Kissimmee and Davenport are the Disney corridor — US-192, I-4 commuter chaos, and investors who underwrite nightly revenue, not a 12-month lease on Florida DSCR.
Hard money loans in the Kissimmee/Davenport STR corridor fund bridge acquisition and rehab on townhomes and SFR near Walt Disney World access. Permanent debt is a separate decision: do not assume Airbnb pro forma converts to DSCR without lender confirmation.
The Disney corridor geography
Kissimmee sits in Osceola County along US-192 ( Irlo Bronson Memorial Highway ), John Young Parkway, and Poinciana Blvd — the original tourist strip feeding Disney, Universal, and SeaWorld visitors. Davenport spans Polk/Orange line along US-27 and Champions Gate master-planned communities, 10–20 minutes from Animal Kingdom gate.
Investor product clusters in:
- Champions Gate / Reunion: STR townhomes with resort pools, HOA STR minimums
- Four Corners: Mixed SFR and townhome, lower basis, higher management intensity
- Poinciana: Older SFR stock, lower acquisition but longer drive to parks
- Davenport pool homes: 4–6 bed SFR with private pools, $310K–$385K basis
This is not Lake Nona — no medical city employment anchor, no 12-month lease DSCR default. Revenue is nightly occupancy × ADR minus 20%–25% STR management fee.
STR vs. LTR (Orlando MSA)
| Kissimmee/Davenport | Lake Nona/Winter Park | |
|---|---|---|
| Revenue model | Nightly occupancy | 12-month lease |
| Permanent debt | Product-specific | DSCR default |
| Management | 20%–25% STR fee | 8% PM |
| Insurance | STR rider often required | Standard landlord |
| Hard money | Same bridge rates | Same bridge rates |
| Basis | $285K–$385K | $355K–$465K |
2026 STR acquisition bands
| Product | Buy | Rehab + furnish | Gross STR (pro forma) |
|---|---|---|---|
| Townhome 3/2 | $285K–$340K | $45K rehab + $18K furnish | $42K–$58K/yr |
| SFR pool home 4/3 | $310K–$385K | $52K + $22K furnish | $48K–$65K/yr |
| SFR no pool 3/2 | $265K–$310K | $38K + $15K furnish | $35K–$48K/yr |
Underwrite occupancy 55%–65% in year one — not peak-season (November–April) annualized. July–September occupancy often drops 35%–45% as Florida heat suppresses theme park demand.
Hard money terms
8.99%–13.5% interest-only · 7–10 business day close · up to 100% of cost on qualified files, sized to the lower of cost and 75% of after-repair value. The rehab holdback covers documented construction, not furniture.
Orlando metro · Florida hard money
Furniture, staging, and STR startup costs are sponsor equity — hard money rehab holdback covers construction only.
Draw schedule: Davenport townhome STR prep
$48,000 rehab (construction only — no furniture):
- $9,600 (20%): Permits, demo, pool fence compliance
- $16,800 (35%): Kitchen, HVAC service, bath, flooring
- $14,400 (30%): Paint, fixtures, smart lock, exterior
- $7,200 (15%): Final inspection, pool safety cert, photos for listing
Furniture ($18K–$22K) funded separately by sponsor after Draw 4 — typically 2–3 weeks before first guest check-in.
Worked example: Davenport townhome bridge
Property: 3/2 townhome in Champions Gate, 1,680 sq ft, community pool, STR-eligible per HOA ( minimum 7-night stays). Needs kitchen update and pool fence to code.
Acquisition: $318,000 — competing STR operator offers $325K conventional; seller takes hard money 8-day close at $318K.
Rehab (hard money) — $48,000:
- Kitchen update: $14,200
- Bath refresh (both): $7,800
- Flooring/paint: $9,400
- Pool fence to code: $4,200
- HVAC service + misc: $5,400
- Smart lock, staging prep: $7,000
Furnish (sponsor cash) — $20,000: Not in hard money holdback.
All-in (incl. furnish): $386,000
Hard money: 87% LTC on $366,000 (acq + rehab only) → $318,420 at 12% IO. 12-month bridge.
Carry (12 months): ~$3,184/mo interest + $520/mo tax/insurance/HOA = ~$3,704/mo = ~$44,448
STR pro forma (conservative):
- ADR: $185/night
- Occupancy year 1: 58% → 212 nights
- Gross: $39,220
- STR management (22%): $8,628
- Cleaning ($125/turnover × 42): $5,250
- Net before debt service: ~$25,342
Year 1 reality: Ramp-up months 1–3 at 40%–45% occupancy while reviews accumulate. Break-even occupancy on carry typically hits month 5–7.
Exit options:
- Sale to STR operator at $395K–$410K with established booking history
- Convert to LTR if HOA allows ($2,400–$2,650/mo) → Florida DSCR at 68% LTV
- STR-specific permanent product — confirm on pre-qual, not assumed
DSCR not assumed on acquisition — bridge thesis is 12-month hold with defined exit.
HOA and STR caps: community-by-community
Before hard money close, verify STR eligibility:
- Champions Gate: Generally STR-friendly with 7-night minimum, register with Osceola County
- Reunion Resort: Premium STR; higher basis, higher ADR ($250–$350/night)
- Four Corners: Mixed — some communities cap investor ratio at 30%
- Poinciana: Fewer HOA restrictions but lower ADR ($120–$160/night)
Read CC&Rs for rental day caps, minimum stay, and investor concentration limits.
Osceola County diligence
- Tourist Development Tax (TDT) registration — 6% Osceola + 6.5% Florida sales tax on short-term stays
- Insurance — STR rider; inland $2,400–$3,600/yr base plus liability umbrella recommended
- Competition — new STR supply on 192 corridor suppresses ADR 5%–10% annually in oversaturated pockets
- Permit — Osceola County STR registration required
Pre-qual checklist: Kissimmee/Davenport STR
- Contract with ≤10-day close and HOA STR eligibility letter
- GC scope (construction only — separate furniture budget)
- Three STR comp properties within community or 1 mi with published ADR/occupancy
- Conservative pro forma at 55% occupancy, not AirDNA peak season
- FL LLC docs and 12-month carry reserve (STR ramp is slow)
- HOA docs: STR rules, rental caps, investor ratio
- Insurance quote with STR rider
- Permanent debt plan documented before acquisition — DSCR, STR loan, or sale
FAQ
Lake Nona LTR instead?
Lake Nona hub page for DSCR stacking at $2,850–$3,350/mo LTR rents.
Permanent STR loan?
Ask on pre-qual — separate product from default DSCR. Not assumed at bridge acquisition.
Tampa inland?
East Tampa — LTR BRRRR, not Disney STR economics.
Can hard money fund furniture?
No — furniture is sponsor equity. Rehab holdback covers construction draws only.
Kissimmee / Davenport — STR bridge file gates (2026)
STR files fail when Lake Nona LTR DSCR is assumed at acquisition, or when HOA STR rules and investor ratio caps are unread before LOI. Furniture is sponsor equity — not in rehab holdback.
- Occupancy: Underwrite 55% year-one ramp — not AirDNA peak-season pro forma
- HOA: Champions Gate vs Poinciana rules differ — verify Osceola registration + CC&Rs
- Exit: STR operator resale or confirmed STR product — not default DSCR
Bridge 8.99%–13.5% IO · Orlando rankings · (833) 264-7776.
Underwriting anchor: Acquisition: $318,000 — competing STR operator offers $325K conventional; seller takes hard money 8-day close at $318K. — HOA ( minimum 7-night stays) on Kissimmee Davenport Orlando Str before IO term (parcel-specific comps only).
Pre-Qualify for Disney Corridor Hard Money · (833) 264-7776
Kissimmee and Davenport values fell into the 2026 season
Kissimmee’s typical mid-tier home value was $355,971 on August 31, 2026, down from $367,709 a year earlier. That is a 3.2% decline in the Zillow city value file. Davenport’s city reading was $338,572, down from $351,053, a 3.6% decline. Orlando’s city reading was $371,120, down from $376,459, a 1.4% decline. The Disney-corridor cities fell faster than Orlando.
ZIP detail is sharper. Kissimmee ZIP 34741 read $284,955, down from $297,102, a 4.1% drop. Davenport ZIP 33837 read $333,572, down from $346,241, a 3.7% drop. Davenport ZIP 33896 read $352,143, down from $367,582. Kissimmee ZIP 34747 read $398,281, down from $410,757. All of those are in the ZIP value file. A townhome at $318,000 can be inside a resort community and still sit above the 34741 typical value. Name the community in the comp set. Do not average a Champions Gate townhome with a 34741 house that has no resort amenity.
Long-term rents barely moved, which matters because an STR plan sometimes has to become a lease. The Kissimmee city rent index was $1,914 in August 2026, against $1,917 a year earlier. Davenport’s city rent index was $1,992, up from $1,966. ZIP 34741 rent was $1,748, down from $1,760. ZIP 33837 rent was $2,052, up from $2,025. Source: the city rent file and the ZIP rent file. A fallback lease near $2,400 is above these indexes. Treat it as a comp exercise, not as the index.
FHFA had South Atlantic prices up 1.8% through July 2026, in a report released September 29, 2026. These city indexes fell over the year ending August 2026. Pay for today’s resale, not for the 2025 print.
Tourist tax on stays of six months or less
Florida’s Local Option Tourist Development Act, section 125.0104, taxes rentals of living quarters for six months or less. The county board sets a base rate of 1% or 2%, and the statute allows further add-on percent after the base tax has been in place. Confirm Osceola’s or Polk’s current percent with the county before you model cash flow. Do not copy a rate from a different Florida county. Sales tax is a separate levy. Registration is part of opening the listing, not a task for month six.
The 10% nonhomestead cap does not freeze the seller’s bill
Section 193.1554 applies to nonhomestead residential property of nine or fewer units. An STR house or townhome in an investor’s name is in that group if it has no homestead exemption. Assessed value for non-school levies goes to just value as of January 1 after a change of ownership. Later annual increases are capped at 10%. School-district levies are outside this section. A homestead seller’s tax bill will understate the buyer’s bill. Use the reset in year one of the hold, then the cap.
Illustration: furniture stays outside the value cap
Example only. Purchase $320,000. Construction rehab $48,000. Cost for the loan test is $368,000. Furniture of $20,000 is sponsor cash and is not in the holdback. Illustrated resale or stabilized value $400,000. Seventy-five percent of that value is $300,000. The loan is $300,000, about 82% of acquisition plus construction. It is not 100% of cost, because the value cap is lower. Interest-only at 11.5%, inside 8.99%–13.5%, is $2,875 a month. Twelve months of interest is $34,500, before tax, HOA, insurance, and management.
Nightly revenue has to cover that interest during ramp-up, or the reserve does. If the HOA later blocks short stays, the fallback is a lease checked against the ZIP rent index, then Florida DSCR loans only if that lease supports the ratio. Jaken Finance Group does not treat an Airbnb spreadsheet as the permanent loan.
Before the deposit on a resort townhome
- HOA letter that states the minimum stay and whether new investors are still allowed.
- County tourist-tax account plan under section 125.0104.
- Three sales inside the same community, dated after the 2025 peak.
- A year-one tax estimate using the 193.1554 reset.
- Furniture budget in a separate column from the construction draws.
- Twelve months of interest in reserve, because summer occupancy is the weak season.
Orlando metro terms are on Orlando hard money.
Do not wire a corridor deposit until the HOA letter allows the stay length you underwrote. Jaken Finance Group reviews that letter with the bridge request at (833) 264-7776.