408 Hillside Ave · Lake Placid, FL 33852

$169,900

1 bd · 1.0 ba · 532 sqft · SingleFamily public records · 12 Days on market

Built 1970 8,400 sqft 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 +10.8/30.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located within the Lake Placid city limits in downtown Lake Placid, this 1 bedroom, 1 bathroom concrete block home offers a functional layout with flexible space and a walkable location. Tile flooring throughout the kitchen and main living areas complements the home’s cozy, vintage-inspired kitchen, which opens to the main living space. A bonus room connected to the 1-car garage provides additional usable space and may easily be converted into a second bedroom or hobby room. Through the kitchen, the home opens to a large fenced backyard with mature trees, offering privacy and room to enjoy outdoor living. Recent updates include a new drain field and fresh exterior paint. Conveniently located within walking distance to local restaurants, grocery stores, coffee, drug stores, and the charm of small-town Lake Placid. A town surrounded by over two dozen freshwater lakes (27 named lakes) and known as the “Town of Murals” with nearly 50 outdoor murals throughout downtown. Please note: there is currently no washer or dryer hookup on this property.

Key facts

• New drain field
• Recently remodeled
• Fresh exterior paint

Tags

• VINTAGE STYLE KITCHEN
• LARGE FENCED BACKYARD
• MATURE TREES
• RECENTLY REMODELED
• FRESH EXTERIOR PAINT
• NEW DRAIN FIELD

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Block and concrete construction
• Exterior features: Shingle roof; Paved road access; Frontage of 75 feet; Lot approximately 0.19 acres; Zoned R1

Interior

• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Tile flooring; One total room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-79 ($-945/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (28.4% below list).
• Recommended offer: $122k (28.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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).

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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $75k; list at $170k implies a 127% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,702 (28.4% 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. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.72% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.99%
• DSCR: 0.91
• GRM: 11.6

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: -21.8%
• Equity multiple: 0.26×
• Total profit: $-35,222
• Equity at exit: $25,333

10-year hold

• IRR: -21.1%
• Equity multiple: -0.00×
• Total profit: $-47,649
• Equity at exit: $14,690

Cash invested: $47,572 (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: 11.6×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-79

Break-even live

Break-even rent $1,317

Max offer price $155,994

Occupancy floor —

Sensitivity live

Price	-10% $17	-5% $-31	+0% $-79	+5% $-127	+10% $-175
Rent	-10% $-175	-5% $-127	+0% $-79	+5% $-31	+10% $17
Rate	-1.0pp $7	-0.5pp $-36	base $-79	+0.5pp $-123	+1.0pp $-168

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-07
   statusdays on market $169,900 Pending 12 DOM
2. 2026-06-02
   days on market $169,900 Active 11 DOM
3. 2026-06-01
   days on market $169,900 Active 10 DOM
4. 2026-05-31
   days on market $169,900 Active 9 DOM
5. 2026-05-30
   days on market $169,900 Active 8 DOM
6. 2026-05-22
   listed $169,900 Active
7. 2026-01-29
   soldstatus $75,000
8. 2026-01-28
   soldstatus $75,000 Closed 1073-char remark

   Show marketing remark (1073 chars)

   Located within the Lake Placid city limits in downtown Lake Placid, this 1 bedroom, 1 bathroom concrete block home offers a functional layout with flexible space and a walkable location. Tile flooring throughout the kitchen and main living areas complements the home’s cozy, vintage-inspired kitchen, which opens to the main living space. A bonus room connected to the 1-car garage provides additional usable space and may easily be converted into a second bedroom or hobby room. Through the kitchen, the home opens to a large fenced backyard with mature trees, offering privacy and room to enjoy outdoor living. Recent updates include a new drain field and fresh exterior paint. Conveniently located within walking distance to local restaurants, grocery stores, coffee, drug stores, and the charm of small-town Lake Placid. A town surrounded by over two dozen freshwater lakes (27 named lakes) and known as the “Town of Murals” with nearly 50 outdoor murals throughout downtown. Please note: there is currently no washer or dryer hookup on this property.

9. 2026-01-14
   listed Active Under Contract 1073-char remark

   Show marketing remark (1073 chars)

   Located within the Lake Placid city limits in downtown Lake Placid, this 1 bedroom, 1 bathroom concrete block home offers a functional layout with flexible space and a walkable location. Tile flooring throughout the kitchen and main living areas complements the home’s cozy, vintage-inspired kitchen, which opens to the main living space. A bonus room connected to the 1-car garage provides additional usable space and may easily be converted into a second bedroom or hobby room. Through the kitchen, the home opens to a large fenced backyard with mature trees, offering privacy and room to enjoy outdoor living. Recent updates include a new drain field and fresh exterior paint. Conveniently located within walking distance to local restaurants, grocery stores, coffee, drug stores, and the charm of small-town Lake Placid. A town surrounded by over two dozen freshwater lakes (27 named lakes) and known as the “Town of Murals” with nearly 50 outdoor murals throughout downtown. Please note: there is currently no washer or dryer hookup on this property.

10. 2026-01-14
    listed $85,000 1073-char remark

    Show marketing remark (1073 chars)

    Located within the Lake Placid city limits in downtown Lake Placid, this 1 bedroom, 1 bathroom concrete block home offers a functional layout with flexible space and a walkable location. Tile flooring throughout the kitchen and main living areas complements the home’s cozy, vintage-inspired kitchen, which opens to the main living space. A bonus room connected to the 1-car garage provides additional usable space and may easily be converted into a second bedroom or hobby room. Through the kitchen, the home opens to a large fenced backyard with mature trees, offering privacy and room to enjoy outdoor living. Recent updates include a new drain field and fresh exterior paint. Conveniently located within walking distance to local restaurants, grocery stores, coffee, drug stores, and the charm of small-town Lake Placid. A town surrounded by over two dozen freshwater lakes (27 named lakes) and known as the “Town of Murals” with nearly 50 outdoor murals throughout downtown. Please note: there is currently no washer or dryer hookup on this property.

ⓘ 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: $941 · $78/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$469/yr (+$39/mo · 49.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,604
• − Mortgage interest: −$9,517
• − Property taxes: −$941
• − Insurance: −$850
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$4,943
• Taxable loss: −$3,982
• Est. tax savings @ 24.0%: +$956
• After-tax cash flow: $11/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

• Census place: Lake Placid, FL
• 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

+99.9% since first listed

5 events — show timeline

• 2026-05-22 Listed $169,900 HAOR as distributed by MLS GRID
• 2026-01-29 Sold (Public Records) $75,000 Public Records
• 2026-01-28 Sold (MLS) $75,000 HAOR as distributed by MLS GRID
• 2026-01-14 Listed — HAOR as distributed by MLS GRID
• 2026-01-14 Listed $85,000 HAOR as distributed by MLS GRID

Property tax history

+10.6%/yr

Latest (2025): $941 · +10.6% YoY. Source: county tax records.