100
• State rank: #206
• US rank: #3179

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Polk County · 752,975 people
• City population: 277,690
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 13,975
• Household income: $37,487
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 43% Black 27% Hispanic / Latino 26% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 10%
• Common ancestry: Romanian 1% German 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 75% English-only · Spanish 23% German/W. Germanic 1%

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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: ▲ 47.45%
• Current HPI: 424.0956
• Rent YoY: ▲ 6.14%
• Metro: Lakeland-Winter Haven, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Zoned R-3
• Financial info: No lease restrictionsUnfurnished
• HOA & community: No association

Exterior

• Parking: No parking details provided
• Utilities: Public waterSeptic tank sewerPublic utilities
• Home design: Single-family residenceOne storyFaces west
• Construction: Frame construction with wood sidingShingle roofCrawlspace foundationBuilt area about 705 square feet
• Exterior features: Front porchRear screened porchPrivate mailboxChain link fenceCleared lotLocated inside city limitsAsphalt road access

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingDuctless heatingWall/window air conditioning unit(s)
• Interior features: Ceiling fan(s)BlindsOther
• Laundry & utility: Washer hookupElectric dryer hookupLaundry room

Price history

+78.0% since first listed

7 events — show timeline

• 2026-05-01 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-26 Price Changed $99,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-20 Price Changed $109,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-02 Listed $129,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-11 Sold (Public Records) $50,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $1,167 · +13.9% YoY. Source: county tax records.