151 Cherrywood DrLake WalesFL33898
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.59% yield at 151 Cherrywood Dr, Lake Wales, FL, 33898 in Lake Wales is solid, but the $607/mo payment compresses net cash flow to $3/mo at $134,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $37,270 by year five, and $1,242/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.78) without U.S. income documentation. Total projected return: $52,410.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 6.0% |
| Monthly Cash Flow | $3 | $300 |
City averages based on Lake Wales market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,078 |
| Total Monthly Debt Service | $1,022 |
| DSCR Ratio | 1.06x |
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.
Manufactured
Built in 1979
4,731 sqft lot
$N/A/sqft
$180 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33898, Lake Wales, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,977 (100%) |
| Owner Occupied HU | 5,967 (59.8%) |
| Renter Occupied HU | 1,521 (15.2%) |
| Vacant Housing Units | 2,489 (24.9%) |
| Median Home Value | $264,397 |
| Average Home Value | $297,827 |
Housing Distribution
Address Breakdown
Residential
8,631
Single Family
7,356
Multi-Family
1,275
Businesses
180
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
Manufactured
Built in 1979
4,731 sqft lot
$N/A/sqft
$180 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33898, Lake Wales, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,977 (100%) |
| Owner Occupied HU | 5,967 (59.8%) |
| Renter Occupied HU | 1,521 (15.2%) |
| Vacant Housing Units | 2,489 (24.9%) |
| Median Home Value | $264,397 |
| Average Home Value | $297,827 |
Housing Distribution
Address Breakdown
Residential
8,631
Single Family
7,356
Multi-Family
1,275
Businesses
180
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Miranda Harden • HARDEN REALTY & MANAGEMENT
Mls Name: Stellar MLS
Mls Provider:
Mls ID: #B4901729
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Some IDX listings have been excluded from this website. Listing Information presented by local MLS brokerage: Zillow, Inc - (407) 904-3511