1197 E Grove AveLake WalesFL33853
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Lake Wales at 1197 E Grove Ave, Lake Wales, FL, 33853 generates $2,077/mo in rent and, after a $1,148/mo payment, leaves $521/mo in cash flow. Total monthly income is $2,077/mo, and annual cash flow is $6,247/yr on $77,737 invested. Return on cash invested sits at 27.95% in year one, and rental yield is 10.63% on a $234,500 entry. Equity gained on principal adds $1,513/yr, while 5% annual appreciation builds toward $64,788 over five years. Five-year ROI reaches 146.55% and total cumulative return in cash sums $113,920. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,077/mo property income rather than buyer’s personal income.
Single Family
Built in 2003
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33853, Lake Wales, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,290 (100%) |
| Owner Occupied HU | 2,614 (49.4%) |
| Renter Occupied HU | 2,091 (39.5%) |
| Vacant Housing Units | 585 (11.1%) |
| Median Home Value | $262,414 |
| Average Home Value | $297,182 |
Housing Distribution
Address Breakdown
Residential
4,964
Single Family
4,540
Multi-Family
424
Businesses
582
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