1603 Foxway Dr · Lakeland, FL 33810

$155,000

2 bd · 3.0 ba · 1,248 sqft · Manufactured public records · 32 Days on market

Built 1984 4,783 sqft lot $80/mo HOA · 5% 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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL PALM HARBOR ON WELL LANDSCAPED CORNER LOT, WITH CARPORT AND SINGLE GARAGE, AIR COND. FL ROOM, BONUS ROOM WITH SPA, AUTO-SPRINKLERS. ROOF-OVER, NEW WATER HEATER, NEWER CARPET. HOME IS RE-PLUMBED. HOME WARRANTY INCLUDED. NICE CURB APPEAL.

Key facts

• Clubhouse
• Large enclosed room
• Flexible floorplan

Tags

• UPDATED KITCHEN COUNTERTOPS
• FLEXIBLE FLOORPLAN
• LARGE ENCLOSED ROOM
• OVERSIZED SCREENED LANAI
• CORNER LOT
• CLUBHOUSE

Property features AI

Finance

• Other: Lease restrictions apply; Total lot dimensions approximately 60 x 82 (0.11 acres); Road surface: asphalt
• HOA & community: HOA (Melody - Foxwood Lake Estates) with required approval; HOA dues about $80.67 monthly ($968 annually); Community clubhouse, fitness center, pool, sidewalks, community mailbox; Golf carts allowed; Senior community; Pets allowed (cats and dogs)

Exterior

• Parking: Driveway; 1-car carport
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected
• Home design: Manufactured home (double wide); One level; Home faces south; Homestead status
• Construction: Vinyl siding; Other roof type; Crawlspace foundation; Building area about 1,972 sq ft (per records)
• Exterior features: Enclosed porch/patio; Sliding doors; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heat; Central air conditioning
• Interior features: Ceiling fans; Solid surface counters; Sliding doors; Enclosed porch/patio (enclosed porch)
• Laundry & utility: Inside utility / laundry (details listed as 'Other'); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/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 $154k (0.4% below list).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#206 in FL, #3,179 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; 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.
• Market conditions: Rents rising (+2.8%/yr); 504 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $1k of loan paydown is wiped out by about $5k 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 32 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $100k; list at $155k implies a 55% 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; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.78% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-11,479
• Equity at exit: $23,111

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $6,554
• Equity at exit: $13,402

Cash invested: $43,400 (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 33810

• Rents YoY: 2.8%
• Active inventory: 504
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$813
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$65
• HOA: −$80
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $220

Break-even live

Break-even rent $1,266

Max offer price $155,000

Occupancy floor 81%

Sensitivity live

Price	-10% $308	-5% $264	+0% $220	+5% $176	+10% $132
Rent	-10% $98	-5% $159	+0% $220	+5% $281	+10% $342
Rate	-1.0pp $298	-0.5pp $259	base $220	+0.5pp $180	+1.0pp $139

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1567 Longbow Dr Lakeland, FL	2.0	1.5	864	$1,195	$1.38	4d	1	0.08mi
5227 Grace St E Lakeland, FL	3.0	2.0	1062	$1,775	$1.67	24d	1	0.33mi
4500 Williamstown Blvd Lakeland, FL	3.0	1.0–2.0	1062	$1,508	$1.42	24d	1	0.53mi
1510 Galloway Oaks Dr Lakeland, FL	2.0–3.0	2.0	1066	$1,376	$1.29	22d	8	0.57mi
1545 Kennedy Blvd Lakeland, FL	1.0–3.0	1.0–2.0	997	$1,682	$1.69	3d	24	0.67mi
4240 Summer Landing Dr #106 Lakeland, FL	3.0	2.0	1038	$1,700	$1.64	24d	1	0.71mi
4240 Summer Landing Dr Lakeland, FL	2.0–3.0	2.0	1083	$1,450	$1.34	15d	2	0.71mi
5233 US Highway 98 N Lakeland, FL	1.0–2.0	1.0–2.0	794	$1,505	$1.89	3d	15	0.72mi
4355 Corporate Ave Lakeland, FL	2.0	2.0	872	$1,531	$1.76	11d	1	0.84mi
6120 Burnett St Lakeland, FL	1.0–3.0	1.0–2.0	1002	$1,910	$1.91	4d	21	1.05mi
733 Carpenters Way #37 Lakeland, FL	2.0	1.5	1307	$1,400	$1.07	20d	1	1.15mi
909 Shirley Ann Trl Lakeland, FL	2.0	2.0	950	$1,460	$1.54	24d	1	1.20mi
3939 Golf Village Loop Lakeland, FL	2.0	1.0–2.0	878	$1,619	$1.84	4d	6	1.27mi
6032 Norton Rd Unit 6032 Lakeland, FL	2.0	2.0	880	$1,295	$1.47	24d	1	1.29mi
6031 Crafton Dr Lakeland, FL	2.0	1.0	914	$1,125	$1.23	15d	1	1.33mi
6131 Doe Cir E Lakeland, FL	3.0	2.0	1353	$1,700	$1.26	15d	1	1.48mi

HOA detail

• Monthly dues: $80 · $960/yr
• Likely covers: water

Listing history 19 events

1. 2026-06-18
   days on market $155,000 Active 32 DOM
2. 2026-06-17
   days on market $155,000 Active 31 DOM
3. 2026-06-16
   days on market $155,000 Active 30 DOM
4. 2026-06-15
   days on market $155,000 Active 29 DOM
5. 2026-06-13
   days on market $155,000 Active 27 DOM
6. 2026-06-10
   days on market $155,000 Active 24 DOM
7. 2026-06-09
   days on market $155,000 Active 23 DOM
8. 2026-06-08
   days on market $155,000 Active 22 DOM
9. 2026-06-07
   days on market $155,000 Active 21 DOM
10. 2026-06-05
    days on market $155,000 Active 18 DOM
11. 2026-06-03
    days on market $155,000 Active 17 DOM
12. 2026-06-03
    days on market $155,000 Active 16 DOM
13. 2026-06-01
    pricedays on market $155,000 Active 15 DOM
14. 2026-05-31
    days on market $162,500 Active 14 DOM
15. 2026-05-12
    listed $162,500 Active
16. 2006-09-01
    soldstatus $100,000
17. 2006-08-29
    soldstatus $100,000 246-char remark

    Show marketing remark (246 chars)

    BEAUTIFUL PALM HARBOR ON WELL LANDSCAPED CORNER LOT, WITH CARPORT AND SINGLE GARAGE, AIR COND. FL ROOM, BONUS ROOM WITH SPA, AUTO-SPRINKLERS. ROOF-OVER, NEW WATER HEATER, NEWER CARPET. HOME IS RE-PLUMBED. HOME WARRANTY INCLUDED. NICE CURB APPEAL.

18. 2006-05-05
    listed $104,900 246-char remark

    Show marketing remark (246 chars)

    BEAUTIFUL PALM HARBOR ON WELL LANDSCAPED CORNER LOT, WITH CARPORT AND SINGLE GARAGE, AIR COND. FL ROOM, BONUS ROOM WITH SPA, AUTO-SPRINKLERS. ROOF-OVER, NEW WATER HEATER, NEWER CARPET. HOME IS RE-PLUMBED. HOME WARRANTY INCLUDED. NICE CURB APPEAL.

19. 1983-10-01
    soldstatus $11,000

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$772/yr (+$64/mo · 149.9%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,533
• − Mortgage interest: −$8,682
• − Property taxes: −$515
• − Insurance: −$775
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − HOA: −$960
• − Depreciation: −$4,509
• Taxable income: $127
• Est. tax owed @ 24.0%: −$30
• After-tax cash flow: $2,607/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 — Lakeland

• Score: 77/100
• State rank: #206
• US rank: #3179

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeland, FL
• County: Polk County · 740,051 people
• City population: 277,690
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 55,137
• Household income: $69,986
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1208.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 23% Black 12% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Cuban 5%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 17% French/Haitian/Cajun 1% Tagalog/Filipino 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: ▼ -194.94%
• Current HPI: 320.7366
• Rent YoY: ▲ 2.78%
• 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

+1377.3% since first listed

5 events — show timeline

• 2026-05-12 Listed $162,500 Stellar MLS as Distributed by MLS Grid
• 2006-09-01 Sold (Public Records) $100,000 Public Records
• 2006-08-29 Sold (MLS) $100,000 Stellar MLS as Distributed by MLS Grid
• 2006-05-05 Listed $104,900 Stellar MLS as Distributed by MLS Grid
• 1983-10-01 Sold (Public Records) $11,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $515 · +1.8% YoY. Source: county tax records.