1329 Morningside DrLake WalesFL33853
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1329 Morningside Dr, Lake Wales, FL, 33853 in Lake Wales at $145,000 earns $1,147/mo in rent and nets $185/mo after the $652/mo payment, a 9.49% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $40,061 over five years. Ziffy Mortgage underwrites this on a 1.76 DSCR without U.S. credit history. With $1,335/yr in principal paydown, total projected return reaches $67,186.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 6.0% |
| Monthly Cash Flow | $185 | $300 |
City averages based on Lake Wales market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,147 |
| Total Monthly Debt Service | $905 |
| DSCR Ratio | 1.27x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1954
10,215 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
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
Single Family
Built in 1954
10,215 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: Jennifer Daniell • LA ROSA REALTY PRESTIGE
Mls Name: Stellar MLS
Mls ID: #P4935802