331 Walter Ave · Frostproof, FL 33843

$164,900

3 bd · 1.0 ba · 800 sqft · SingleFamily public records · 48 Days on market

Built 1962 8,995 sqft lot $2/mo HOA

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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 +15.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Appreciation +4.7/10.0
• 1% rule +4.1/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

Key facts

• Mini-split systems
• Kitchen refreshed
• Updated flooring

Tags

• UPDATED FLOORING
• FRESH INTERIOR PAINT
• FRESH EXTERIOR PAINT
• KITCHEN REFRESHED
• BATH REFRESHED
• MINI-SPLIT SYSTEMS

Property features AI

Finance

• Other: Zoned R-1; Property type: Residential, Single Family Residence
• HOA & community: Has HOA (optional fee); Association fee $25 annually (about $2.08/month); Pets allowed

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single family residence; One story; Faces west
• Construction: Block construction; Shingle roof; Slab foundation; Built on lot of about 0.21 acres (75 x 120)
• Exterior features: Other exterior features; Asphalt road access

Interior

• Kitchen: Range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Mini-split cooling; Other heating
• Interior features: Ceiling fans
• Laundry & utility: Indoor laundry with washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $73 ($871/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (9.1% below list).
• Recommended offer: $150k (9.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#456 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety 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: 437 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 $33 of equity ($1k loan paydown + $-1k appreciation (-0.7% local appreciation)).
• 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 48 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $165k implies a 312% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 $149,835 (9.1% below list)

Questions for the listing agent

1. It's been on market 48 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 1962 — 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. 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. 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 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: 0.91% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.88×
• Total profit: $-5,328
• Equity at exit: $42,422

10-year hold

• IRR: 3.8%
• Equity multiple: 1.38×
• Total profit: $17,341
• Equity at exit: $46,818

Cash invested: $46,172 (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 33843

• Home prices YoY: -0.2%
• Active inventory: 437
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,498 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$176 /mo · $2,108/yr
• Insurance: −$69
• HOA: −$2
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $73

Break-even live

Break-even rent $1,406

Max offer price $164,900

Occupancy floor 90%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 22 events

1. 2026-06-18
   days on market $164,900 Active 48 DOM
2. 2026-06-17
   days on market $164,900 Active 47 DOM
3. 2026-06-16
   days on market $164,900 Active 46 DOM
4. 2026-06-15
   days on market $164,900 Active 45 DOM
5. 2026-06-13
   remarks 343-char remark
6. 2026-06-13
   pricedays on market $164,900 Active 43 DOM
7. 2026-06-10
   days on market $169,900 Active 40 DOM
8. 2026-06-09
   days on market $169,900 Active 39 DOM
9. 2026-06-08
   days on market $169,900 Active 38 DOM
10. 2026-06-07
    days on market $169,900 Active 37 DOM
11. 2026-06-05
    days on market $169,900 Active 34 DOM
12. 2026-06-03
    days on market $169,900 Active 33 DOM
13. 2026-06-03
    days on market $169,900 Active 32 DOM
14. 2026-06-01
    days on market $169,900 Active 31 DOM
15. 2026-05-31
    days on market $169,900 Active 30 DOM
16. 2026-05-22
    price $169,900 312-char remark

    Show marketing remark (312 chars)

    Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

17. 2026-05-22
    price $169,900

    Show marketing remark (312 chars)

    Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

18. 2026-05-08
    price $175,000 312-char remark

    Show marketing remark (312 chars)

    Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

19. 2026-05-08
    price $175,000

    Show marketing remark (312 chars)

    Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

20. 2026-05-01
    listed $185,000 Active 312-char remark

    Show marketing remark (312 chars)

    Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

21. 2026-05-01
    listed $185,000 Active

    Show marketing remark (312 chars)

    Nicely updated 3BR/1BA home in Frostproof. Move-in ready with updated flooring, fresh interior and exterior paint. Kitchen and bath refreshed. Two mini-split systems for efficient heating and cooling. Great for first-time buyers or investors looking to start or grow their portfolio. Schedule your showing today!

22. 2001-05-21
    soldstatus $40,000

ⓘ 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: $2,108 · $176/mo
• Projected year-2 tax: $2,108 · $176/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 9/10 Extreme 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,980
• − Mortgage interest: −$9,237
• − Property taxes: −$2,108
• − Insurance: −$824
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − HOA: −$24
• − Depreciation: −$4,797
• Taxable loss: −$1,887
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $1,324/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 — Frostproof

• Score: 69/100
• State rank: #456
• US rank: #8297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,072

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 24% Two or more races 14% Black 8%
• Hispanic origin (detail): Mexican 12% Puerto Rican 9% Cuban 2%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 78% English-only · Spanish 20%

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: ▼ -0.67%
• Current HPI: 311.1519
• 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

+324.8% since first listed

7 events — show timeline

• 2026-05-22 Price Changed $169,900 HAOR as distributed by MLS GRID
• 2026-05-22 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $175,000 HAOR as distributed by MLS GRID
• 2026-05-08 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Listed $185,000 HAOR as distributed by MLS GRID
• 2001-05-21 Sold (Public Records) $40,000 Public Records

Property tax history

+27.3%/yr

Latest (2025): $2,108 · +8.2% YoY. Source: county tax records.