24 Freedom Way · Lake Placid, FL 33852

$179,000

2 bd · 2.0 ba · 864 sqft · Manufactured public records · 79 Days on market

Built 1993 2,519 sqft lot Est $161k · 11% over $135/mo HOA · 10% of rent

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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 +7.6/30.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

++ Gorgeous - Low Maintenance - Beautiful Amenities ++ Located in Camp Florida Resort, this neighborhood is an amazing, gated resort with many amenities & deeded boat ramp access into Lake Grassy. There is NO LOT RENT. You would OWN the land & NO age restrictions. This home is located on one of the only pet-friendly circles in the community. Boat launch access on beautiful Lake Grassy. Lake Grassy is a spring-fed, deed restricted lake with over 530 acres of clean water. Great for fishing, water sports, swimming, and sightseeing. This double-wide is totally gorgeous & spacious - boasting almost 1200 sqft of living space. 3 bedrooms and 2 bathrooms - rare for this neighborho

Key facts

• Landscaped backyard
• Covered carport
• Kitchen remodeled

Tags

• DEEDED BOAT RAMP ACCESS
• SPRING FED LAKE
• KITCHEN REMODELED
• COVERED CARPORT
• SHED STORAGE AREA
• LANDSCAPED BACKYARD

Property features AI

Finance

• HOA & community: Homeowners association with quarterly fee; Association amenities include boating and powered boats allowed; Community features: fitness center, pool, tennis courts

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Sewer available
• Home design: Mobile home; One level
• Construction: Frame construction; Other roof
• Exterior features: Deck; Shed(s); Workshop; Waterfront access; Paved road frontage

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Electric water heater
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $-216 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (20.9% below list).
• Recommended offer: $141k (21.3% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.8% in Lake Placid — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 Country Elementary School (math 57% / reading 54%, grade C, #855 of 2,144 statewide, top 41%, 685 students, 73% 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) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents flat; 1495 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• This rent runs 31% of the median local income ($54k/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.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $110k; list at $179k implies a 63% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,832 (21.3% 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 79 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 4.84%
• Cash-on-cash: -5.17%
• DSCR: 0.77
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $160,704
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Windward Dr	0.14mi	2/1.0	840 (-3%)	2mo	$110,000	$131	83
54 Sand Cir	0.30mi	2/2.0	888 (+3%)	23mo	$165,000	$186	62

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: -27.7%
• Equity multiple: 0.09×
• Total profit: $-45,724
• Equity at exit: $26,689

10-year hold

• IRR: -37.8%
• Equity multiple: -0.38×
• Total profit: $-69,141
• Equity at exit: $15,477

Cash invested: $50,120 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$186 /mo · $2,231/yr
• Insurance: −$75
• HOA: −$135
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-216

Break-even live

Break-even rent $1,689

Max offer price $140,832

Occupancy floor —

Sensitivity live

Price	-10% $-115	-5% $-165	+0% $-216	+5% $-267	+10% $-317
Rent	-10% $-328	-5% $-272	+0% $-216	+5% $-160	+10% $-104
Rate	-1.0pp $-126	-0.5pp $-171	base $-216	+0.5pp $-262	+1.0pp $-310

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $135 · $1,620/yr
• Likely covers: watersecurity

Listing history 29 events

1. 2026-06-21
   days on market $179,000 Active 79 DOM
2. 2026-06-19
   days on market $179,000 Active 77 DOM
3. 2026-06-18
   days on market $179,000 Active 76 DOM
4. 2026-06-17
   days on market $179,000 Active 75 DOM
5. 2026-06-16
   days on market $179,000 Active 74 DOM
6. 2026-06-15
   days on market $179,000 Active 73 DOM
7. 2026-06-14
   days on market $179,000 Active 71 DOM
8. 2026-06-10
   days on market $179,000 Active 68 DOM
9. 2026-06-09
   days on market $179,000 Active 67 DOM
10. 2026-06-08
    days on market $179,000 Active 66 DOM
11. 2026-06-07
    days on market $179,000 Active 65 DOM
12. 2026-06-02
    days on market $179,000 Active 60 DOM
13. 2026-06-01
    days on market $179,000 Active 59 DOM
14. 2026-05-31
    days on market $179,000 Active 58 DOM
15. 2026-05-30
    days on market $179,000 Active 57 DOM
16. 2026-04-03
    listed $179,000 Active
17. 2024-06-08
    price $229,000
18. 2024-06-02
    price $239,000
19. 2024-05-24
    price $244,000
20. 2024-05-15
    price $245,000
21. 2024-05-06
    price $250,000
22. 2024-04-22
    listed $259,000 Active
23. 2021-01-22
    soldstatus $110,000
24. 2015-02-23
    soldstatus $92,500
25. 2007-03-05
    soldstatus $105,000
26. 2006-05-23
    soldstatus $107,000
27. 2003-01-16
    soldstatus $67,000
28. 1996-12-06
    soldstatus $48,000
29. 1992-08-01
    soldstatus $17,000

ⓘ 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: $2,231 · $186/mo
• Projected year-2 tax: $2,231 · $186/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,984
• − Mortgage interest: −$10,027
• − Property taxes: −$2,231
• − Insurance: −$895
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − HOA: −$1,620
• − Depreciation: −$5,207
• Taxable loss: −$5,713
• Est. tax savings @ 24.0%: +$1,371
• After-tax cash flow: $-1,222/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

+952.9% since first listed

14 events — show timeline

• 2026-04-03 Listed $179,000 HAOR as distributed by MLS GRID
• 2024-06-08 Price Changed $229,000 HAOR as distributed by MLS GRID
• 2024-06-02 Price Changed $239,000 HAOR as distributed by MLS GRID
• 2024-05-24 Price Changed $244,000 HAOR as distributed by MLS GRID
• 2024-05-15 Price Changed $245,000 HAOR as distributed by MLS GRID
• 2024-05-06 Price Changed $250,000 HAOR as distributed by MLS GRID
• 2024-04-22 Listed $259,000 HAOR as distributed by MLS GRID
• 2021-01-22 Sold (Public Records) $110,000 Public Records
• 2015-02-23 Sold (Public Records) $92,500 Public Records
• 2007-03-05 Sold (Public Records) $105,000 Public Records
• 2006-05-23 Sold (Public Records) $107,000 Public Records
• 2003-01-16 Sold (Public Records) $67,000 Public Records
• 1996-12-06 Sold (Public Records) $48,000 Public Records
• 1992-08-01 Sold (Public Records) $17,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,231 · +72.4% YoY. Source: county tax records.