301 SW 3rd Ter · Mulberry, FL 33860

$1,325,000

None bd · None ba · 1,104 sqft · MultiFamily public records · 139 Days on market

Built 1950 0.79 ac 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Take a look at this income producing property. 12 total units /six buildings. This property includes a large extra lot with potential to add another property. Property is usually 100% occupied. There is room for increased rents . Call today

Key facts

• 12 units
• Own hvac
• 6 duplexes

Tags

• MULTI FAMILY PROPERTY
• 12 UNITS
• 6 DUPLEXES
• UPDATED INTERIORS
• OWN HVAC
• WASHER AND DRYER HOOKUPS

Property features AI

Finance

• Other: Zoning: R-1; Has additional parcels; Universal property identifier available
• Financial info: Estimated annual market income approximately $147,000; Annual net income approximately $121,331; Tenant pays electricity, water and trash collection; Property includes 12 units across 6 buildings on 2 lots (about 0.79 acres)

Exterior

• Utilities: Public water; Public sewer; Electricity available
• Home design: Residential income property (Duplex); One story
• Construction: Block construction; Shingle roof; Slab foundation; Built as multiple buildings (6 total buildings)
• Exterior features: Other exterior features; Asphalt road access

Interior

• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other interior features
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 12 × 3-bed/1.5-bath units multifamily listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $5k ($65k/yr) — positive. Per door: $450/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.32M).
• Recommended offer: $1.17M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#311 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: Rents rising (+1.6%/yr); 180 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• At $17,941/mo this rent would consume 328% of the median local household income ($66k/yr) (locally 583% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $40k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $371k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($1.17M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask is 120355% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $625k; list at $1.32M implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1,166,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% 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 1950 — 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: 1.35% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.48%
• DSCR: 1.78
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.59% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.28×
• Total profit: $104,355
• Equity at exit: $197,562

10-year hold

• IRR: 15.4%
• Equity multiple: 2.17×
• Total profit: $434,008
• Equity at exit: $114,562

Cash invested: $371,000 (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 33860

• Home prices YoY: -22.4%
• Rents YoY: 1.6%
• Active inventory: 180
• Price-to-rent: 73.9×

Monthly cashflow live

• Estimated rent: $17,941 high
• Mortgage (P&I): −$6,948
• Tax from tax record: −$1,270 /mo · $15,236/yr
• Insurance: −$552
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,768
• Net cashflow: $5,403

Break-even live

Break-even rent $11,102

Max offer price $1,325,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 12× units	3	1.5	$17,940
Total (12 units)			$17,941

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: $331,250
• Closing costs: $39,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 SW 3rd Ter Mulberry, FL	3.0	1.0	700	$1,100	$1.57	3d	1	0.02mi
181 Diesel Rd Mulberry, FL	2.0	1.5	1300	$1,375	$1.06	23d	1	0.29mi
807 NW 1st Ave Mulberry, FL	2.0	1.0	832	$1,675	$2.01	14d	1	0.60mi
609 NE 11th Ave Mulberry, FL	3.0	2.0	1369	$2,000	$1.46	23d	1	0.95mi
177 Lakeview Dr Mulberry, FL	1.0	1.5	864	$1,100	$1.27	14d	1	1.48mi

Listing history 31 events

1. 2026-05-18
   price $1,325,000
2. 2026-05-11
   price $1,350,000
3. 2026-04-28
   price $1,199,999
4. 2026-04-28
   price $1,999,999
5. 2026-04-22
   price $1,250,000
6. 2026-04-20
   price $1,275,000
7. 2026-04-16
   price $1,300,000
8. 2026-04-15
   price $1,375,000
9. 2026-03-24
   price $1,399,999
10. 2026-03-20
    price $1,409,999
11. 2026-03-12
    price $1,499,999
12. 2026-03-01
    price $1,599,999
13. 2026-02-26
    listed $1,100
14. 2026-02-25
    price $1,649,999
15. 2026-01-05
    listed $1,700,000 Active
16. 2024-09-30
    historical $1,100
17. 2024-09-26
    price $1,100
18. 2024-09-13
    price $1,150
19. 2024-09-10
    historical $1,200
20. 2024-09-10
    listed $1,200
21. 2024-09-05
    listed $1,200
22. 2024-09-05
    historical $1,200
23. 2024-07-19
    listed $1,200
24. 2020-12-11
    soldstatus $625,000
25. 2020-11-26
    soldstatus $625,000 Sold 240-char remark

    Show marketing remark (240 chars)

    Take a look at this income producing property. 12 total units /six buildings. This property includes a large extra lot with potential to add another property. Property is usually 100% occupied. There is room for increased rents . Call today

26. 2020-10-22
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Take a look at this income producing property. 12 total units /six buildings. This property includes a large extra lot with potential to add another property. Property is usually 100% occupied. There is room for increased rents . Call today

27. 2020-10-20
    status Active 240-char remark

    Show marketing remark (240 chars)

    Take a look at this income producing property. 12 total units /six buildings. This property includes a large extra lot with potential to add another property. Property is usually 100% occupied. There is room for increased rents . Call today

28. 2020-10-14
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Take a look at this income producing property. 12 total units /six buildings. This property includes a large extra lot with potential to add another property. Property is usually 100% occupied. There is room for increased rents . Call today

29. 2020-10-01
    listed $650,000 Active 240-char remark

    Show marketing remark (240 chars)

    Take a look at this income producing property. 12 total units /six buildings. This property includes a large extra lot with potential to add another property. Property is usually 100% occupied. There is room for increased rents . Call today

30. 2005-06-08
    soldstatus $405,000
31. 2005-02-09
    soldstatus $192,000

ⓘ 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: $15,236 · $1,270/mo
• Projected year-2 tax: $15,236 · $1,270/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 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $215,292
• − Mortgage interest: −$74,221
• − Property taxes: −$15,236
• − Insurance: −$6,625
• − Repairs & maintenance: −$17,223
• − Management: −$17,223
• − Depreciation: −$38,545
• Taxable income: $46,218
• Est. tax owed @ 24.0%: −$11,092
• After-tax cash flow: $53,746/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 — Mulberry

• Score: 73/100
• State rank: #311
• US rank: #5311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mulberry, FL
• County: Polk County · 740,051 people
• City population: 24,892
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 24,892
• Household income: $65,710
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 583.0

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 0.60)
• Race & ethnicity: White 53% Hispanic / Latino 33% Two or more races 12% Black 10% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 7% Cuban 2%
• Common ancestry: Lithuanian 2% Romanian 1% Slovak 1%
• Foreign-born: 15% · Canada
• Languages at home: 70% English-only · Spanish 28% 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: ▼ -101.08%
• Current HPI: 349.7266
• Rent YoY: ▲ 1.59%
• 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

+590.1% since first listed

31 events — show timeline

• 2026-05-18 Price Changed $1,325,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $1,350,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $1,199,999 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $1,999,999 Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $1,250,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $1,275,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $1,300,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $1,375,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-24 Price Changed $1,399,999 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $1,409,999 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $1,499,999 Stellar MLS as Distributed by MLS Grid
• 2026-03-01 Price Changed $1,599,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Listed for Rent $1,100 APPFOLIO
• 2026-02-25 Price Changed $1,649,999 Stellar MLS as Distributed by MLS Grid
• 2026-01-05 Listed $1,700,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-30 Rental Removed $1,100 APPFOLIO
• 2024-09-26 Price Changed $1,100 APPFOLIO
• 2024-09-13 Price Changed $1,150 APPFOLIO
• 2024-09-10 Rental Removed $1,200 RENTALBEAST
• 2024-09-10 Listed for Rent $1,200 APPFOLIO
• 2024-09-05 Listed for Rent $1,200 RENTALBEAST
• 2024-09-05 Rental Removed $1,200 RENTEC
• 2024-07-19 Listed for Rent $1,200 RENTEC
• 2020-12-11 Sold (Public Records) $625,000 Public Records
• 2020-11-26 Sold (MLS) $625,000 Stellar MLS as Distributed by MLS Grid
• 2020-10-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-10-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2020-10-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-10-01 Listed $650,000 Stellar MLS as Distributed by MLS Grid
• 2005-06-08 Sold (Public Records) $405,000 Public Records
• 2005-02-09 Sold (Public Records) $192,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $15,236 · +22.8% YoY. Source: county tax records.