520 S Main Ave · Lake Placid, FL 33852

$775,000

9 bd · 5.0 ba · 2,572 sqft · MultiFamily public records · 54 Days on market

Built 1982

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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 +15.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +3.6/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great opportunity to purchase this Five Plex Appartment building. This property is situated in Lake Placid, on Main Avenue, just South of Interlake Blvd. , right in the heart of Lake Placid and within walking distance of shops, restaurants and Devane park on The Circle with it's beautiful Gazebo. Rents are moderate at this time and may possibly be increased at rent or lease renewals. Property being sold AS-IS with right to inspect. Units will be shown during feasability inspection period, please do not contact tenants.

Key facts

• Durable metal roof
• Strong unit mix
• Multifamily property

Tags

• MULTIFAMILY PROPERTY
• STRONG UNIT MIX
• FRESHLY PAINTED EXTERIOR
• DURABLE METAL ROOF
• WINDOW A/C UNITS

Property features AI

Finance

• Financial info: Four total units; Gross income of $62,400; Tenants pay electricity; Four units in the community

Exterior

• Utilities: Public water; Septic tank sewer; Other utilities; Five separate electric meters
• Home design: Quadruplex; Single-story; Updated/remodeled
• Construction: CBS construction
• Exterior features: Not waterfront; Metal roof

Interior

• Flooring: Laminate
• Heating & cooling: Window/wall heating; Wall/window cooling units
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive. Per door: $54/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $652k (15.9% below list).
• Recommended offer: $652k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.8% 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: amenities F, commute F, employment 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.
• Zoned schools: Lake Placid Elementary School (math 32% / reading 29%, grade F, #1,862 of 2,144 statewide, top 88%, 594 students, 80% FRL); Lake Placid Middle School (math 42% / reading 33%, grade F, #395 of 571 statewide, top 70%, 621 students, 75% FRL); Lake Placid High School (math 36% / reading 35%, grade F, #367 of 667 statewide, top 57%, 868 students, 66% FRL).
• Market conditions: Rents flat; 1495 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• At $6,520/mo this rent would consume 144% of the median local household income ($54k/yr) (locally 439% 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 $5k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($752k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $575k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $652,000 (15.9% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.84% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 9.9

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: -16.2%
• Equity multiple: 0.44×
• Total profit: $-122,426
• Equity at exit: $115,555

10-year hold

• IRR: -11.9%
• Equity multiple: 0.35×
• Total profit: $-140,037
• Equity at exit: $67,008

Cash invested: $217,000 (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: 1495
• Price-to-rent: 43.9×

Monthly cashflow live

• Estimated rent: $6,520 medium
• Mortgage (P&I): −$4,064
• Tax from tax record: −$491 /mo · $5,895/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,369
• Net cashflow: $272

Break-even live

Break-even rent $6,175

Max offer price $775,000

Occupancy floor 91%

Sensitivity live

Price	-10% $711	-5% $492	+0% $272	+5% $53	+10% $-166
Rent	-10% $-243	-5% $15	+0% $272	+5% $530	+10% $787
Rate	-1.0pp $663	-0.5pp $470	base $272	+0.5pp $72	+1.0pp $-133

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,471
▸ 2× units	2	1	$2,618
▸ 2× units	1	1	$2,432
Total (5 units)			$6,520

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $775,000 Active 54 DOM
2. 2026-06-19
   days on market $775,000 Active 52 DOM
3. 2026-06-18
   days on market $775,000 Active 51 DOM
4. 2026-06-17
   days on market $775,000 Active 50 DOM
5. 2026-06-16
   days on market $775,000 Active 49 DOM
6. 2026-06-15
   days on market $775,000 Active 48 DOM
7. 2026-06-14
   days on market $775,000 Active 46 DOM
8. 2026-06-10
   days on market $775,000 Active 43 DOM
9. 2026-06-09
   days on market $775,000 Active 42 DOM
10. 2026-06-08
    days on market $775,000 Active 41 DOM
11. 2026-06-07
    days on market $775,000 Active 40 DOM
12. 2026-06-02
    days on market $775,000 Active 35 DOM
13. 2026-06-01
    days on market $775,000 Active 34 DOM
14. 2026-05-31
    days on market $775,000 Active 33 DOM
15. 2026-05-30
    days on market $775,000 Active 32 DOM
16. 2026-04-28
    listed $775,000 Active
17. 2024-01-26
    soldstatus $575,000 Closed 524-char remark

    Show marketing remark (524 chars)

    Great opportunity to purchase this Five Plex Appartment building. This property is situated in Lake Placid, on Main Avenue, just South of Interlake Blvd. , right in the heart of Lake Placid and within walking distance of shops, restaurants and Devane park on The Circle with it's beautiful Gazebo. Rents are moderate at this time and may possibly be increased at rent or lease renewals. Property being sold AS-IS with right to inspect. Units will be shown during feasability inspection period, please do not contact tenants.

18. 2024-01-26
    soldstatus $575,000

    Show marketing remark (524 chars)

    Great opportunity to purchase this Five Plex Appartment building. This property is situated in Lake Placid, on Main Avenue, just South of Interlake Blvd. , right in the heart of Lake Placid and within walking distance of shops, restaurants and Devane park on The Circle with it's beautiful Gazebo. Rents are moderate at this time and may possibly be increased at rent or lease renewals. Property being sold AS-IS with right to inspect. Units will be shown during feasability inspection period, please do not contact tenants.

19. 2023-12-27
    status Pending 524-char remark

    Show marketing remark (524 chars)

    Great opportunity to purchase this Five Plex Appartment building. This property is situated in Lake Placid, on Main Avenue, just South of Interlake Blvd. , right in the heart of Lake Placid and within walking distance of shops, restaurants and Devane park on The Circle with it's beautiful Gazebo. Rents are moderate at this time and may possibly be increased at rent or lease renewals. Property being sold AS-IS with right to inspect. Units will be shown during feasability inspection period, please do not contact tenants.

20. 2023-12-16
    listed $675,000 Active 524-char remark

    Show marketing remark (524 chars)

    Great opportunity to purchase this Five Plex Appartment building. This property is situated in Lake Placid, on Main Avenue, just South of Interlake Blvd. , right in the heart of Lake Placid and within walking distance of shops, restaurants and Devane park on The Circle with it's beautiful Gazebo. Rents are moderate at this time and may possibly be increased at rent or lease renewals. Property being sold AS-IS with right to inspect. Units will be shown during feasability inspection period, please do not contact tenants.

21. 2023-06-06
    soldstatus $1,140,000
22. 2023-05-31
    soldstatus $1,140,000 Closed 843-char remark

    Show marketing remark (843 chars)

    Multi-Unit Investment Portfolio rented at 100% occupancy. Seller is offering a $25,000 credit with a full price offer to be applied to closing costs or property upgrades. This package consists of one 5plex and four duplexes totaling 13 units. The mix is one 3 bedroom / 1 bath, two 1 bedroom / 1 bath, and ten 2 bedroom / 1 baths. All units are currently occupied with tenants on a 12 month lease. All buildings are concrete block with metal roofs. Owner pays for water and tenants pay for electric. Located in the heart of Lake Placid just off S. Main Street and within walking distance of the Lake Placid schools. Listing price is calculated at a CAP Rate of 8.16% based off current expenses. Financial information available with executed Confidentiality Agreement. Do not disturb tenants. Interior showings only during due diligence period.

23. 2023-05-10
    historical Active Under Contract 843-char remark

    Show marketing remark (843 chars)

    Multi-Unit Investment Portfolio rented at 100% occupancy. Seller is offering a $25,000 credit with a full price offer to be applied to closing costs or property upgrades. This package consists of one 5plex and four duplexes totaling 13 units. The mix is one 3 bedroom / 1 bath, two 1 bedroom / 1 bath, and ten 2 bedroom / 1 baths. All units are currently occupied with tenants on a 12 month lease. All buildings are concrete block with metal roofs. Owner pays for water and tenants pay for electric. Located in the heart of Lake Placid just off S. Main Street and within walking distance of the Lake Placid schools. Listing price is calculated at a CAP Rate of 8.16% based off current expenses. Financial information available with executed Confidentiality Agreement. Do not disturb tenants. Interior showings only during due diligence period.

24. 2023-04-03
    price $1,299,000 843-char remark

    Show marketing remark (843 chars)

    Multi-Unit Investment Portfolio rented at 100% occupancy. Seller is offering a $25,000 credit with a full price offer to be applied to closing costs or property upgrades. This package consists of one 5plex and four duplexes totaling 13 units. The mix is one 3 bedroom / 1 bath, two 1 bedroom / 1 bath, and ten 2 bedroom / 1 baths. All units are currently occupied with tenants on a 12 month lease. All buildings are concrete block with metal roofs. Owner pays for water and tenants pay for electric. Located in the heart of Lake Placid just off S. Main Street and within walking distance of the Lake Placid schools. Listing price is calculated at a CAP Rate of 8.16% based off current expenses. Financial information available with executed Confidentiality Agreement. Do not disturb tenants. Interior showings only during due diligence period.

25. 2023-03-20
    listed $1,399,000 Active 843-char remark

    Show marketing remark (843 chars)

    Multi-Unit Investment Portfolio rented at 100% occupancy. Seller is offering a $25,000 credit with a full price offer to be applied to closing costs or property upgrades. This package consists of one 5plex and four duplexes totaling 13 units. The mix is one 3 bedroom / 1 bath, two 1 bedroom / 1 bath, and ten 2 bedroom / 1 baths. All units are currently occupied with tenants on a 12 month lease. All buildings are concrete block with metal roofs. Owner pays for water and tenants pay for electric. Located in the heart of Lake Placid just off S. Main Street and within walking distance of the Lake Placid schools. Listing price is calculated at a CAP Rate of 8.16% based off current expenses. Financial information available with executed Confidentiality Agreement. Do not disturb tenants. Interior showings only during due diligence period.

26. 2022-01-20
    soldstatus $575,000
27. 2014-02-20
    soldstatus $187,500
28. 2012-07-12
    soldstatus $85,000
29. 2012-07-12
    soldstatus $92,100

ⓘ 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: $5,895 · $491/mo
• Projected year-2 tax: $6,432 · $536/mo
• Expected delta: +$537/yr (+$45/mo · 9.1%)

ⓘ 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: $78,240
• − Mortgage interest: −$43,412
• − Property taxes: −$5,895
• − Insurance: −$3,875
• − Repairs & maintenance: −$6,259
• − Management: −$6,259
• − Depreciation: −$22,545
• Taxable loss: −$10,006
• Est. tax savings @ 24.0%: +$2,402
• After-tax cash flow: $5,670/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

+811.8% since first listed

14 events — show timeline

• 2026-04-28 Listed $775,000 Beaches MLS
• 2024-01-26 Sold (Public Records) $575,000 Public Records
• 2024-01-26 Sold (MLS) $575,000 HAOR as distributed by MLS GRID
• 2023-12-27 Pending — HAOR as distributed by MLS GRID
• 2023-12-16 Listed $675,000 HAOR as distributed by MLS GRID
• 2023-06-06 Sold (Public Records) $1,140,000 Public Records
• 2023-05-31 Sold (MLS) $1,140,000 HAOR as distributed by MLS GRID
• 2023-05-10 Contingent — HAOR as distributed by MLS GRID
• 2023-04-03 Price Changed $1,299,000 HAOR as distributed by MLS GRID
• 2023-03-20 Listed $1,399,000 HAOR as distributed by MLS GRID
• 2022-01-20 Sold (Public Records) $575,000 Public Records
• 2014-02-20 Sold (Public Records) $187,500 Public Records
• 2012-07-12 Sold (Public Records) $92,100 Public Records
• 2012-07-12 Sold (Public Records) $85,000 Public Records

Property tax history

+16.6%/yr

Latest (2025): $5,895 · +22.3% YoY. Source: county tax records.