6423 Old Oak Ave

Sebring, FL 33876

$141,900D

3 bd · 2.0 ba · 1,288 sqft · Built 1988 · Manufactured · Pending · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $921/mo
• Mortgage (P&I): −$744
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$193
• Net cashflow: $-120/mo
• Annual: $-1,434/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.61%
• DSCR: 0.84
• 1% rule: 0.65%
• Cash to close: $39,732

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $142k.
• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (35.1% below list).
• It's been on market 62 days — a 6% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (35.1% below list) — sets the bar for 1% rule.
• In year one you build about $982 of equity ($981 loan paydown + $1 appreciation (0.0% local appreciation)).
• 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: amenities F, commute F, employment 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.
• Zoned schools: Cracker Trail Elementary School (math 60% / reading 58%, grade B-, #722 of 2,144 statewide, top 34%, 692 students, 62% FRL); Sebring Middle School (math 52% / reading 40%, grade D+, #300 of 571 statewide, top 53%, 815 students, 64% FRL); Sebring High School (math 32% / reading 48%, grade F, #296 of 667 statewide, top 45%, 1,809 students, 56% FRL).
• Market conditions: 211 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $142k implies a 951% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.3% vs local median 4.3% in Sebring — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• 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?
• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.