12368 SW Lexington Pl · Harbour Heights, FL 34269

$215,000

3 bd · 2.0 ba · 2,052 sqft · Manufactured · 13 Days on market

Built 1995 0.62 ac lot

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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 +13.0/30.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.6/10.0

Listing remarks MLS

Nice lot in a desirable area with beautiful large oaks with a mobile that needs repairs. The property is being sold as vacant land and is a short distance from I-75 and just around the corner from Kings Hwy. Close to Arcadia or enjoy gulf at the new golf course being re-modeled in the area.

Key facts

• Fully fenced
• Paved driveway
• Gated entrance

Tags

• FULLY FENCED
• PAVED DRIVEWAY
• GATED ENTRANCE
• OPEN-CONCEPT LAYOUT
• WOOD LAMINATE FLOORING
• SHAKER STYLE CABINET STORAGE

Property features AI

Finance

• Other: Zoned RMF-M; Lot size approximately 0.62 acres (135 x 200); Public-maintained paved road access
• HOA & community: No HOA/association; Pets allowed

Exterior

• Parking: Boat parking; Driveway parking; Oversized parking
• Utilities: Well water; Septic system; Electricity available and connected; Cable available
• Home design: Manufactured double-wide home; Single-story; Faces west; Homestead eligible
• Construction: Vinyl siding; Metal roof; Built on crawlspace and slab foundation
• Exterior features: Patio; Exterior lighting; Rain gutters; Cleared, oversized lot on a paved dead-end street

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Living area reported as 2052 square feet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; Open floor plan; Living room/dining room combo; Split bedroom layout
• Laundry & utility: Washer hookup; Dryer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $-13 ($-162/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (11.5% below list).
• Recommended offer: $190k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.0% in Harbour Heights — 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 64/100 on livability (#684 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: schools F, amenities F, commute F.
• Desoto (town): math 31% / reading 32% proficiency, ranked #69 of 73 in FL (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 149 active listings in the ZIP; 71 units permitted in DeSoto 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.
• DeSoto County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $215k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,206 (11.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-35,652
• Equity at exit: $32,057

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-31,959
• Equity at exit: $18,589

Cash invested: $60,200 (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 34269

• Home prices YoY: -2.9%
• Active inventory: 149
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,902 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$299 /mo · $3,589/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-13

Break-even live

Break-even rent $1,919

Max offer price $212,616

Occupancy floor 96%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-22
   status Pending
2. 2026-04-09
   listed $215,000 Active
3. 2021-09-24
   soldstatus $70,000
4. 2019-09-23
   soldstatus $50,000
5. 2019-09-20
   soldstatus $25,000 Sold 291-char remark

   Show marketing remark (291 chars)

   Nice lot in a desirable area with beautiful large oaks with a mobile that needs repairs. The property is being sold as vacant land and is a short distance from I-75 and just around the corner from Kings Hwy. Close to Arcadia or enjoy gulf at the new golf course being re-modeled in the area.

6. 2019-08-09
   status Pending 291-char remark

   Show marketing remark (291 chars)

   Nice lot in a desirable area with beautiful large oaks with a mobile that needs repairs. The property is being sold as vacant land and is a short distance from I-75 and just around the corner from Kings Hwy. Close to Arcadia or enjoy gulf at the new golf course being re-modeled in the area.

7. 2019-08-06
   listed $25,000 Active 291-char remark

   Show marketing remark (291 chars)

   Nice lot in a desirable area with beautiful large oaks with a mobile that needs repairs. The property is being sold as vacant land and is a short distance from I-75 and just around the corner from Kings Hwy. Close to Arcadia or enjoy gulf at the new golf course being re-modeled in the area.

8. 2008-07-14
   soldstatus $19,000
9. 2002-10-08
   soldstatus $50,000

ⓘ 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: $3,589 · $299/mo
• Projected year-2 tax: $3,589 · $299/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 27 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: $22,825
• − Mortgage interest: −$12,043
• − Property taxes: −$3,589
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$6,255
• Taxable loss: −$3,789
• Est. tax savings @ 24.0%: +$909
• After-tax cash flow: $747/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: Desoto
• NCES district ID: 1200420
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 32% ▼ -3.00%
• Median HH income: $35,136
• Composite: 26.03/100
• National rank: #7305
• State rank: #69 of 73 in FL

Livability — Harbour Heights

• Score: 64/100
• State rank: #684
• US rank: #14202

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,111

Population outlook (DeSoto County) Hauer SSP2

• Today (2025): 34,958 people
• By 2030: 34,465 · -1.4%
• By 2040: 33,137 · -5.2%
• By 2050: 31,273 · -10.5%
• By 2075: 23,898 · -31.6%
• By 2100: 15,517 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 10% Two or more races 7% Black 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · DeSoto

• 2024 margin: Solid R (+42.9) · D 28.2% · R 71.2%
• 2008→2024 swing: -30.6pp toward R · 2008: -12.3pp · 2024: -42.9pp
• All cycles: 2024: R+42.9 2020: R+32.0 2016: R+27.7 2012: R+14.3 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.77%
• Current HPI: 297.0303
• 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

+330.0% since first listed

9 events — show timeline

• 2026-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-09 Listed $215,000 Stellar MLS as Distributed by MLS Grid
• 2021-09-24 Sold (Public Records) $70,000 Public Records
• 2019-09-23 Sold (Public Records) $50,000 Public Records
• 2019-09-20 Sold (MLS) $25,000 Stellar MLS as Distributed by MLS Grid
• 2019-08-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-08-06 Listed $25,000 Stellar MLS as Distributed by MLS Grid
• 2008-07-14 Sold (Public Records) $19,000 Public Records
• 2002-10-08 Sold (Public Records) $50,000 Public Records

Property tax history

+22.7%/yr

Latest (2025): $3,589 · +3.1% YoY. Source: county tax records.