32 N Palmetto Ave · Fort Meade, FL 33841

$234,999

1 bd · 1.0 ba · 1,920 sqft · MultiFamily public records · 78 Days on market

Built 1956 6,996 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 +27.0/30.0
• Appreciation +10.0/10.0
• DSCR +9.3/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• 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: 3 units. confirmed

Listing remarks

Value-add triplex located in Ft. Meade offering strong upside potential for investors. The property features a unit mix of (1) 2-bedroom/1-bath unit and (2) 1-bedroom/1-bath units, providing a solid layout for consistent rental demand. Current rents are below market, presenting an opportunity to increase cash flow through interior improvements and operational efficiencies. Ideal for an investor seeking a property with clear rental upside in a growing Central Florida market.

Key facts

• 6,996 sq ft lot
• Built 1956
• Listed 78 days

Property features AI

Finance

• Other: Living area approximately 1,920 (as reported); Total building area reported as 1,920 (public records)
• Financial info: Annual net income reported: $21,000; Pro forma rents: one 2-bedroom unit at $1,050; two 1-bedroom units at $900 each
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Broadband/High-speed internet available
• Home design: Residential income property (Triplex); One building on the lot; R-2 zoning
• Construction: Frame construction; Metal roof; Slab foundation; Lot approximately 0.16 acres (73 x 95)
• Exterior features: Other exterior features; Asphalt road access

Interior

• Bedrooms: Total of 4 bedrooms; Units include one 2-bedroom unit and two 1-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Ductless heating; Wall/window air conditioning units
• Interior features: Other interior features
• Laundry & utility: No laundry room features listed

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive. Per door: $219/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $221k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#779 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools 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.
• Market conditions: 119 active listings in the ZIP; 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k 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 $66k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $118k; list at $235k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,899 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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 1956 — 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: 1.27% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• GRM: 6.6

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: 33.1%
• Equity multiple: 3.58×
• Total profit: $169,827
• Equity at exit: $211,706

10-year hold

• IRR: 28.5%
• Equity multiple: 8.10×
• Total profit: $467,455
• Equity at exit: $456,551

Cash invested: $65,800 (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 33841

• Home prices YoY: 7.7%
• Active inventory: 119
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $2,975 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$364 /mo · $4,373/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $656

Break-even live

Break-even rent $2,145

Max offer price $234,999

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$992
▸ 2× units	1	1	$1,984
Total (3 units)			$2,975

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $234,999 Active 78 DOM
2. 2026-06-17
   days on market $234,999 Active 77 DOM
3. 2026-06-16
   days on market $234,999 Active 76 DOM
4. 2026-06-15
   days on market $234,999 Active 75 DOM
5. 2026-06-13
   days on market $234,999 Active 73 DOM
6. 2026-06-10
   days on market $234,999 Active 70 DOM
7. 2026-06-09
   days on market $234,999 Active 69 DOM
8. 2026-06-08
   days on market $234,999 Active 68 DOM
9. 2026-06-07
   days on market $234,999 Active 67 DOM
10. 2026-06-05
    days on market $234,999 Active 64 DOM
11. 2026-06-03
    days on market $234,999 Active 63 DOM
12. 2026-06-03
    days on market $234,999 Active 62 DOM
13. 2026-06-01
    days on market $234,999 Active 61 DOM
14. 2026-05-31
    days on market $234,999 Active 60 DOM
15. 2026-04-01
    listed $234,999 Active
16. 2019-12-02
    soldstatus $118,000
17. 2019-11-04
    status Pending
18. 2019-10-21
    listed $120,000 Active
19. 2019-07-30
    soldstatus $77,000
20. 2003-10-17
    soldstatus $55,000
21. 1994-03-01
    soldstatus $116,000

ⓘ 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: $4,373 · $364/mo
• Projected year-2 tax: $4,373 · $364/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,700
• − Mortgage interest: −$13,164
• − Property taxes: −$4,373
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,856
• − Management: −$2,856
• − Depreciation: −$6,836
• Taxable income: $4,440
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $6,801/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 — Fort Meade

• Score: 61/100
• State rank: #779
• US rank: #17625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Meade, FL
• Population (ZIP): 8,268

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 0.59)
• Race & ethnicity: White 50% Hispanic / Latino 38% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 32% Puerto Rican 3%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 70% English-only · Spanish 30%

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: ▲ 26.92%
• Current HPI: 376.8183
• 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

+102.6% since first listed

7 events — show timeline

• 2026-04-01 Listed $234,999 Stellar MLS as Distributed by MLS Grid
• 2019-12-02 Sold (Public Records) $118,000 Public Records
• 2019-11-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-10-21 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2019-07-30 Sold (Public Records) $77,000 Public Records
• 2003-10-17 Sold (Public Records) $55,000 Public Records
• 1994-03-01 Sold (Public Records) $116,000 Public Records

Property tax history

+16.0%/yr

Latest (2025): $4,373 · +15.4% YoY. Source: county tax records.