210 S Orange Ave

Bartow, FL 33830

$1,850,000D

30 bd · 20.0 ba · 1,976 sqft · Built 2000 · MultiFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $15,880/mo
• Mortgage (P&I): −$9,702
• Tax + insurance: −$2,573
• HOA: −$0
• Vac / Maint / Mgmt: −$3,335
• Net cashflow: $270/mo
• Annual: $3,245/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.86%
• Cash to close: $518,000

Investor read

• This is a 6×3bd/2.0ba + 4×2bd/2.0ba units multifamily listed at $1.85M.
• At list price, monthly cash flow is $270 ($3k/yr) — positive. Per door: $27/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.59M (14.2% below list).
• It's been on market 62 days — a 6% lower offer ($1.74M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.59M (14.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $13k of loan paydown is wiped out by about $56k 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.
• Zoned schools: Floral Avenue Elementary School (math 36% / reading 38%, grade F, #1,609 of 2,144 statewide, top 77%, 611 students, 56% FRL); Bartow Middle School (math 33% / reading 36%, grade F, #421 of 571 statewide, top 74%, 1,046 students, 63% FRL); Bartow Senior High School (math 26% / reading 46%, grade F, #359 of 667 statewide, top 55%, 2,125 students, 44% FRL).
• Market conditions: Rents rising (+2.7%/yr); 392 active listings in the ZIP; 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.
• 2 sale attempts since 5y 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 $1.00M; list at $1.85M implies a 85% gain — meaningful room to come down on a strong offer.
• 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.
• At $15,880/mo this rent would consume 298% of the median local household income ($64k/yr) (locally 681% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.