505 Washington Blvd NE · Lake Placid, FL 33852

$169,900

1 bd · 1.0 ba · 675 sqft · SingleFamily public records · 410 Days on market

Built 1984 Est $128k · 32% over

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Why this score? — see what drove the F 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 +11.9/30.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This charming, completely remodeled 1-bedroom, 1-bathroom villa is nestled in the serene Placid Lakes community of Lake Placid, FL. Perfect as a starter home or a lucrative investment property, this move-in-ready gem offers modern comforts and an unbeatable location for those seeking a peaceful yet active and affordable Florida lifestyle. Step into a fresh, contemporary space featuring new flooring, updated fixtures, modern appliances, and stylish finishes throughout. The open-concept living area maximizes space and natural light, creating a cozy yet airy atmosphere ideal for a relaxing retreat. Situated in the heart of Placid Lakes, this villa is just a short drive from vibrant downtown La

Key facts

• Modern appliances
• Remodeled villa
• Community events

Tags

• REMODELED VILLA
• MODERN APPLIANCES
• OPEN-CONCEPT LIVING AREA
• SHORT DRIVE TO DOWNTOWN
• EASY ACCESS TO LOCAL EATERIES
• COMMUNITY EVENTS

Property features AI

Exterior

• Parking: 1 parking space
• Utilities: Public water; Public sewer (sewer available)
• Home design: Single-family residence (villa); One level
• Construction: Block and concrete construction
• Exterior features: Shingle roof; No patio or porch; No pool; Paved road access; R1 zoning

Interior

• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall unit cooling
• Interior features: Vinyl flooring; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-43 ($-517/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (24.6% below list).
• Recommended offer: $128k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: amenities F, commute F, employment 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.
• Zoned schools: Lake Placid Elementary School (math 32% / reading 29%, grade F, #1,862 of 2,144 statewide, top 88%, 594 students, 80% FRL); Lake Placid Middle School (math 42% / reading 33%, grade F, #395 of 571 statewide, top 70%, 621 students, 75% FRL); Lake Placid High School (math 36% / reading 35%, grade F, #367 of 667 statewide, top 57%, 868 students, 66% FRL).
• Market conditions: Rents flat; 1495 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 410 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,101 (24.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 410 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $128,250
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Washington Blvd NE	0.01mi	1/1.0	675 (0%)	22mo	$50,000	$74	81
118 Country Dr	0.49mi	1/1.0	774 (+15%)	23mo	$147,000	$190	33

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: -20.3%
• Equity multiple: 0.30×
• Total profit: $-33,077
• Equity at exit: $25,333

10-year hold

• IRR: -18.5%
• Equity multiple: 0.09×
• Total profit: $-43,353
• Equity at exit: $14,690

Cash invested: $47,572 (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: 1495
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,281 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$93 /mo · $1,119/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-43

Break-even live

Break-even rent $1,335

Max offer price $162,296

Occupancy floor 98%

Sensitivity live

Price	-10% $53	-5% $5	+0% $-43	+5% $-91	+10% $-139
Rent	-10% $-144	-5% $-94	+0% $-43	+5% $8	+10% $58
Rate	-1.0pp $43	-0.5pp $0	base $-43	+0.5pp $-87	+1.0pp $-132

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-10
   days on market $169,900 Active 410 DOM
2. 2026-06-09
   days on market $169,900 Active 409 DOM
3. 2026-06-08
   days on market $169,900 Active 408 DOM
4. 2026-06-07
   days on market $169,900 Active 407 DOM
5. 2026-06-02
   days on market $169,900 Active 402 DOM
6. 2026-06-01
   days on market $169,900 Active 401 DOM
7. 2026-05-31
   days on market $169,900 Active 400 DOM
8. 2026-05-30
   days on market $169,900 Active 399 DOM
9. 2025-09-13
   price $169,900
10. 2025-09-10
    status Active
11. 2025-09-09
    historical
12. 2025-04-26
    listed $175,000 Active
13. 2024-05-13
    soldstatus $150,000
14. 1984-07-01
    soldstatus $20,900

ⓘ 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: $1,119 · $93/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$291/yr (+$24/mo · 26.0%)

ⓘ 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 4/10 Moderate
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,372
• − Mortgage interest: −$9,517
• − Property taxes: −$1,119
• − Insurance: −$850
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$4,943
• Taxable loss: −$3,516
• Est. tax savings @ 24.0%: +$844
• After-tax cash flow: $327/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

+712.9% since first listed

6 events — show timeline

• 2025-09-13 Price Changed $169,900 HAOR as distributed by MLS GRID
• 2025-09-10 Relisted — HAOR as distributed by MLS GRID
• 2025-09-09 Delisted — HAOR as distributed by MLS GRID
• 2025-04-26 Listed $175,000 HAOR as distributed by MLS GRID
• 2024-05-13 Sold (Public Records) $150,000 Public Records
• 1984-07-01 Sold (Public Records) $20,900 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,119 · +28.0% YoY. Source: county tax records.