1306 Morningside DrLake WalesFL33853
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Investment property for sale in Lake Wales at 1306 Morningside Dr, Lake Wales, FL, 33853 listed at $220,000 pairs $1,836/mo rent with a $1,077/mo payment to leave $376/mo cash flow. Total monthly income runs $1,836/mo, and annual cash flow reaches $4,510/yr on $72,930 cash to close. Return on cash invested measures 26.09% in year one, and rental yield registers 10.01% at a $220,000 basis. Equity gained on principal adds $1,420/yr, and annual property appreciation at 5% supports $60,782 by year five. Five-year ROI tracks 136.6% and total cumulative return in cash totals $99,623. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,836/mo property income relative to a $1,077/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1958
10,158 sqft 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Pamela Carter • KELLER WILLIAMS REALTY SMART 1
Mls Name: Stellar MLS
Mls ID: #L4955993