1020 98 W

Frostproof, FL 33843

$179,000D+

3 bd · 3.0 ba · 960 sqft · Built 1995 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,527/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$228
• HOA: −$0
• Vac / Maint / Mgmt: −$321
• Net cashflow: $39/mo
• Annual: $470/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• 1% rule: 0.85%
• Cash to close: $50,120

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $179k.
• At list price, monthly cash flow is $39 ($470/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 $153k (14.7% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $153k (14.7% below list) — sets the bar for 1% rule.
• In year one you build about $37 of equity ($1k loan paydown + $-1k appreciation (-0.7% local appreciation)).
• Location reads 69/100 on livability (#456 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Frostproof Ben Hill Griffin Jr Elementary School (math 34% / reading 36%, grade F, #1,697 of 2,144 statewide, top 80%, 917 students, 66% FRL); Frostproof Middle/Senior High (math 34% / reading 34%, grade F, #394 of 667 statewide, top 60%, 1,150 students, 60% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: 438 active listings in the ZIP; 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.
• 5 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; list at $179k implies a 139% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.