2881 E Spinnaker Dr · Sebring, FL 33825

$79,000

3 bd · 2.0 ba · 1,750 sqft · Manufactured · 214 Days on market

Built 1993 Est $136k · 42% under ↓ 17% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautiful doublewide in the sought-after Marina Cove at Highlands Ridge, an active 55+ community nestled along beautiful Bonnet Lake and home to two 18-hole championship golf courses! This well-maintained 3-bedroom, 2-bath home offers a spacious and inviting layout, perfect for comfortable living. Inside, you’ll find a mix of vinyl, carpet, and tile flooring throughout, blending style with practicality. The open floor plan provides generous living and dining areas, while the kitchen offers plenty of cabinetry and space for everyday convenience. The primary bedroom includes a private bath, and the home features a washer and dryer for added ease. Recent updates incl

Key facts

• Open floor plan
• Private bath
• Washer and dryer

Tags

• MARINA COVE COMMUNITY
• OPEN FLOOR PLAN
• PLENTY OF CABINETRY
• PRIVATE BATH
• WASHER AND DRYER
• ROOF INSTALLED IN 2018

Property features AI

Finance

• Other: Zoning: MH-1
• Financial info: Land is leased with a land lease payment of $580

Exterior

• Parking: 3 total parking spaces; 3-car garage
• Utilities: Public water; Public sewer (sewer available)
• Home design: Manufactured in park (mobile home); Double wide; One level
• Construction: Metal siding; Shingle roof
• Exterior features: Enclosed rear porch; Paved road access; No pool

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator; Dishwasher
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 4.3% in Sebring — 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 66/100 on livability (#618 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Highlands (other): math 45% / reading 43% proficiency, ranked #54 of 73 in FL (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 475 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• This rent runs 39% of the median local income ($47k/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 $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.91% ✓
• Cap rate: 16.11%
• Cash-on-cash: 35.06%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $136,500
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2881 E Spinnaker Dr	0.00mi	3/2.0	1,750 (0%)	0mo	$55,000	$31	100
2826 S Mainsail Dr	0.05mi	2/2.0 (-1)	1,760 (+1%)	3mo	$175,000	$99	90
2704 E Waterview Dr	0.24mi	3/2.0	1,700 (-3%)	4mo	$70,000	$41	81
2925 E Fairway Dr	0.06mi	3/2.0	1,700 (-3%)	16mo	$132,000	$78	79
2877 Driftwood Ct	0.35mi	2/2.0 (-1)	1,708 (-2%)	4mo	$140,000	$82	72
2863 S Dockside Dr	0.22mi	2/2.0 (-1)	1,700 (-3%)	15mo	$125,000	$74	68
2701 E Waterview Dr	0.23mi	2/2.0 (-1)	1,600 (-9%)	3mo	$147,900	$92	67
2888 E Spinnaker Dr	0.02mi	2/2.0 (-1)	1,500 (-14%)	19mo	$114,000	$76	54

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: 30.6%
• Equity multiple: 2.28×
• Total profit: $28,381
• Equity at exit: $11,779

10-year hold

• IRR: 37.8%
• Equity multiple: 4.52×
• Total profit: $77,806
• Equity at exit: $6,830

Cash invested: $22,120 (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 33825

• Home prices YoY: -25.9%
• Active inventory: 475
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,509 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $646

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 52%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-19
   status Pending
2. 2026-03-25
   price $79,000
3. 2026-01-06
   price $85,000
4. 2025-10-17
   listed $95,000 Active

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

Taxation est. · year 1

• Rental income: $18,109
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$2,298
• Taxable income: $6,908
• Est. tax owed @ 24.0%: −$1,658
• After-tax cash flow: $6,097/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: Highlands
• NCES district ID: 1200840
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $35,276
• Composite: 36.42/100
• National rank: #4672
• State rank: #54 of 73 in FL

Livability — Sebring

• Score: 66/100
• State rank: #618
• US rank: #11992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Highlands County · 98,898 people
• City population: 50,797
• Metro: Sebring-Avon Park, FL
• Population (ZIP): 25,501
• Household income: $46,949
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 691.0

Population outlook (Highlands County) Hauer SSP2

• Today (2025): 99,674 people
• By 2030: 99,615 · -0.1%
• By 2040: 99,342 · -0.3%
• By 2050: 98,242 · -1.4%
• By 2075: 93,291 · -6.4%
• By 2100: 79,894 · -19.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 51% Hispanic / Latino 27% Black 17% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 13% Cuban 2%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 10% · Canada, Vietnam, Guatemala
• Languages at home: 74% English-only · Spanish 24% Tagalog/Filipino 1%

Political lean MEDSL · Highlands

• 2024 margin: Solid R (+40.8) · D 29.3% · R 70.1%
• 2008→2024 swing: -22.7pp toward R · 2008: -18.1pp · 2024: -40.8pp
• All cycles: 2024: R+40.8 2020: R+34.4 2016: R+32.0 2012: R+23.0 2008: R+18.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.54%
• Current HPI: 281.8067
• Rent YoY: —
• Metro: Sebring-Avon Park, 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

-16.8% since first listed

4 events — show timeline

• 2026-05-19 Pending — HAOR as distributed by MLS GRID
• 2026-03-25 Price Changed $79,000 HAOR as distributed by MLS GRID
• 2026-01-06 Price Changed $85,000 HAOR as distributed by MLS GRID
• 2025-10-17 Listed $95,000 HAOR as distributed by MLS GRID