5850 Cypress Gardens Blvd #304 · Winter Haven, FL 33884

$139,000

2 bd · 2.0 ba · 1,332 sqft · Condo public records · 534 Days on market

Built 1975 $487/mo HOA · 27% 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 +12.4/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Immaculate furnished 2BR/1.5BA townhome across the street from LEGOLAND and short distance to grocery stores, shopping, dining, and gym. Features include gorgeous hardwood floors, spacious eat-in kitchen with custom cabinetry. Outside you will enjoy your very own private fenced patio as well as use of the community pool and tennis courts. HOA covers sewer, trash, and water.

Key facts

• Close to restaurants
• Close to schools
• Tennis court

Tags

• COMMUNITY POOL
• TENNIS COURT
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS
• CLOSE TO SCHOOLS

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Condo association (Royal Crescent Condo); Association approval required; Association amenities: Pool, Tennis courts, Common area maintenance and taxes, Recreational facilities; Condo/HOA fees approximately $487 monthly (about $5,844 annually)

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Phone available
• Home design: Residential townhouse; Two levels; West-facing entry
• Construction: Brick and concrete construction; Shingle roof; Slab foundation; Building/Unit number 304
• Exterior features: French doors; On-site tennis courts; Private in-ground pool

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heat; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $-23 ($-274/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (2.9% below list).
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (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: Chain of Lakes Elementary School (math 63% / reading 60%, grade B, #634 of 2,144 statewide, top 30%, 1,130 students, 37% FRL); Denison Middle School (math 24% / reading 25%, grade F, #522 of 571 statewide, top 93%, 738 students, 69% FRL); Lake Region High School (math 14% / reading 22%, grade F, #570 of 667 statewide, top 86%, 1,545 students, 61% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising (+1.9%/yr); 689 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/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 $961 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 534 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y ago; this cycle's ask has dropped $46k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $139k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,320 (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 534 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.28% ✓
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.9% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.34×
• Total profit: $-25,607
• Equity at exit: $20,725

10-year hold

• IRR: -14.7%
• Equity multiple: 0.21×
• Total profit: $-30,696
• Equity at exit: $12,018

Cash invested: $38,920 (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 33884

• Home prices YoY: -34.1%
• Rents YoY: 1.9%
• Active inventory: 689
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,773 high
• Mortgage (P&I): −$729
• Tax from tax record: −$149 /mo · $1,793/yr
• Insurance: −$58
• HOA: −$487
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $-23

Break-even live

Break-even rent $1,802

Max offer price $134,968

Occupancy floor 96%

Sensitivity live

Price	-10% $56	-5% $17	+0% $-23	+5% $-62	+10% $-102
Rent	-10% $-163	-5% $-93	+0% $-23	+5% $47	+10% $117
Rate	-1.0pp $47	-0.5pp $13	base $-23	+0.5pp $-59	+1.0pp $-95

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5850 Cypress Gardens Blvd #806 Winter Haven, FL	3.0	2.5	1356	$1,800	$1.33	5d	1	0.03mi
5850 Cypress Gardens Blvd Winter Haven, FL	2.0–3.0	1.5–2.5	1308	$1,595	$1.22	16d	2	0.03mi
121 Longfellow Rd Winter Haven, FL	3.0	2.0	1395	$1,745	$1.25	5d	1	0.57mi
1015 Mahaffey Rd Winter Haven, FL	1.0–3.0	1.0–3.0	1106	$1,584	$1.43	25d	1	0.64mi
2066 Katie Ct Winter Haven, FL	3.0	2.0	1802	$2,055	$1.14	16d	1	0.69mi
2108 Jonathan Ln Winter Haven, FL	3.0	2.0	1792	$1,975	$1.10	25d	1	0.69mi
3601 Cypress Gardens Rd Unit 6 Winter Haven, FL	2.0	2.0	1200	$1,200	$1.00	25d	1	0.81mi
206 Kingshill Ct SE Winter Haven, FL	3.0	2.0	1460	$1,800	$1.23	5d	1	0.82mi
2005 N Lake Eloise Dr Winter Haven, FL	3.0	2.0	1513	$1,950	$1.29	5d	1	0.84mi
3904 Osprey Pointe Cir Winter Haven, FL	3.0	2.0	1709	$1,950	$1.14	25d	1	0.86mi
227 W Lake Ina Dr Winter Haven, FL	3.0	2.0	1764	$2,500	$1.42	25d	1	0.96mi
1050 Michelangelo Ln Winter Haven, FL	3.0	2.0	1659	$2,100	$1.27	16d	1	1.00mi
4025 Lake Ned Village Cir Winter Haven, FL	1.0–3.0	1.0–2.0	1025	$1,530	$1.49	5d	8	1.07mi
408 Lake Ned Rd Winter Haven, FL	3.0	2.0	1470	$2,100	$1.43	25d	1	1.13mi
415 Laurel Cove Way Winter Haven, FL	2.0	2.0	1230	$1,725	$1.40	5d	1	1.17mi
100 El Camino Dr #309 Winter Haven, FL	2.0	2.0	1579	$1,650	$1.04	16d	1	1.25mi
715 Magnolia Pl Unit 715 Winter Haven, FL	2.0	2.0	1078	$1,650	$1.53	25d	1	1.27mi
3110 Gowan Dr Winter Haven, FL	1.0–2.0	1.0–2.0	1007	$1,841	$1.83	16d	24	1.40mi
1019 Mockingbird Cir Winter Haven, FL	3.0	2.0	1662	$1,650	$0.99	16d	1	1.42mi
150 El Dorado #208 Winter Haven, FL	1.0	1.0	1078	$1,300	$1.21	25d	1	1.43mi
728 Lake Ned Rd Winter Haven, FL	3.0	2.0	1664	$2,000	$1.20	25d	1	1.46mi

HOA detail condo

• Monthly dues: $487 · $5,844/yr
• Likely covers: watersewertrashpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-22
   days on market $139,000 Active 534 DOM
2. 2026-06-18
   days on market $139,000 Active 531 DOM
3. 2026-06-17
   days on market $139,000 Active 530 DOM
4. 2026-06-16
   days on market $139,000 Active 529 DOM
5. 2026-06-15
   days on market $139,000 Active 528 DOM
6. 2026-06-13
   days on market $139,000 Active 526 DOM
7. 2026-06-10
   days on market $139,000 Active 523 DOM
8. 2026-06-09
   days on market $139,000 Active 522 DOM
9. 2026-06-08
   days on market $139,000 Active 521 DOM
10. 2026-06-07
    days on market $139,000 Active 520 DOM
11. 2026-06-05
    days on market $139,000 Active 517 DOM
12. 2026-06-03
    days on market $139,000 Active 515 DOM
13. 2026-06-01
    days on market $139,000 Active 514 DOM
14. 2026-05-31
    days on market $139,000 Active 513 DOM
15. 2026-04-29
    price $139,000
16. 2025-10-30
    price $174,000
17. 2025-10-08
    status Active
18. 2025-09-30
    historical
19. 2024-12-26
    listed $184,947 Active
20. 2022-10-27
    historical
21. 2022-10-15
    price $149,900
22. 2022-10-15
    status Active
23. 2022-10-01
    status Pending
24. 2022-09-26
    listed $149,999 Active
25. 2020-05-06
    soldstatus $90,000
26. 2020-04-13
    soldstatus $90,000 Sold 376-char remark

    Show marketing remark (376 chars)

    Immaculate furnished 2BR/1.5BA townhome across the street from LEGOLAND and short distance to grocery stores, shopping, dining, and gym. Features include gorgeous hardwood floors, spacious eat-in kitchen with custom cabinetry. Outside you will enjoy your very own private fenced patio as well as use of the community pool and tennis courts. HOA covers sewer, trash, and water.

27. 2020-02-26
    status Pending 376-char remark

    Show marketing remark (376 chars)

    Immaculate furnished 2BR/1.5BA townhome across the street from LEGOLAND and short distance to grocery stores, shopping, dining, and gym. Features include gorgeous hardwood floors, spacious eat-in kitchen with custom cabinetry. Outside you will enjoy your very own private fenced patio as well as use of the community pool and tennis courts. HOA covers sewer, trash, and water.

28. 2020-02-25
    listed $99,900 Active 376-char remark

    Show marketing remark (376 chars)

    Immaculate furnished 2BR/1.5BA townhome across the street from LEGOLAND and short distance to grocery stores, shopping, dining, and gym. Features include gorgeous hardwood floors, spacious eat-in kitchen with custom cabinetry. Outside you will enjoy your very own private fenced patio as well as use of the community pool and tennis courts. HOA covers sewer, trash, and water.

29. 2017-03-01
    soldstatus $69,000 Sold
30. 2017-02-14
    status Pending
31. 2017-02-08
    status Active
32. 2017-01-06
    status Pending
33. 2017-01-05
    listed $69,000 Active
34. 2010-12-23
    soldstatus $49,000
35. 2010-05-18
    listed $49,000
36. 2007-06-02
    listed $154,900
37. 2007-03-06
    soldstatus $94,500
38. 2007-02-16
    soldstatus $94,500
39. 2006-11-08
    listed $120,000
40. 1993-07-27
    soldstatus $32,600

ⓘ 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: $1,793 · $149/mo
• Projected year-2 tax: $1,793 · $149/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 24 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: $21,272
• − Mortgage interest: −$7,786
• − Property taxes: −$1,793
• − Insurance: −$695
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − HOA: −$5,844
• − Depreciation: −$4,044
• Taxable loss: −$2,293
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $276/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

• County: Polk County · 740,051 people
• City population: 121,740
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 37,561
• Household income: $70,443
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 949.0

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 19% Black 14% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10% Cuban 2%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 84% English-only · Spanish 12% 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: ▼ -134.69%
• Current HPI: 260.1421
• Rent YoY: ▲ 1.90%
• 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

+326.4% since first listed

26 events — show timeline

• 2026-04-29 Price Changed $139,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $174,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-12-26 Listed $184,947 Stellar MLS as Distributed by MLS Grid
• 2022-10-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-10-15 Price Changed $149,900 Stellar MLS as Distributed by MLS Grid
• 2022-10-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-10-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-09-26 Listed $149,999 Stellar MLS as Distributed by MLS Grid
• 2020-05-06 Sold (Public Records) $90,000 Public Records
• 2020-04-13 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2020-02-26 Pending — Stellar MLS as Distributed by MLS Grid
• 2020-02-25 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 2017-03-01 Sold (MLS) $69,000 Stellar MLS as Distributed by MLS Grid
• 2017-02-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-02-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2017-01-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-01-05 Listed $69,000 Stellar MLS as Distributed by MLS Grid
• 2010-12-23 Sold (Public Records) $49,000 Public Records
• 2010-05-18 Listed $49,000 Stellar MLS as Distributed by MLS Grid
• 2007-06-02 Listed $154,900 Stellar MLS as Distributed by MLS Grid
• 2007-03-06 Sold (Public Records) $94,500 Public Records
• 2007-02-16 Sold (MLS) $94,500 Stellar MLS as Distributed by MLS Grid
• 2006-11-08 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 1993-07-27 Sold (Public Records) $32,600 Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,793 · +6.9% YoY. Source: county tax records.