1114 Amber Waves Ct · Lake Wales, FL 33859

$259,900

5 bd · 2.0 ba · 1,739 sqft · SingleFamily · 22 Days on market

Built 2026 Good condition

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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 +11.6/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• DSCR +3.4/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The property is located at 1114 Amber Waves Court LAKE WALES FL 33859 priced at 259900, the square foot and stories are 1739, 1.The number of bath is 2, halfbath is 0 there are 5 bedrooms and 1 garages. For more details please, call or email.

Key facts

• Garage
• Built 2026
• Listed 22 days

Property features AI

Finance

• Other: Address: 1114 Amber Waves Ct, Lake Wales FL 33859; Status: Active; Last modified: 2026-05-27
• Financial info: List price $261,990

Exterior

• Parking: 1 garage space (1 parking space total)
• Home design: Single-family property
• Exterior features: Living area 1,739

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec-built home (ALFORD plan)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-82 ($-987/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (16.5% below list).
• Recommended offer: $217k (16.5% below list) — sets the bar for 1% rule.

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: 261 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 10,384 units permitted in Polk County in 2024 (1,716 in 5+ unit buildings).
• At $2,169/mo this rent would consume 45% of the median local household income ($58k/yr) (locally 408% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 22 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,948 (16.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 10.0

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: -18.5%
• Equity multiple: 0.35×
• Total profit: $-47,318
• Equity at exit: $38,752

10-year hold

• IRR: -10.9%
• Equity multiple: 0.34×
• Total profit: $-47,814
• Equity at exit: $22,471

Cash invested: $72,772 (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: 10.0×

Monthly cashflow live

• Estimated rent: $2,169 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $-82

Break-even live

Break-even rent $2,274

Max offer price $248,004

Occupancy floor 99%

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1139 Amber Waves Ct Lake Wales, FL	5.0	2.0	1739	$1,795	$1.03	14d	1	0.02mi
517 Bell Prairie Cir Lake Wales, FL	4.0	2.5	1897	$2,100	$1.11	14d	1	0.08mi
626 Bell Prairie Cir Lake Wales, FL	4.0	2.0	1931	$2,600	$1.35	23d	1	0.13mi
645 Bell Prairie Cir Lake Wales, FL	4.0	2.5	1933	$2,000	$1.03	11d	1	0.14mi
338 Rustic Rail Dr Lake Wales, FL	4.0	2.0	1841	$2,150	$1.17	14d	1	0.14mi
346 Rustic Rail Dr Lake Wales, FL	4.0	2.0	1844	$2,150	$1.17	14d	1	0.16mi
598 Bell Prairie Cir Lake Wales, FL	4.0	2.5	1931	$2,100	$1.09	23d	1	0.18mi
413 Singing Sands Cir Lake Wales, FL	4.0	2.0	1817	$1,950	$1.07	3d	1	0.18mi
343 Dinner Lake Ct Lake Wales, FL	4.0	2.0	1801	$2,400	$1.33	14d	1	0.36mi
238 Dinner Lake Pl Lake Wales, FL	4.0	2.0	1913	$1,950	$1.02	23d	1	0.41mi
802 Ballantyne Dr Lake Wales, FL	4.0	2.0	1928	$2,100	$1.09	23d	1	0.65mi

Listing history 13 events

1. 2026-06-18
   days on market $259,900 Active 22 DOM
2. 2026-06-17
   days on market $259,900 Active 21 DOM
3. 2026-06-16
   days on market $259,900 Active 20 DOM
4. 2026-06-15
   days on market $259,900 Active 19 DOM
5. 2026-06-13
   pricedays on market $259,900 Active 17 DOM
6. 2026-06-10
   days on market $261,990 Active 14 DOM
7. 2026-06-09
   days on market $261,990 Active 13 DOM
8. 2026-06-08
   days on market $261,990 Active 12 DOM
9. 2026-06-07
   days on market $261,990 Active 11 DOM
10. 2026-06-05
    days on market $261,990 Active 8 DOM
11. 2026-06-03
    days on market $261,990 Active 6 DOM
12. 2026-06-01
    days on market $261,990 Active 5 DOM
13. 2026-05-31
    days on market $261,990 Active 4 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,034
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$7,561
• Taxable loss: −$5,449
• Est. tax savings @ 24.0%: +$1,308
• After-tax cash flow: $321/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.

Condition & rehab AI · 3 photos

Good 80/100 None rehab

This single-family home is in excellent condition with no visible repairs needed. It offers a good investment opportunity with potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics
• Both New paint in interior walls — Enhances interior aesthetics and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
• Both New paint in interior walls — Enhances interior aesthetics and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• County: Polk County · 740,051 people
• City population: 30,351
• 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