3606 Lazy Lake Dr S · Crystal Lake, FL 33801

$239,999

3 bd · 2.0 ba · 1,728 sqft · Manufactured public records · 171 Days on market

Built 1996 6,000 sqft lot ↓ 44% since listing

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Why this score? — see what drove the D+ 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 +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +3.8/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Exceptional value! Lakefront home minutes from the Polk Parkway (3.25+- miles) on 1.5 lots. Open floor plan with split bedroom design. Amazing kitchen, open and bright with tons of cabinets! Two screen enclosed porches, one with lake view. Tankless gas hot water heater. Security system. New roof and tie downs updated to current FHA guidelines. Newer dock and seawall. Poured concrete surrounding the home. Circular drive with covered parking. Storage building 16x6.Huge walk-in closet (12x5) and much more. .. This home is a must see.

Key facts

• 6,000 sq ft lot
• 2 parking spots
• Pool

Property features AI

Finance

• Other: Property type: Residential (Manufactured Home); Lot approx. 0.14 acres (50 x 120); Zoning compatible; Living area and building area recorded in public records
• HOA & community: Association fee frequency listed as monthly; Pets allowed

Exterior

• Parking: Covered parking; 2-space carport
• Security: Owned security system
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured double-wide home; Model: Skyline; One story; Home faces south
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation; Built as a double wide manufactured home
• Exterior features: Deck; Enclosed patio/porch; Patio; Porch; Screened areas; Balcony; Exterior lighting; Shed and storage structure; Trees and landscaped yard; Asphalt road frontage; Lake access and lake view (Pelican Lake); Seawall or similar water improvement; On waterfront / lakefront

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Tankless water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Owned security system
• Interior features: Cathedral and vaulted ceilings; Ceiling fans; Split-bedroom layout; Blinds and window treatments; Inside utility room
• Laundry & utility: Laundry room inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $238 ($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 $210k (12.5% below list).
• Recommended offer: $210k (12.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#620 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools 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.
• Market conditions: Rents rising (+1.1%/yr); 253 active listings in the ZIP; 4 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 $2,101/mo this rent would consume 48% of the median local household income ($53k/yr) (locally 1291% 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 $2k of loan paydown is wiped out by about $7k 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 171 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $73k; list at $240k implies a 229% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,096 (12.5% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 0.88% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.05% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-27,899
• Equity at exit: $35,785

10-year hold

• IRR: -5.3%
• Equity multiple: 0.68×
• Total profit: $-21,205
• Equity at exit: $20,751

Cash invested: $67,200 (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 33801

• Home prices YoY: -15.9%
• Rents YoY: 1.1%
• Active inventory: 253
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,101 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$63 /mo · $760/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $238

Break-even live

Break-even rent $1,800

Max offer price $239,999

Occupancy floor 84%

Sensitivity live

Price	-10% $374	-5% $306	+0% $238	+5% $170	+10% $102
Rent	-10% $72	-5% $155	+0% $238	+5% $321	+10% $404
Rate	-1.0pp $359	-0.5pp $299	base $238	+0.5pp $176	+1.0pp $112

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Skyline Dr E Lakeland, FL	3.0	2.0	1260	$2,300	$1.83	3d	1	0.26mi
210 Josh Reynolds Rd Lakeland, FL	3.0	2.0	1543	$2,100	$1.36	15d	1	0.86mi
3521 Cindy Ln Lakeland, FL	4.0	2.0	2143	$2,300	$1.07	24d	1	1.25mi
1803 Venus St Lakeland, FL	3.0	2.0	1259	$1,645	$1.31	3d	1	1.46mi

Listing history 23 events

1. 2026-06-18
   days on market $239,999 Active 171 DOM
2. 2026-06-17
   days on market $239,999 Active 170 DOM
3. 2026-06-16
   days on market $239,999 Active 169 DOM
4. 2026-06-15
   days on market $239,999 Active 168 DOM
5. 2026-06-13
   days on market $239,999 Active 166 DOM
6. 2026-06-10
   days on market $239,999 Active 163 DOM
7. 2026-06-09
   days on market $239,999 Active 162 DOM
8. 2026-06-08
   days on market $239,999 Active 161 DOM
9. 2026-06-07
   days on market $239,999 Active 160 DOM
10. 2026-06-05
    pricedays on market $239,999 Active 157 DOM
11. 2026-06-03
    days on market $249,999 Active 155 DOM
12. 2026-06-01
    days on market $249,999 Active 154 DOM
13. 2026-05-31
    days on market $249,999 Active 153 DOM
14. 2026-03-23
    price $249,999
15. 2026-02-19
    price $265,000
16. 2025-12-29
    status Active
17. 2024-09-10
    price $275,000
18. 2024-09-10
    listed $225,000 Active
19. 2013-08-14
    soldstatus $73,000
20. 2013-07-29
    soldstatus $73,000 536-char remark

    Show marketing remark (536 chars)

    Exceptional value! Lakefront home minutes from the Polk Parkway (3.25+- miles) on 1.5 lots. Open floor plan with split bedroom design. Amazing kitchen, open and bright with tons of cabinets! Two screen enclosed porches, one with lake view. Tankless gas hot water heater. Security system. New roof and tie downs updated to current FHA guidelines. Newer dock and seawall. Poured concrete surrounding the home. Circular drive with covered parking. Storage building 16x6.Huge walk-in closet (12x5) and much more. .. This home is a must see.

21. 2013-05-28
    listed $77,900 536-char remark

    Show marketing remark (536 chars)

    Exceptional value! Lakefront home minutes from the Polk Parkway (3.25+- miles) on 1.5 lots. Open floor plan with split bedroom design. Amazing kitchen, open and bright with tons of cabinets! Two screen enclosed porches, one with lake view. Tankless gas hot water heater. Security system. New roof and tie downs updated to current FHA guidelines. Newer dock and seawall. Poured concrete surrounding the home. Circular drive with covered parking. Storage building 16x6.Huge walk-in closet (12x5) and much more. .. This home is a must see.

22. 1996-04-24
    soldstatus $20,000
23. 1995-12-29
    soldstatus $444,500

ⓘ 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: $760 · $63/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$1,232/yr (+$103/mo · 162.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,212
• − Mortgage interest: −$13,444
• − Property taxes: −$760
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$6,982
• Taxable loss: −$1,208
• Est. tax savings @ 24.0%: +$290
• After-tax cash flow: $3,144/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 — Crystal Lake

• Score: 66/100
• State rank: #620
• US rank: #12023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Polk County · 740,051 people
• City population: 33,460
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 35,394
• Household income: $53,061
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1291.0

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 60% Hispanic / Latino 19% Black 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Cuban 3%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 14% French/Haitian/Cajun 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: ▼ -70.91%
• Current HPI: 373.7159
• Rent YoY: ▲ 1.05%
• 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

-43.8% since first listed

10 events — show timeline

• 2026-03-23 Price Changed $249,999 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $265,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-29 Relisted — Stellar MLS as Distributed by MLS Grid
• 2024-09-10 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-10 Price Changed $275,000 Stellar MLS as Distributed by MLS Grid
• 2013-08-14 Sold (Public Records) $73,000 Public Records
• 2013-07-29 Sold (MLS) $73,000 Stellar MLS as Distributed by MLS Grid
• 2013-05-28 Listed $77,900 Stellar MLS as Distributed by MLS Grid
• 1996-04-24 Sold (Public Records) $20,000 Public Records
• 1995-12-29 Sold (Public Records) $444,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $760 · +18.5% YoY. Source: county tax records.