1660 SW 35 Cir · Okeechobee, FL 34974

$160,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured public records · 338 Days on market

Built 1990 Est $147k · 9% over $114/mo HOA · 8% of rent

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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 +12.6/30.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• ARV discount +3.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SEMINOLE COVE 2/2 Just Reduced, partially furnished with 2 Master Suites and large closets. All the appliances are less than 2 years old (except stove that is 4 years old) AC unit is 2 years old. New windows. No steps to enter and covered carport for 2 vehicles. Rear enclosed patio with vinyl windows. Active retirement community that is close to shopping, restaurants and Lake Okeechobee. Measure room sizes for accuracy MAKE OFFER

Key facts

• Close to restaurants
• Covered carport
• Large closets

Tags

• LARGE CLOSETS
• NEW WINDOWS
• COVERED CARPORT
• ENCLOSED PATIO
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Finance

• Other: Paved road frontage; Not waterfront
• Financial info: Pets allowed with breed restrictions; Senior community
• HOA & community: Has association with monthly fee; Association amenities include clubhouse, shuffleboard court, and storage; Monthly association fee

Exterior

• Parking: Covered carport (2 spaces); 2 open parking spaces
• Security: Smoke detectors; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available
• Home design: Manufactured home; Single-story; Faces west; Resale condition
• Construction: Vinyl siding; Modular construction; Metal roof; Aluminum skirting; Approximately 1,000 sq ft living area
• Exterior features: Front porch

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Ceiling fans; Electric cooling with reverse cycle
• Interior features: Walk-in closets; Split bedroom layout; Partially furnished; Blinds and drapes
• Laundry & utility: Laundry areas both inside and outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $-22 ($-262/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (14.1% below list).
• Recommended offer: $137k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Market conditions: 402 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% 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 338 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 23% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,479 (14.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 338 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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. 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 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: 0.86% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $147,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1692 SW 35th Cir	0.14mi	2/2.0	1,078 (+8%)	2mo	$159,000	$147	79
4330 SW 13th Ave	0.40mi	2/2.0	1,054 (+5%)	22mo	$166,250	$158	54
1517 SW 35th Cir	0.43mi	2/2.0	1,150 (+15%)	20mo	$160,000	$139	39

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-27,294
• Equity at exit: $23,857

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-25,467
• Equity at exit: $13,834

Cash invested: $44,800 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$67
• HOA: −$114
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-22

Break-even live

Break-even rent $1,402

Max offer price $156,146

Occupancy floor 97%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $114 · $1,368/yr

Listing history 25 events

1. 2026-06-19
   days on market $160,000 Active 338 DOM
2. 2026-06-18
   days on market $160,000 Active 337 DOM
3. 2026-06-17
   days on market $160,000 Active 336 DOM
4. 2026-06-16
   days on market $160,000 Active 335 DOM
5. 2026-06-15
   days on market $160,000 Active 334 DOM
6. 2026-06-14
   days on market $160,000 Active 332 DOM
7. 2026-06-10
   days on market $160,000 Active 329 DOM
8. 2026-06-09
   days on market $160,000 Active 328 DOM
9. 2026-06-08
   days on market $160,000 Active 327 DOM
10. 2026-06-07
    days on market $160,000 Active 326 DOM
11. 2026-06-05
    days on market $160,000 Active 323 DOM
12. 2026-06-03
    days on market $160,000 Active 322 DOM
13. 2026-06-02
    days on market $160,000 Active 321 DOM
14. 2026-06-01
    days on market $160,000 Active 320 DOM
15. 2026-05-31
    days on market $160,000 Active 319 DOM
16. 2026-05-30
    days on market $160,000 Active 318 DOM
17. 2026-04-24
    price $160,000
18. 2026-01-03
    status Active
19. 2026-01-03
    historical
20. 2025-11-05
    price $170,000
21. 2025-07-15
    listed $180,000 Active
22. 2023-03-21
    soldstatus $130,000
23. 2007-01-26
    soldstatus $72,000
24. 2003-05-28
    soldstatus $67,000
25. 1999-11-19
    soldstatus $37,000

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$270/yr (+$22/mo · 25.5%)

ⓘ 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 4/10 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: $16,497
• − Mortgage interest: −$8,962
• − Property taxes: −$1,058
• − Insurance: −$800
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − HOA: −$1,368
• − Depreciation: −$4,655
• Taxable loss: −$2,985
• Est. tax savings @ 24.0%: +$716
• After-tax cash flow: $455/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

+332.4% since first listed

9 events — show timeline

• 2026-04-24 Price Changed $160,000 Beaches MLS
• 2026-01-03 Relisted — Beaches MLS
• 2026-01-03 Listing Removed — Beaches MLS
• 2025-11-05 Price Changed $170,000 Beaches MLS
• 2025-07-15 Listed $180,000 Beaches MLS
• 2023-03-21 Sold (Public Records) $130,000 Public Records
• 2007-01-26 Sold (Public Records) $72,000 Public Records
• 2003-05-28 Sold (Public Records) $67,000 Public Records
• 1999-11-19 Sold (Public Records) $37,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,058 · +4.4% YoY. Source: county tax records.