1040 24th St · Buckhead Ridge, FL 34974

$159,500

3 bd · 2.0 ba · 840 sqft · Manufactured public records · 7 Days on market

Built 1977 7,666 sqft lot

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Why this score? — see what drove the C- 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 +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.2/10.0
• 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

Buckhead Ridge on the canal with access to Lake Okeechobee. This property is a Fishing Paradise Cottage! Furnished and well maintained 2 bedrooms/ 11/2 bath, open concept with split bedrooms and a metal roof. Long driveway with a carport, plenty of parking for your boat. Property is fenced with a storage shed, good concrete seawall with a covered dock and of course a fish cleaning station, just bring your fishing rods. Premier host on airbnb and vrbo in a great neighborhood. This property is a must see! Call for your showing today. All measurements are approximate.

Key facts

• Private boat dock
• Canal front
• Canal views

Tags

• CANAL FRONT
• PRIVATE BOAT DOCK
• WATER ACCESS
• CANAL VIEWS

Property features AI

Exterior

• Parking: 3 total parking spaces; Attached carport (1 covered carport space); Driveway
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank; Electricity connected; Cable available; Water connected
• Home design: Mobile home (single wide); One story; Faces southeast; Resale property
• Construction: Vinyl siding; Metal roof
• Exterior features: Chain link fencing; Outbuilding / shed / storage; Room for a pool; Lake and river access (waterfront)

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Accessible entrance with ramp; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.3% 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).
• This rent runs 37% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,500

Questions for the listing agent

1. Built in 1977 — 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 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?
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: 1.02% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.25%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $97,440
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 Chobee St	0.28mi	2/1.5 (-1)	861 (+2%)	9mo	$100,000	$116	68
1071 Peach Ln	0.15mi	2/2.0 (-1)	902 (+7%)	12mo	$74,900	$83	66
1220 9th St	0.69mi	2/2.0 (-1)	896 (+7%)	13mo	$164,900	$184	41

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-8,703
• Equity at exit: $23,782

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $14,407
• Equity at exit: $13,791

Cash invested: $44,660 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,621 medium
• Mortgage (P&I): −$836
• Tax from tax record: −$108 /mo · $1,292/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $270

Break-even live

Break-even rent $1,279

Max offer price $159,500

Occupancy floor 78%

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-16
   status $159,500 Pending 7 DOM
2. 2026-06-15
   days on market $159,500 Active 7 DOM
3. 2026-06-14
   days on market $159,500 Active 5 DOM
4. 2026-06-12
   days on market $159,500 Active 4 DOM
5. 2026-06-09
   remarks 479-char remark
6. 2026-06-09
   listed $159,500 Active 1 DOM

ⓘ 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: $1,292 · $108/mo
• Projected year-2 tax: $1,324 · $110/mo
• Expected delta: +$31/yr (+$3/mo · 2.4%)

ⓘ 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 ≥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: $19,447
• − Mortgage interest: −$8,934
• − Property taxes: −$1,292
• − Insurance: −$798
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$4,640
• Taxable income: $671
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $3,075/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

+200.9% since first listed

11 events — show timeline

• 2026-06-05 Listed $159,500 Beaches MLS
• 2022-06-06 Sold (MLS) $162,500 Stellar MLS as Distributed by MLS Grid
• 2022-04-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-14 Listed $164,500 Stellar MLS as Distributed by MLS Grid
• 2019-05-20 Sold (MLS) $89,000 Stellar MLS as Distributed by MLS Grid
• 2019-04-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2019-04-16 Price Changed $89,000 Stellar MLS as Distributed by MLS Grid
• 2019-03-04 Listed $98,000 Stellar MLS as Distributed by MLS Grid
• 2019-03-01 Sold (MLS) $72,000 Stellar MLS as Distributed by MLS Grid
• 2018-10-24 Listed $79,000 Stellar MLS as Distributed by MLS Grid
• 2001-04-09 Sold (Public Records) $53,000 Public Records

Property tax history

+8.7%/yr

Latest (2022): $1,292 · +11.7% YoY. Source: county tax records.