1350 N Lake Ave #153

Avon Park, FL 33825

$11,777D

1 bd · 1.0 ba · 500 sqft · Built 1971 · Manufactured · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $912/mo
• Mortgage (P&I): −$62
• Tax + insurance: −$20
• HOA: −$0
• Vac / Maint / Mgmt: −$192
• Net cashflow: $639/mo
• Annual: $7,669/yr
• Cap rate: 71.41%
• Cash-on-cash: 232.55%
• DSCR: 11.35
• 1% rule: 7.74%
• Cash to close: $3,298

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $12k.
• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($912 rent vs $12k).
• It's been on market 100 days — a 9% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $11k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $82 of loan paydown is wiped out by about $353 of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#407 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools F, amenities 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: 475 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 71.4% vs local median 3.9% in Avon Park — 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.

Questions for listing agent

• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.