1636 SW 35th Cir · Okeechobee, FL 34974

$179,900

3 bd · 2.0 ba · 1,353 sqft · Manufactured public records · 200 Days on market

Built 1988 5,619 sqft lot Est $196k · 8% under $114/mo HOA · 6% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.3/30.0
• ARV discount +11.2/15.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Super LOW HOA of just $114 a month!!! OWN LAND!!! Beautifully Updated 3/2 in Desirable Seminole Cove 55+ Community! Welcome to Seminole Cove in Okeechobee, a sought-after 55+ community offering a heated pool, stunning clubhouse, and a full calendar of activities. This well-maintained 3 bedroom, 2 bath double-wide home features spacious walk-in closets in every bedroom and a private primary suite with its own bathroom and walk-in shower. The home boasts an open living and dining area with glass doors on each side, creating bright and inviting spaces. The fully remodeled kitchen (2020) features solid wood cabinetry, pot-and-pan pull-out drawers, a pull-out pantry, plus upgraded appliance

Key facts

• Solid wood cabinetry
• Pull-out pantry
• Heated pool

Tags

• HEATED POOL
• PRIVATE PRIMARY SUITE
• FULLY REMODELED KITCHEN
• SOLID WOOD CABINETRY
• POT-AND-PAN PULL-OUT DRAWERS
• PULL-OUT PANTRY

Property features AI

Finance

• Other: Zoning: MOBILE; Road frontage: 56 (frontage length); Road surface: Alley paved
• HOA & community: Homeowners association with a $114 monthly fee; Senior community

Exterior

• Parking: Carport (2 spaces)
• Utilities: Public water; Public sewer; Sewer available
• Home design: Mobile home (1988 model MH AV (0800)); Single-story; Residential property
• Construction: Metal roof; Construction materials: see remarks
• Exterior features: Front porch (screened); Shed(s); Workshop; Community pool

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Flooring: Carpet; Laminate; Simulated wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Partially furnished; 4 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.3% in Okeechobee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#210 in FL, #3,234 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Okeechobee (town): math 44% / reading 42% proficiency, ranked #58 of 73 in FL (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 402 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Okeechobee County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $89k; list at $180k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $196,185
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1622 SW 35th Cir	0.08mi	2/2.0 (-1)	1,416 (+5%)	0mo	$205,000	$145	84
1628 SW 35 Cir	0.05mi	3/2.0	1,320 (-2%)	13mo	$210,000	$159	83
1637 SW 35 Cir	0.03mi	3/2.0	1,512 (+12%)	6mo	$183,000	$121	74
1625 SW 35th Cir	0.07mi	2/2.0 (-1)	1,152 (-15%)	2mo	$160,000	$139	66
1615 SW 35th Cir	0.12mi	3/2.0	1,512 (+12%)	14mo	$230,000	$152	63
1556 SW 35th Cir	0.28mi	2/2.0 (-1)	1,430 (+6%)	13mo	$207,000	$145	62
1510 SW 35th Cir	0.44mi	3/2.0	1,512 (+12%)	1mo	$172,500	$114	59
1100 SW 44th Blvd	0.42mi	3/2.0	1,296 (-4%)	19mo	$279,000	$215	58
1300 SW 44th Blvd	0.48mi	2/2.0 (-1)	1,325 (-2%)	16mo	$238,000	$180	56
1730 SW 35th Cir	0.29mi	2/2.0 (-1)	1,438 (+6%)	24mo	$186,000	$129	52
1575 SW 35th Cir	0.22mi	2/2.0 (-1)	1,181 (-13%)	18mo	$162,650	$138	49
1517 SW 35th Cir	0.44mi	2/2.0 (-1)	1,150 (-15%)	20mo	$160,000	$139	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-14,542
• Equity at exit: $26,824

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $6,196
• Equity at exit: $15,554

Cash invested: $50,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34974

• Home prices YoY: -15.6%
• Active inventory: 402
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,841 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$75
• HOA: −$114
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $229

Break-even live

Break-even rent $1,551

Max offer price $179,900

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $114 · $1,368/yr
• Likely covers: pool

Listing history 19 events

1. 2026-06-19
   days on market $179,900 Active 200 DOM
2. 2026-06-18
   days on market $179,900 Active 199 DOM
3. 2026-06-17
   days on market $179,900 Active 198 DOM
4. 2026-06-16
   days on market $179,900 Active 197 DOM
5. 2026-06-15
   days on market $179,900 Active 196 DOM
6. 2026-06-14
   days on market $179,900 Active 194 DOM
7. 2026-06-10
   days on market $179,900 Active 191 DOM
8. 2026-06-09
   days on market $179,900 Active 190 DOM
9. 2026-06-08
   days on market $179,900 Active 189 DOM
10. 2026-06-07
    days on market $179,900 Active 188 DOM
11. 2026-06-05
    days on market $179,900 Active 185 DOM
12. 2026-06-03
    days on market $179,900 Active 184 DOM
13. 2026-06-02
    days on market $179,900 Active 183 DOM
14. 2026-06-01
    days on market $179,900 Active 182 DOM
15. 2026-05-31
    days on market $179,900 Active 181 DOM
16. 2026-05-30
    days on market $179,900 Active 180 DOM
17. 2026-01-11
    price $179,900
18. 2025-12-02
    listed $185,000 Active
19. 2008-03-25
    soldstatus $89,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,113 · $93/mo
• Projected year-2 tax: $1,493 · $124/mo
• Expected delta: +$380/yr (+$32/mo · 34.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,090
• − Mortgage interest: −$10,077
• − Property taxes: −$1,113
• − Insurance: −$900
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − HOA: −$1,368
• − Depreciation: −$5,233
• Taxable loss: −$136
• Est. tax savings @ 24.0%: +$33
• After-tax cash flow: $2,782/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Okeechobee
• NCES district ID: 1201410
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $36,710
• Composite: 35.73/100
• National rank: #4855
• State rank: #58 of 73 in FL

Livability — Okeechobee

• Score: 77/100
• State rank: #210
• US rank: #3234

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment C- Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Okeechobee County · 23,975 people
• City population: 23,975
• Metro: Okeechobee, FL
• Population (ZIP): 23,975
• Household income: $53,013
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 399.0

Population outlook (Okeechobee County) Hauer SSP2

• Today (2025): 37,273 people
• By 2030: 35,885 · -3.7%
• By 2040: 32,931 · -11.6%
• By 2050: 29,433 · -21.0%
• By 2075: 19,607 · -47.4%
• By 2100: 11,814 · -68.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 8% Asian 2% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1% Cuban 2%
• Common ancestry: Lithuanian 2% Iranian 2% Italian 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 16% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Okeechobee

• 2024 margin: Solid R (+53.8) · D 22.9% · R 76.7%
• 2008→2024 swing: -34.6pp toward R · 2008: -19.2pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+44.4 2016: R+39.5 2012: R+20.0 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.47%
• Current HPI: 348.6692
• Rent YoY: —
• Metro: Okeechobee, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+102.1% since first listed

3 events — show timeline

• 2026-01-11 Price Changed $179,900 HAOR as distributed by MLS GRID
• 2025-12-02 Listed $185,000 HAOR as distributed by MLS GRID
• 2008-03-25 Sold (Public Records) $89,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,113 · +4.1% YoY. Source: county tax records.