555 Morrel Ave · Alturas, FL 33859

$120,000

2 bd · 1.0 ba · 624 sqft · SingleFamily public records · 405 Days on market

Built 1950 5,140 sqft lot ↓ 39% since listing

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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 +23.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.7/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is a charming 2 bedroom 1 bath home on a oversized lot with no HOA, great for the first time homebuyer or a small family. The home has a great front porch, perfect for relaxing and having a cup of coffee. Once entering into the home is the living room which leads into the kitchen. There is another enclosed porch which has windows that brings in all the sunlight. The home has a metal roof and vinyl siding. The outside had a garage and a small workshop inside, along with a metal roof. There is a playground just around the corner. Please don't miss the opportunity to view this home.

Key facts

• Metal roof
• Garage
• Front porch

Tags

• OVERSIZED LOT
• FRONT PORCH
• ENCLOSED PORCH
• METAL ROOF
• VINYL SIDING
• GARAGE

Property features AI

Finance

• Other: Zoning: R-3; Lot dimensions approximately 57 x 90 (0.12 acre); Two wells and one septic; Public records list living area and building area
• HOA & community: Playground; Cats and dogs allowed

Exterior

• Parking: RV access/parking; Workshop in garage; 1-car garage
• Utilities: Well water; Septic tank; Cable available; Electricity connected; Water connected
• Home design: Single family residence; One story; Faces south; Completed condition
• Construction: Vinyl siding and frame construction; Metal roof; Crawlspace foundation; Built using standard residential construction
• Exterior features: Enclosed patio/porch; Front porch; Rear porch; Rain gutters; Storage shed(s); Workshop; Cleared yard; Corner lot; Trees and landscaped lot; Paved public-maintained road

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Linoleum; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Ceiling fans; Aluminum window frames
• Laundry & utility: Washer; Laundry area located in the garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#678 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime 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: Spook Hill Elementary School (math 28% / reading 33%, grade F, #1,862 of 2,144 statewide, top 88%, 584 students, 67% FRL); Lake Wales Senior High School (math 32% / reading 45%, grade F, #321 of 667 statewide, top 49%, 1,586 students, 64% FRL, charter).
• Market conditions: 261 active listings in the ZIP; 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 $830 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 405 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $77k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 405 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 1950 — 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. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• GRM: 7.8

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-5,651
• Equity at exit: $17,892

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $12,844
• Equity at exit: $10,375

Cash invested: $33,600 (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 33859

• Home prices YoY: -16.6%
• Active inventory: 261
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,287 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$121 /mo · $1,450/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $217

Break-even live

Break-even rent $1,013

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $284	-5% $251	+0% $217	+5% $183	+10% $149
Rent	-10% $115	-5% $166	+0% $217	+5% $267	+10% $318
Rate	-1.0pp $277	-0.5pp $247	base $217	+0.5pp $185	+1.0pp $154

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-04
   status Pending
2. 2026-04-10
   price $120,000
3. 2026-03-17
   status Active
4. 2026-03-08
   historical
5. 2025-10-21
   price $175,000
6. 2025-06-26
   price $185,000
7. 2025-04-27
   price $190,000
8. 2025-03-15
   listed $197,000 Active

ⓘ 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: $1,450 · $121/mo
• Projected year-2 tax: $1,450 · $121/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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: $15,443
• − Mortgage interest: −$6,722
• − Property taxes: −$1,450
• − Insurance: −$600
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$3,491
• Taxable income: $709
• Est. tax owed @ 24.0%: −$170
• After-tax cash flow: $2,428/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 — Alturas

• Score: 64/100
• State rank: #678
• US rank: #14100

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alturas, FL
• County: Polk County · 740,051 people
• Metro: Lakeland-Winter Haven, FL
• Population (ZIP): 11,824
• Household income: $57,760
• Rent vs Own: 28.5% rent · 71.5% own
• Severe rent burden: 408.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 25% Two or more races 13% Black 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 1% Dominican 4%
• Common ancestry: Lithuanian 2% Romanian 1% Serbian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 19% French/Haitian/Cajun 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: ▼ -53.19%
• Current HPI: 267.4537
• 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

-39.1% since first listed

8 events — show timeline

• 2026-05-04 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-21 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-27 Price Changed $190,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-15 Listed $197,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+13.1%/yr

Latest (2025): $1,450 · +10.6% YoY. Source: county tax records.