343 Sterling Dr · Cypress Gardens, FL 33884

$259,900

3 bd · 2.0 ba · 1,372 sqft · SingleFamily public records · 7 Days on market

Built 1991 7,497 sqft lot $26/mo HOA · 1% of rent

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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 +12.5/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW CARPET, NEW APPLIANCES, NEW ROOF, NEW EXTERIOR PAINT, CERAMIC TILE IN KITCHEN AND ON SCREENED PORCH.

Key facts

• Berryhill community
• New water heater
• Covered patio

Tags

• BERRYHILL COMMUNITY
• REPLUMBING COMPLETED
• NEW WINDOWS
• NEW ROOF
• NEW WATER HEATER
• COVERED PATIO

Property features AI

Finance

• Other: Total acreage is less than 1/4 acre (approximately 0.17 acre)
• Financial info: Lease restrictions apply
• HOA & community: HOA managed by PARK LAKE PROPERTY MNGMT; Annual association fee of $320 (monthly equivalent $26.67); Association fee required; includes common area taxes; Deed restrictions apply; Pets allowed

Exterior

• Parking: Driveway; Attached 2-car garage
• Security: No specific security system listed
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Cable available; Phone available; BB/HS internet available; Sprinkler recycled
• Home design: Single family residence; One story; South-facing; Homestead exempt
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built as residential single-family
• Exterior features: Covered, enclosed and screened patio/porch options; Front porch; Patio; Porch; French doors; Exterior lighting; Private mailbox; Sprinkler meter; Irrigation equipment; Landscaped; Paved; Vinyl and wood fencing; In county lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Thermostat; Window treatments; Blinds; Double pane windows
• Laundry & utility: Inside laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-38 ($-457/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (22.7% below list).
• Recommended offer: $201k (22.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#110 in FL, #1,693 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: 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: Garden Grove Elementary School (math 49% / reading 40%, grade F, #1,288 of 2,144 statewide, top 62%, 723 students, 46% FRL); Winter Haven Senior High School (math 26% / reading 38%, grade F, #415 of 667 statewide, top 63%, 2,467 students, 50% FRL).
• Market conditions: Rents rising (+1.9%/yr); 680 active listings in the ZIP; 24 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).
• This rent runs 34% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $8k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y ago 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 $175k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $200,980 (22.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.77% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.9% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.36×
• Total profit: $-46,814
• Equity at exit: $38,752

10-year hold

• IRR: -13.0%
• Equity multiple: 0.27×
• Total profit: $-53,020
• Equity at exit: $22,471

Cash invested: $72,772 (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 33884

• Home prices YoY: -34.1%
• Rents YoY: 1.9%
• Active inventory: 680
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,010 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$129 /mo · $1,543/yr
• Insurance: −$108
• HOA: −$26
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-38

Break-even live

Break-even rent $2,058

Max offer price $253,175

Occupancy floor 97%

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Kingshill Ct SE Winter Haven, FL	3.0	2.0	1460	$1,800	$1.23	3d	1	0.33mi
4025 Lake Ned Village Cir Winter Haven, FL	1.0–3.0	1.0–2.0	1025	$1,800	$1.76	3d	8	0.39mi
3110 Gowan Dr Winter Haven, FL	1.0–2.0	1.0–2.0	1007	$1,841	$1.83	14d	24	0.49mi
3904 Osprey Pointe Cir Winter Haven, FL	3.0	2.0	1709	$1,950	$1.14	23d	1	0.50mi
415 Laurel Cove Way Winter Haven, FL	2.0	2.0	1230	$1,725	$1.40	3d	1	0.52mi
133 Lameraux Rd Winter Haven, FL	4.0	2.0	1696	$2,550	$1.50	23d	1	0.55mi
715 Magnolia Pl Unit 715 Winter Haven, FL	2.0	2.0	1078	$1,650	$1.53	23d	1	0.58mi
1015 Lake Forest Blvd Winter Haven, FL	1.0–3.0	1.0–2.0	929	$2,175	$2.34	2d	24	0.59mi
5608 Lake Fox Cir Winter Haven, FL	3.0	2.0	1490	$2,400	$1.61	23d	1	0.61mi
1019 Mockingbird Cir Winter Haven, FL	3.0	2.0	1662	$1,650	$0.99	14d	1	0.62mi
1015 Mahaffey Rd Winter Haven, FL	1.0–3.0	1.0–3.0	1106	$1,948	$1.76	23d	1	0.63mi
7903 Waterview Way Unit 7903 Winter Haven, FL	2.0	2.0	930	$1,600	$1.72	23d	1	0.68mi
616 Crystals Blvd Winter Haven, FL	2.0	2.0	1575	$1,900	$1.21	23d	1	0.69mi
5202 Waterview Way #5202 Winter Haven, FL	2.0	2.0	930	$1,750	$1.88	23d	1	0.74mi
3601 Cypress Gardens Rd Unit 6 Winter Haven, FL	2.0	2.0	1200	$1,200	$1.00	23d	1	0.82mi
2108 Jonathan Ln Winter Haven, FL	3.0	2.0	1792	$1,975	$1.10	23d	1	0.87mi
612 Heather Glen Loop Winter Haven, FL	3.0	2.0	1709	$2,000	$1.17	23d	1	0.92mi
116 Holmes Pl Winter Haven, FL	4.0	3.0	1875	$2,800	$1.49	23d	1	0.98mi
2066 Katie Ct Winter Haven, FL	3.0	2.0	1802	$2,055	$1.14	14d	1	0.98mi
408 Lake Ned Rd Winter Haven, FL	3.0	2.0	1470	$2,100	$1.43	23d	1	1.05mi
121 Longfellow Rd Winter Haven, FL	3.0	2.0	1395	$1,745	$1.25	3d	1	1.08mi
5850 Cypress Gardens Blvd Winter Haven, FL	2.0–3.0	1.5–2.5	1308	$1,800	$1.38	14d	2	1.13mi
5850 Cypress Gardens Blvd #806 Winter Haven, FL	3.0	2.5	1356	$1,800	$1.33	3d	1	1.13mi
728 Lake Ned Rd Winter Haven, FL	3.0	2.0	1664	$2,000	$1.20	23d	1	1.14mi

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 11 events

1. 2026-06-05
   statusdays on market $259,900 Pending 7 DOM
2. 2026-06-03
   days on market $259,900 Active 6 DOM
3. 2026-06-03
   days on market $259,900 Active 5 DOM
4. 2026-06-01
   days on market $259,900 Active 4 DOM
5. 2026-05-31
   days on market $259,900 Active 3 DOM
6. 2026-05-28
   listed $259,900 Active
7. 2006-03-21
   soldstatus $175,000
8. 2006-03-17
   soldstatus $175,000 104-char remark

   Show marketing remark (104 chars)

   NEW CARPET, NEW APPLIANCES, NEW ROOF, NEW EXTERIOR PAINT, CERAMIC TILE IN KITCHEN AND ON SCREENED PORCH.

9. 2005-12-30
   listed $189,900 104-char remark

   Show marketing remark (104 chars)

   NEW CARPET, NEW APPLIANCES, NEW ROOF, NEW EXTERIOR PAINT, CERAMIC TILE IN KITCHEN AND ON SCREENED PORCH.

10. 1998-12-21
    soldstatus $88,900
11. 1996-02-28
    soldstatus $78,800

ⓘ 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: $1,543 · $129/mo
• Projected year-2 tax: $2,157 · $180/mo
• Expected delta: +$614/yr (+$51/mo · 39.8%)

ⓘ 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 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: $24,118
• − Mortgage interest: −$14,558
• − Property taxes: −$1,543
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − HOA: −$312
• − Depreciation: −$7,561
• Taxable loss: −$5,015
• Est. tax savings @ 24.0%: +$1,204
• After-tax cash flow: $747/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 — Cypress Gardens

• Score: 80/100
• State rank: #110
• US rank: #1693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Polk County · 740,051 people
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 37,561
• Household income: $70,443
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 949.0

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 0.55)
• Race & ethnicity: White 63% Hispanic / Latino 19% Black 14% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10% Cuban 2%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 84% English-only · Spanish 12% 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: ▼ -134.69%
• Current HPI: 260.1421
• Rent YoY: ▲ 1.90%
• 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

+229.8% since first listed

6 events — show timeline

• 2026-05-28 Listed $259,900 Stellar MLS as Distributed by MLS Grid
• 2006-03-21 Sold (Public Records) $175,000 Public Records
• 2006-03-17 Sold (MLS) $175,000 Stellar MLS as Distributed by MLS Grid
• 2005-12-30 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 1998-12-21 Sold (Public Records) $88,900 Public Records
• 1996-02-28 Sold (Public Records) $78,800 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,543 · +9.5% YoY. Source: county tax records.