1007 Cassandra Ln · Lakeland, FL 33809

$69,000

3 bd · 2.0 ba · 1,081 sqft · Manufactured public records · 20 Days on market

Built 1983 4,748 sqft lot $292/mo HOA · 17% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the desirable 55+ community of Lakeside Hills Estates! This 3-bedroom, 2-bath mobile home features a spacious layout with potential for the right buyer to restore and make their own. The property is in need of significant repairs and updating, including flooring, roof, and interior ceiling repairs, and is priced accordingly. Enjoy the many amenities this active community has to offer, including cable, internet, water, grounds maintenance, clubhouse activities, pool, and waterfront docks perfect for fishing or relaxing. Boat slips may also be available. Conveniently located near shopping, dining, medical facilities, and major roadways, this property offers the chance to

Key facts

• Boat slips
• Waterfront docks
• Clubhouse activities

Tags

• WATERFRONT DOCKS
• BOAT SLIPS
• CLUBHOUSE ACTIVITIES

Property features AI

Finance

• Financial info: Total annual HOA fees $3,504
• HOA & community: Has HOA (monthly fee $292); Association fee includes cable TV, internet, pool, common area taxes, grounds maintenance and management; Community clubhouse and pool; Buyer approval required; Deed restrictions and other community restrictions; Golf carts allowed; Sidewalks and street lights; Senior community; Pets allowed

Exterior

• Parking: Has carport; 1 carport space
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured home (double wide); One level; Faces south
• Construction: Vinyl siding and frame construction; Metal roof; Crawlspace foundation; Built as a manufactured double wide
• Exterior features: Covered patio; Patio; Side porch; Sidewalk

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room and dining room combo; Other
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#206 in FL, #3,179 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, 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 flat; 259 active listings in the ZIP; 21 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k 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 + 0.7% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,965 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.48% ✓
• Cap rate: 15.40%
• Cash-on-cash: 32.54%
• DSCR: 2.45
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.65% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 1.96×
• Total profit: $18,482
• Equity at exit: $10,288

10-year hold

• IRR: 30.0%
• Equity multiple: 3.31×
• Total profit: $44,588
• Equity at exit: $5,966

Cash invested: $19,320 (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 33809

• Home prices YoY: -20.9%
• Rents YoY: 0.7%
• Active inventory: 259
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$362
• Tax from tax record: −$143 /mo · $1,716/yr
• Insurance: −$29
• HOA: −$292
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $524

Break-even live

Break-even rent $1,045

Max offer price $69,000

Occupancy floor 64%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5233 US Highway 98 N Lakeland, FL	1.0–2.0	1.0–2.0	794	$1,505	$1.89	2d	15	0.41mi
1567 Longbow Dr Lakeland, FL	2.0	1.5	864	$1,195	$1.38	2d	1	0.45mi
5227 Grace St E Lakeland, FL	3.0	2.0	1062	$1,775	$1.67	23d	1	0.46mi
4355 Corporate Ave Lakeland, FL	2.0	2.0	872	$1,531	$1.76	10d	1	0.49mi
1510 Galloway Oaks Dr Lakeland, FL	2.0–3.0	2.0	1066	$1,699	$1.59	21d	8	0.54mi
733 Carpenters Way #37 Lakeland, FL	2.0	1.5	1307	$1,400	$1.07	19d	1	0.68mi
4500 Williamstown Blvd Lakeland, FL	3.0	1.0–2.0	1062	$1,833	$1.73	23d	1	0.74mi
1545 Kennedy Blvd Lakeland, FL	1.0–3.0	1.0–2.0	997	$1,992	$2.00	2d	24	0.76mi
4240 Summer Landing Dr #106 Lakeland, FL	3.0	2.0	1038	$1,700	$1.64	23d	1	0.77mi
4240 Summer Landing Dr Lakeland, FL	2.0–3.0	2.0	1083	$1,700	$1.57	13d	2	0.77mi
3939 Golf Village Loop Lakeland, FL	2.0	1.0–2.0	878	$1,619	$1.84	3d	6	0.92mi
141 Fernery Rd Unit D1 Lakeland, FL	2.0	1.0	840	$1,160	$1.38	21d	1	1.04mi
6120 Burnett St Lakeland, FL	1.0–3.0	1.0–2.0	1002	$2,312	$2.31	3d	21	1.19mi
909 Shirley Ann Trl Lakeland, FL	2.0	2.0	950	$1,460	$1.54	23d	1	1.22mi
6031 Crafton Dr Lakeland, FL	2.0	1.0	914	$1,125	$1.23	13d	1	1.27mi
6032 Norton Rd Unit 6032 Lakeland, FL	2.0	2.0	880	$1,295	$1.47	23d	1	1.27mi
5818 Bambi Dr Lakeland, FL	3.0	2.0	1401	$2,200	$1.57	23d	1	1.31mi
6131 Doe Cir E Lakeland, FL	3.0	2.0	1353	$1,700	$1.26	14d	1	1.34mi
206 Mary Catherine Ct Lakeland, FL	3.0	2.0	1254	$1,725	$1.38	23d	1	1.40mi
3685 Victoria Manor Dr Lakeland, FL	3.0	1.0–2.0	1154	$1,625	$1.41	3d	17	1.46mi
165 Shannon Dr Lakeland, FL	2.0	2.0	1008	$1,350	$1.34	3d	1	1.46mi

HOA detail

• Monthly dues: $292 · $3,504/yr
• Likely covers: waterinternetcablelandscapingpool

Listing history 14 events

1. 2026-06-18
   days on market $69,000 Active 20 DOM
2. 2026-06-17
   days on market $69,000 Active 19 DOM
3. 2026-06-16
   pricedays on market $69,000 Active 18 DOM
4. 2026-06-15
   days on market $79,000 Active 17 DOM
5. 2026-06-13
   days on market $79,000 Active 15 DOM
6. 2026-06-10
   days on market $79,000 Active 12 DOM
7. 2026-06-09
   days on market $79,000 Active 11 DOM
8. 2026-06-08
   days on market $79,000 Active 10 DOM
9. 2026-06-07
   days on market $79,000 Active 9 DOM
10. 2026-06-05
    days on market $79,000 Active 6 DOM
11. 2026-06-03
    days on market $79,000 Active 5 DOM
12. 2026-06-03
    days on market $79,000 Active 4 DOM
13. 2026-06-01
    days on market $79,000 Active 3 DOM
14. 2026-05-31
    days on market $79,000 Active 2 DOM

ⓘ 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: $1,716 · $143/mo
• Projected year-2 tax: $1,716 · $143/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 9/10 Extreme 7 d/yr ≥108°F today · 25 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,500
• − Mortgage interest: −$3,865
• − Property taxes: −$1,716
• − Insurance: −$345
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − HOA: −$3,504
• − Depreciation: −$2,007
• Taxable income: $5,782
• Est. tax owed @ 24.0%: −$1,388
• After-tax cash flow: $4,900/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 — Lakeland

• Score: 77/100
• State rank: #206
• US rank: #3179

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakeland, FL
• County: Polk County · 740,051 people
• City population: 277,690
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 30,797
• Household income: $70,066
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 924.0

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 0.55)
• Race & ethnicity: White 63% Hispanic / Latino 18% Black 11% Two or more races 11% Asian 3%
• Hispanic origin (detail): Puerto Rican 9% Cuban 1% Dominican 2%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 15% Other Asian/Pacific 2% 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: ▼ -79.46%
• Current HPI: 301.3054
• Rent YoY: ▲ 0.65%
• 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

1 event — show timeline

• 2026-05-29 Listed $79,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+25.8%/yr

Latest (2025): $1,716 · +23.3% YoY. Source: county tax records.