130 E Johnson Ave #206 · Lake Wales, FL 33853

$89,900

2 bd · 2.0 ba · 1,085 sqft · Condo public records · 133 Days on market

Built 1977 $413/mo HOA · 27% of rent

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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 +19.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a fantastic opportunity to own a condo in the heart of Lake Wales! Located at 130 E Johnson Ave, this 2-bedroom, 2-bathroom condo offers great potential in a central location that’s just minutes from local amenities, parks, and more. Though the unit maintains a more classic design, it’s the perfect space for anyone looking to personalize and add value.

Key facts

• Screened in porch
• Gutted and remodeled
• Swimming pool

Tags

• LAKE WALES VILLAGE CONDOMINIUM
• GUTTED AND REMODELED
• GRANITE COUNTERTOPS
• NEW STAINLESS STEEL APPLIANCES
• SCREENED IN PORCH
• SWIMMING POOL

Property features AI

Finance

• Other: Unfurnished; Living area approximately 1,085 square feet
• HOA & community: HOA: Lake Wales Village Condos/Gene Walton; Monthly condo fee of $413 (includes pool, structure maintenance, grounds maintenance, sewer, trash, water); Total annual fees $4,956; Senior community; Cats allowed

Exterior

• Parking: Park in either the front or the back of the building
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Residential condominium; 2 total stories; Unit on 2nd floor; Faces west
• Construction: Block construction; Other roof; Block foundation; Built on less than 1/4 acre lot
• Exterior features: Balcony; Indoor pool

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo
• Laundry & utility: No laundry in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#535 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; 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: 182 active listings in the ZIP; 19 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 133 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 17y ago; this cycle's ask is 6100% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $55k; list at $90k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.68% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-7,434
• Equity at exit: $13,404

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $3,566
• Equity at exit: $7,773

Cash invested: $25,172 (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 33853

• Home prices YoY: -9.2%
• Active inventory: 182
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,509 high
• Mortgage (P&I): −$471
• Tax from tax record: −$163 /mo · $1,957/yr
• Insurance: −$37
• HOA: −$413
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $107

Break-even live

Break-even rent $1,373

Max offer price $89,900

Occupancy floor 88%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 E Park Ave Unit 204 Lake Wales, FL	2.0	1.0	847	$1,800	$2.13	23d	1	0.26mi
244 E Park Ave Unit 201 Lake Wales, FL	2.0	2.5	1119	$1,850	$1.65	23d	1	0.26mi
104 W Stuart Ave Lake Wales, FL	2.0	1.0	720	$1,100	$1.53	3d	1	0.28mi
133 W Park Ave Unit B Lake Wales, FL	3.0	2.0	1151	$1,600	$1.39	23d	1	0.33mi
403 E Johnson Ave Lake Wales, FL	3.0	2.0	1196	$1,650	$1.38	23d	1	0.35mi
307 Steedly Ave Lake Wales, FL	3.0	1.0	1335	$1,895	$1.42	2d	1	0.36mi
444 E Tillman Ave Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	14d	1	0.44mi
444 E Tillman Ave Unit 5 Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	23d	1	0.44mi
610 Emerald Ave Unit 3 Lake Wales, FL	2.0	1.0	864	$1,299	$1.50	21d	1	0.80mi
620 Emerald Ave Unit 1 Lake Wales, FL	2.0	1.0	780	$1,000	$1.28	23d	1	0.82mi
100 E St Lake Wales, FL	2.0	1.5	860	$1,200	$1.40	23d	1	0.85mi
711 Springer Dr #3 Lake Wales, FL	2.0	2.0	972	$1,400	$1.44	23d	1	0.95mi
711 Springer Dr Lake Wales, FL	1.0–2.0	1.0–2.0	848	$1,400	$1.65	3d	2	0.95mi
609 Washington Ave Lake Wales, FL	3.0	2.0	1392	$1,549	$1.11	13d	1	1.10mi
920 Columbia Ave Lake Wales, FL	1.0	1.0	900	$900	$1.00	11d	1	1.16mi
766 Hunt Dr Lake Wales, FL	3.0	2.0	1214	$2,300	$1.89	23d	1	1.17mi
425 F St Unit 2 Lake Wales, FL	3.0	2.0	977	$1,195	$1.22	13d	1	1.30mi
114 E Northside Dr #3 Lake Wales, FL	2.0	1.0	900	$1,200	$1.33	23d	1	1.48mi
202 Owens Rd Lake Wales, FL	3.0	2.0	1133	$1,850	$1.63	23d	1	1.50mi

HOA detail condo

• Monthly dues: $413 · $4,956/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $89,900 Active 133 DOM
2. 2026-06-17
   days on market $89,900 Active 132 DOM
3. 2026-06-16
   days on market $89,900 Active 131 DOM
4. 2026-06-15
   days on market $89,900 Active 130 DOM
5. 2026-06-13
   days on market $89,900 Active 128 DOM
6. 2026-06-10
   days on market $89,900 Active 125 DOM
7. 2026-06-09
   days on market $89,900 Active 124 DOM
8. 2026-06-08
   days on market $89,900 Active 123 DOM
9. 2026-06-07
   days on market $89,900 Active 122 DOM
10. 2026-06-05
    days on market $89,900 Active 119 DOM
11. 2026-06-03
    days on market $89,900 Active 117 DOM
12. 2026-06-01
    days on market $89,900 Active 116 DOM
13. 2026-05-31
    days on market $89,900 Active 115 DOM
14. 2026-05-07
    price $1,425
15. 2026-04-16
    listed $1,450
16. 2026-02-05
    listed $89,900 Active
17. 2025-12-14
    historical
18. 2025-11-18
    status Active
19. 2025-11-14
    historical
20. 2025-11-05
    price $89,900
21. 2025-07-26
    price $99,900
22. 2025-05-14
    listed $109,900 Active
23. 2025-04-16
    soldstatus $55,000
24. 2025-04-15
    soldstatus $55,000 Closed 375-char remark

    Show marketing remark (375 chars)

    Discover a fantastic opportunity to own a condo in the heart of Lake Wales! Located at 130 E Johnson Ave, this 2-bedroom, 2-bathroom condo offers great potential in a central location that’s just minutes from local amenities, parks, and more. Though the unit maintains a more classic design, it’s the perfect space for anyone looking to personalize and add value.

25. 2025-03-27
    status Pending 375-char remark

    Show marketing remark (375 chars)

    Discover a fantastic opportunity to own a condo in the heart of Lake Wales! Located at 130 E Johnson Ave, this 2-bedroom, 2-bathroom condo offers great potential in a central location that’s just minutes from local amenities, parks, and more. Though the unit maintains a more classic design, it’s the perfect space for anyone looking to personalize and add value.

26. 2025-03-12
    listed $64,999 Active 375-char remark

    Show marketing remark (375 chars)

    Discover a fantastic opportunity to own a condo in the heart of Lake Wales! Located at 130 E Johnson Ave, this 2-bedroom, 2-bathroom condo offers great potential in a central location that’s just minutes from local amenities, parks, and more. Though the unit maintains a more classic design, it’s the perfect space for anyone looking to personalize and add value.

27. 2024-11-03
    historical
28. 2024-09-24
    price $91,000
29. 2024-08-19
    price $95,900
30. 2024-05-19
    price $99,990
31. 2024-05-01
    listed $105,000 Active
32. 2018-09-18
    soldstatus $52,500
33. 2018-09-14
    soldstatus $52,500 Sold
34. 2018-08-21
    price $53,299
35. 2018-08-21
    price $55,000
36. 2018-06-25
    status Active
37. 2018-06-18
    historical
38. 2018-05-12
    price $52,500
39. 2018-05-07
    price $54,000
40. 2018-05-06
    price $59,499
41. 2018-02-10
    listed $59,999 Active
42. 2017-12-22
    soldstatus $34,500
43. 2017-12-11
    soldstatus $34,500 Sold
44. 2017-11-22
    status Pending
45. 2017-11-01
    status Active
46. 2017-10-24
    status Pending
47. 2017-10-10
    price $37,700
48. 2017-08-10
    listed $37,900 Active
49. 2014-06-05
    soldstatus $22,000 Sold
50. 2014-06-05
    soldstatus $22,000

ⓘ 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: $1,957 · $163/mo
• Projected year-2 tax: $1,957 · $163/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,109
• − Mortgage interest: −$5,036
• − Property taxes: −$1,957
• − Insurance: −$450
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − HOA: −$4,956
• − Depreciation: −$2,615
• Taxable income: $198
• Est. tax owed @ 24.0%: −$47
• After-tax cash flow: $1,239/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 — Lake Wales

• Score: 68/100
• State rank: #535
• US rank: #10036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Wales, FL
• City population: 30,351
• Population (ZIP): 12,385

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 0.65)
• Race & ethnicity: White 42% Hispanic / Latino 36% Black 19% Two or more races 16%
• Hispanic origin (detail): Mexican 10% Puerto Rican 18% Cuban 2% Dominican 1%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 72% English-only · Spanish 27%

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: ▼ -33.98%
• Current HPI: 333.8292
• 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

-96.5% since first listed

46 events — show timeline

• 2026-05-07 Price Changed $1,425 BUILDIUM
• 2026-04-16 Listed for Rent $1,450 BUILDIUM
• 2026-02-05 Listed $89,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-18 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-11-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-11-05 Price Changed $89,900 Stellar MLS as Distributed by MLS Grid
• 2025-07-26 Price Changed $99,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-14 Listed $109,900 Stellar MLS as Distributed by MLS Grid
• 2025-04-16 Sold (Public Records) $55,000 Public Records
• 2025-04-15 Sold (MLS) $55,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-03-12 Listed $64,999 Stellar MLS as Distributed by MLS Grid
• 2024-11-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-09-24 Price Changed $91,000 Stellar MLS as Distributed by MLS Grid
• 2024-08-19 Price Changed $95,900 Stellar MLS as Distributed by MLS Grid
• 2024-05-19 Price Changed $99,990 Stellar MLS as Distributed by MLS Grid
• 2024-05-01 Listed $105,000 Stellar MLS as Distributed by MLS Grid
• 2018-09-18 Sold (Public Records) $52,500 Public Records
• 2018-09-14 Sold (MLS) $52,500 Stellar MLS as Distributed by MLS Grid
• 2018-08-21 Price Changed $53,299 Stellar MLS as Distributed by MLS Grid
• 2018-08-21 Price Changed $55,000 Stellar MLS as Distributed by MLS Grid
• 2018-06-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2018-06-18 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-05-12 Price Changed $52,500 Stellar MLS as Distributed by MLS Grid
• 2018-05-07 Price Changed $54,000 Stellar MLS as Distributed by MLS Grid
• 2018-05-06 Price Changed $59,499 Stellar MLS as Distributed by MLS Grid
• 2018-02-10 Listed $59,999 Stellar MLS as Distributed by MLS Grid
• 2017-12-22 Sold (Public Records) $34,500 Public Records
• 2017-12-11 Sold (MLS) $34,500 Stellar MLS as Distributed by MLS Grid
• 2017-11-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-11-01 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-10-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-10-10 Price Changed $37,700 Stellar MLS as Distributed by MLS Grid
• 2017-08-10 Listed $37,900 Stellar MLS as Distributed by MLS Grid
• 2014-06-05 Sold (MLS) $22,000 HAOR as distributed by MLS GRID
• 2014-06-05 Sold (MLS) $22,000 Stellar MLS as Distributed by MLS Grid
• 2014-04-16 Pending — Stellar MLS as Distributed by MLS Grid
• 2013-12-19 Listed $23,900 HAOR as distributed by MLS GRID
• 2013-12-19 Listed $23,900 Stellar MLS as Distributed by MLS Grid
• 2009-12-08 Listed $49,900 Stellar MLS as Distributed by MLS Grid
• 2007-04-17 Sold (Public Records) $55,900 Public Records
• 2005-12-08 Sold (Public Records) $55,900 Public Records
• 2005-06-02 Sold (Public Records) $28,000 Public Records
• 1999-12-30 Sold (Public Records) $31,000 Public Records
• 1981-11-01 Sold (Public Records) $41,000 Public Records

Property tax history

+12.6%/yr

Latest (2025): $1,957 · +246.9% YoY. Source: county tax records.