1697 SW 35th Cir · Okeechobee, FL 34974

$179,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 86 Days on market

Built 1999 5,458 sqft lot Est $188k · at est. $114/mo HOA · 6% 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 +20.1/30.0
• ARV discount +9.6/15.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SEMINOLE COVE - SWEET RETREAT! 3BD/2BA/Carport. Open concept, split floor plan, furnished (including white wicker). Front deck with entry ramp. 1344 sf under air - 2205 sf RLA. Plenty of parking. Shed. Located on Cul-de-Sac. HOA, 55+, community pool and activities. TRULY LOVELY!

Key facts

• Pantry
• Open concept
• Split plan

Tags

• OPEN CONCEPT
• SPLIT PLAN
• NEW LVP FLOORING
• NEW WHITE SHAKER CABINETS
• GRANITE COUNTERS
• PANTRY

Property features AI

Finance

• Other: Land is not leased
• Financial info: Pets allowed with possible restrictions and limits
• HOA & community: Part of Seminole Cove association; Monthly association fee of $114; Association amenities include clubhouse, pool, shuffleboard court, community room with kitchen facilities, gated entry, parking, recreation facilities, management, and pool service; Senior community

Exterior

• Parking: Parking for 4 vehicles; Concrete driveway with open parking and RV access
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Sewer connected; Water connected; Paved road; public maintained
• Home design: Manufactured home (double wide); One story; Resale property; Accessible approach with ramp; Faces north; County road frontage
• Construction: Pre-fab construction; Metal roof; Double wide body type
• Exterior features: Open porch; Porch; Shed(s)

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vaulted ceilings; Walk-in closets; Split bedroom layout; Blinds on windows
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• 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.
• Zoned schools: South Elementary School (math 38% / reading 49%, grade F, #1,345 of 2,144 statewide, top 64%, 573 students, 61% FRL); Osceola Middle School (math 53% / reading 36%, grade D, #320 of 571 statewide, top 57%, 753 students, 67% FRL); Okeechobee High School (math 30% / reading 42%, grade F, #359 of 667 statewide, top 55%, 1,692 students, 62% FRL).
• Market conditions: 402 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($53k/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.
• 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 86 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $105k; list at $179k implies a 70% 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 $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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. 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 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: 1.02% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $187,920
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1628 SW 35 Cir	0.19mi	3/2.0	1,320 (+2%)	13mo	$210,000	$159	77
1622 SW 35th Cir	0.20mi	2/2.0 (-1)	1,416 (+9%)	0mo	$205,000	$145	70
1607 SW 35th Cir	0.20mi	3/2.0	1,394 (+8%)	14mo	$205,000	$147	67
1625 SW 35th Cir	0.22mi	2/2.0 (-1)	1,152 (-11%)	2mo	$160,000	$139	65
1100 SW 44th Blvd	0.41mi	3/2.0	1,296 (0%)	19mo	$279,000	$215	65
1300 SW 44th Blvd	0.42mi	2/2.0 (-1)	1,325 (+2%)	16mo	$238,000	$180	59
1556 SW 35th Cir	0.21mi	2/2.0 (-1)	1,430 (+10%)	13mo	$207,000	$145	57
1575 SW 35th Cir	0.21mi	2/2.0 (-1)	1,181 (-9%)	18mo	$162,650	$138	56
1730 SW 35th Cir	0.16mi	2/2.0 (-1)	1,438 (+11%)	24mo	$186,000	$129	50
1517 SW 35th Cir	0.29mi	2/2.0 (-1)	1,150 (-11%)	20mo	$160,000	$139	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-14,703
• Equity at exit: $26,689

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $5,652
• Equity at exit: $15,477

Cash invested: $50,120 (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 34974

• Home prices YoY: -15.6%
• Active inventory: 402
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,822 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$88 /mo · $1,054/yr
• Insurance: −$75
• HOA: −$114
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $224

Break-even live

Break-even rent $1,538

Max offer price $179,000

Occupancy floor 83%

Sensitivity live

Price	-10% $326	-5% $275	+0% $224	+5% $174	+10% $123
Rent	-10% $80	-5% $152	+0% $224	+5% $296	+10% $368
Rate	-1.0pp $314	-0.5pp $270	base $224	+0.5pp $178	+1.0pp $131

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $114 · $1,368/yr
• Likely covers: pool

Listing history 22 events

1. 2026-06-19
   days on market $179,000 Active 86 DOM
2. 2026-06-18
   days on market $179,000 Active 85 DOM
3. 2026-06-17
   days on market $179,000 Active 84 DOM
4. 2026-06-16
   days on market $179,000 Active 83 DOM
5. 2026-06-15
   days on market $179,000 Active 82 DOM
6. 2026-06-14
   days on market $179,000 Active 80 DOM
7. 2026-06-10
   days on market $179,000 Active 77 DOM
8. 2026-06-09
   days on market $179,000 Active 76 DOM
9. 2026-06-08
   days on market $179,000 Active 75 DOM
10. 2026-06-07
    days on market $179,000 Active 74 DOM
11. 2026-06-05
    days on market $179,000 Active 71 DOM
12. 2026-06-03
    days on market $179,000 Active 70 DOM
13. 2026-06-02
    days on market $179,000 Active 69 DOM
14. 2026-06-01
    days on market $179,000 Active 68 DOM
15. 2026-05-31
    days on market $179,000 Active 67 DOM
16. 2026-05-30
    days on market $179,000 Active 66 DOM
17. 2026-03-23
    listed $179,000 Active
18. 2019-08-23
    soldstatus $105,000 Sold 280-char remark

    Show marketing remark (280 chars)

    SEMINOLE COVE - SWEET RETREAT! 3BD/2BA/Carport. Open concept, split floor plan, furnished (including white wicker). Front deck with entry ramp. 1344 sf under air - 2205 sf RLA. Plenty of parking. Shed. Located on Cul-de-Sac. HOA, 55+, community pool and activities. TRULY LOVELY!

19. 2019-08-23
    soldstatus $105,000

    Show marketing remark (280 chars)

    SEMINOLE COVE - SWEET RETREAT! 3BD/2BA/Carport. Open concept, split floor plan, furnished (including white wicker). Front deck with entry ramp. 1344 sf under air - 2205 sf RLA. Plenty of parking. Shed. Located on Cul-de-Sac. HOA, 55+, community pool and activities. TRULY LOVELY!

20. 2019-08-09
    status Pending 280-char remark

    Show marketing remark (280 chars)

    SEMINOLE COVE - SWEET RETREAT! 3BD/2BA/Carport. Open concept, split floor plan, furnished (including white wicker). Front deck with entry ramp. 1344 sf under air - 2205 sf RLA. Plenty of parking. Shed. Located on Cul-de-Sac. HOA, 55+, community pool and activities. TRULY LOVELY!

21. 2019-06-11
    listed $115,000 Active 280-char remark

    Show marketing remark (280 chars)

    SEMINOLE COVE - SWEET RETREAT! 3BD/2BA/Carport. Open concept, split floor plan, furnished (including white wicker). Front deck with entry ramp. 1344 sf under air - 2205 sf RLA. Plenty of parking. Shed. Located on Cul-de-Sac. HOA, 55+, community pool and activities. TRULY LOVELY!

22. 2002-08-27
    soldstatus $60,000

ⓘ 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: $1,054 · $88/mo
• Projected year-2 tax: $1,486 · $124/mo
• Expected delta: +$432/yr (+$36/mo · 41.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $21,865
• − Mortgage interest: −$10,027
• − Property taxes: −$1,054
• − Insurance: −$895
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − HOA: −$1,368
• − Depreciation: −$5,207
• Taxable loss: −$184
• Est. tax savings @ 24.0%: +$44
• After-tax cash flow: $2,736/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

• 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

+198.3% since first listed

6 events — show timeline

• 2026-03-23 Listed $179,000 Beaches MLS
• 2019-08-23 Sold (Public Records) $105,000 Public Records
• 2019-08-23 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2019-08-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-06-11 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2002-08-27 Sold (Public Records) $60,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,054 · +6.3% YoY. Source: county tax records.