3324 Royal Oak Dr W · Fuller Heights, FL 33860

$148,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 11 Days on market

Built 1998 0.25 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 +9.9/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD Property sold "as-is", Information from sources deemed reliable but not guaranteed. Buyer to verify all information. To show use HUD master key. Case#093-573919 EVIDENCE OF MOLD, NO REMEDIATION DONE.

Key facts

• 0.25 acre lot
• Built 1998
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $148k.

Deal economics

• At list price, monthly cash flow is $718 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).

Location & tenants

• Location reads 63/100 on livability (#720 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: schools F, 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• This rent runs 40% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $58k; list at $148k implies a 155% 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; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.49% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.79%
• DSCR: 1.92
• GRM: 5.6

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: 11.6%
• Equity multiple: 1.45×
• Total profit: $18,685
• Equity at exit: $22,067

10-year hold

• IRR: 19.4%
• Equity multiple: 2.52×
• Total profit: $62,965
• Equity at exit: $12,796

Cash invested: $41,440 (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 33860

• Home prices YoY: -22.4%
• Rents YoY: 1.6%
• Active inventory: 180
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,208 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$189 /mo · $2,267/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $718

Break-even live

Break-even rent $1,300

Max offer price $148,000

Occupancy floor 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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2937 Coach Lamp Rd Mulberry, FL	3.0	2.0	1454	$2,135	$1.47	3d	1	0.48mi
3487 Imperial Manor Way Mulberry, FL	4.0	2.0	1813	$2,346	$1.29	3d	1	0.69mi
3439 Imperial Manor Way Mulberry, FL	3.0	2.0	1286	$1,960	$1.52	14d	1	0.78mi
4250 Creekwood Ln Mulberry, FL	3.0	3.0	2040	$2,400	$1.18	23d	1	1.42mi

Listing history 7 events

1. 2024-02-14
   status Pending
2. 2024-02-03
   listed $148,000 Active
3. 2014-09-17
   soldstatus $58,100
4. 2006-08-11
   soldstatus $71,800 213-char remark

   Show marketing remark (213 chars)

   HUD Property sold "as-is", Information from sources deemed reliable but not guaranteed. Buyer to verify all information. To show use HUD master key. Case#093-573919 EVIDENCE OF MOLD, NO REMEDIATION DONE.

5. 2006-05-19
   listed $78,000 213-char remark

   Show marketing remark (213 chars)

   HUD Property sold "as-is", Information from sources deemed reliable but not guaranteed. Buyer to verify all information. To show use HUD master key. Case#093-573919 EVIDENCE OF MOLD, NO REMEDIATION DONE.

6. 1996-10-30
   soldstatus $12,000
7. 1986-10-01
   soldstatus $12,000

ⓘ 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: $2,267 · $189/mo
• Projected year-2 tax: $2,267 · $189/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 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: $26,499
• − Mortgage interest: −$8,290
• − Property taxes: −$2,267
• − Insurance: −$740
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − Depreciation: −$4,305
• Taxable income: $6,657
• Est. tax owed @ 24.0%: −$1,598
• After-tax cash flow: $7,017/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 — Fuller Heights

• Score: 63/100
• State rank: #720
• US rank: #15426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fuller Heights, FL
• County: Polk County · 740,051 people
• 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

+1133.3% since first listed

7 events — show timeline

• 2024-02-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-02-03 Listed $148,000 Stellar MLS as Distributed by MLS Grid
• 2014-09-17 Sold (Public Records) $58,100 Public Records
• 2006-08-11 Sold (MLS) $71,800 Stellar MLS as Distributed by MLS Grid
• 2006-05-19 Listed $78,000 Stellar MLS as Distributed by MLS Grid
• 1996-10-30 Sold (Public Records) $12,000 Public Records
• 1986-10-01 Sold (Public Records) $12,000 Public Records

Property tax history

+12.6%/yr

Latest (2025): $2,267 · +7.6% YoY. Source: county tax records.