1120 Citrus Grove Dr

Bartow, FL 33830

$329,348F

4 bd · 2.0 ba · 1,713 sqft · Built 2025 · Land · Pending · 239 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,171/mo
• Mortgage (P&I): −$1,727
• Tax + insurance: −$549
• HOA: −$58
• Vac / Maint / Mgmt: −$456
• Net cashflow: $-619/mo
• Annual: $-7,426/yr
• Cap rate: 4.04%
• Cash-on-cash: -8.05%
• DSCR: 0.64
• 1% rule: 0.66%
• Cash to close: $92,217

Investor read

• This is a 4-bed/2.0-bath land listed at $329k.
• At list price, monthly cash flow is $-619 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (27.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (34.1% below list).
• It's been on market 239 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $217k (34.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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: Eagle Lake Elementary School (math 49% / reading 40%, grade F, #1,288 of 2,144 statewide, top 62%, 697 students, 59% 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); 386 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).
• Polk County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 41% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 239 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.