1600 W Lake Parker Dr Unit B9 · Lakeland, FL 33805

$129,900

2 bd · 2.0 ba · 816 sqft · Condo public records · 93 Days on market

Built 1964 $393/mo HOA · 26% of rent ↓ 13% since listing

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Why this score? — see what drove the D 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 +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• DSCR +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Take a look at this amazing unobstructed LAKEFRONT view, 2 br 1 ba unit on the bottom floor END UNIT with a screened from patio. Perfect for warm sunny days to enjoy the Florida sunshine with your morning coffee. Brand new in 2026 newly updated bathroom! Tile throughout and ample closet space for storage. It’s located just minutes from all the major attractions and easy access to the beaches and I-4. Light and bright best describes this move-in ready condo. Lovely and very functional layout with a newer roof and AC both in 2021 - New electrical panel box which is a huge upgrade. The community offers a clubhouse, heated pool, shuffleboard, private boat dock, and newer crosswalks to the

Key facts

• $393 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Furnished: negotiable; Home warranty: none; Third party listing: yes
• Financial info: Total annual fees: $4,716; Association fee required
• HOA & community: Monthly HOA fee of $393 (includes cable TV, pool, structure and grounds maintenance, pest control, trash); Association amenities: clubhouse, laundry, pool, community mailbox, sidewalks; Buyer approval required; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Broadband/high-speed internet available; Electricity available
• Home design: Condominium; Residential property; One level (stories total: 2); Faces west; Unit on first floor
• Construction: Stucco construction; Shingle roof; Slab foundation; Building B
• Exterior features: Enclosed patio; Patio; Lakefront with lake view; Fishing pier; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (first floor)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Solid surface counters; Lighting
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-46 ($-558/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (6.3% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% 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: Lincoln Avenue Academy (math 76% / reading 85%, grade A+, #104 of 2,144 statewide, top 5%, 526 students, 24% FRL) — zoned schools average 24% FRL vs 60% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 80% at this address vs 41% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Polk average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 162 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,209 (9.0% 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 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 5.86%
• Cash-on-cash: -1.53%
• DSCR: 0.93
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.77% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.25×
• Total profit: $-27,100
• Equity at exit: $19,369

10-year hold

• IRR: -26.1%
• Equity multiple: -0.09×
• Total profit: $-39,507
• Equity at exit: $11,231

Cash invested: $36,372 (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 33805

• Home prices YoY: -29.8%
• Rents YoY: 0.8%
• Active inventory: 162
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$681
• Tax from tax record: −$115 /mo · $1,386/yr
• Insurance: −$54
• HOA: −$393
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-46

Break-even live

Break-even rent $1,574

Max offer price $121,690

Occupancy floor 98%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
720 Lakehurst St Lakeland, FL	3.0	2.0	1092	$1,750	$1.60	23d	1	0.30mi
617 Lakehurst St Lakeland, FL	3.0	2.0	1100	$1,900	$1.73	19d	1	0.30mi
123 Oconee St Unit 1368863P Lakeland, FL	2.0	1.0	990	$2,441	$2.47	11d	1	0.66mi
929 Gilmore Ave Lakeland, FL	2.0	1.0–1.5	620	$1,280	$2.06	2d	20	0.75mi
1704 Martin L King Jr Ave Lakeland, FL	2.0	2.0	1050	$5,000	$4.76	23d	1	0.82mi
310 Plum St Unit 7 Lakeland, FL	2.0	1.0	850	$1,200	$1.41	23d	1	0.86mi
1031 N Florence Ave Unit NA Lakeland, FL	3.0	2.0	1100	$1,495	$1.36	14d	1	0.88mi
921 E Parker St Lakeland, FL	1.0	1.0	715	$1,150	$1.61	13d	1	0.90mi
408 Bassedena Cir N Lakeland, FL	3.0	2.0	1075	$1,825	$1.70	23d	1	0.91mi
620 N Lake Ave Unit 3 Lakeland, FL	2.0	1.0	760	$1,175	$1.55	14d	1	0.94mi
620 N Lake Ave Unit 2 Lakeland, FL	2.0	1.0	760	$1,100	$1.45	3d	1	0.94mi
609 N Stella Ave Apt A Lakeland, FL	2.0	1.0	735	$1,100	$1.50	23d	1	0.97mi
321 Emma St Lakeland, FL	2.0	1.0	730	$1,395	$1.91	23d	1	1.01mi
711 N Virginia Ave Lakeland, FL	2.0	1.0	780	$1,100	$1.41	23d	1	1.02mi
131 Pear St Lakeland, FL	2.0	1.0	741	$950	$1.28	23d	1	1.04mi
820 W 13th St Lakeland, FL	2.0	1.0	950	$1,300	$1.37	23d	1	1.06mi
1216 E Myrtle St Lakeland, FL	3.0	1.0	864	$1,450	$1.68	23d	1	1.06mi
454 King Edward Ave Lakeland, FL	2.0	2.0	1048	$1,399	$1.33	2d	1	1.13mi
600 E Bay St Lakeland, FL	3.0	1.0–2.0	914	$2,166	$2.37	3d	29	1.19mi
270 E Bay St Lakeland, FL	2.0	1.0–2.0	892	$1,725	$1.93	3d	6	1.24mi
125 N Kentucky Ave #307 Lakeland, FL	1.0	1.5	911	$3,550	$3.90	23d	1	1.36mi
3215 Baird Ave Lakeland, FL	1.0–2.0	1.0	794	$1,250	$1.57	13d	4	1.39mi
130 S Massachusetts Ave Lakeland, FL	1.0	1.0	580	$1,400	$2.41	3d	8	1.47mi
915 E Lemon St Lakeland, FL	2.0	1.5	962	$1,599	$1.66	23d	1	1.49mi
923 E Lemon St Lakeland, FL	2.0	1.5	962	$1,599	$1.66	23d	1	1.49mi

HOA detail condo

• Monthly dues: $393 · $4,716/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $129,900 Active 93 DOM
2. 2026-06-17
   days on market $129,900 Active 92 DOM
3. 2026-06-16
   days on market $129,900 Active 91 DOM
4. 2026-06-15
   days on market $129,900 Active 90 DOM
5. 2026-06-13
   days on market $129,900 Active 88 DOM
6. 2026-06-10
   days on market $129,900 Active 85 DOM
7. 2026-06-09
   days on market $129,900 Active 84 DOM
8. 2026-06-08
   days on market $129,900 Active 83 DOM
9. 2026-06-07
   days on market $129,900 Active 82 DOM
10. 2026-06-05
    days on market $129,900 Active 79 DOM
11. 2026-06-03
    days on market $129,900 Active 78 DOM
12. 2026-06-03
    days on market $129,900 Active 77 DOM
13. 2026-06-01
    days on market $129,900 Active 76 DOM
14. 2026-05-31
    days on market $129,900 Active 75 DOM
15. 2026-03-17
    listed $129,900 Active
16. 2025-08-10
    status Active
17. 2025-08-01
    status Pending
18. 2025-07-02
    price $139,900
19. 2025-04-08
    price $144,000
20. 2025-02-05
    listed $149,000 Active

ⓘ 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: $1,386 · $115/mo
• Projected year-2 tax: $1,386 · $115/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 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $18,187
• − Mortgage interest: −$7,276
• − Property taxes: −$1,386
• − Insurance: −$650
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − HOA: −$4,716
• − Depreciation: −$3,779
• Taxable loss: −$2,529
• Est. tax savings @ 24.0%: +$607
• After-tax cash flow: $49/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 — 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

• Census place: Lakeland, FL
• County: Polk County · 740,051 people
• City population: 277,690
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 28,751
• Household income: $62,661
• Rent vs Own: 50.1% rent · 49.9% own
• Severe rent burden: 1179.0

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 0.68)
• Race & ethnicity: White 38% Black 37% Hispanic / Latino 20% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Cuban 2%
• Common ancestry: Hispanic 2% Lithuanian 1% Romanian 1%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 16% French/Haitian/Cajun 2% Other Asian/Pacific 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: ▼ -158.44%
• Current HPI: 372.7317
• Rent YoY: ▲ 0.77%
• 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

-12.8% since first listed

6 events — show timeline

• 2026-03-17 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2025-08-10 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-08-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-04-08 Price Changed $144,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-05 Listed $149,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $1,386 · +2.8% YoY. Source: county tax records.