1061 Fishermans Ln · Okeechobee, FL 34974

$130,000

1 bd · 1.0 ba · 994 sqft · MultiFamily public records · 123 Days on market

Built 1951

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

it is one bedroom house that could be easily made in a two bedrooms It’s got two separate one bedroom cabins each with the bath And a one room cabin with it separate bath

Key facts

• Built 1951
• Listed 123 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.5% vs local median 4.3% in Okeechobee — 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 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.
• Glades (town): math 38% / reading 41% proficiency, ranked #63 of 73 in FL (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 402 active listings in the ZIP; 65 units permitted in Glades County in 2024 (0 in 5+ unit buildings).
• At $3,130/mo this rent would consume 71% 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Glades County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $89k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.41% ✓
• Cap rate: 20.50%
• Cash-on-cash: 50.74%
• DSCR: 3.26
• GRM: 3.5

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: 48.6%
• Equity multiple: 3.12×
• Total profit: $77,034
• Equity at exit: $19,383

10-year hold

• IRR: 54.1%
• Equity multiple: 6.32×
• Total profit: $193,589
• Equity at exit: $11,240

Cash invested: $36,400 (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: 402
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,130 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$198 /mo · $2,372/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $1,539

Break-even live

Break-even rent $1,182

Max offer price $130,000

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,129
Total (3 units)			$3,130

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $130,000 Active 123 DOM
2. 2026-06-18
   days on market $130,000 Active 122 DOM
3. 2026-06-17
   days on market $130,000 Active 121 DOM
4. 2026-06-16
   days on market $130,000 Active 120 DOM
5. 2026-06-15
   days on market $130,000 Active 119 DOM
6. 2026-06-14
   days on market $130,000 Active 117 DOM
7. 2026-06-12
   days on market $130,000 Active 116 DOM
8. 2026-06-09
   days on market $130,000 Active 113 DOM
9. 2026-06-08
   days on market $130,000 Active 112 DOM
10. 2026-06-07
    days on market $130,000 Active 111 DOM
11. 2026-06-07
    days on market $130,000 Active 110 DOM
12. 2026-06-03
    days on market $130,000 Active 107 DOM
13. 2026-06-02
    days on market $130,000 Active 106 DOM
14. 2026-06-01
    days on market $130,000 Active 105 DOM
15. 2026-05-31
    days on market $130,000 Active 104 DOM
16. 2026-05-30
    days on market $130,000 Active 103 DOM
17. 2026-02-12
    listed $130,000 Active 177-char remark

    Show marketing remark (177 chars)

    it is one bedroom house that could be easily made in a two bedrooms It’s got two separate one bedroom cabins each with the bath And a one room cabin with it separate bath

18. 2007-01-24
    soldstatus $89,000
19. 2000-04-28
    soldstatus $65,000

ⓘ 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: $2,372 · $198/mo
• Projected year-2 tax: $2,372 · $198/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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,560
• − Mortgage interest: −$7,282
• − Property taxes: −$2,372
• − Insurance: −$650
• − Repairs & maintenance: −$3,005
• − Management: −$3,005
• − Depreciation: −$3,782
• Taxable income: $17,465
• Est. tax owed @ 24.0%: −$4,192
• After-tax cash flow: $14,278/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: Glades
• NCES district ID: 1200660
• Math proficiency: 38% ▼ -15.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $36,758
• Composite: 32.81/100
• National rank: #5622
• State rank: #63 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

• 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 (Glades County) Hauer SSP2

• Today (2025): 14,901 people
• By 2030: 15,463 · +3.8%
• By 2040: 16,341 · +9.7%
• By 2050: 17,158 · +15.1%
• By 2075: 18,881 · +26.7%
• By 2100: 19,164 · +28.6%

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 · Glades

• 2024 margin: Solid R (+53.3) · D 23.1% · R 76.4%
• 2008→2024 swing: -36.7pp toward R · 2008: -16.6pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+46.2 2016: R+39.6 2012: R+18.6 2008: R+16.6

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

+100.0% since first listed

3 events — show timeline

• 2026-02-12 Listed $130,000 Fizber.com
• 2007-01-24 Sold (Public Records) $89,000 Public Records
• 2000-04-28 Sold (Public Records) $65,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,372 · +14.2% YoY. Source: county tax records.