610 Dundee Rd · Dundee, FL 33838

$284,900

4 bd · 2.0 ba · 1,384 sqft · MultiFamily · 136 Days on market

Built 1925 5,500 sqft lot

---

Why this score? — see what drove the C+ 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 +22.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This residential income-producing duplex is an excellent opportunity w/ strong cash flow & upside potential, located on the heavily traveled Dundee Rd leading directly into the fast-growing town of Dundee. With solid in-place income, this property offers an attractive return on investment & the ability to pay for itself in what feels like no time. The duplex totals 1,384 LA & offers convenient parking, making it a strong standalone income asset. It features a 2BR/1BA unit currently leased for $1,500/mo along with a 3BR/1BA unit that has been recently updated w/ fresh paint, warm wood-laminate flooring, & new stainless-steel appliances. This unit has an expected rental

Key facts

• Recently updated
• Central heat air
• Fresh exterior paint

Tags

• CONVENIENT PARKING
• RECENTLY UPDATED
• FRESH EXTERIOR PAINT
• NEW STAINLESS STEEL APPLIANCES
• NEWER MINI SPLIT A/C SYSTEM
• CENTRAL HEAT AIR

Property features AI

Finance

• Financial info: Gross income reported: $40,200; Annual net income reported: $33,413; Annual expenses reported: $6,787; Pro forma rents: $1,850 for the 3-bedroom unit and $1,500 for the 2-bedroom unit
• HOA & community: No association; Street lights in the community

Exterior

• Parking: Guest parking; Open parking; Oversized parking
• Utilities: Public water; Septic tank sewer; Electricity connected; Cable available; Broadband/high-speed internet available; Water connected
• Home design: Residential income property (duplex); One story
• Construction: Stucco and frame construction; Shingle roof; Crawlspace foundation; Built as completed condition
• Exterior features: Covered patio; Patio; Sidewalk

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: Total of 5 bedrooms; One 3-bedroom unit; One 2-bedroom unit
• Flooring: Laminate floors; Tile floors
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating; Other heating system; Central air conditioning; Mini-split units
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen/family room combo; Split bedroom layout; Thermostat
• Laundry & utility: Laundry located outside

What this means for you Summary

Snapshot

• This is a 1×2.0bd/1.0ba + 1×3.0bd/1.0ba units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive. Per door: $242/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• Recommended offer: $251k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#638 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; 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: 149 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• In year one you build about $30k of equity ($2k loan paydown + $28k 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 + 3.0% rent growth), your $80k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.09% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 3.33×
• Total profit: $185,991
• Equity at exit: $256,660

10-year hold

• IRR: 25.7%
• Equity multiple: 7.56×
• Total profit: $523,601
• Equity at exit: $553,498

Cash invested: $79,772 (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 33838

• Home prices YoY: 17.6%
• Active inventory: 149
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $3,104 medium
• Mortgage (P&I): −$1,494
• Tax est. 1.5%: −$356 /mo · $4,274/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $483

Break-even live

Break-even rent $2,492

Max offer price $284,900

Occupancy floor 79%

Sensitivity live

Price	-10% $680	-5% $582	+0% $483	+5% $385	+10% $286
Rent	-10% $238	-5% $361	+0% $483	+5% $606	+10% $728
Rate	-1.0pp $627	-0.5pp $556	base $483	+0.5pp $409	+1.0pp $334

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2.0	1	$1,474
1× unit	3.0	1	$1,629
Total (2 units)			$3,104

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 Lime Ave Dundee, FL	3.0	3.0	1694	$2,400	$1.42	24d	1	0.12mi
702 Lemon Ave Dundee, FL	3.0	2.0	1198	$1,800	$1.50	15d	1	0.13mi
217 Betty Ave S Dundee, FL	3.0	2.0	1150	$1,650	$1.43	24d	1	0.32mi
612 Turnberry Ct Winter Haven, FL	3.0	2.0	1578	$1,695	$1.07	24d	1	1.10mi
36 Enclave Dr Winter Haven, FL	3.0	2.0	1532	$1,990	$1.30	24d	1	1.19mi

Listing history 14 events

1. 2026-06-18
   days on market $284,900 Active 136 DOM
2. 2026-06-17
   days on market $284,900 Active 135 DOM
3. 2026-06-16
   days on market $284,900 Active 134 DOM
4. 2026-06-15
   days on market $284,900 Active 133 DOM
5. 2026-06-13
   days on market $284,900 Active 131 DOM
6. 2026-06-10
   days on market $284,900 Active 128 DOM
7. 2026-06-09
   days on market $284,900 Active 127 DOM
8. 2026-06-08
   days on market $284,900 Active 126 DOM
9. 2026-06-07
   days on market $284,900 Active 125 DOM
10. 2026-06-05
    days on market $284,900 Active 122 DOM
11. 2026-06-03
    days on market $284,900 Active 120 DOM
12. 2026-06-01
    days on market $284,900 Active 119 DOM
13. 2026-05-31
    days on market $284,900 Active 118 DOM
14. 2026-02-02
    listed $284,900 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: $37,248
• − Mortgage interest: −$15,959
• − Property taxes: −$4,274
• − Insurance: −$1,424
• − Repairs & maintenance: −$2,980
• − Management: −$2,980
• − Depreciation: −$8,288
• Taxable income: $1,343
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $5,477/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 — Dundee

• Score: 65/100
• State rank: #638
• US rank: #12542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundee, FL
• City population: 5,431
• Population (ZIP): 5,431

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 0.63)
• Race & ethnicity: Hispanic / Latino 50% White 30% Black 14% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 14% Puerto Rican 19% Dominican 6%
• Common ancestry: Portuguese 1%
• Foreign-born: 18% · Canada, Guatemala
• Languages at home: 53% English-only · Spanish 47%

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: ▲ 54.34%
• Current HPI: 363.9764
• Rent YoY: —
• Metro: —
• 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

• 2026-02-02 Listed $284,900 Stellar MLS as Distributed by MLS Grid