1111 NW 3rd St · Okeechobee, FL 34972

$190,000

3 bd · 1.0 ba · 1,510 sqft · SingleFamily public records · 4 Days on market

Built 1957 0.34 ac lot Est $305k · 38% under

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks

Welcome home to this charming 3-bedroom, 2-bath residence featuring a functional floor plan and desirable outdoor space. Highlights include a tankless water heater, metal roof approximately 10 years old per seller, central A/C, and a hidden closet safe room. The oversized backyard offers endless possibilities with plenty of room for entertaining, recreation, or a future pool. Whether you're looking for your next home or an investment opportunity, this property is one you won't want to miss. Schedule your showing today! Virtual Staging Disclaimer: "Some photographs have been virtually staged to illustrate the property's potential. Furnishings, décor, and other items shown in virt

Key facts

• Metal roof
• Central a/c
• Oversized backyard

Tags

• TANKLESS WATER HEATER
• METAL ROOF
• CENTRAL A/C
• HIDDEN CLOSET SAFE ROOM
• OVERSIZED BACKYARD

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: Attached carport; Two covered/carport spaces; Circular driveway; Two open parking spaces (total 2)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; One and one-half levels; Entry at level 1; North-facing
• Construction: Wood frame construction; Metal roof; One-story structure (one and one-half levels)
• Exterior features: Wood backyard fence; Front entry; Public maintained road access; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Wall or window AC unit(s)
• Interior features: Split bedroom layout
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 8.1% 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.
• Zoned schools: Central Elementary School (math 39% / reading 39%, grade F, #1,560 of 2,144 statewide, top 73%, 530 students, 76% FRL); Yearling Middle School (math 45% / reading 32%, grade F, #384 of 571 statewide, top 68%, 668 students, 70% FRL); Okeechobee High School (math 30% / reading 42%, grade F, #359 of 667 statewide, top 55%, 1,692 students, 62% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: 644 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).

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.
• Okeechobee County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $190k implies a 320% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $190,000

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $305,020
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
150 SW 20th Ter	0.39mi	2/2.0 (-1)	1,460 (-3%)	1mo	$177,000	$121	66
910 NW 5th St	0.30mi	3/2.0	1,428 (-5%)	9mo	$289,000	$202	66
908 NW 5th St	0.31mi	3/2.0	1,428 (-5%)	12mo	$290,000	$203	62
1646 NW 7th St	0.30mi	3/2.0	1,432 (-5%)	17mo	$325,000	$227	59
909 NW 3rd St	0.26mi	3/1.0	1,324 (-12%)	10mo	$220,000	$166	59
504 NW 6th St	0.60mi	2/1.0 (-1)	1,476 (-2%)	7mo	$225,000	$152	58
1987 NW 5th St	0.35mi	3/2.0	1,404 (-7%)	15mo	$186,500	$133	55
1757 SW 8th St	0.63mi	2/2.0 (-1)	1,470 (-3%)	8mo	$310,000	$211	51

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: -6.3%
• Equity multiple: 0.76×
• Total profit: $-12,506
• Equity at exit: $28,330

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $12,803
• Equity at exit: $16,428

Cash invested: $53,200 (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 34972

• Home prices YoY: -1.5%
• Active inventory: 644
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,072 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$275 /mo · $3,303/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $286

Break-even live

Break-even rent $1,710

Max offer price $190,000

Occupancy floor 81%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   days on market $190,000 Active 4 DOM
2. 2026-06-18
   days on market $190,000 Active 3 DOM
3. 2026-06-17
   days on market $190,000 Active 2 DOM
4. 2026-06-15
   remarks 687-char remark
5. 2026-06-15
   listed $190,000 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: $3,303 · $275/mo
• Projected year-2 tax: $3,303 · $275/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 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: $24,866
• − Mortgage interest: −$10,643
• − Property taxes: −$3,303
• − Insurance: −$950
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$5,527
• Taxable income: $464
• Est. tax owed @ 24.0%: −$111
• After-tax cash flow: $3,323/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

• Census place: Okeechobee, FL
• City population: 23,975
• Population (ZIP): 19,185

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Hispanic / Latino 30% Black 14% Two or more races 14%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1% Cuban 1%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 12% · Canada, Dominican Republic
• Languages at home: 77% English-only · Spanish 22% Other Indo-European 0%

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: ▼ -5.94%
• Current HPI: 389.1156
• Rent YoY: —
• Metro: —
• 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

+320.4% since first listed

2 events — show timeline

• 2026-06-15 Listed $190,000 Beaches MLS
• 2003-08-05 Sold (Public Records) $45,200 Public Records

Property tax history

+10.1%/yr

Latest (2025): $3,303 · +9.6% YoY. Source: county tax records.