16 Pinecrest St · Lake Placid, FL 33852

$129,000

2 bd · 2.0 ba · 864 sqft · Manufactured public records · 63 Days on market

Built 1977 5,000 ac lot $112/mo HOA · 8% of rent

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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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.8/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

You own the Land!! Fun and Friendly community with all of the amenities. You can be busy always or relax and enjoy. Super active community with card games everyday, pot lucks, entertainers / dances, line dance lessons, crafts, exercise groups, all at the state of the art Clubhouse. Sparkling pool, Hot tub. Shuffleboard, Pickleball court, Corn Hole tournaments. Go inside the Exercise room with plenty of machines and you will find three pool tables and Ping pong table. Tournaments regularly. We have a beautiful library, well organized filled with books of every kind, CDs to borrow, DVDs to borrow, board games, jig saw puzzles. We have a Huge fair two times a year to sell to raise money to kee

Key facts

• Deep back yard
• Extended carport
• Covered patio

Tags

• VACANT LOT WITH OAK TREE
• DEEP BACK YARD
• VIEW OF COVERED BRIDGE
• EXTENDED CARPORT
• COVERED PATIO
• BACKS UP TO NATURE PRESERVE

Property features AI

Finance

• Other: Property type: Mobile Home (residential); Road surface: Paved; Frontage: 50; Irrigation source: Well; Zoning: RES
• HOA & community: Homeowners association with a $112 monthly fee; Community amenities: Clubhouse, Fitness Center, Pool; Senior community

Exterior

• Parking: Carport (2 spaces)
• Utilities: Water: Public and/or private well; Sewer: Public sewer
• Home design: Residential mobile home; One level; Frame construction
• Construction: Metal roof
• Exterior features: Awning(s); Rear porch; Front porch; Patio; Heated community pool; Spa / hot tub; Shed(s); Workshop

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator; Electric water heater
• Bedrooms: Total rooms listed as 1
• Flooring: Carpet; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fan(s); Partially furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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).
• This rent runs 31% 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 $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $129k implies a 378% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.08% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 7.7

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: -10.9%
• Equity multiple: 0.61×
• Total profit: $-14,055
• Equity at exit: $19,234

10-year hold

• IRR: -5.3%
• Equity multiple: 0.69×
• Total profit: $-11,159
• Equity at exit: $11,154

Cash invested: $36,120 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$104 /mo · $1,245/yr
• Insurance: −$54
• HOA: −$112
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $154

Break-even live

Break-even rent $1,197

Max offer price $129,000

Occupancy floor 84%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $112 · $1,344/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-19
   days on market $129,000 Active 63 DOM
2. 2026-06-18
   days on market $129,000 Active 62 DOM
3. 2026-06-17
   days on market $129,000 Active 61 DOM
4. 2026-06-16
   days on market $129,000 Active 60 DOM
5. 2026-06-15
   days on market $129,000 Active 59 DOM
6. 2026-06-14
   pricedays on market $129,000 Active 57 DOM
7. 2026-06-10
   days on market $139,000 Active 54 DOM
8. 2026-06-09
   days on market $139,000 Active 53 DOM
9. 2026-06-08
   days on market $139,000 Active 52 DOM
10. 2026-06-07
    days on market $139,000 Active 51 DOM
11. 2026-06-02
    days on market $139,000 Active 46 DOM
12. 2026-06-01
    days on market $139,000 Active 45 DOM
13. 2026-05-31
    days on market $139,000 Active 44 DOM
14. 2026-05-30
    days on market $139,000 Active 43 DOM
15. 2026-04-16
    listed $139,000 Active
16. 1996-06-01
    soldstatus $27,000

ⓘ 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: $1,245 · $104/mo
• Projected year-2 tax: $1,245 · $104/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 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: $16,703
• − Mortgage interest: −$7,226
• − Property taxes: −$1,245
• − Insurance: −$645
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − HOA: −$1,344
• − Depreciation: −$3,753
• Taxable loss: −$183
• Est. tax savings @ 24.0%: +$44
• After-tax cash flow: $1,887/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

+414.8% since first listed

2 events — show timeline

• 2026-04-16 Listed $139,000 HAOR as distributed by MLS GRID
• 1996-06-01 Sold (Public Records) $27,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,245 · +2.2% YoY. Source: county tax records.