47 Woodruff Way · Lake Wales, FL 33898

$98,000

1 bd · 1.0 ba · 408 sqft · Manufactured public records · 152 Days on market

Built 1999 4,060 sqft lot $226/mo HOA · 20% 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 +12.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +3.8/10.0
• 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

This 1/1 furnished and turnkey home is located in the premier 55+ gated community of Saddlebag Lake Resort, where you own the land. As a Homes of Merit trade show model, it was built with a lot of upgrades, including a built-in hutch cabinet in the dining room, and there are solid wood cabinets in the kitchen, bathroom, and bedroom. A new HVAC was installed in 2020 in the original section of the home, while a brand new mini-split system was just installed in the addition in 2026. Other recent upgrades include a new range (2023) and microwave (2022). The spacious laundry room has a utility sink and comes with a washer & dryer stack, plus there's a second refrigerator for all your extra

Key facts

• Solid wood cabinets
• Mini-split system
• New hvac

Tags

• FURNISHED AND TURNKEY
• BUILT-IN HUTCH CABINET
• SOLID WOOD CABINETS
• NEW HVAC
• MINI-SPLIT SYSTEM
• NEW RANGE

Property features AI

Finance

• Other: Turnkey furnished; Lease restrictions apply
• Financial info: Total annual fees approximately $2,720
• HOA & community: Has HOA (monthly common fee approximately $226.67; quarterly fee noted $680); HOA covers water, sewer and trash; Community amenities: clubhouse, fitness center, pool, tennis courts, pickleball courts, shuffleboard court, spa/hot tub, sauna, recreation facilities, security; Community features: dog park, golf carts allowed; Senior community; Pets allowed (cats and dogs); Association approval not required

Exterior

• Security: Gated community
• Utilities: Private water; Private sewer; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured home (single wide); One level; Southwest facing; Located in a gated community; Water access to lagoon/lake (Saddlebag Lake)
• Construction: Vinyl siding; Metal/other roof; Crawlspace foundation; Built by Homes of Merit
• Exterior features: Patio; Awning(s); Shed(s); Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Mini-split unit(s)
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $-11 ($-128/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (1.9% below list).
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $86k (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: 500 active listings in the ZIP; 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 $678 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 152 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $98k implies a 460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,240 (12.0% 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. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.15% ✓
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 7.3

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-16,405
• Equity at exit: $14,612

10-year hold

• IRR: -8.4%
• Equity multiple: 0.47×
• Total profit: $-14,538
• Equity at exit: $8,473

Cash invested: $27,440 (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 33898

• Home prices YoY: -15.1%
• Active inventory: 500
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$41
• HOA: −$226
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-11

Break-even live

Break-even rent $1,136

Max offer price $96,122

Occupancy floor 96%

Sensitivity live

Price	-10% $45	-5% $17	+0% $-11	+5% $-38	+10% $-66
Rent	-10% $-99	-5% $-55	+0% $-11	+5% $34	+10% $78
Rate	-1.0pp $39	-0.5pp $14	base $-11	+0.5pp $-36	+1.0pp $-62

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $226 · $2,712/yr
• Likely covers: security

Listing history 15 events

1. 2026-06-18
   days on market $98,000 Active 152 DOM
2. 2026-06-17
   days on market $98,000 Active 151 DOM
3. 2026-06-16
   days on market $98,000 Active 150 DOM
4. 2026-06-15
   days on market $98,000 Active 149 DOM
5. 2026-06-13
   days on market $98,000 Active 147 DOM
6. 2026-06-10
   days on market $98,000 Active 144 DOM
7. 2026-06-09
   days on market $98,000 Active 143 DOM
8. 2026-06-08
   days on market $98,000 Active 142 DOM
9. 2026-06-07
   days on market $98,000 Active 141 DOM
10. 2026-06-05
    days on market $98,000 Active 138 DOM
11. 2026-06-03
    days on market $98,000 Active 136 DOM
12. 2026-06-01
    days on market $98,000 Active 135 DOM
13. 2026-05-31
    days on market $98,000 Active 134 DOM
14. 2026-01-17
    listed $98,000 Active
15. 1994-03-08
    soldstatus $17,500

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,402 · $117/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,472
• − Mortgage interest: −$5,490
• − Property taxes: −$1,402
• − Insurance: −$490
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − HOA: −$2,712
• − Depreciation: −$2,851
• Taxable loss: −$1,627
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $263/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

• County: Polk County · 740,051 people
• City population: 30,351
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 18,527
• Household income: $57,224
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 148.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 17% Two or more races 10% Black 6%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4% Cuban 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17% 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: ▼ -60.62%
• Current HPI: 340.6056
• Rent YoY: —
• 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

+460.0% since first listed

2 events — show timeline

• 2026-01-17 Listed $98,000 Stellar MLS as Distributed by MLS Grid
• 1994-03-08 Sold (Public Records) $17,500 Public Records

Property tax history

+9.1%/yr

Latest (2025): $1,402 · +15.3% YoY. Source: county tax records.