1511 Mulberry Ave · Lake Placid, FL 33852

$130,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 2 Days on market

Built 1962 10,375 sqft lot Est $223k · 42% 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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come.  The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family. Whether you're looking for a place to call home or an investment opportunity in this thriving area, this property ticks all the boxes. Contact us today to schedule a viewing and make this your new address in Central Florida!

Key facts

• 0.24 acre lot
• Parking
• Built 1962

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.3% vs local median 3.7% in Lake Placid — 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 68/100 on livability (#525 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living 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 flat; 1488 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• This rent runs 38% of the median local income ($54k/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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $60k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.29%
• DSCR: 1.64
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $223,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1502 Oak Ave	0.46mi	3/2.0	1,139 (-1%)	3mo	$250,000	$219	74
1507 Chatsworth St	0.39mi	3/2.0	1,139 (-1%)	11mo	$268,000	$235	71
350 Hallmark Ave	0.51mi	3/2.0	1,150 (-0%)	7mo	$255,000	$222	70
1536 Meadowbrook St	0.38mi	2/2.0 (-1)	1,162 (+1%)	8mo	$225,000	$194	69
1619 Chatsworth St	0.47mi	3/2.0	1,175 (+2%)	9mo	$215,000	$183	67
1544 Camellia Ct	0.23mi	2/2.0 (-1)	1,232 (+7%)	7mo	$208,000	$169	67
1512 Cedarbrook St	0.46mi	3/2.0	1,055 (-8%)	1mo	$247,500	$235	64
1616 Oak Ave	0.39mi	2/2.0 (-1)	1,273 (+10%)	2mo	$218,000	$171	58
1535 Meadowbrook St	0.41mi	2/1.5 (-1)	1,278 (+11%)	1mo	$230,000	$180	55
1607 Cedarbrook St	0.51mi	3/2.0	1,313 (+14%)	2mo	$195,000	$149	51
1726 Buck St	0.67mi	2/1.5 (-1)	1,200 (+4%)	9mo	$250,000	$208	48
425 Sandpiper St	0.67mi	2/2.0 (-1)	1,000 (-13%)	5mo	$183,000	$183	37

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 · 0.82% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $2,911
• Equity at exit: $19,383

10-year hold

• IRR: 9.4%
• Equity multiple: 1.65×
• Total profit: $23,835
• Equity at exit: $11,240

Cash invested: $36,400 (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 33852

• Rents YoY: 0.8%
• Active inventory: 1488
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,707 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$179 /mo · $2,149/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $433

Break-even live

Break-even rent $1,158

Max offer price $130,000

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2024-06-05
   soldstatus $180,000
2. 2024-05-30
   soldstatus $180,000 Closed 959-char remark

   Show marketing remark (728 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

3. 2024-05-30
   soldstatus $180,000 Closed 728-char remark

   Show marketing remark (728 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

4. 2024-05-22
   status Pending 959-char remark

   Show marketing remark (959 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come.  The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family. Whether you're looking for a place to call home or an investment opportunity in this thriving area, this property ticks all the boxes. Contact us today to schedule a viewing and make this your new address in Central Florida!

5. 2024-04-25
   historical Active Under Contract 959-char remark

   Show marketing remark (728 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

6. 2024-04-25
   status Pending 728-char remark

   Show marketing remark (728 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

7. 2024-04-18
   price $185,000 728-char remark

   Show marketing remark (959 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come.  The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family. Whether you're looking for a place to call home or an investment opportunity in this thriving area, this property ticks all the boxes. Contact us today to schedule a viewing and make this your new address in Central Florida!

8. 2024-04-18
   price $185,000 959-char remark

   Show marketing remark (959 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come.  The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family. Whether you're looking for a place to call home or an investment opportunity in this thriving area, this property ticks all the boxes. Contact us today to schedule a viewing and make this your new address in Central Florida!

9. 2024-04-09
   price $188,900 959-char remark

   Show marketing remark (728 chars)

   Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

10. 2024-04-09
    price $188,900 728-char remark

    Show marketing remark (728 chars)

    Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

11. 2024-03-22
    listed $189,900 Active 728-char remark

    Show marketing remark (728 chars)

    Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come. The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family.

12. 2024-03-21
    listed $189,900 Active 959-char remark

    Show marketing remark (959 chars)

    Welcome to your new home in the charming community of Lake Placid, Florida! This spacious 3-bedroom, 2-bathroom residence is situated on a generous corner lot in the desirable Silvan Shores neighborhood, just a stone's throw away from the serene Lake Clay. As you enter, you'll immediately notice the attached carport, offering convenient parking for your vehicles and protection from the elements. This home has been recently upgraded with a brand-new roof and air conditioning system, providing peace of mind and energy efficiency for years to come.  The heart of the home features a stunning new kitchen complete with sleek stainless-steel appliances, perfect for preparing delicious meals and entertaining friends and family. Whether you're looking for a place to call home or an investment opportunity in this thriving area, this property ticks all the boxes. Contact us today to schedule a viewing and make this your new address in Central Florida!

13. 2023-11-09
    soldstatus $100,000
14. 2023-10-14
    status Pending
15. 2023-10-12
    listed $130,000 Active

ⓘ 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: $2,149 · $179/mo
• Projected year-2 tax: $2,149 · $179/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 26 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: $20,482
• − Mortgage interest: −$7,282
• − Property taxes: −$2,149
• − Insurance: −$650
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$3,782
• Taxable income: $3,342
• Est. tax owed @ 24.0%: −$802
• After-tax cash flow: $4,399/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 — Lake Placid

• Score: 68/100
• State rank: #525
• US rank: #9813

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing B- 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: 22,600
• Metro: Sebring-Avon Park, FL
• Population (ZIP): 22,600
• Household income: $54,284
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 439.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 22% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 1%
• Foreign-born: 14% · Canada, Dominican Republic
• Languages at home: 79% English-only · Spanish 19% Tagalog/Filipino 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: ▼ -203.31%
• Current HPI: 224.8693
• Rent YoY: ▲ 0.82%
• 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

+38.5% since first listed

15 events — show timeline

• 2024-06-05 Sold (Public Records) $180,000 Public Records
• 2024-05-30 Sold (MLS) $180,000 MARMLS
• 2024-05-30 Sold (MLS) $180,000 HAOR as distributed by MLS GRID
• 2024-05-22 Pending — HAOR as distributed by MLS GRID
• 2024-04-25 Contingent — HAOR as distributed by MLS GRID
• 2024-04-25 Pending — MARMLS
• 2024-04-18 Price Changed $185,000 MARMLS
• 2024-04-18 Price Changed $185,000 HAOR as distributed by MLS GRID
• 2024-04-09 Price Changed $188,900 HAOR as distributed by MLS GRID
• 2024-04-09 Price Changed $188,900 MARMLS
• 2024-03-22 Listed $189,900 MARMLS
• 2024-03-21 Listed $189,900 HAOR as distributed by MLS GRID
• 2023-11-09 Sold (Public Records) $100,000 Public Records
• 2023-10-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-10-12 Listed $130,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+19.3%/yr

Latest (2025): $2,149 · +2.7% YoY. Source: county tax records.