1520 Hunter Rd · Buckhead Ridge, FL 34974

$235,000

3 bd · 1.0 ba · 760 sqft · MultiFamily public records · 147 Days on market

Built 1962 6,490 sqft 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming 3 bedroom waterfront home with a detached 1 bedroom, 1 bath secondary dwelling/guest house. New luxury vinyl flooring and fresh paint throughout both units. Nicely updated bathrooms and new stainless steel appliances in the kitchen in the main house. The guest house features water views and has endless potential as an airbnb, mother-in-law suite, home office, etc... NEW Seawall installed and dock. the 1 bedroom is currently rented cashflowing --

Key facts

• Water views
• Waterfront home
• New seawall

Tags

• WATERFRONT HOME
• DETACHED GUEST HOUSE
• UPDATED BATHROOMS
• STAINLESS STEEL APPLIANCES
• WATER VIEWS
• NEW SEAWALL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.2% in Buckhead Ridge — 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 61/100 on livability (#785 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Glades (town): math 38% / reading 41% proficiency, ranked #63 of 73 in FL (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 402 active listings in the ZIP; 65 units permitted in Glades County in 2024 (0 in 5+ unit buildings).
• At $2,449/mo this rent would consume 55% of the median local household income ($53k/yr) (locally 399% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Glades County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 4y 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 $115k; list at $235k implies a 104% 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; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 8.0

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-12,175
• Equity at exit: $35,039

10-year hold

• IRR: 4.7%
• Equity multiple: 1.34×
• Total profit: $22,692
• Equity at exit: $20,319

Cash invested: $65,800 (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 34974

• Home prices YoY: -15.6%
• Active inventory: 402
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $2,449 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$197 /mo · $2,368/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $407

Break-even live

Break-even rent $1,934

Max offer price $235,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,385
1× unit	1	1	$1,064
Total (2 units)			$2,449

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-03
   days on market $235,000 Active 147 DOM
2. 2026-06-02
   days on market $235,000 Active 146 DOM
3. 2026-06-01
   days on market $235,000 Active 145 DOM
4. 2026-05-31
   days on market $235,000 Active 144 DOM
5. 2026-05-30
   days on market $235,000 Active 143 DOM
6. 2026-03-25
   status Active 458-char remark

   Show marketing remark (458 chars)

   Charming 3 bedroom waterfront home with a detached 1 bedroom, 1 bath secondary dwelling/guest house. New luxury vinyl flooring and fresh paint throughout both units. Nicely updated bathrooms and new stainless steel appliances in the kitchen in the main house. The guest house features water views and has endless potential as an airbnb, mother-in-law suite, home office, etc... NEW Seawall installed and dock. the 1 bedroom is currently rented cashflowing --

7. 2026-03-16
   historical Active Under Contract 458-char remark

   Show marketing remark (458 chars)

   Charming 3 bedroom waterfront home with a detached 1 bedroom, 1 bath secondary dwelling/guest house. New luxury vinyl flooring and fresh paint throughout both units. Nicely updated bathrooms and new stainless steel appliances in the kitchen in the main house. The guest house features water views and has endless potential as an airbnb, mother-in-law suite, home office, etc... NEW Seawall installed and dock. the 1 bedroom is currently rented cashflowing --

8. 2026-01-28
   price $235,000 458-char remark

   Show marketing remark (458 chars)

   Charming 3 bedroom waterfront home with a detached 1 bedroom, 1 bath secondary dwelling/guest house. New luxury vinyl flooring and fresh paint throughout both units. Nicely updated bathrooms and new stainless steel appliances in the kitchen in the main house. The guest house features water views and has endless potential as an airbnb, mother-in-law suite, home office, etc... NEW Seawall installed and dock. the 1 bedroom is currently rented cashflowing --

9. 2026-01-06
   historical

   Show marketing remark (458 chars)

   Charming 3 bedroom waterfront home with a detached 1 bedroom, 1 bath secondary dwelling/guest house. New luxury vinyl flooring and fresh paint throughout both units. Nicely updated bathrooms and new stainless steel appliances in the kitchen in the main house. The guest house features water views and has endless potential as an airbnb, mother-in-law suite, home office, etc... NEW Seawall installed and dock. the 1 bedroom is currently rented cashflowing --

10. 2026-01-06
    listed $244,000 Active 458-char remark

    Show marketing remark (458 chars)

    Charming 3 bedroom waterfront home with a detached 1 bedroom, 1 bath secondary dwelling/guest house. New luxury vinyl flooring and fresh paint throughout both units. Nicely updated bathrooms and new stainless steel appliances in the kitchen in the main house. The guest house features water views and has endless potential as an airbnb, mother-in-law suite, home office, etc... NEW Seawall installed and dock. the 1 bedroom is currently rented cashflowing --

11. 2025-07-02
    price $244,000
12. 2025-06-12
    price $245,000
13. 2025-05-22
    price $249,000
14. 2025-05-14
    price $255,000
15. 2025-05-07
    price $259,000
16. 2025-04-29
    price $265,000
17. 2025-04-24
    price $275,000
18. 2025-04-14
    listed $279,000 Active
19. 2024-04-29
    historical $875
20. 2024-04-29
    historical $875
21. 2024-04-06
    listed $875
22. 2024-04-06
    listed $1,550
23. 2024-04-03
    historical
24. 2024-04-03
    historical
25. 2024-04-02
    historical $1,500
26. 2024-04-02
    listed $1,500
27. 2024-04-02
    historical $1,500
28. 2024-03-26
    listed $1,500
29. 2024-01-02
    listed $249,500 Active
30. 2024-01-02
    listed $249,500 Active
31. 2023-07-21
    historical
32. 2023-05-16
    historical
33. 2023-05-16
    historical
34. 2023-04-28
    price $199,000
35. 2023-04-28
    price $199,000
36. 2023-04-14
    price $204,900
37. 2023-04-14
    price $204,900
38. 2023-04-14
    historical
39. 2023-03-29
    price $216,000
40. 2023-03-29
    price $216,000
41. 2023-03-29
    price $216,000
42. 2023-02-24
    price $216,500
43. 2023-02-24
    price $216,500
44. 2023-02-24
    price $216,500
45. 2023-02-17
    price $217,500
46. 2023-02-17
    price $217,500
47. 2023-02-17
    price $217,500
48. 2023-02-08
    price $221,000
49. 2023-02-08
    price $221,000
50. 2023-02-08
    price $221,000

ⓘ 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: $2,368 · $197/mo
• Projected year-2 tax: $2,368 · $197/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,388
• − Mortgage interest: −$13,164
• − Property taxes: −$2,368
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,351
• − Management: −$2,351
• − Depreciation: −$6,836
• Taxable income: $1,143
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $4,611/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: Glades
• NCES district ID: 1200660
• Math proficiency: 38% ▼ -15.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $36,758
• Composite: 32.81/100
• National rank: #5622
• State rank: #63 of 73 in FL

Livability — Buckhead Ridge

• Score: 61/100
• State rank: #785
• US rank: #17876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buckhead Ridge, FL
• County: Okeechobee County · 23,975 people
• Metro: Okeechobee, FL
• Population (ZIP): 23,975
• Household income: $53,013
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 399.0

Population outlook (Glades County) Hauer SSP2

• Today (2025): 14,901 people
• By 2030: 15,463 · +3.8%
• By 2040: 16,341 · +9.7%
• By 2050: 17,158 · +15.1%
• By 2075: 18,881 · +26.7%
• By 2100: 19,164 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 8% Asian 2% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1% Cuban 2%
• Common ancestry: Lithuanian 2% Iranian 2% Italian 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 16% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Glades

• 2024 margin: Solid R (+53.3) · D 23.1% · R 76.4%
• 2008→2024 swing: -36.7pp toward R · 2008: -16.6pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+46.2 2016: R+39.6 2012: R+18.6 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.47%
• Current HPI: 348.6692
• Rent YoY: —
• Metro: Okeechobee, 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

+113.6% since first listed

66 events — show timeline

• 2026-03-25 Relisted — Beaches MLS
• 2026-03-16 Contingent — Beaches MLS
• 2026-01-28 Price Changed $235,000 Beaches MLS
• 2026-01-06 Listed $244,000 Beaches MLS
• 2026-01-06 Listing Removed — Beaches MLS
• 2025-07-02 Price Changed $244,000 Beaches MLS
• 2025-06-12 Price Changed $245,000 Beaches MLS
• 2025-05-22 Price Changed $249,000 Beaches MLS
• 2025-05-14 Price Changed $255,000 Beaches MLS
• 2025-05-07 Price Changed $259,000 Beaches MLS
• 2025-04-29 Price Changed $265,000 Beaches MLS
• 2025-04-24 Price Changed $275,000 Beaches MLS
• 2025-04-14 Listed $279,000 Beaches MLS
• 2024-04-29 Rental Removed $875 RMLSFL
• 2024-04-29 Rental Removed $875 RMLSFL
• 2024-04-06 Listed for Rent $875 RMLSFL
• 2024-04-06 Listed for Rent $1,550 RMLSFL
• 2024-04-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-04-03 Listing Removed — Beaches MLS
• 2024-04-02 Rental Removed $1,500 RMLSFL
• 2024-04-02 Listed for Rent $1,500 RMLSFL
• 2024-04-02 Rental Removed $1,500 GFLMLS
• 2024-03-26 Listed for Rent $1,500 GFLMLS
• 2024-01-02 Listed $249,500 Stellar MLS as Distributed by MLS Grid
• 2024-01-02 Listed $249,500 Beaches MLS
• 2023-07-21 Rental Removed — RMLSFL
• 2023-05-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-05-16 Listing Removed — Beaches MLS
• 2023-04-28 Price Changed $199,000 Beaches MLS
• 2023-04-28 Price Changed $199,000 Stellar MLS as Distributed by MLS Grid
• 2023-04-14 Price Changed $204,900 Beaches MLS
• 2023-04-14 Price Changed $204,900 Stellar MLS as Distributed by MLS Grid
• 2023-04-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-03-29 Price Changed $216,000 Beaches MLS
• 2023-03-29 Price Changed $216,000 Stellar MLS as Distributed by MLS Grid
• 2023-03-29 Price Changed $216,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-24 Price Changed $216,500 Beaches MLS
• 2023-02-24 Price Changed $216,500 Stellar MLS as Distributed by MLS Grid
• 2023-02-24 Price Changed $216,500 Stellar MLS as Distributed by MLS Grid
• 2023-02-17 Price Changed $217,500 Beaches MLS
• 2023-02-17 Price Changed $217,500 Stellar MLS as Distributed by MLS Grid
• 2023-02-17 Price Changed $217,500 Stellar MLS as Distributed by MLS Grid
• 2023-02-08 Price Changed $221,000 Beaches MLS
• 2023-02-08 Price Changed $221,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-08 Price Changed $221,000 Stellar MLS as Distributed by MLS Grid
• 2023-02-01 Price Changed $224,000 Beaches MLS
• 2023-02-01 Price Changed $224,000 Beaches MLS
• 2023-02-01 Listing Removed — Beaches MLS
• 2023-01-31 Price Changed $224,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-31 Price Changed $224,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-27 Price Changed $184,000 Beaches MLS
• 2023-01-27 Price Changed $184,000 Beaches MLS
• 2023-01-27 Price Changed $184,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-27 Price Changed $184,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-18 Price Changed $189,000 Beaches MLS
• 2023-01-18 Price Changed $189,000 Beaches MLS
• 2023-01-18 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2023-01-18 Price Changed $189,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-16 Price Changed $194,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-16 Price Changed $194,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-06 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-06 Listed $199,000 Beaches MLS
• 2022-12-06 Listed $199,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-06 Listed $199,000 Beaches MLS
• 2022-10-12 Sold (Public Records) $115,000 Public Records
• 2005-07-22 Sold (Public Records) $110,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $2,368 · +12.2% YoY. Source: county tax records.