2037 San Marcos Dr SE #217 · Winter Haven, FL 33880

$109,000

2 bd · 2.0 ba · 826 sqft · Condo public records · 401 Days on market

Built 1984 $400/mo HOA · 28% of rent

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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 +11.0/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• DSCR +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

condo

Key facts

• Wet bar
• Water heater
• Ceiling fans

Tags

• LUXURY VINYL FLOORING
• GAS RANGE
• WATER HEATER
• CEILING FANS
• PRIVATE LAUNDRY CLOSET
• WET BAR

Property features AI

Finance

• Other: Total monthly fees $400; total annual fees $4,800
• HOA & community: Monthly condo/association fee of $400 (includes insurance, structure maintenance, grounds maintenance, and trash); Association name: Cynthia Paul Morales CMH Management; Association fees are required and paid monthly; Community mailbox; Deed restrictions; Pets allowed with limits (number limit, max pet weight ~25 lbs)

Exterior

• Parking: Paved road access
• Utilities: Public water; Public sewer; Cable available; High-speed internet available; Electricity connected
• Home design: Condominium; Residential property; Second-floor unit (floor 2); Faces north; One level living within the unit; Building has 4 stories
• Construction: Stucco construction; Shingle roof; Slab foundation; Built as part of building number 2037
• Exterior features: Sidewalks; Trees/landscaped

Interior

• Kitchen: Disposal; Microwave; Range; Refrigerator; Freezer; Gas water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Walk-in closet(s); Wet bar; Elevator in building; Inside utility
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $-46 ($-556/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (7.5% below list).
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.

Location & tenants

• 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: John Snively Elementary (math 42% / reading 42%, grade F, #1,403 of 2,144 statewide, top 67%, 399 students, 72% 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 64% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 345 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k 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 401 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $35k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $109k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 401 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.47% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-21,088
• Equity at exit: $16,252

10-year hold

• IRR: -14.0%
• Equity multiple: 0.21×
• Total profit: $-24,094
• Equity at exit: $9,424

Cash invested: $30,520 (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 33880

• Home prices YoY: -16.2%
• Rents YoY: 2.5%
• Active inventory: 345
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$572
• Tax from tax record: −$138 /mo · $1,657/yr
• Insurance: −$45
• HOA: −$400
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $-46

Break-even live

Break-even rent $1,462

Max offer price $100,820

Occupancy floor 98%

Sensitivity live

Price	-10% $15	-5% $-15	+0% $-46	+5% $-77	+10% $-108
Rent	-10% $-157	-5% $-102	+0% $-46	+5% $9	+10% $65
Rate	-1.0pp $9	-0.5pp $-19	base $-46	+0.5pp $-75	+1.0pp $-103

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2025 San Marcos Dr SE #27 Winter Haven, FL	1.0	1.0	792	$1,200	$1.52	16d	1	0.03mi
2001 San Marcos Dr SE #11 Winter Haven, FL	2.0	2.0	960	$1,325	$1.38	16d	1	0.06mi
2085 Isle Royale Ct SE #189 Winter Haven, FL	1.0	1.0	648	$1,150	$1.77	5d	1	0.10mi
1800 3rd Ct SE Winter Haven, FL	2.0	1.0	714	$1,400	$1.96	25d	1	0.17mi
1800 3rd Ct SE Apt E Winter Haven, FL	2.0	1.5	714	$1,400	$1.96	25d	1	0.17mi
200 Avenue K SE Winter Haven, FL	1.0–3.0	1.0–2.0	1095	$1,442	$1.32	4d	45	0.54mi
1150 3rd St SW Winter Haven, FL	1.0–2.0	1.0–2.0	587	$1,750	$2.98	23d	12	0.60mi
1209 6th St SE Apt 3 Winter Haven, FL	1.0	1.0	538	$925	$1.72	16d	1	0.66mi
403 Avenue J SE Winter Haven, FL	2.0	1.0	1000	$1,550	$1.55	25d	1	0.75mi
513 Avenue J SE Winter Haven, FL	2.0	1.0	875	$1,350	$1.54	16d	1	0.83mi
955 6th St SE #10 Winter Haven, FL	1.0	1.0	650	$1,145	$1.76	25d	1	0.84mi
955 6th St SE #9 Winter Haven, FL	1.0	1.0	550	$1,175	$2.14	5d	1	0.84mi
955 6th St SE #1 Winter Haven, FL	1.0	1.0	550	$1,075	$1.95	25d	1	0.84mi
955 6th St SE #5 Winter Haven, FL	1.0	1.0	550	$1,190	$2.16	25d	1	0.84mi
547 Snively Ave Eloise, FL	2.0	1.0	1100	$600	$0.55	25d	1	0.87mi
534 Avenue H SE Winter Haven, FL	1.0	1.0	555	$875	$1.58	5d	1	0.91mi
900 Ave Z SE Apt C6 Winter Haven, FL	2.0	1.0	840	$1,300	$1.55	25d	1	0.93mi
601 2nd St SE Winter Haven, FL	3.0	1.0	1072	$1,195	$1.11	5d	1	0.95mi
1103 Cypress Gardens Blvd Winter Haven, FL	1.0	1.0	575	$1,125	$1.96	5d	2	1.01mi
609 Avenue G SE Winter Haven, FL	2.0	1.0	875	$1,399	$1.60	25d	1	1.03mi
611 Avenue G SE Winter Haven, FL	2.0	1.0	875	$1,299	$1.48	5d	1	1.04mi
106 Avenue D SW Winter Haven, FL	2.0	1.0	920	$1,600	$1.74	5d	1	1.07mi
265 East St Winter Haven, FL	2.0	1.0–2.0	757	$2,250	$2.97	4d	41	1.07mi
332 Avenue D SE Winter Haven, FL	2.0	2.0	1090	$1,800	$1.65	5d	1	1.08mi
200 Avenue C SW Winter Haven, FL	1.0–2.0	1.0–2.0	851	$1,950	$2.29	5d	12	1.15mi
151 Avenue C SW Winter Haven, FL	2.0	1.0	819	$1,300	$1.59	25d	1	1.17mi
1304 15th St SW Winter Haven, FL	3.0	1.0	900	$1,750	$1.94	25d	1	1.18mi
1300 S Lake Howard Dr Winter Haven, FL	1.0–3.0	1.5–2.0	1464	$1,788	$1.22	12d	20	1.21mi
240 2nd St SW Apt 105 Winter Haven, FL	1.0	1.0	778	$1,399	$1.80	25d	1	1.27mi
209 Avenue B SE Winter Haven, FL	2.0	1.0	720	$1,500	$2.08	16d	1	1.28mi
301 Avenue B SW Unit 4 Winter Haven, FL	1.0	1.0	600	$1,000	$1.67	25d	1	1.30mi
710 Avenue C SW Unit 4A Winter Haven, FL	1.0	1.0	680	$1,150	$1.69	25d	1	1.30mi
163 Avenue A SE Winter Haven, FL	2.0	1.5	854	$1,250	$1.46	25d	1	1.33mi
701 Bates Ave SW Unit 203 Winter Haven, FL	3.0	2.0	1100	$1,700	$1.55	4d	1	1.35mi
701 Bates Ave SW Unit 101 Winter Haven, FL	3.0	1.0	1000	$1,600	$1.60	25d	1	1.35mi
701 Bates Ave SW Unit 102 Winter Haven, FL	3.0	2.0	1100	$1,700	$1.55	25d	1	1.35mi
103 4th St SE Unit A Winter Haven, FL	2.0	1.0	1014	$1,399	$1.38	5d	1	1.35mi
407 Avenue A SE Winter Haven, FL	3.0	2.0	1124	$1,700	$1.51	25d	1	1.36mi
1860 Avenue Q SW Winter Haven, FL	2.0	1.5	995	$1,199	$1.21	21d	1	1.48mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-13
   remarks 679-char remark
2. 2026-06-13
   statusdays on market $109,000 Pending 401 DOM
3. 2026-06-10
   days on market $109,000 Active 399 DOM
4. 2026-06-09
   days on market $109,000 Active 398 DOM
5. 2026-06-08
   pricedays on market $109,000 Active 397 DOM
6. 2026-06-07
   days on market $115,000 Active 396 DOM
7. 2026-06-05
   days on market $115,000 Active 393 DOM
8. 2026-06-03
   days on market $115,000 Active 391 DOM
9. 2026-06-01
   days on market $115,000 Active 390 DOM
10. 2026-05-31
    days on market $115,000 Active 389 DOM
11. 2026-02-24
    price $115,000
12. 2025-08-06
    price $119,900
13. 2025-06-29
    status Active
14. 2025-06-29
    price $125,000
15. 2025-03-26
    price $139,900
16. 2025-03-13
    listed $144,000 Active
17. 2013-10-23
    soldstatus $40,500
18. 2013-09-03
    soldstatus $40,500 5-char remark

    Show marketing remark (5 chars)

    condo

19. 2012-11-29
    listed $43,500 5-char remark

    Show marketing remark (5 chars)

    condo

ⓘ 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: $1,657 · $138/mo
• Projected year-2 tax: $1,657 · $138/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 4/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,843
• − Mortgage interest: −$6,106
• − Property taxes: −$1,657
• − Insurance: −$545
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − HOA: −$4,800
• − Depreciation: −$3,171
• Taxable loss: −$2,131
• Est. tax savings @ 24.0%: +$511
• After-tax cash flow: $-44/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 — Winter Haven

• Score: 74/100
• State rank: #291
• US rank: #4898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winter Haven, FL
• County: Polk County · 740,051 people
• City population: 121,740
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 43,371
• Household income: $56,390
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1412.0

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 0.65)
• Race & ethnicity: White 49% Hispanic / Latino 27% Black 17% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 10% Cuban 2%
• Common ancestry: Hispanic 2% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% French/Haitian/Cajun 4%

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: ▼ -61.41%
• Current HPI: 317.8788
• Rent YoY: ▲ 2.47%
• 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

+164.4% since first listed

9 events — show timeline

• 2026-02-24 Price Changed $115,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-06 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2025-06-29 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-06-29 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-26 Price Changed $139,900 Stellar MLS as Distributed by MLS Grid
• 2025-03-13 Listed $144,000 Stellar MLS as Distributed by MLS Grid
• 2013-10-23 Sold (Public Records) $40,500 Public Records
• 2013-09-03 Sold (MLS) $40,500 Stellar MLS as Distributed by MLS Grid
• 2012-11-29 Listed $43,500 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $1,657 · +2.8% YoY. Source: county tax records.