21 Venetian Pkwy · Lake Placid, FL 33852

$175,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 114 Days on market

Built 2005 5,950 sqft lot Est $165k · 6% over $102/mo HOA · 6% of rent

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Why this score? — see what drove the D+ 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 +19.3/30.0
• DSCR +6.1/10.0
• ARV discount +4.9/15.0
• 1% rule +4.8/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the popular subdivision of Covered Bridge an active adult lifestyle community in the outskirts of Lake Placid. This mobile is on its own land. Features 2 bedrooms, 2 bathrooms, open floor plan with an inhouse laundry. Low HOA covers clubhouse and more. This is a great place to live!

Key facts

• Open floor plan
• Clubhouse
• Own land

Tags

• OWN LAND
• OPEN FLOOR PLAN
• CLUBHOUSE

Property features AI

Finance

• Other: Senior community; Community clubhouse and fitness center; Paved road frontage (50' frontage)
• HOA & community: Homeowners association with powered boats allowed; Quarterly association fee ($306)

Exterior

• Parking: Carport (2 spaces)
• Utilities: Public water; Public sewer; Cable available; Sewer available; Well irrigation source
• Home design: Mobile home; One story; Residential property
• Construction: Aluminum siding; Vinyl siding; Frame construction; Shingle roof
• Exterior features: Patio; Shed(s); Workshop; Community pool available

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Electric water heater
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Ceiling fans; Blinds; Partially furnished; 7 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/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 $171k (2.0% below list).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.8% 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).
• This rent runs 38% 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 114 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.98% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $165,312
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Venetian Pkwy	0.04mi	3/2.0	1,296 (-4%)	14mo	$160,000	$123	81
10 Venetian Pkwy	0.07mi	2/2.0 (-1)	1,384 (+3%)	18mo	$170,000	$123	72
21 Pinecrest St	0.05mi	2/2.0 (-1)	1,200 (-11%)	12mo	$177,500	$148	64
259 Hillside Dr	0.73mi	2/2.0 (-1)	1,297 (-4%)	10mo	$101,000	$78	47
65 Pinecrest St	0.15mi	2/2.0 (-1)	1,144 (-15%)	22mo	$129,000	$113	44

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: -11.4%
• Equity multiple: 0.60×
• Total profit: $-19,772
• Equity at exit: $26,093

10-year hold

• IRR: -5.5%
• Equity multiple: 0.68×
• Total profit: $-15,889
• Equity at exit: $15,131

Cash invested: $49,000 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$69 /mo · $829/yr
• Insurance: −$73
• HOA: −$102
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $193

Break-even live

Break-even rent $1,471

Max offer price $175,000

Occupancy floor 84%

Sensitivity live

Price	-10% $292	-5% $242	+0% $193	+5% $143	+10% $94
Rent	-10% $57	-5% $125	+0% $193	+5% $260	+10% $328
Rate	-1.0pp $281	-0.5pp $237	base $193	+0.5pp $147	+1.0pp $101

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $102 · $1,224/yr

Listing history 4 events

1. 2026-05-31
   days on market $175,000 Active 114 DOM
2. 2026-05-30
   days on market $175,000 Active 113 DOM
3. 2026-02-06
   listed $175,000 Active
4. 2004-10-25
   soldstatus $600,000

ⓘ 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: $829 · $69/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$624/yr (+$52/mo · 75.2%)

ⓘ 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 6 d/yr ≥108°F today · 21 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: $20,572
• − Mortgage interest: −$9,803
• − Property taxes: −$829
• − Insurance: −$875
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − HOA: −$1,224
• − Depreciation: −$5,091
• Taxable loss: −$541
• Est. tax savings @ 24.0%: +$130
• After-tax cash flow: $2,441/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

-70.8% since first listed

2 events — show timeline

• 2026-02-06 Listed $175,000 HAOR as distributed by MLS GRID
• 2004-10-25 Sold (Public Records) $600,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $829 · +2.3% YoY. Source: county tax records.