3704 Dustin Dr · LaBelle, FL 33935

$230,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 59 Days on market

Built 1998 0.50 ac lot Est $279k · 18% under

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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 +15.5/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.8/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Escape the city and embrace the tranquility of rural life with this charming 4/2 manufactured home located in the heart of LaBelle! Built in 1998, and 1,440 sq. ft. this solid home features a durable metal roof, spacious interior, and sits on half an acre perfect for outdoor enthusiasts, gardeners, or anyone looking for room to spread out. This home is ideal for those who crave peace, privacy, and plenty of yard space. Whether you're dreaming of raising chickens, planting fruit trees, or simply enjoying the stars at night without city lights this home makes it possible.

Key facts

• Enjoying the stars
• Metal roof
• Planting fruit trees

Tags

• METAL ROOF
• HALF AN ACRE
• YARD SPACE
• RAISING CHICKENS
• PLANTING FRUIT TREES
• ENJOYING THE STARS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (13.0% below list).
• Recommended offer: $200k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.8% in LaBelle — 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 72/100 on livability (#324 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F, employment F.
• Hendry (town): math 35% / reading 40% proficiency, ranked #65 of 73 in FL (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 942 active listings in the ZIP; 557 units permitted in Hendry County in 2024 (45 in 5+ unit buildings).
• This rent runs 42% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Hendry County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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.
• Current owner paid $50k; list at $230k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $200,204 (13.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.87% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $279,360
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1105 Evans Rd	0.64mi	4/2.0 (+1)	1,440 (0%)	12mo	$280,000	$194	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.04×
• Total profit: $131,076
• Equity at exit: $207,202

10-year hold

• IRR: 22.4%
• Equity multiple: 6.92×
• Total profit: $381,342
• Equity at exit: $446,839

Cash invested: $64,400 (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 33935

• Home prices YoY: 16.3%
• Active inventory: 942
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,002 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$188 /mo · $2,255/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $92

Break-even live

Break-even rent $1,886

Max offer price $230,000

Occupancy floor 90%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-05
   status Pending
2. 2026-04-30
   historical
3. 2026-03-16
   listed $230,000 Active
4. 2026-03-13
   price $230,000
5. 2026-03-07
   listed $234,000 Active
6. 2026-03-06
   historical
7. 2025-12-31
   historical
8. 2025-12-02
   price $234,000
9. 2025-09-30
   listed $249,000 Active
10. 2025-09-11
    listed $249,000 Active
11. 2015-02-02
    soldstatus $50,000
12. 2015-01-30
    price $50,000
13. 2015-01-30
    soldstatus $50,000 Sold
14. 2015-01-27
    price $59,900
15. 2015-01-13
    status Pending
16. 2015-01-07
    listed $59,900 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: $2,255 · $188/mo
• Projected year-2 tax: $2,255 · $188/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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,024
• − Mortgage interest: −$12,884
• − Property taxes: −$2,255
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − Depreciation: −$6,691
• Taxable loss: −$2,799
• Est. tax savings @ 24.0%: +$672
• After-tax cash flow: $1,773/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: Hendry
• NCES district ID: 1200780
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $37,043
• Composite: 31.16/100
• National rank: #6054
• State rank: #65 of 73 in FL

Livability — LaBelle

• Score: 72/100
• State rank: #324
• US rank: #5736

Category grades

Amenities C+ Commute F Cost of living A+ Crime C+ Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hendry County · 23,186 people
• Metro: Clewiston, FL
• Population (ZIP): 23,186
• Household income: $57,009
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 498.0

Population outlook (Hendry County) Hauer SSP2

• Today (2025): 38,866 people
• By 2030: 38,558 · -0.8%
• By 2040: 37,743 · -2.9%
• By 2050: 36,117 · -7.1%
• By 2075: 30,070 · -22.6%
• By 2100: 21,966 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% White 39% Two or more races 21% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 40% Puerto Rican 3% Cuban 5%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 50% English-only · Spanish 50%

Political lean MEDSL · Hendry

• 2024 margin: Solid R (+38.3) · D 30.4% · R 68.7%
• 2008→2024 swing: -31.1pp toward R · 2008: -7.2pp · 2024: -38.3pp
• All cycles: 2024: R+38.3 2020: R+23.0 2016: R+14.2 2012: R+5.9 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 75.20%
• Current HPI: 537.4928
• Rent YoY: —
• Metro: Clewiston, 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

+284.0% since first listed

16 events — show timeline

• 2026-05-05 Pending — FORTMLS
• 2026-04-30 Listing Removed — MARMLS
• 2026-03-16 Listed $230,000 MARMLS
• 2026-03-13 Price Changed $230,000 FORTMLS
• 2026-03-07 Listed $234,000 FORTMLS
• 2026-03-06 Listing Removed — FORTMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-12-02 Price Changed $234,000 FORTMLS
• 2025-09-30 Listed $249,000 MARMLS
• 2025-09-11 Listed $249,000 FORTMLS
• 2015-02-02 Sold (Public Records) $50,000 Public Records
• 2015-01-30 Price Changed $50,000 FORTMLS
• 2015-01-30 Sold (MLS) $50,000 FORTMLS
• 2015-01-27 Price Changed $59,900 FORTMLS
• 2015-01-13 Pending — FORTMLS
• 2015-01-07 Listed $59,900 FORTMLS

Property tax history

+6.9%/yr

Latest (2025): $2,255 · +7.4% YoY. Source: county tax records.