1474 Lake Dr · Buckhead Ridge, FL 34974

$98,500

2 bd · 1.0 ba · 1,178 sqft · Manufactured public records · 84 Days on market

Built 1974 7,667 sqft lot $84/sqft · 34% below area Est $150k · 34% under ↓ 51% 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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE REDUCTION!! ~Buckhead Ridge~ This spacious 3 bedroom fixer-upper has real potential in a desirable location. Brimming with potential and endless possibilities this boasting 2874 sq ft resident is ready to be transformed. The property has a good seawall on a nice wide deep canal just minutes from the lock to Lake Okeechobee. Motivated seller!! All measurements are approximate.

Key facts

• 7,667 sq ft lot
• 2 parking spots
• Built 1974

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.2% in Buckhead Ridge — 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 61/100 on livability (#785 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Glades (town): math 38% / reading 41% proficiency, ranked #63 of 73 in FL (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 402 active listings in the ZIP; 65 units permitted in Glades County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% 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 $681 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Glades County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $66k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,590 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.27%
• DSCR: 1.72
• GRM: 5.6

CMA / ARV

• ARV (median comp): $150,000
• List price: $98,500
• Delta: -34.33%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1474 Lake Dr	0.00mi	3/1.5 (+1)	1,178 (0%)	1mo	$80,000	$68	92
1254 Chobee Loop	0.25mi	2/2.0	1,184 (+0%)	12mo	$145,000	$122	74
1558 Chobee St	0.26mi	2/2.0	1,248 (+6%)	4mo	$265,000	$212	70
1054 21st St	0.16mi	3/2.0 (+1)	1,296 (+10%)	2mo	$245,000	$189	65
1044 22nd St	0.16mi	3/2.0 (+1)	1,025 (-13%)	3mo	$145,500	$142	59
1067 Palm Ct	0.35mi	3/2.0 (+1)	1,066 (-10%)	2mo	$205,000	$192	57
1414 Hunter Rd	0.34mi	2/2.0	1,100 (-7%)	15mo	$207,900	$189	57
1028 Peach Ln	0.19mi	3/2.0 (+1)	1,316 (+12%)	13mo	$230,000	$175	52
1103 Lemon St	0.39mi	2/2.0	1,012 (-14%)	4mo	$150,000	$148	51
1066 9th St	0.74mi	2/2.0	1,222 (+4%)	6mo	$265,000	$217	50
1061 Lake Cir	0.53mi	2/2.0	1,091 (-7%)	12mo	$150,000	$137	49
1097 9th St	0.74mi	2/2.0	1,042 (-12%)	16mo	$160,000	$154	29

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: 7.4%
• Equity multiple: 1.29×
• Total profit: $7,942
• Equity at exit: $14,687

10-year hold

• IRR: 16.7%
• Equity multiple: 2.38×
• Total profit: $37,942
• Equity at exit: $8,516

Cash invested: $27,580 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,472 medium
• Mortgage (P&I): −$517
• Tax from tax record: −$231 /mo · $2,775/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $374

Break-even live

Break-even rent $999

Max offer price $98,500

Occupancy floor 70%

Sensitivity live

Price	-10% $430	-5% $402	+0% $374	+5% $346	+10% $318
Rent	-10% $258	-5% $316	+0% $374	+5% $432	+10% $490
Rate	-1.0pp $424	-0.5pp $399	base $374	+0.5pp $348	+1.0pp $322

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-03
   days on market $98,500 Active 84 DOM
2. 2026-06-02
   days on market $98,500 Active 83 DOM
3. 2026-06-01
   days on market $98,500 Active 82 DOM
4. 2026-05-31
   days on market $98,500 Active 81 DOM
5. 2026-05-30
   days on market $98,500 Active 80 DOM
6. 2026-05-19
   price $98,500
7. 2026-03-30
   price $140,000
8. 2026-02-11
   price $165,000 384-char remark

   Show marketing remark (384 chars)

   PRICE REDUCTION!! ~Buckhead Ridge~ This spacious 3 bedroom fixer-upper has real potential in a desirable location. Brimming with potential and endless possibilities this boasting 2874 sq ft resident is ready to be transformed. The property has a good seawall on a nice wide deep canal just minutes from the lock to Lake Okeechobee. Motivated seller!! All measurements are approximate.

9. 2025-10-27
   listed $165,000 Active
10. 2025-09-06
    price $175,000 384-char remark

    Show marketing remark (384 chars)

    PRICE REDUCTION!! ~Buckhead Ridge~ This spacious 3 bedroom fixer-upper has real potential in a desirable location. Brimming with potential and endless possibilities this boasting 2874 sq ft resident is ready to be transformed. The property has a good seawall on a nice wide deep canal just minutes from the lock to Lake Okeechobee. Motivated seller!! All measurements are approximate.

11. 2025-04-22
    listed $199,000 Active 384-char remark

    Show marketing remark (384 chars)

    PRICE REDUCTION!! ~Buckhead Ridge~ This spacious 3 bedroom fixer-upper has real potential in a desirable location. Brimming with potential and endless possibilities this boasting 2874 sq ft resident is ready to be transformed. The property has a good seawall on a nice wide deep canal just minutes from the lock to Lake Okeechobee. Motivated seller!! All measurements are approximate.

ⓘ 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: $2,775 · $231/mo
• Projected year-2 tax: $2,775 · $231/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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,662
• − Mortgage interest: −$5,518
• − Property taxes: −$2,775
• − Insurance: −$492
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − Depreciation: −$2,865
• Taxable income: $3,186
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $3,722/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: Glades
• NCES district ID: 1200660
• Math proficiency: 38% ▼ -15.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $36,758
• Composite: 32.81/100
• National rank: #5622
• State rank: #63 of 73 in FL

Livability — Buckhead Ridge

• Score: 61/100
• State rank: #785
• US rank: #17876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buckhead Ridge, FL
• County: Okeechobee County · 23,975 people
• 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 (Glades County) Hauer SSP2

• Today (2025): 14,901 people
• By 2030: 15,463 · +3.8%
• By 2040: 16,341 · +9.7%
• By 2050: 17,158 · +15.1%
• By 2075: 18,881 · +26.7%
• By 2100: 19,164 · +28.6%

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 · Glades

• 2024 margin: Solid R (+53.3) · D 23.1% · R 76.4%
• 2008→2024 swing: -36.7pp toward R · 2008: -16.6pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+46.2 2016: R+39.6 2012: R+18.6 2008: R+16.6

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

-50.5% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $98,500 Beaches MLS
• 2026-03-30 Price Changed $140,000 Beaches MLS
• 2026-02-11 Price Changed $165,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-27 Listed $165,000 Beaches MLS
• 2025-09-06 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-22 Listed $199,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+37.6%/yr

Latest (2025): $2,775 · +1782.6% YoY. Source: county tax records.