3496 NW 24th Ave · Okeechobee, FL 34972

$240,000

2 bd · 1.0 ba · 1,081 sqft · SingleFamily public records · 53 Days on market

Built 1969 0.36 ac lot Est $243k · at est.

---

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 +11.8/30.0
• ARV discount +8.1/15.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks

Welcome to this beautifully updated 3 bedroom, 1 bathroom home, where modern comfort meets timeless farmhouse charm. Fully remodeled in 2023, this farmhouse chic retreat features stylish finishes and thoughtful upgrades. Attic is fully insulated creating a low monthly electric bill! Step inside to find a bright living space with updated flooring, and a refreshed kitchen. In addition to the oversized lot with lots of space, you'll fall in love with the expansive outdoor area complete with 3 connected, anchored pavilions, ideal for entertaining, relaxing, or creating your own backyard oasis. Whether you're gathering with friends or enjoying a quiet evening , this property offers the perfect b

Key facts

• Updated flooring
• Oversized lot
• Outdoor storage shed

Tags

• UPDATED FLOORING
• REFRESHED KITCHEN
• OVERSIZED LOT
• EXPANSIVE OUTDOOR AREA
• OUTDOOR STORAGE SHED

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: Concrete parking; 4 open parking spaces (total 4)
• Utilities: Well water; Septic tank; Electricity connected; Water connected; Sewer not available
• Home design: Single family residence; One story; Resale property; Faces east
• Construction: CBS construction; Shingle roof; Permanent foundation; Built as a one-story structure
• Exterior features: Oversized lot; Gazebo; Shed(s); Chain link fencing; Paved, public-maintained city street frontage; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Closet cabinetry; Double pane windows
• Laundry & utility: Laundry room; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (21.1% below list).
• Recommended offer: $189k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Seminole Elementary School (math 57% / reading 54%, grade C, #855 of 2,144 statewide, top 41%, 502 students, 75% 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 53 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $19k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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 $189,314 (21.1% 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. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.79% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $243,225
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3382 NW 22nd Ave	0.14mi	3/2.0 (+1)	1,066 (-1%)	2mo	$260,000	$244	81
3534 NW 24th Ave	0.03mi	3/1.0 (+1)	1,104 (+2%)	23mo	$165,000	$149	71
3966 NW 20th Ave	0.38mi	2/2.0	1,158 (+7%)	4mo	$220,000	$190	63
3935 NW 17th Ave	0.48mi	3/1.0 (+1)	1,152 (+7%)	13mo	$259,500	$225	51
3704 NW 36th Ave	0.74mi	2/1.0	999 (-8%)	9mo	$215,000	$215	45
2943 NW 32nd Ave	0.63mi	3/2.0 (+1)	1,164 (+8%)	19mo	$284,000	$244	33
3307 NW 35th Ave	0.71mi	3/2.0 (+1)	1,151 (+6%)	22mo	$270,000	$235	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: -22.0%
• Equity multiple: 0.24×
• Total profit: $-50,938
• Equity at exit: $35,785

10-year hold

• IRR: -15.8%
• Equity multiple: 0.11×
• Total profit: $-59,744
• Equity at exit: $20,751

Cash invested: $67,200 (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: 10.6×

Monthly cashflow live

• Estimated rent: $1,893 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$202 /mo · $2,420/yr
• Insurance: −$100
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-190

Break-even live

Break-even rent $2,133

Max offer price $206,459

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-122	+0% $-190	+5% $-258	+10% $-326
Rent	-10% $-339	-5% $-265	+0% $-190	+5% $-115	+10% $-40
Rate	-1.0pp $-69	-0.5pp $-129	base $-190	+0.5pp $-252	+1.0pp $-315

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-19
   days on market $240,000 Active 53 DOM
2. 2026-06-18
   days on market $240,000 Active 52 DOM
3. 2026-06-17
   days on market $240,000 Active 51 DOM
4. 2026-06-16
   days on market $240,000 Active 50 DOM
5. 2026-06-15
   days on market $240,000 Active 49 DOM
6. 2026-06-14
   days on market $240,000 Active 47 DOM
7. 2026-06-10
   days on market $240,000 Active 44 DOM
8. 2026-06-09
   days on market $240,000 Active 43 DOM
9. 2026-06-08
   days on market $240,000 Active 42 DOM
10. 2026-06-07
    days on market $240,000 Active 41 DOM
11. 2026-06-05
    days on market $240,000 Active 38 DOM
12. 2026-06-03
    days on market $240,000 Active 37 DOM
13. 2026-06-02
    days on market $240,000 Active 36 DOM
14. 2026-06-01
    days on market $240,000 Active 35 DOM
15. 2026-06-01
    price $240,000 Active 34 DOM
16. 2026-05-31
    days on market $245,000 Active 34 DOM
17. 2026-05-30
    days on market $245,000 Active 33 DOM
18. 2026-05-12
    price $245,000
19. 2026-05-04
    price $249,000
20. 2026-04-24
    listed $259,000 Active
21. 2023-08-30
    soldstatus $229,000
22. 2023-06-19
    historical
23. 2023-05-01
    listed $229,000 Active
24. 2022-12-08
    historical
25. 2022-09-26
    listed $225,000 Active
26. 2021-07-12
    soldstatus $61,500 Closed
27. 2021-06-30
    historical Active Under Contract
28. 2021-06-16
    listed $53,000 Active
29. 1978-06-01
    soldstatus $15,000
30. 1978-06-01
    soldstatus $15,000

ⓘ 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: $2,420 · $202/mo
• Projected year-2 tax: $2,420 · $202/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,718
• − Mortgage interest: −$13,444
• − Property taxes: −$2,420
• − Insurance: −$2,702
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$6,982
• Taxable loss: −$6,465
• Est. tax savings @ 24.0%: +$1,552
• After-tax cash flow: $-727/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

• 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

+1533.3% since first listed

13 events — show timeline

• 2026-05-12 Price Changed $245,000 Beaches MLS
• 2026-05-04 Price Changed $249,000 Beaches MLS
• 2026-04-24 Listed $259,000 Beaches MLS
• 2023-08-30 Sold (Public Records) $229,000 Public Records
• 2023-06-19 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-05-01 Listed $229,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-09-26 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-12 Sold (MLS) $61,500 Beaches MLS
• 2021-06-30 Contingent — Beaches MLS
• 2021-06-16 Listed $53,000 Beaches MLS
• 1978-06-01 Sold (Public Records) $15,000 Public Records
• 1978-06-01 Sold (Public Records) $15,000 Public Records

Property tax history

+18.5%/yr

Latest (2025): $2,420 · +3.9% YoY. Source: county tax records.