1050 Captiva Pt · Crystal Lake, FL 33801

$259,000

4 bd · 5.0 ba · 1,985 sqft · MultiFamily · 60 Days on market

Built 1981 5,776 sqft lot $8/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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This investment or starter property is available for purchase in its current (AS-IS) condition. It is a duplex located within the Secret Cove subdivision, conveniently positioned near Reynolds Road. The front unit offers two bedrooms and two bathrooms, while the rear unit provides two bedrooms and one-and-a-half bathrooms. Utility costs, including electricity and water, are the responsibility of the tenants. Currently, the front unit is occupied by a long-term tenant on a month-to-month lease, whereas the rear unit is vacant. Notable improvements include a new roof installed in March 2021 and both air conditioning systems replaced approximately six years ago. Both units feature fully tiled

Key facts

• Tiled floors
• Duplex
• Secret cove

Tags

• DUPLEX
• SECRET COVE
• NEW ROOF
• TILED FLOORS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.5-bath units multifamily listed at $259k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive. Per door: $126/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $251k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#620 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, 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.
• Market conditions: Rents rising (+1.1%/yr); 253 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• At $2,596/mo this rent would consume 59% of the median local household income ($53k/yr) (locally 1291% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• It's been on market 60 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.

Recommended offer $251,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.00% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.05% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.58×
• Total profit: $-30,811
• Equity at exit: $38,618

10-year hold

• IRR: -6.0%
• Equity multiple: 0.65×
• Total profit: $-25,621
• Equity at exit: $22,394

Cash invested: $72,520 (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 33801

• Home prices YoY: -15.9%
• Rents YoY: 1.1%
• Active inventory: 253
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $2,596 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$8
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $253

Break-even live

Break-even rent $2,276

Max offer price $259,000

Occupancy floor 85%

Sensitivity live

Price	-10% $432	-5% $342	+0% $253	+5% $163	+10% $74
Rent	-10% $48	-5% $150	+0% $253	+5% $355	+10% $458
Rate	-1.0pp $383	-0.5pp $319	base $253	+0.5pp $186	+1.0pp $118

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2.5	$2,596
Total (2 units)			$2,596

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Skyline Dr E Lakeland, FL	3.0	2.0	1260	$2,300	$1.83	4d	1	0.52mi
1803 Venus St Lakeland, FL	3.0	2.0	1259	$1,645	$1.31	4d	1	0.79mi
3521 Cindy Ln Lakeland, FL	4.0	2.0	2143	$2,300	$1.07	24d	1	0.84mi
2524 Kiwanis Ave Lakeland, FL	3.0	1.5	1468	$1,670	$1.14	13d	1	1.13mi
210 Josh Reynolds Rd Lakeland, FL	3.0	2.0	1543	$2,100	$1.36	15d	1	1.50mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: waterelectric

Listing history 3 events

1. 2026-06-18
   days on market $259,000 Active 60 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $259,000 Active 59 DOM

ⓘ 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: $31,152
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,492
• − Management: −$2,492
• − HOA: −$96
• − Depreciation: −$7,535
• Taxable loss: −$1,151
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $3,312/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 — Crystal Lake

• Score: 66/100
• State rank: #620
• US rank: #12023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crystal Lake, FL
• County: Polk County · 740,051 people
• City population: 33,460
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 35,394
• Household income: $53,061
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1291.0

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 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 19% Black 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Cuban 3%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 14% 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: ▼ -70.91%
• Current HPI: 373.7159
• Rent YoY: ▲ 1.05%
• 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