10 Shell Rd · Buckhead Ridge, FL 34974

$69,900

1 bd · 1.0 ba · 592 sqft · Condo public records · 95 Days on market

Built 1984 $118/sqft · 16% below area Est $83k · 16% under $158/mo HOA · 14% of rent

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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 +29.4/30.0
• ARV discount +14.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

~Turtle Cove~ Active 55+ Community! Enjoy true Florida waterfront living in this fully furnished 1-Bedroom, 1-bath condo association located on the Rim Canal to Lake Okeechobee. This charming unit features an in-unit new washer and dryer, making it perfect for convenient full-time or seasonal living. AC is 4 years old. Step outside and take advantage of private boat launch, allowing you to bring your boat right to your home- ideal for fishing, cruising, or enjoying Okeechobee waterways. This community offers a spacious 2,000 sq. ft. clubhouse, perfect for social gatherings and relaxing with neighbors in this friendly active environment. Just bring your suitcase and boat!Newer roof-over installed.

Key facts

• Newer roof-over
• Private boat launch
• Waterfront living

Tags

• WATERFRONT LIVING
• IN-UNIT WASHER AND DRYER
• PRIVATE BOAT LAUNCH
• SPACIOUS CLUBHOUSE
• NEWER ROOF-OVER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 5.2% in Buckhead Ridge — 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 61/100 on livability (#785 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $70k implies a 218% 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 $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.59% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 5.3

CMA / ARV

• ARV (median comp): $83,352
• List price: $69,900
• Delta: -16.14%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $4,514
• Equity at exit: $10,422

10-year hold

• IRR: 15.4%
• Equity multiple: 2.26×
• Total profit: $24,623
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$29
• HOA: −$158
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $247

Break-even live

Break-even rent $795

Max offer price $69,900

Occupancy floor 73%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $158 · $1,896/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-19
   days on market $69,900 Active 95 DOM
2. 2026-06-18
   days on market $69,900 Active 94 DOM
3. 2026-06-17
   days on market $69,900 Active 93 DOM
4. 2026-06-16
   days on market $69,900 Active 92 DOM
5. 2026-06-15
   days on market $69,900 Active 91 DOM
6. 2026-06-14
   days on market $69,900 Active 89 DOM
7. 2026-06-12
   days on market $69,900 Active 88 DOM
8. 2026-06-09
   days on market $69,900 Active 85 DOM
9. 2026-06-08
   days on market $69,900 Active 84 DOM
10. 2026-06-07
    days on market $69,900 Active 83 DOM
11. 2026-06-07
    days on market $69,900 Active 82 DOM
12. 2026-06-03
    status $69,900 Active 79 DOM
13. 2026-03-14
    price $69,900 705-char remark

    Show marketing remark (705 chars)

    ~Turtle Cove~ Active 55+ Community! Enjoy true Florida waterfront living in this fully furnished 1-Bedroom, 1-bath condo association located on the Rim Canal to Lake Okeechobee. This charming unit features an in-unit new washer and dryer, making it perfect for convenient full-time or seasonal living. AC is 4 years old. Step outside and take advantage of private boat launch, allowing you to bring your boat right to your home- ideal for fishing, cruising, or enjoying Okeechobee waterways. This community offers a spacious 2,000 sq. ft. clubhouse, perfect for social gatherings and relaxing with neighbors in this friendly active environment. Just bring your suitcase and boat!Newer roof-over installed.

14. 2025-10-10
    listed $79,500 Active 705-char remark

    Show marketing remark (705 chars)

    ~Turtle Cove~ Active 55+ Community! Enjoy true Florida waterfront living in this fully furnished 1-Bedroom, 1-bath condo association located on the Rim Canal to Lake Okeechobee. This charming unit features an in-unit new washer and dryer, making it perfect for convenient full-time or seasonal living. AC is 4 years old. Step outside and take advantage of private boat launch, allowing you to bring your boat right to your home- ideal for fishing, cruising, or enjoying Okeechobee waterways. This community offers a spacious 2,000 sq. ft. clubhouse, perfect for social gatherings and relaxing with neighbors in this friendly active environment. Just bring your suitcase and boat!Newer roof-over installed.

15. 2011-04-07
    soldstatus $22,000
16. 2006-01-06
    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: $897 · $75/mo
• Projected year-2 tax: $897 · $75/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 ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,298
• − Mortgage interest: −$3,915
• − Property taxes: −$897
• − Insurance: −$350
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − HOA: −$1,896
• − Depreciation: −$2,033
• Taxable income: $2,079
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $2,466/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 — Buckhead Ridge

• Score: 61/100
• State rank: #785
• US rank: #17876

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buckhead Ridge, FL
• County: Okeechobee County · 23,975 people
• 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

+16.5% since first listed

4 events — show timeline

• 2026-03-14 Price Changed $69,900 Beaches MLS
• 2025-10-10 Listed $79,500 Beaches MLS
• 2011-04-07 Sold (Public Records) $22,000 Public Records
• 2006-01-06 Sold (Public Records) $60,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $897 · +8.7% YoY. Source: county tax records.