3345 Illinois Ave · Sebring, FL 33870

$116,000

2 bd · 2.0 ba · 984 sqft · Manufactured public records · 43 Days on market

Built 1974 5,663 sqft lot Est $128k · 9% under

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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 +27.0/30.0
• ARV discount +11.7/15.0
• DSCR +9.3/10.0
• 1% rule +6.0/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Florida living made easy in Fairmount Mobile Estates! This 2 bed 2 split-bath home sits on OWNED land with NO lot rent and NO HOA! Conveniently located near shopping, restaurants, medical care and Sebring's beautiful lakes. Inside you'll find a bright and inviting Florida room offering a spacious sitting area where friends and family can gather. You'll find a beautiful new kitchen, featuring granite countertops and new cabinets with plenty of storage. This home offers updated bathrooms and waterproof vinyl flooring throughout. Off the carport, there is an additional enclosed porch, ideal for outdoor dining, reading or entertaining guests. Outside features a covered front porch for those Flo

Key facts

• New kitchen
• No lot rent
• Florida room

Tags

• OWNED LAND
• NO LOT RENT
• NO HOA
• FLORIDA ROOM
• NEW KITCHEN
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: Carport (2 spaces)
• Utilities: Public water; Public sewer; Cable available
• Home design: Mobile home; One level; Residential property
• Construction: Metal siding and frame construction; Metal roof
• Exterior features: Enclosed patio/porch; Front porch; Side porch; Shed(s); Workshop; Pets allowed

Interior

• Kitchen: Cooktop; Oven; Range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fans; Blinds; Partially furnished; 10 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $116k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $113k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.3% in Sebring — 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 66/100 on livability (#618 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing 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 soft (-0.3%/yr); 475 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 ($50k/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 $802 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $116k implies a 346% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,520 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.10% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.95%
• DSCR: 1.53
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $127,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3248 Delaware Ave	0.10mi	2/2.0	960 (-2%)	2mo	$125,000	$130	90
3415 Maine Ave	0.11mi	2/2.0	946 (-4%)	13mo	$90,000	$95	77
3248 Fairmount Dr	0.15mi	2/2.0	1,056 (+7%)	6mo	$140,000	$133	76
3518 Illinois Ave	0.10mi	2/2.0	1,024 (+4%)	19mo	$106,000	$104	73
2317 Georgia St	0.20mi	2/2.0	1,080 (+10%)	8mo	$150,000	$139	68
3446 Michigan Ave	0.11mi	2/2.0	1,124 (+14%)	8mo	$120,000	$107	65
2602 Georgia St	0.26mi	2/2.0	1,056 (+7%)	14mo	$178,000	$169	64
3352 Illinois Ave	0.03mi	2/1.5	842 (-14%)	10mo	$83,400	$99	64
3502 Fairmount Dr	0.16mi	3/2.0 (+1)	924 (-6%)	19mo	$120,000	$130	61
3320 Michigan Ave	0.09mi	2/2.0	854 (-13%)	16mo	$111,900	$131	61
2349 Georgia St	0.21mi	3/1.5 (+1)	1,086 (+10%)	17mo	$133,000	$122	52
1404 Abbey Ln	0.44mi	2/2.0	1,104 (+12%)	21mo	$140,000	$127	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-1,994
• Equity at exit: $17,296

10-year hold

• IRR: 4.8%
• Equity multiple: 1.31×
• Total profit: $10,100
• Equity at exit: $10,030

Cash invested: $32,480 (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 33870

• Home prices YoY: -20.0%
• Rents YoY: -0.3%
• Active inventory: 475
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,279 medium
• Mortgage (P&I): −$608
• Tax from tax record: −$30 /mo · $360/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $323

Break-even live

Break-even rent $869

Max offer price $116,000

Occupancy floor 70%

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: $29,000
• Closing costs: $3,480
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-07
   statusdays on market $116,000 Pending 43 DOM
2. 2026-06-02
   days on market $116,000 Active 39 DOM
3. 2026-06-01
   days on market $116,000 Active 38 DOM
4. 2026-05-31
   days on market $116,000 Active 37 DOM
5. 2026-05-30
   days on market $116,000 Active 36 DOM
6. 2026-04-24
   listed $116,000 Active
7. 1992-06-01
   soldstatus $26,000
8. 1992-01-01
   soldstatus $24,000

ⓘ 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: $360 · $30/mo
• Projected year-2 tax: $963 · $80/mo
• Expected delta: +$602/yr (+$50/mo · 167.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,344
• − Mortgage interest: −$6,498
• − Property taxes: −$360
• − Insurance: −$580
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$3,375
• Taxable income: $2,076
• Est. tax owed @ 24.0%: −$498
• After-tax cash flow: $3,383/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 — Sebring

• Score: 66/100
• State rank: #618
• US rank: #11992

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment F Housing A+ 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: 50,797
• Metro: Sebring-Avon Park, FL
• Population (ZIP): 25,195
• Household income: $49,942
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 994.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 22% Black 13% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 7% Cuban 5%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Jamaica, China
• Languages at home: 80% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -68.68%
• Current HPI: 273.9861
• Rent YoY: ▼ -0.29%
• 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

+383.3% since first listed

3 events — show timeline

• 2026-04-24 Listed $116,000 HAOR as distributed by MLS GRID
• 1992-06-01 Sold (Public Records) $26,000 Public Records
• 1992-01-01 Sold (Public Records) $24,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $360 · +3.4% YoY. Source: county tax records.