408 Corvette Ave · Sebring, FL 33872

$216,000

3 bd · 4.0 ba · 1,218 sqft · SingleFamily public records · 1 Days on market

Built 2021 0.27 ac lot Est $227k · at est.

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Why this score? — see what drove the D- 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 +11.2/30.0
• ARV discount +9.6/15.0
• Schools +3.6/10.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRAND NEW CONSTRUCTION by Brian Sullivan, home is now completed! This quality built home has a nice sized kitchen with plenty of wood cabinets, granite countertops and stainless steel appliances. Huge pantry. 10ft long granite bar separates kitchen from dining room. Master bedroom has walk in closet. Master bath has dual sink vanity, soaker tub, shower and linen closet. Nice sized (16x10) screened rear porch. Washer/dryer hookups are in the garage. Driveway is doublewide to accommodate multiple vehicles. Lot is 165 ft long, so if a pool is in your future this is your home! Septic tank is located in the front yard. Lawn has well irrigation. Home comes with 1 year Builder warranty from CO date.

Key facts

• 0.27 acre lot
• Garage
• Built 2021

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $216k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (16.8% below list).
• Recommended offer: $180k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: Rents rising (+1.6%/yr); 700 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• This rent runs 31% of the median local income ($70k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,770 (16.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.66%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $226,548
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Citroen Dr	0.29mi	3/2.0	1,135 (-7%)	2mo	$215,000	$189	66
528 Lotus Ave	0.27mi	3/2.0	1,136 (-7%)	4mo	$265,000	$233	65
3902 Sunbird Cir	0.47mi	2/2.0 (-1)	1,209 (-1%)	1mo	$176,000	$146	63
3332 Thunderbird Rd	0.15mi	3/2.0	1,370 (+12%)	5mo	$229,000	$167	60
3717 Sunbird Cir	0.50mi	2/2.0 (-1)	1,182 (-3%)	2mo	$200,900	$170	57
4401 Shamrock St	0.66mi	3/2.0	1,200 (-2%)	4mo	$230,000	$192	56
3833 Sunbird Cir	0.52mi	2/2.0 (-1)	1,251 (+3%)	4mo	$190,000	$152	55
33155 Grand Prix Dr	0.42mi	3/2.0	1,373 (+13%)	2mo	$294,000	$214	50
4230 Maserati St	0.68mi	3/2.0	1,296 (+6%)	3mo	$235,000	$181	47
1513 Valiant Ave	0.62mi	2/2.0 (-1)	1,129 (-7%)	4mo	$227,000	$201	42
201 Dove Ave	0.60mi	3/2.5	1,381 (+13%)	3mo	$257,000	$186	41
203 Lark Ave	0.52mi	2/2.0 (-1)	1,380 (+13%)	5mo	$189,000	$137	36

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 · 1.65% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.29×
• Total profit: $-42,696
• Equity at exit: $32,206

10-year hold

• IRR: -17.0%
• Equity multiple: 0.12×
• Total profit: $-53,514
• Equity at exit: $18,676

Cash invested: $60,480 (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 33872

• Home prices YoY: -25.8%
• Rents YoY: 1.6%
• Active inventory: 700
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,798 medium
• Mortgage (P&I): −$1,133
• Tax from tax record: −$281 /mo · $3,372/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-84

Break-even live

Break-even rent $1,903

Max offer price $201,246

Occupancy floor 100%

Sensitivity live

Price	-10% $39	-5% $-22	+0% $-84	+5% $-145	+10% $-206
Rent	-10% $-226	-5% $-155	+0% $-84	+5% $-13	+10% $58
Rate	-1.0pp $25	-0.5pp $-29	base $-84	+0.5pp $-139	+1.0pp $-196

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: $54,000
• Closing costs: $6,480
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2025-10-10
   status Pending
2. 2025-10-01
   listed $216,000 Active
3. 2022-02-11
   soldstatus $237,000 701-char remark

   Show marketing remark (701 chars)

   BRAND NEW CONSTRUCTION by Brian Sullivan, home is now completed! This quality built home has a nice sized kitchen with plenty of wood cabinets, granite countertops and stainless steel appliances. Huge pantry. 10ft long granite bar separates kitchen from dining room. Master bedroom has walk in closet. Master bath has dual sink vanity, soaker tub, shower and linen closet. Nice sized (16x10) screened rear porch. Washer/dryer hookups are in the garage. Driveway is doublewide to accommodate multiple vehicles. Lot is 165 ft long, so if a pool is in your future this is your home! Septic tank is located in the front yard. Lawn has well irrigation. Home comes with 1 year Builder warranty from CO date.

4. 2021-11-27
   listed $237,500 701-char remark

   Show marketing remark (701 chars)

   BRAND NEW CONSTRUCTION by Brian Sullivan, home is now completed! This quality built home has a nice sized kitchen with plenty of wood cabinets, granite countertops and stainless steel appliances. Huge pantry. 10ft long granite bar separates kitchen from dining room. Master bedroom has walk in closet. Master bath has dual sink vanity, soaker tub, shower and linen closet. Nice sized (16x10) screened rear porch. Washer/dryer hookups are in the garage. Driveway is doublewide to accommodate multiple vehicles. Lot is 165 ft long, so if a pool is in your future this is your home! Septic tank is located in the front yard. Lawn has well irrigation. Home comes with 1 year Builder warranty from CO date.

5. 2006-01-31
   historical
6. 2005-12-01
   listed $59,000

ⓘ 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: $3,372 · $281/mo
• Projected year-2 tax: $3,372 · $281/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,572
• − Mortgage interest: −$12,099
• − Property taxes: −$3,372
• − Insurance: −$1,080
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$6,284
• Taxable loss: −$4,714
• Est. tax savings @ 24.0%: +$1,131
• After-tax cash flow: $129/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): 13,746
• Household income: $69,578
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 222.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 22% Two or more races 11% Black 5% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 9% Cuban 3%
• Common ancestry: Romanian 2% Russian 2% Slovak 2%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 16% Other Asian/Pacific 2% Other Indo-European 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: ▼ -78.20%
• Current HPI: 225.3761
• Rent YoY: ▲ 1.65%
• 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

+266.1% since first listed

6 events — show timeline

• 2025-10-10 Pending — HAOR as distributed by MLS GRID
• 2025-10-01 Listed $216,000 HAOR as distributed by MLS GRID
• 2022-02-11 Sold (MLS) $237,000 HAOR as distributed by MLS GRID
• 2021-11-27 Listed $237,500 HAOR as distributed by MLS GRID
• 2006-01-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-12-01 Listed $59,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+39.3%/yr

Latest (2025): $3,372 · +0.1% YoY. Source: county tax records.