2055 S Floral Ave #40

Bartow, FL 33830

$154,900D+

2 bd · 2.0 ba · 1,144 sqft · Built 1984 · Manufactured · Pending · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,573/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$172
• HOA: −$105
• Vac / Maint / Mgmt: −$330
• Net cashflow: $154/mo
• Annual: $1,848/yr
• Cap rate: 7.49%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• 1% rule: 1.02%
• Cash to close: $43,372

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $155k.
• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• It's been on market 136 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 68/100 on livability (#526 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D-, amenities 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 (+2.7%/yr); 386 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $18k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $155k implies a 72% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 5→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.