120 Pine Tree Dr · Lake Placid, FL 33852

$222,000

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 9 Days on market

Built 2003 0.91 ac lot Est $259k · 14% under · waterfront

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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).

• ARV discount +13.9/15.0
• Cash flow +12.9/30.0
• DSCR +3.9/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +2.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lake-Country Home on 1 Acre, AG zoning, on Persimmon airstrip (membership required must be approved) so you can fly your own Cessna home. Built 2003, 3 Bedroom, 2 Bath, 1560 living sq ft, 1880 total sq ft. Ride your bike to the public lakefront Persimmon park. Really friendly neighborhood. Across the street it’s so fun to watch the horse get worked. Huge 32x10, screened in rear porch that almost runs the entire back of the home. Large oversized 12ft x 30ft shed with electric out to it, roll up door and a regular door. Fenced dog run. Newer metal roof. Brand new "top of the line" Waterproof (LifeProof) flooring. Interior completely repainted nice neutral color. Really nice large open layout with master bedroom on one side and second and third bedroom on the other. Eat in-kitchen is open to the living room and is huge with tons of cabinets and center island which has seating. All financing options available such as VA, FHA! No owner financing available.

Key facts

• Natural lighting
• Cathedral ceilings
• Zoned agriculture

Tags

• NEARLY AN ACRE OF LAND
• ZONED AGRICULTURE
• LARGE OPEN LIVING SPACES
• NATURAL LIGHTING
• CATHEDRAL CEILINGS
• FULL OF CABINETRY

Property features AI

Finance

• Other: Zoning: AU

Exterior

• Parking: 2 parking spaces; RV access/parking
• Utilities: Public water; Septic tank sewer
• Home design: Mobile home (single-story)
• Construction: Frame construction with metal siding; Shingle roof; Manufactured by Skyline
• Exterior features: Front porch; Rear porch; Paved road access; 130 ft frontage

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Electric water heater
• Flooring: Laminate flooring; Simulated wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Window blinds; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $222k.

Deal economics

• At list price, monthly cash flow is $-17 ($-201/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (23.4% below list).
• Recommended offer: $170k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.8% in Lake Placid — 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 68/100 on livability (#525 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Lake Placid Elementary School (math 32% / reading 29%, grade F, #1,862 of 2,144 statewide, top 88%, 594 students, 80% FRL); Lake Placid Middle School (math 42% / reading 33%, grade F, #395 of 571 statewide, top 70%, 621 students, 75% FRL); Lake Placid High School (math 36% / reading 35%, grade F, #367 of 667 statewide, top 57%, 868 students, 66% FRL).
• Market conditions: Rents flat; 1493 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• This rent runs 38% of the median local income ($54k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.
• Current owner paid $190k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $169,974 (23.4% 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $259,038
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Pine Tree Dr	0.05mi	3/2.0	1,744 (+12%)	4mo	$100,000	$57	75
162 Hillside Dr	0.48mi	3/3.0	1,584 (+2%)	1mo	$255,000	$161	70
27 Venetian Pkwy	0.63mi	2/2.0 (-1)	1,620 (+4%)	2mo	$169,900	$105	57
10 Venetian Pkwy	0.72mi	2/2.0 (-1)	1,384 (-11%)	18mo	$170,000	$123	28

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 · 0.82% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.34×
• Total profit: $-40,773
• Equity at exit: $33,101

10-year hold

• IRR: -16.3%
• Equity multiple: 0.17×
• Total profit: $-51,546
• Equity at exit: $19,195

Cash invested: $62,160 (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 33852

• Rents YoY: 0.8%
• Active inventory: 1493
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$1,164
• Tax from tax record: −$103 /mo · $1,235/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-17

Break-even live

Break-even rent $1,721

Max offer price $219,035

Occupancy floor 96%

Sensitivity live

Price	-10% $109	-5% $46	+0% $-17	+5% $-80	+10% $-142
Rent	-10% $-151	-5% $-84	+0% $-17	+5% $50	+10% $117
Rate	-1.0pp $95	-0.5pp $40	base $-17	+0.5pp $-74	+1.0pp $-133

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   remarks 685-char remark
2. 2026-06-21
   days on market $222,000 Active 9 DOM
3. 2026-06-19
   days on market $222,000 Active 7 DOM
4. 2026-06-18
   days on market $222,000 Active 6 DOM
5. 2026-06-17
   days on market $222,000 Active 5 DOM
6. 2026-06-16
   days on market $222,000 Active 4 DOM
7. 2026-06-15
   days on market $222,000 Active 3 DOM
8. 2026-06-14
   remarks 677-char remark
9. 2026-06-14
   listed $222,000 Active 1 DOM

ⓘ 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: $1,235 · $103/mo
• Projected year-2 tax: $1,843 · $154/mo
• Expected delta: +$608/yr (+$51/mo · 49.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,397
• − Mortgage interest: −$12,435
• − Property taxes: −$1,235
• − Insurance: −$1,110
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$6,458
• Taxable loss: −$4,105
• Est. tax savings @ 24.0%: +$985
• After-tax cash flow: $784/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 — Lake Placid

• Score: 68/100
• State rank: #525
• US rank: #9813

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing B- 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: 22,600
• Metro: Sebring-Avon Park, FL
• Population (ZIP): 22,600
• Household income: $54,284
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 439.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 22% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 14% · Canada, Dominican Republic
• Languages at home: 79% English-only · Spanish 19% 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: ▼ -203.31%
• Current HPI: 224.8693
• Rent YoY: ▲ 0.82%
• 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

+149.4% since first listed

10 events — show timeline

• 2026-06-12 Listed $222,000 HAOR as distributed by MLS GRID
• 2023-04-21 Sold (Public Records) $189,900 Public Records
• 2023-04-11 Sold (MLS) $189,900 HAOR as distributed by MLS GRID
• 2023-03-01 Contingent — HAOR as distributed by MLS GRID
• 2023-02-12 Relisted — HAOR as distributed by MLS GRID
• 2023-02-06 Pending — HAOR as distributed by MLS GRID
• 2023-02-04 Listed $189,900 HAOR as distributed by MLS GRID
• 2017-01-27 Sold (Public Records) $85,000 Public Records
• 2017-01-25 Sold (MLS) $85,000 HAOR as distributed by MLS GRID
• 2016-04-06 Listed $89,000 HAOR as distributed by MLS GRID

Property tax history

+7.5%/yr

Latest (2025): $1,235 · -7.3% YoY. Source: county tax records.