225 La Casa · Highland Park, FL 33898

$119,000

2 bd · 2.0 ba · 954 sqft · Condo public records · 37 Days on market

Built 1975

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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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• 1% rule +7.4/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Built in 1975 and located in a maintained community with HOA conveniences, this condo is ideal for first-time buyers, downsizers, or anyone looking for easy, low-maintenance living. Come check out this newly updated 2-bedroom, 2-bath condo offering comfort, functionality, and low-maintenance living. With 954 sq ft of thoughtfully designed space, this home features a bright and open layout with neutral tones and abundant natural light ready for you to make it your own. The spacious living and dining areas flow seamlessly into the kitchen, providing a great foundation for both everyday living and entertaining. The kitchen offers ample cabinet space and a clean, practical layout. Both bedrooms

Key facts

• Built 1975
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#513 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F, health & safety D-.
• 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: 500 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• This rent runs 31% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k 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 37 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.
• 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 $115,430 (3.0% 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 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 1.24% ✓
• Cap rate: 4.75%
• Cash-on-cash: -5.52%
• DSCR: 0.75
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -25.3%
• Equity multiple: 0.14×
• Total profit: $-28,720
• Equity at exit: $17,743

10-year hold

• IRR: -20.4%
• Equity multiple: -0.09×
• Total profit: $-36,252
• Equity at exit: $10,289

Cash invested: $33,320 (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 33898

• Home prices YoY: -15.1%
• Active inventory: 500
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$70 /mo · $839/yr
• Insurance: −$50
• HOA est. from 2 same-building comps: −$576
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-153

Break-even live

Break-even rent $1,670

Max offer price $91,915

Occupancy floor —

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 S Scenic Hwy Lake Wales, FL	1.0	1.0	600	$1,500	$2.50	23d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $119,000 Active 37 DOM
2. 2026-06-17
   days on market $119,000 Active 36 DOM
3. 2026-06-16
   days on market $119,000 Active 35 DOM
4. 2026-06-15
   days on market $119,000 Active 34 DOM
5. 2026-06-13
   days on market $119,000 Active 32 DOM
6. 2026-06-10
   days on market $119,000 Active 29 DOM
7. 2026-06-09
   days on market $119,000 Active 28 DOM
8. 2026-06-08
   days on market $119,000 Active 27 DOM
9. 2026-06-07
   days on market $119,000 Active 26 DOM
10. 2026-06-05
    days on market $119,000 Active 23 DOM
11. 2026-06-03
    days on market $119,000 Active 21 DOM
12. 2026-06-01
    days on market $119,000 Active 20 DOM
13. 2026-05-31
    days on market $119,000 Active 19 DOM
14. 2026-05-12
    listed $119,000 Active
15. 2020-12-11
    soldstatus $85,000
16. 2018-08-16
    soldstatus $70,900
17. 2004-02-05
    soldstatus $54,000
18. 1999-04-21
    soldstatus $46,000
19. 1997-07-02
    soldstatus $42,500

ⓘ 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: $839 · $70/mo
• Projected year-2 tax: $988 · $82/mo
• Expected delta: +$149/yr (+$12/mo · 17.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $17,715
• − Mortgage interest: −$6,666
• − Property taxes: −$839
• − Insurance: −$595
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − HOA: −$6,912
• − Depreciation: −$3,462
• Taxable loss: −$3,593
• Est. tax savings @ 24.0%: +$862
• After-tax cash flow: $-977/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 — Highland Park

• Score: 68/100
• State rank: #513
• US rank: #9447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Polk County · 740,051 people
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 18,527
• Household income: $57,224
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 148.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 17% Two or more races 10% Black 6%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4% Cuban 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 81% English-only · Spanish 17% French/Haitian/Cajun 1% 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: ▼ -60.62%
• Current HPI: 340.6056
• Rent YoY: —
• 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

+180.0% since first listed

6 events — show timeline

• 2026-05-12 Listed $119,000 FSBO.com
• 2020-12-11 Sold (Public Records) $85,000 Public Records
• 2018-08-16 Sold (Public Records) $70,900 Public Records
• 2004-02-05 Sold (Public Records) $54,000 Public Records
• 1999-04-21 Sold (Public Records) $46,000 Public Records
• 1997-07-02 Sold (Public Records) $42,500 Public Records

Property tax history

+9.1%/yr

Latest (2025): $839 · +14.6% YoY. Source: county tax records.