806 Hillside Ave · Lake Wales, FL 33853

$199,000

3 bd · 2.0 ba · 1,353 sqft · SingleFamily public records · 160 Days on market

Built 1979 10,097 sqft lot

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Why this score? — see what drove the C- 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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.1/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks! This 3-bedroom, 2-bath home at 806 Hillside Ave, Lake Wales sits on a spacious 0.23-acre lot with no HOA, offering flexibility and room to grow. The property does need updates and repairs, making it ideal for buyers looking to add value and make it their own or for investors searching for their next project. The home features a functional layout and is conveniently located near the park, lake, and public boat ramp, perfect for enjoying outdoor activities and the Florida lifestyle. With its large lot, great location, and strong potential, this property is a fantastic opportunity to create something special in Lake Wales.

Key facts

• Spacious lot
• Functional layout
• No hoa

Tags

• SPACIOUS LOT
• NO HOA
• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED
• NEAR PARK
• NEAR LAKE

Property features AI

Finance

• Other: Lot approximately 0.23 acres (80 x 125); Living area reported as 1,353 sq ft; Building area reported as 2,147 sq ft; Total acreage: less than 1/4 acre; Zoning: R-1A; Universal property ID available
• Financial info: No lease restrictions; Homestead exempt
• HOA & community: No HOA association indicated

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Broadband/high-speed internet available; Water connected; Sewer connected
• Home design: Single family residence; Residential property; One story; Faces north; Entry level: One
• Construction: Brick construction; Shingle roof; Built on slab foundation; Built 1 story
• Exterior features: Balcony; Asphalt road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile; Slab foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $267 ($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 $181k (9.1% below list).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#535 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools 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.
• Market conditions: 182 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $6k 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 160 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $199k implies a 109% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 9.2

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-15,348
• Equity at exit: $29,672

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $8,108
• Equity at exit: $17,206

Cash invested: $55,720 (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 33853

• Home prices YoY: -9.2%
• Active inventory: 182
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,809 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$36 /mo · $430/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $267

Break-even live

Break-even rent $1,471

Max offer price $199,000

Occupancy floor 80%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
766 Hunt Dr Lake Wales, FL	3.0	2.0	1214	$2,300	$1.89	23d	1	0.10mi
711 Springer Dr Lake Wales, FL	1.0–2.0	1.0–2.0	848	$1,400	$1.65	3d	2	0.24mi
711 Springer Dr #3 Lake Wales, FL	2.0	2.0	972	$1,400	$1.44	23d	1	0.25mi
926 Chelsea Way Lake Wales, FL	3.0	2.0	1667	$1,900	$1.14	23d	1	0.42mi
1427 Chamberlain Loop Lake Wales, FL	3.0	2.0	1492	$1,775	$1.19	23d	1	0.65mi
444 E Tillman Ave Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	14d	1	0.85mi
444 E Tillman Ave Unit 5 Lake Wales, FL	2.0	1.0	892	$1,100	$1.23	23d	1	0.85mi
403 E Johnson Ave Lake Wales, FL	3.0	2.0	1196	$1,650	$1.38	23d	1	0.93mi
244 E Park Ave Unit 201 Lake Wales, FL	2.0	2.5	1119	$1,850	$1.65	23d	1	0.96mi
724 Euclid Ave Lake Wales, FL	4.0	2.0	1676	$1,695	$1.01	23d	1	1.17mi
307 Steedly Ave Lake Wales, FL	3.0	1.0	1335	$1,895	$1.42	2d	1	1.23mi
133 W Park Ave Unit B Lake Wales, FL	3.0	2.0	1151	$1,600	$1.39	23d	1	1.27mi
1438 Thousand Roses Dr S Lake Wales, FL	2.0	2.0	962	$1,150	$1.20	23d	1	1.32mi
609 Washington Ave Lake Wales, FL	3.0	2.0	1392	$1,549	$1.11	13d	1	1.43mi
2378 Sunset Pointe Dr Lake Wales, FL	3.0	2.0	1452	$1,695	$1.17	23d	1	1.43mi
425 F St Unit 2 Lake Wales, FL	3.0	2.0	977	$1,195	$1.22	13d	1	1.49mi

Listing history 7 events

1. 2026-06-03
   days on market $199,000 Active 160 DOM
2. 2026-06-01
   days on market $199,000 Active 159 DOM
3. 2026-05-31
   days on market $199,000 Active 158 DOM
4. 2026-03-26
   price $199,000
5. 2025-12-24
   listed $220,000 Active
6. 2004-01-26
   soldstatus $95,000
7. 1998-04-10
   soldstatus $66,000

ⓘ 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: $430 · $36/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$1,222/yr (+$102/mo · 284.5%)

ⓘ 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 · 24 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: $21,710
• − Mortgage interest: −$11,147
• − Property taxes: −$430
• − Insurance: −$995
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − Depreciation: −$5,789
• Taxable loss: −$124
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $3,233/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 — Lake Wales

• Score: 68/100
• State rank: #535
• US rank: #10036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Wales, FL
• City population: 30,351
• Population (ZIP): 12,385

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 42% Hispanic / Latino 36% Black 19% Two or more races 16%
• Hispanic origin (detail): Mexican 10% Puerto Rican 18% Cuban 2% Dominican 1%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 72% English-only · Spanish 27%

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: ▼ -33.98%
• Current HPI: 333.8292
• Rent YoY: —
• Metro: —
• 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

+201.5% since first listed

4 events — show timeline

• 2026-03-26 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-24 Listed $220,000 Stellar MLS as Distributed by MLS Grid
• 2004-01-26 Sold (Public Records) $95,000 Public Records
• 1998-04-10 Sold (Public Records) $66,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $430 · +10.1% YoY. Source: county tax records.