16423 NW 262nd St · Okeechobee, FL 34972

$194,950

4 bd · 2.0 ba · 1,812 sqft · Manufactured public records · 185 Days on market

Built 2022 1.25 ac lot Est $281k · 31% under

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Why this score? — see what drove the B- 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.7/10.0
• 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 MLS

One or more photo(s) has been virtually staged. BRAND NEW 4 Bedroom 2 Bathroom 1,791 SqFt Clayton Built home on 1.25 Acres zoned AG!!! Model of home is the Morocco. This new home comes with premium vinyl plank flooring in the living areas and carpet in the bedrooms, stainless steel Frigidaire appliances, lux energy efficient double-paned windows, Duracraft cabinets, ecobee smart thermostat, inside utility room with washer and dryer hookups, coffee car, double sinks in Master bathroom, front fence with gate, and MORE!!! ALL OF THIS ON 1.25 ACRES WITH AG ZONING so you can bring your animals and toys! Plenty of room to add a barn/garage/shop/pool/etc.

Key facts

• Primary suite
• Wide-open views
• Nearly 1.5 acres

Tags

• NEARLY 1.5 ACRES
• CLEARED FENCED LAND
• OPEN-CONCEPT LAYOUT
• ABUNDANT NATURAL LIGHT
• PRIMARY SUITE
• WIDE-OPEN VIEWS

Property features AI

Finance

• Other: Property zoned A; Approximately 1.25 acres (1 to less than 2 acres)
• HOA & community: No HOA/association

Exterior

• Utilities: Well water; Septic tank; Other utilities
• Home design: Manufactured single-wide home; One story; Home faces south; Entry on one level
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation; Built on a single-wide manufactured home structure
• Exterior features: Other exterior features; Dirt road access

Interior

• Kitchen: Convection oven
• Bedrooms: 4 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Other interior features
• Laundry & utility: Laundry area located in the kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• 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

• It's been on market 185 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,556 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $280,860
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17018 260th St	0.42mi	4/2.0	1,685 (-7%)	9mo	$286,000	$170	62
17331 NW 264th St	0.57mi	3/2.0 (-1)	1,617 (-11%)	12mo	$250,000	$155	41
16006 NW 258 St	0.41mi	3/2.0 (-1)	1,568 (-14%)	21mo	$215,000	$137	36

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-7,479
• Equity at exit: $29,068

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $24,754
• Equity at exit: $16,856

Cash invested: $54,586 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,274 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$316 /mo · $3,790/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $377

Break-even live

Break-even rent $1,797

Max offer price $194,950

Occupancy floor 78%

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: $48,738
• Closing costs: $5,848
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-09
   status $194,950 Pending 185 DOM
2. 2026-06-08
   days on market $194,950 Active 185 DOM
3. 2026-06-07
   days on market $194,950 Active 184 DOM
4. 2026-06-05
   days on market $194,950 Active 181 DOM
5. 2026-06-03
   days on market $194,950 Active 180 DOM
6. 2026-06-02
   days on market $194,950 Active 179 DOM
7. 2026-06-01
   days on market $194,950 Active 178 DOM
8. 2026-05-31
   days on market $194,950 Active 177 DOM
9. 2026-05-30
   days on market $194,950 Active 176 DOM
10. 2026-05-11
    price $194,950
11. 2026-05-06
    status Active
12. 2026-05-05
    historical
13. 2026-03-26
    status Active
14. 2026-02-24
    status Pending
15. 2026-02-04
    price $204,950
16. 2026-01-06
    price $214,950
17. 2025-12-04
    price $234,950
18. 2025-11-04
    listed $244,950 Active
19. 2022-06-17
    soldstatus $285,000 Closed 656-char remark

    Show marketing remark (656 chars)

    One or more photo(s) has been virtually staged. BRAND NEW 4 Bedroom 2 Bathroom 1,791 SqFt Clayton Built home on 1.25 Acres zoned AG!!! Model of home is the Morocco. This new home comes with premium vinyl plank flooring in the living areas and carpet in the bedrooms, stainless steel Frigidaire appliances, lux energy efficient double-paned windows, Duracraft cabinets, ecobee smart thermostat, inside utility room with washer and dryer hookups, coffee car, double sinks in Master bathroom, front fence with gate, and MORE!!! ALL OF THIS ON 1.25 ACRES WITH AG ZONING so you can bring your animals and toys! Plenty of room to add a barn/garage/shop/pool/etc.

20. 2022-06-17
    soldstatus $250,000

    Show marketing remark (656 chars)

    One or more photo(s) has been virtually staged. BRAND NEW 4 Bedroom 2 Bathroom 1,791 SqFt Clayton Built home on 1.25 Acres zoned AG!!! Model of home is the Morocco. This new home comes with premium vinyl plank flooring in the living areas and carpet in the bedrooms, stainless steel Frigidaire appliances, lux energy efficient double-paned windows, Duracraft cabinets, ecobee smart thermostat, inside utility room with washer and dryer hookups, coffee car, double sinks in Master bathroom, front fence with gate, and MORE!!! ALL OF THIS ON 1.25 ACRES WITH AG ZONING so you can bring your animals and toys! Plenty of room to add a barn/garage/shop/pool/etc.

21. 2022-03-17
    status Pending 656-char remark

    Show marketing remark (656 chars)

    One or more photo(s) has been virtually staged. BRAND NEW 4 Bedroom 2 Bathroom 1,791 SqFt Clayton Built home on 1.25 Acres zoned AG!!! Model of home is the Morocco. This new home comes with premium vinyl plank flooring in the living areas and carpet in the bedrooms, stainless steel Frigidaire appliances, lux energy efficient double-paned windows, Duracraft cabinets, ecobee smart thermostat, inside utility room with washer and dryer hookups, coffee car, double sinks in Master bathroom, front fence with gate, and MORE!!! ALL OF THIS ON 1.25 ACRES WITH AG ZONING so you can bring your animals and toys! Plenty of room to add a barn/garage/shop/pool/etc.

22. 2022-03-11
    listed $285,000 Active 656-char remark

    Show marketing remark (656 chars)

    One or more photo(s) has been virtually staged. BRAND NEW 4 Bedroom 2 Bathroom 1,791 SqFt Clayton Built home on 1.25 Acres zoned AG!!! Model of home is the Morocco. This new home comes with premium vinyl plank flooring in the living areas and carpet in the bedrooms, stainless steel Frigidaire appliances, lux energy efficient double-paned windows, Duracraft cabinets, ecobee smart thermostat, inside utility room with washer and dryer hookups, coffee car, double sinks in Master bathroom, front fence with gate, and MORE!!! ALL OF THIS ON 1.25 ACRES WITH AG ZONING so you can bring your animals and toys! Plenty of room to add a barn/garage/shop/pool/etc.

23. 2022-03-10
    historical
24. 2022-02-16
    listed $285,000 Active
25. 2021-06-14
    listed $225,000 Active
26. 2021-05-05
    soldstatus $6,100
27. 2021-05-05
    soldstatus $11,000

ⓘ 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: $3,790 · $316/mo
• Projected year-2 tax: $3,790 · $316/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 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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: $27,292
• − Mortgage interest: −$10,920
• − Property taxes: −$3,790
• − Insurance: −$975
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$5,671
• Taxable income: $1,569
• Est. tax owed @ 24.0%: −$377
• After-tax cash flow: $4,151/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

+3095.9% since first listed

18 events — show timeline

• 2026-05-11 Price Changed $194,950 Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $204,950 Stellar MLS as Distributed by MLS Grid
• 2026-01-06 Price Changed $214,950 Stellar MLS as Distributed by MLS Grid
• 2025-12-04 Price Changed $234,950 Stellar MLS as Distributed by MLS Grid
• 2025-11-04 Listed $244,950 Stellar MLS as Distributed by MLS Grid
• 2022-06-17 Sold (Public Records) $250,000 Public Records
• 2022-06-17 Sold (MLS) $285,000 Stellar MLS as Distributed by MLS Grid
• 2022-03-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-03-11 Listed $285,000 Stellar MLS as Distributed by MLS Grid
• 2022-03-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-02-16 Listed $285,000 Stellar MLS as Distributed by MLS Grid
• 2021-06-14 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2021-05-05 Sold (Public Records) $11,000 Public Records
• 2021-05-05 Sold (Public Records) $6,100 Public Records

Property tax history

+31.1%/yr

Latest (2025): $3,790 · +1.5% YoY. Source: county tax records.