207 SE 6th Ave · Okeechobee, FL 34974

$890,000

6 bd · 6.0 ba · 3,873 sqft · MultiFamily public records · 51 Days on market

Built 1988

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

-GREAT INVESTMENT OPPORTUNITY! This Quad-plex sits on Taylor Creek with Lake Access. Two of the units are 1 bedroom 1 bath which are one story that has full kitchen dining area, living room full bathroom and master bedroom along with a separate laundry room. The other two units are 2 bedroom 2 bath which are upstairs- 2 bedroom units are 2 story units with master bedroom suite on top floor - main floor has living room, kitchen/dining, spare bedroom and full guest bathroom and separate laundry area. . This quadplex is completely occupied current Alternate Use = Rental, Water Front: Lake Okeechobee, Boat Dock Available,

Key facts

• Waterfront deck
• Concrete seawall
• Waterfront access

Tags

• WATERFRONT ACCESS
• WATERFRONT DECK
• CONCRETE SEAWALL
• BOAT DOCK POTENTIAL
• WALKABLE DOWNTOWN LOCATION

Property features AI

Finance

• Financial info: Mixed-income rental units with month-to-month tenancies; Unit rents reported: 1-bedroom units $1,550 each; 2-bedroom units total reported as $21,000 (as listed)
• HOA & community: Association fees billed annually

Exterior

• Parking: Off-street parking spaces
• Utilities: Public sewer; Cable not available
• Home design: 2-story building; City zoning
• Construction: Metal roof; Year built: Unknown
• Exterior features: Less than a quarter acre lot; Waterfront on a creek; Approximately 1,000 feet of frontage

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Two 2-bedroom units; Two 1-bedroom units
• Bathrooms: Two 2-bath units (full bathrooms); Two 1-bath units (full bathrooms)
• Heating & cooling: Central air
• Interior features: Central air conditioning
• Laundry & utility: Washer (in some units); Dryer (in some units)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $890k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative. Per door: $-360/mo.
• To cash-flow at today's rent, offer at most $635k (28.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $549k (38.4% below list).
• Recommended offer: $549k (38.4% below list) — sets the bar for 1% rule.

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: 406 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).
• At $5,486/mo this rent would consume 124% 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 $6k of loan paydown is wiped out by about $27k 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 51 days — a 3% lower offer ($863k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $99k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $890k implies a 493% 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 $548,600 (38.4% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.62% ✗
• Cap rate: 4.35%
• Cash-on-cash: -6.94%
• DSCR: 0.69
• GRM: 13.5

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: -28.4%
• Equity multiple: 0.05×
• Total profit: $-236,204
• Equity at exit: $132,702

10-year hold

• IRR: -27.7%
• Equity multiple: -0.30×
• Total profit: $-324,537
• Equity at exit: $76,951

Cash invested: $249,200 (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 34974

• Home prices YoY: -15.6%
• Active inventory: 406
• Price-to-rent: 54.1×

Monthly cashflow live

• Estimated rent: $5,486 medium
• Mortgage (P&I): −$4,667
• Tax from tax record: −$738 /mo · $8,854/yr
• Insurance: −$371
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,152
• Net cashflow: $-1,442

Break-even live

Break-even rent $7,311

Max offer price $635,275

Occupancy floor —

Sensitivity live

Price	-10% $-938	-5% $-1,190	+0% $-1,442	+5% $-1,694	+10% $-1,946
Rent	-10% $-1,875	-5% $-1,659	+0% $-1,442	+5% $-1,225	+10% $-1,009
Rate	-1.0pp $-994	-0.5pp $-1,216	base $-1,442	+0.5pp $-1,673	+1.0pp $-1,907

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,488
Total (4 units)			$5,486

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: $222,500
• Closing costs: $26,700
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $890,000 Active 51 DOM
2. 2026-06-19
   days on market $890,000 Active 49 DOM
3. 2026-06-18
   days on market $890,000 Active 48 DOM
4. 2026-06-17
   days on market $890,000 Active 47 DOM
5. 2026-06-16
   days on market $890,000 Active 46 DOM
6. 2026-06-15
   days on market $890,000 Active 45 DOM
7. 2026-06-14
   days on market $890,000 Active 43 DOM
8. 2026-06-10
   days on market $890,000 Active 40 DOM
9. 2026-06-09
   days on market $890,000 Active 39 DOM
10. 2026-06-08
    days on market $890,000 Active 38 DOM
11. 2026-06-07
    days on market $890,000 Active 37 DOM
12. 2026-06-05
    pricedays on market $890,000 Active 34 DOM
13. 2026-06-03
    days on market $989,000 Active 33 DOM
14. 2026-06-02
    days on market $989,000 Active 32 DOM
15. 2026-06-01
    days on market $989,000 Active 31 DOM
16. 2026-05-31
    days on market $989,000 Active 30 DOM
17. 2026-05-30
    days on market $989,000 Active 29 DOM
18. 2026-05-01
    listed $989,000 Active
19. 2014-10-23
    soldstatus $150,000
20. 2014-10-17
    soldstatus $150,000 625-char remark

    Show marketing remark (625 chars)

    -GREAT INVESTMENT OPPORTUNITY! This Quad-plex sits on Taylor Creek with Lake Access. Two of the units are 1 bedroom 1 bath which are one story that has full kitchen dining area, living room full bathroom and master bedroom along with a separate laundry room. The other two units are 2 bedroom 2 bath which are upstairs- 2 bedroom units are 2 story units with master bedroom suite on top floor - main floor has living room, kitchen/dining, spare bedroom and full guest bathroom and separate laundry area. . This quadplex is completely occupied current Alternate Use = Rental, Water Front: Lake Okeechobee, Boat Dock Available,

21. 2014-07-22
    listed $189,900 625-char remark

    Show marketing remark (625 chars)

    -GREAT INVESTMENT OPPORTUNITY! This Quad-plex sits on Taylor Creek with Lake Access. Two of the units are 1 bedroom 1 bath which are one story that has full kitchen dining area, living room full bathroom and master bedroom along with a separate laundry room. The other two units are 2 bedroom 2 bath which are upstairs- 2 bedroom units are 2 story units with master bedroom suite on top floor - main floor has living room, kitchen/dining, spare bedroom and full guest bathroom and separate laundry area. . This quadplex is completely occupied current Alternate Use = Rental, Water Front: Lake Okeechobee, Boat Dock Available,

22. 1992-10-01
    soldstatus $125,000
23. 1988-05-01
    soldstatus $36,000

ⓘ 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: $8,854 · $738/mo
• Projected year-2 tax: $8,854 · $738/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,832
• − Mortgage interest: −$49,854
• − Property taxes: −$8,854
• − Insurance: −$4,450
• − Repairs & maintenance: −$5,267
• − Management: −$5,267
• − Depreciation: −$25,891
• Taxable loss: −$33,749
• Est. tax savings @ 24.0%: +$8,100
• After-tax cash flow: $-9,203/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

• Census place: Okeechobee, FL
• County: Okeechobee County · 23,975 people
• City population: 23,975
• 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 (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: 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 · 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: ▼ -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

+2647.2% since first listed

6 events — show timeline

• 2026-05-01 Listed $989,000 MARMLS
• 2014-10-23 Sold (Public Records) $150,000 Public Records
• 2014-10-17 Sold (MLS) $150,000 Stellar MLS as Distributed by MLS Grid
• 2014-07-22 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 1992-10-01 Sold (Public Records) $125,000 Public Records
• 1988-05-01 Sold (Public Records) $36,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $8,854 · +8.6% YoY. Source: county tax records.