601 Highlands Lake Dr · Lake Placid, FL 33852

$180,000

3 bd · 2.0 ba · 1,298 sqft · Land · 311 Days on market

Built 2021 0.26 ac lot

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

For those looking to settle in the charming and peaceful community of Lake Placid, Florida, this property presents an exceptional opportunity. This is a brand-new, never-before-lived-in home, perfect for buyers seeking comfort, modern design, and a prime location. The home features a functional open-concept layout that seamlessly connects the living room, dining area, and kitchen, creating a welcoming space filled with natural light. The kitchen is beautifully appointed with quartz countertops and stainless steel appliances, combining style and practicality for everyday living. Per public records, there has been prior subsidence activity reported in the area (2011). Buyer to verify all info

Key facts

• Quartz countertops
• Natural light
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NATURAL LIGHT
• NO HOMEOWNERS ASSOCIATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $180k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (3.3% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.7% 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: schools D+, amenities F, commute 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.
• Market conditions: Rents flat; 1488 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $85k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 311 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 8.43%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.82% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-20,430
• Equity at exit: $26,839

10-year hold

• IRR: -5.5%
• Equity multiple: 0.67×
• Total profit: $-16,445
• Equity at exit: $15,563

Cash invested: $50,400 (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: 1488
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,741 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$35 /mo · $423/yr
• Insurance: −$75
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $196

Break-even live

Break-even rent $1,493

Max offer price $180,000

Occupancy floor 84%

Sensitivity live

Price	-10% $298	-5% $247	+0% $196	+5% $145	+10% $94
Rent	-10% $59	-5% $127	+0% $196	+5% $265	+10% $334
Rate	-1.0pp $287	-0.5pp $242	base $196	+0.5pp $149	+1.0pp $102

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-04-02
   status Pending
2. 2026-03-03
   price $180,000
3. 2026-01-31
   price $210,000
4. 2025-12-09
   status Active
5. 2025-12-01
   price $240,000
6. 2025-11-30
   historical
7. 2025-10-08
   price $250,000
8. 2025-08-19
   price $255,000
9. 2025-06-30
   price $260,000
10. 2025-05-17
    listed $264,900 Active
11. 2025-01-30
    soldstatus $145,000
12. 2024-04-25
    historical
13. 2024-03-08
    price $189,000
14. 2023-12-28
    listed $199,000 Active
15. 2023-06-13
    historical
16. 2023-06-02
    status Active
17. 2023-03-03
    status Active
18. 2023-03-03
    price $155,000
19. 2023-02-03
    price $160,000
20. 2022-12-13
    listed $165,000 Active
21. 2022-02-20
    historical
22. 2022-01-14
    listed $199,995
23. 2018-11-08
    soldstatus $18,812

ⓘ 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: $423 · $35/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$1,071/yr (+$89/mo · 253.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $20,894
• − Mortgage interest: −$10,083
• − Property taxes: −$423
• − Insurance: −$2,402
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$5,236
• Taxable loss: −$594
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $2,496/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

+856.8% since first listed

23 events — show timeline

• 2026-04-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $180,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-31 Price Changed $210,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-09 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $240,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-10-08 Price Changed $250,000 Stellar MLS as Distributed by MLS Grid
• 2025-08-19 Price Changed $255,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-30 Price Changed $260,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-17 Listed $264,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-30 Sold (Public Records) $145,000 Public Records
• 2024-04-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-08 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2023-12-28 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2023-06-13 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-06-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-03-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-03-03 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-03 Price Changed $160,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-13 Listed $165,000 Stellar MLS as Distributed by MLS Grid
• 2022-02-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-01-14 Listed $199,995 Stellar MLS as Distributed by MLS Grid
• 2018-11-08 Sold (Public Records) $18,812 Public Records

Property tax history

+19.4%/yr

Latest (2025): $423 · +7.2% YoY. Source: county tax records.