1024 Strickland Rd · Okeechobee, FL 34974

$120,000

2 bd · 1.0 ba · 1,068 sqft · SingleFamily public records · 105 Days on market

Built 1956 $112/sqft · 44% below area Est $213k · 44% under

---

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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into easy Florida living with this turnkey 2-bedroom, 1-bath home offering comfort, convenience, and plenty of outdoor enjoyment. As you enter, you’re welcomed into the inviting living/family room, creating a cozy first impression. Moving to the next level, the home opens into the dining room and kitchen, making it a natural gathering space. Just beyond, the two bedrooms are thoughtfully positioned near the laundry room, with the bathroom conveniently located in the same area for everyday ease. The backyard is a true highlight, featuring a 5' deep pool that can be heated, a smoker perfect for weekend cookouts, and a privacy fence that creates a peaceful setting for entertaining friends. A separate chain-link parking area provides secure space for boats, trailers, or recreational toys—ideal for anyone who loves to explore the outdoors. Inside, the home is clean, inviting, and move-in ready. An exclusion list of items not conveying with the sale will be provided; please contact the listing agent for details. Located in Okeechobee, one of Florida’s top destinations for world-class fishing, this area is also a paradise for bird watchers and nature lovers. Whether you’re seeking a relaxing getaway or a comfortable full-time residence, this property offers the perfect blend of relaxation and adventure. Call Realtor to schedule your showing today!

Key facts

• Privacy fence
• World class fishing
• Deep pool

Tags

• DEEP POOL
• PRIVACY FENCE
• CHAIN LINK PARKING AREA
• WORLD CLASS FISHING
• PARADISE FOR BIRD WATCHERS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• 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).
• This rent runs 32% 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 $830 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; list at $120k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

• ARV (median comp): $213,457
• List price: $120,000
• Delta: -43.78%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-763
• Equity at exit: $17,892

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $23,447
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,417 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$147 /mo · $1,763/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $293

Break-even live

Break-even rent $1,046

Max offer price $120,000

Occupancy floor 74%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-17
   price $120,000 1391-char remark

   Show marketing remark (1391 chars)

   Step into easy Florida living with this turnkey 2-bedroom, 1-bath home offering comfort, convenience, and plenty of outdoor enjoyment. As you enter, you’re welcomed into the inviting living/family room, creating a cozy first impression. Moving to the next level, the home opens into the dining room and kitchen, making it a natural gathering space. Just beyond, the two bedrooms are thoughtfully positioned near the laundry room, with the bathroom conveniently located in the same area for everyday ease. The backyard is a true highlight, featuring a 5' deep pool that can be heated, a smoker perfect for weekend cookouts, and a privacy fence that creates a peaceful setting for entertaining friends. A separate chain-link parking area provides secure space for boats, trailers, or recreational toys—ideal for anyone who loves to explore the outdoors. Inside, the home is clean, inviting, and move-in ready. An exclusion list of items not conveying with the sale will be provided; please contact the listing agent for details. Located in Okeechobee, one of Florida’s top destinations for world-class fishing, this area is also a paradise for bird watchers and nature lovers. Whether you’re seeking a relaxing getaway or a comfortable full-time residence, this property offers the perfect blend of relaxation and adventure. Call Realtor to schedule your showing today!

2. 2026-03-29
   price $140,000 1391-char remark

   Show marketing remark (1391 chars)

   Step into easy Florida living with this turnkey 2-bedroom, 1-bath home offering comfort, convenience, and plenty of outdoor enjoyment. As you enter, you’re welcomed into the inviting living/family room, creating a cozy first impression. Moving to the next level, the home opens into the dining room and kitchen, making it a natural gathering space. Just beyond, the two bedrooms are thoughtfully positioned near the laundry room, with the bathroom conveniently located in the same area for everyday ease. The backyard is a true highlight, featuring a 5' deep pool that can be heated, a smoker perfect for weekend cookouts, and a privacy fence that creates a peaceful setting for entertaining friends. A separate chain-link parking area provides secure space for boats, trailers, or recreational toys—ideal for anyone who loves to explore the outdoors. Inside, the home is clean, inviting, and move-in ready. An exclusion list of items not conveying with the sale will be provided; please contact the listing agent for details. Located in Okeechobee, one of Florida’s top destinations for world-class fishing, this area is also a paradise for bird watchers and nature lovers. Whether you’re seeking a relaxing getaway or a comfortable full-time residence, this property offers the perfect blend of relaxation and adventure. Call Realtor to schedule your showing today!

3. 2026-02-08
   listed $161,000 Active 1391-char remark

   Show marketing remark (1391 chars)

   Step into easy Florida living with this turnkey 2-bedroom, 1-bath home offering comfort, convenience, and plenty of outdoor enjoyment. As you enter, you’re welcomed into the inviting living/family room, creating a cozy first impression. Moving to the next level, the home opens into the dining room and kitchen, making it a natural gathering space. Just beyond, the two bedrooms are thoughtfully positioned near the laundry room, with the bathroom conveniently located in the same area for everyday ease. The backyard is a true highlight, featuring a 5' deep pool that can be heated, a smoker perfect for weekend cookouts, and a privacy fence that creates a peaceful setting for entertaining friends. A separate chain-link parking area provides secure space for boats, trailers, or recreational toys—ideal for anyone who loves to explore the outdoors. Inside, the home is clean, inviting, and move-in ready. An exclusion list of items not conveying with the sale will be provided; please contact the listing agent for details. Located in Okeechobee, one of Florida’s top destinations for world-class fishing, this area is also a paradise for bird watchers and nature lovers. Whether you’re seeking a relaxing getaway or a comfortable full-time residence, this property offers the perfect blend of relaxation and adventure. Call Realtor to schedule your showing today!

4. 2014-01-29
   soldstatus $47,700
5. 2014-01-24
   soldstatus $47,700 299-char remark

   Show marketing remark (299 chars)

   LAKEPORT 2Bd/1Ba nice-cozy-cottage very near to Dyess or Harney Pond Boat Landings. Small breakfast bar in Kitchen, step down to a Roomy, Sunny Living area. Appliances include, Electric Range & Refrigerator. New flooring & CLEAN. .Laundry hook-ups inside. The yard is Chain-link fenced.

6. 2014-01-24
   price $49,000 299-char remark

   Show marketing remark (299 chars)

   LAKEPORT 2Bd/1Ba nice-cozy-cottage very near to Dyess or Harney Pond Boat Landings. Small breakfast bar in Kitchen, step down to a Roomy, Sunny Living area. Appliances include, Electric Range & Refrigerator. New flooring & CLEAN. .Laundry hook-ups inside. The yard is Chain-link fenced.

7. 2007-10-07
   soldstatus $83,000

ⓘ 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: $1,763 · $147/mo
• Projected year-2 tax: $1,763 · $147/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 23 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,001
• − Mortgage interest: −$6,722
• − Property taxes: −$1,763
• − Insurance: −$600
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − Depreciation: −$3,491
• Taxable income: $1,705
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $3,107/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 — 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 (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

+44.6% since first listed

7 events — show timeline

• 2026-05-17 Price Changed $120,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-29 Price Changed $140,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-08 Listed $161,000 Stellar MLS as Distributed by MLS Grid
• 2014-01-29 Sold (Public Records) $47,700 Public Records
• 2014-01-24 Price Changed $49,000 FORTMLS
• 2014-01-24 Sold (MLS) $47,700 FORTMLS
• 2007-10-07 Sold (Public Records) $83,000 Public Records

Property tax history

+10.4%/yr

Latest (2025): $1,763 · +17.5% YoY. Source: county tax records.