102 Armwood Rd · Lake Placid, FL 33852

$169,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 57 Days on market

Built 2007 6,380 sqft lot Est $117k · 46% over $42/mo HOA · 2% of rent

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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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

OPEN HOUSE THIS SUNDAY 1:30PM - 2:30pm! Affordable Lake Lifestyle Without the Waterfront Price Tag. Fully furnished and move-in ready, this well-maintained 2007 double-wide offers a rare combination of owned land (no lot rent) and direct access to Lake June where the residents of Lake June Hills all own a lot directly on the lake with a sandy beach/clubhouse, and a place to keep a kayak! Boat docking is available (fees apply), giving you the ability to keep a boat nearby and be out on the water within minutes—without paying premium waterfront taxes or pricing. Inside, the home offers a bright, functional layout and is being sold partially furnished (a few staging pieces will not be i

Key facts

• Sandy beach
• New roof
• Boat docking

Tags

• DIRECT ACCESS TO LAKE JUNE
• SANDY BEACH
• BOAT DOCKING
• NEW ROOF
• PARTIAL LAKE JUNE VIEWS
• OVER 111 FEET OF ROAD FRONTAGE

Property features AI

Finance

• Other: Zoning: M1
• HOA & community: Homeowners association (annual fee); Association fee $500 annually (about $41.67/month); Clubhouse; Powered boats allowed; Senior community

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential mobile home; Single-story (entry level: 1)
• Construction: Frame construction with aluminum siding; Shingle roof
• Exterior features: Deck; Front porch; Waterfront access; Paved road frontage; Has view; Pets allowed

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Electric water heater
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms; Accessible full bath with grip-accessible features
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Cathedral and vaulted/high ceilings; Insulated windows with blinds and drapes; Partially furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 39% 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 57 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $170k implies a 423% 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 $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.03% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $116,532
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Ruby Way	0.10mi	2/2.5 (-1)	1,420 (+1%)	10mo	$45,000	$32	78
112 Wesley Way	0.04mi	2/1.5 (-1)	1,200 (-14%)	16mo	$99,000	$83	54

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 · 0.82% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-10,398
• Equity at exit: $25,333

10-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $2,959
• 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: 8.1×

Monthly cashflow live

• Estimated rent: $1,749 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$71
• HOA: −$42
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $329

Break-even live

Break-even rent $1,333

Max offer price $169,900

Occupancy floor 76%

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: —

HOA detail

• Monthly dues: $42 · $504/yr
• Likely covers: water

Listing history 17 events

1. 2026-06-19
   days on market $169,900 Active 57 DOM
2. 2026-06-18
   days on market $169,900 Active 56 DOM
3. 2026-06-17
   days on market $169,900 Active 55 DOM
4. 2026-06-16
   days on market $169,900 Active 54 DOM
5. 2026-06-15
   days on market $169,900 Active 53 DOM
6. 2026-06-14
   days on market $169,900 Active 51 DOM
7. 2026-06-10
   days on market $169,900 Active 48 DOM
8. 2026-06-09
   days on market $169,900 Active 47 DOM
9. 2026-06-08
   days on market $169,900 Active 46 DOM
10. 2026-06-07
    days on market $169,900 Active 45 DOM
11. 2026-06-02
    days on market $169,900 Active 40 DOM
12. 2026-06-01
    days on market $169,900 Active 39 DOM
13. 2026-05-31
    days on market $169,900 Active 38 DOM
14. 2026-05-30
    days on market $169,900 Active 37 DOM
15. 2026-04-23
    listed $169,900 Active
16. 1996-02-19
    soldstatus $32,500
17. 1994-03-01
    soldstatus $31,000

ⓘ 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: $593 · $49/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$817/yr (+$68/mo · 137.7%)

ⓘ 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 4/10 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: $20,991
• − Mortgage interest: −$9,517
• − Property taxes: −$593
• − Insurance: −$850
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − HOA: −$504
• − Depreciation: −$4,943
• Taxable income: $1,226
• Est. tax owed @ 24.0%: −$294
• After-tax cash flow: $3,650/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

+448.1% since first listed

3 events — show timeline

• 2026-04-23 Listed $169,900 HAOR as distributed by MLS GRID
• 1996-02-19 Sold (Public Records) $32,500 Public Records
• 1994-03-01 Sold (Public Records) $31,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $593 · +4.0% YoY. Source: county tax records.