608 DR Martin Luther King St · Dundee, FL 33838

$120,000

3 bd · 1.0 ba · 816 sqft · SingleFamily public records · 115 Days on market

Built 1965 5,201 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Major rehab needed. 3 bedroom, 1 bathroom home located conveniently in Dundee with easy access to dining, shopping, and major roadways. This property features a one car carport and covered front porch. Priced to sell! Schedule your private showing today. Liability waiver required prior to showing.

Key facts

• Covered front porch
• One car carport
• 5,201 sq ft lot

Tags

• ONE CAR CARPORT
• COVERED FRONT PORCH
• EASY ACCESS TO DINING
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Finance

• Financial info: Unfurnished
• HOA & community: No association (HOA) indicated

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Broadband/High-speed internet available; Cable available; Electricity available; Phone available
• Home design: Single family residence; Residential property; Faces east; One level; Has additional parcels; Zoned R-2
• Construction: Block construction; Shingle roof; Pillar/Post/Pier foundation; Built on lot(s) totaling approximately 0.18 acre (2 lots)
• Exterior features: Front porch; Other exterior features; Paved lot

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% 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+, 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: Elbert Elementary School (math 35% / reading 37%, grade F, #1,670 of 2,144 statewide, top 78%, 601 students, 62% FRL); Haines City Senior High School (math 12% / reading 32%, grade F, #544 of 667 statewide, top 82%, 2,700 students, 58% FRL) — zoned schools at 60% FRL track the district average.
• Zoned-school proficiency averages 29% at this address vs 41% district-wide (-12 pts) — the specific schools serving this property underperform the Polk average; the district grade overstates school quality for this exact location.
• 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 $13k of equity ($830 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.37% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.44%
• DSCR: 1.78
• GRM: 6.1

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: 37.2%
• Equity multiple: 3.87×
• Total profit: $96,470
• Equity at exit: $108,106

10-year hold

• IRR: 32.1%
• Equity multiple: 8.73×
• Total profit: $259,657
• Equity at exit: $233,134

Cash invested: $33,600 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$629
• Tax from tax record: −$131 /mo · $1,568/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $488

Break-even live

Break-even rent $1,025

Max offer price $120,000

Occupancy floor 65%

Sensitivity live

Price	-10% $556	-5% $522	+0% $488	+5% $454	+10% $420
Rent	-10% $359	-5% $423	+0% $488	+5% $553	+10% $618
Rate	-1.0pp $549	-0.5pp $519	base $488	+0.5pp $457	+1.0pp $426

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 Dundee Rd Unit 1 Dundee, FL	3.0	1.0	809	$1,850	$2.29	24d	1	0.46mi
1101 Eagle Pond Dr #1101 Winter Haven, FL	2.0	2.0	1017	$1,400	$1.38	24d	1	1.37mi
1202 Eagle Pond Dr Unit 1202 Winter Haven, FL	2.0	2.0	1017	$1,450	$1.43	15d	1	1.38mi
508 Eagle Pond Dr #508 Winter Haven, FL	2.0	2.0	1017	$1,500	$1.47	24d	1	1.41mi
1707 Eagle Pond Dr Unit 1707 Winter Haven, FL	2.0	2.0	1017	$1,450	$1.43	24d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $120,000 Active 115 DOM
2. 2026-06-17
   price $120,000 Active 114 DOM
3. 2026-06-17
   days on market $158,000 Active 114 DOM
4. 2026-06-16
   days on market $158,000 Active 113 DOM
5. 2026-06-15
   days on market $158,000 Active 112 DOM
6. 2026-06-13
   days on market $158,000 Active 110 DOM
7. 2026-06-10
   days on market $158,000 Active 107 DOM
8. 2026-06-09
   days on market $158,000 Active 106 DOM
9. 2026-06-08
   days on market $158,000 Active 105 DOM
10. 2026-06-07
    days on market $158,000 Active 104 DOM
11. 2026-06-05
    days on market $158,000 Active 101 DOM
12. 2026-06-03
    days on market $158,000 Active 99 DOM
13. 2026-06-01
    days on market $158,000 Active 98 DOM
14. 2026-05-31
    days on market $158,000 Active 97 DOM
15. 2026-02-23
    listed $158,000 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: $1,568 · $131/mo
• Projected year-2 tax: $1,568 · $131/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,721
• − Mortgage interest: −$6,722
• − Property taxes: −$1,568
• − Insurance: −$600
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$3,491
• Taxable income: $4,185
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $4,856/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

• 2026-02-23 Listed $158,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+42.4%/yr

Latest (2025): $1,568 · +3.0% YoY. Source: county tax records.