245 Cherrywood DrLake WalesFL33898
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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 245 Cherrywood Dr, Lake Wales, FL, 33898 priced at $120,000 converts $1,037/mo rent into $61/mo cash flow after a $587/mo obligation. Total monthly income equals $1,037/mo, and annual cash flow totals $732/yr on $39,780 invested. Return on cash invested prints 21.75% in year one, and rental yield reads 10.37% against a $120,000 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation compiles into $33,154 by year five. Five-year ROI reaches 115.25% and total cumulative return in cash sums $45,847. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,037/mo property income covering a $587/mo payment, not borrower’s personal income.
Manufactured
Built in 1988
4,792 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
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Listed by: Kimberly Gay • COLDWELL BANKER REALTY
Mls Name: Stellar MLS
Mls Provider:
Mls ID: #P4935232
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