3311 NW 24th Ave · Okeechobee, FL 34972

$191,400

3 bd · 2.0 ba · 1,545 sqft · SingleFamily public records · 73 Days on market

Built 1990 0.36 ac lot Est $326k · 41% 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.0/10.0

Listing remarks

Located in the Basswood this 4 bedroom 2 bathroom 1,545 square foot home is situated on a large lot. Key features in covered entries, large covered front patio, fenced lot, shed, large living room, and separate kitchen. With some updates and a good cleaning this could be an amazing home. Bank Owned. Call today to schedule a showing.

Key facts

• Covered entries
• Separate kitchen
• Large lot

Tags

• COVERED ENTRIES
• COVERED FRONT PATIO
• FENCED LOT
• LARGE LIVING ROOM
• SEPARATE KITCHEN
• LARGE LOT

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Well water; Septic tank; Electricity available
• Home design: Single-family residence; One story; Resale property; Entry level: One
• Construction: CBS construction; Shingle roof; Slab foundation; Built as a single-story structure
• Exterior features: East-facing; Not waterfront

Interior

• Bedrooms: 3 bedrooms on the main level
• Flooring: Tile and other flooring types
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: High ceilings; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $191k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $191k).
• Recommended offer: $180k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Zoned schools: Seminole Elementary School (math 57% / reading 54%, grade C, #855 of 2,144 statewide, top 41%, 502 students, 75% FRL); Yearling Middle School (math 45% / reading 32%, grade F, #384 of 571 statewide, top 68%, 668 students, 70% FRL); Okeechobee High School (math 30% / reading 42%, grade F, #359 of 667 statewide, top 55%, 1,692 students, 62% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: 644 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 73 days — a 6% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $191k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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 $179,916 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.08% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $325,995
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3269 NW 24th Ave	0.02mi	3/2.0	1,601 (+4%)	4mo	$337,500	$211	90
3845 NW 27th Ave	0.39mi	3/2.0	1,534 (-1%)	6mo	$350,000	$228	75
3897 NW 22nd Ave	0.38mi	3/2.0	1,456 (-6%)	0mo	$337,900	$232	72
3572 NW 19th Ave	0.37mi	3/2.0	1,519 (-2%)	21mo	$345,000	$227	62
3268 NW 20th Ave	0.27mi	3/2.0	1,485 (-4%)	22mo	$345,000	$232	62
3573 NW 28th Ave	0.29mi	3/2.0	1,607 (+4%)	21mo	$338,000	$210	62
3670 NW 27th Ave	0.27mi	4/2.0 (+1)	1,495 (-3%)	20mo	$272,000	$182	61
3268 NW 29th Ave	0.27mi	3/2.0	1,333 (-14%)	5mo	$284,000	$213	60
3817 NW 35th Ave	0.75mi	4/2.0 (+1)	1,536 (-1%)	10mo	$232,500	$151	51
2987 NW 33rd Ave	0.58mi	3/2.0	1,723 (+12%)	7mo	$315,000	$183	48
3966 NW 17th Ave	0.61mi	3/2.0	1,388 (-10%)	21mo	$205,000	$148	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-9,972
• Equity at exit: $28,538

10-year hold

• IRR: 4.7%
• Equity multiple: 1.34×
• Total profit: $18,472
• Equity at exit: $16,549

Cash invested: $53,592 (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 34972

• Home prices YoY: -1.5%
• Active inventory: 644
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,072 medium
• Mortgage (P&I): −$1,004
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$80
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $330

Break-even live

Break-even rent $1,654

Max offer price $191,400

Occupancy floor 79%

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: $47,850
• Closing costs: $5,742
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $191,400 Active 73 DOM
2. 2026-06-18
   days on market $191,400 Active 72 DOM
3. 2026-06-17
   days on market $191,400 Active 71 DOM
4. 2026-06-16
   days on market $191,400 Active 70 DOM
5. 2026-06-15
   days on market $191,400 Active 69 DOM
6. 2026-06-14
   days on market $191,400 Active 67 DOM
7. 2026-06-10
   days on market $191,400 Active 64 DOM
8. 2026-06-09
   days on market $191,400 Active 63 DOM
9. 2026-06-08
   days on market $191,400 Active 62 DOM
10. 2026-06-07
    days on market $191,400 Active 61 DOM
11. 2026-06-05
    days on market $191,400 Active 58 DOM
12. 2026-06-03
    pricedays on market $191,400 Active 57 DOM
13. 2026-06-02
    days on market $208,000 Active 56 DOM
14. 2026-06-01
    days on market $208,000 Active 55 DOM
15. 2026-05-31
    days on market $208,000 Active 54 DOM
16. 2026-05-30
    days on market $208,000 Active 53 DOM
17. 2026-04-06
    listed $208,000 Active
18. 2025-12-29
    listed $5,000 Active
19. 2001-07-03
    soldstatus $76,000
20. 1997-01-01
    soldstatus $65,000

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,589 · $132/mo
• Expected delta: +$409/yr (+$34/mo · 34.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,867
• − Mortgage interest: −$10,721
• − Property taxes: −$1,180
• − Insurance: −$2,460
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$5,568
• Taxable income: $959
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $3,730/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

• City population: 23,975
• Population (ZIP): 19,185

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Hispanic / Latino 30% Black 14% Two or more races 14%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1% Cuban 1%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 12% · Canada, Dominican Republic
• Languages at home: 77% English-only · Spanish 22% Other Indo-European 0%

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: ▼ -5.94%
• Current HPI: 389.1156
• Rent YoY: —
• Metro: —
• 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

+220.0% since first listed

4 events — show timeline

• 2026-04-06 Listed $208,000 Beaches MLS
• 2025-12-29 Listed $5,000 NFMLS
• 2001-07-03 Sold (Public Records) $76,000 Public Records
• 1997-01-01 Sold (Public Records) $65,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,180 · +4.1% YoY. Source: county tax records.