2786 Adeline Ave

Winter Haven, FL 33881

$289,900F

4 bd · 2.0 ba · 1,498 sqft · Built 2026 · Land · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,141/mo
• Mortgage (P&I): −$1,520
• Tax + insurance: −$483
• HOA: −$8
• Vac / Maint / Mgmt: −$450
• Net cashflow: $-320/mo
• Annual: $-3,844/yr
• Cap rate: 4.97%
• Cash-on-cash: -4.74%
• DSCR: 0.79
• 1% rule: 0.74%
• Cash to close: $81,172

Investor read

• This is a 4-bed/2.0-bath land listed at $290k.
• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (26.2% below list).
• It's been on market 95 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $214k (26.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#291 in FL, #4,898 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, 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.
• Zoned schools: Elbert Elementary School (math 35% / reading 37%, grade F, #1,670 of 2,144 statewide, top 78%, 601 students, 62% FRL); Denison Middle School (math 24% / reading 25%, grade F, #522 of 571 statewide, top 93%, 738 students, 69% FRL); Winter Haven Senior High School (math 26% / reading 38%, grade F, #415 of 667 statewide, top 63%, 2,467 students, 50% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 495 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $2,141/mo this rent would consume 45% of the median local household income ($57k/yr) (locally 1270% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 95 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.