504 Thunderbird Hill Rd

Sebring, FL 33872

$75,000B+

3 bd · 3.0 ba · 1,632 sqft · Built 1987 · Manufactured · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,498/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $665/mo
• Annual: $7,984/yr
• Cap rate: 16.94%
• Cash-on-cash: 38.02%
• DSCR: 2.69
• 1% rule: 2.00%
• Cash to close: $21,000

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $75k. Condition is rated good.
• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 157 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: 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: Sun 'N Lake Elementary School (math 63% / reading 59%, grade B, #653 of 2,144 statewide, top 31%, 618 students, 67% FRL); Sebring Middle School (math 52% / reading 40%, grade D+, #300 of 571 statewide, top 53%, 815 students, 64% FRL); Sebring High School (math 32% / reading 48%, grade F, #296 of 667 statewide, top 45%, 1,809 students, 56% FRL).
• Market conditions: Rents rising (+1.6%/yr); 1210 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 16.9% vs local median 4.7% 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.

Questions for listing agent

• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: porch railings — The railings appear to be made of wood and may need touch-up paint.