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73 Lake Henry Dr
Lake Placid, FL

73 Lake Henry Dr

150K
0 bd • 0 ba • 1,007 sf

This analysis was generated by artificial intelligence on 2/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

0:00
0:00 / 0:00
List Price

$150,000

Price/Sq.Ft

$149

Year Built

1974

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Unique Dome Structure: The dome shape offers a distinctive architectural style that may appeal to some buyers, and potentially increased protection against hurricanes. • Low Flood Risk: The property has a minimal flood risk (1/10) and is in FEMA Zone X_UNSHADED, reducing the need for flood insurance. • Below Average Price Per Square Foot: At $148.96/sqft, the property is priced competitively compared to the median price per square foot in some other Florida markets. • Estimated Low Insurance Cost: The estimated insurance cost of $540/year is relatively low, potentially reducing overall ownership expenses.

The Bad

• Unknown Number of Bedrooms and Bathrooms: The listing lacks specific information on the number of bedrooms and bathrooms, making it difficult to assess the property's suitability. • Reliance on Description: The description's claim of hurricane safety should not be taken at face value. A professional inspection is necessary to verify this claim. • Unclear Lot Size: While the description mentions a 'nice big lot,' the actual size is not quantified, making it difficult to assess its potential use and value. • Limited Property Features Listed: The lack of detailed property features makes it challenging to compare this home to others in the market.

The Ugly

• Age of the Property (Built in 1974): The home's age suggests potential issues with outdated systems (electrical, plumbing, HVAC) and the need for significant renovations. Homes built before 1990 in Florida may have outdated building codes and materials. • Extreme Wind Risk (10/10): Despite the dome structure, the area has an extreme wind risk, which could lead to higher insurance premiums and potential damage during storms. • Severe Heat Risk (8/10): The high heat risk in Lake Placid can result in high cooling costs and potential health concerns during the summer months. Consider energy-efficient upgrades and proper insulation. • Lack of Detailed Information: The listing lacks crucial details, such as the number of bedrooms and bathrooms, system ages, and lot size. This makes it difficult to assess the property's true value and potential issues.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers Seeking a Unique, Potentially Hurricane-Resistant Home: The dome structure may appeal to those prioritizing storm safety, though an inspection is crucial. • Individuals Interested in Renovation Projects: This property offers a chance to customize and update a distinctive home. • Buyers Comfortable with Unconventional Design: The dome shape and layout will suit those who don't require a standard floor plan. • Buyers looking to purchase a home below the median home price: With a listing price of $150,000, this property offers affordability compared to other options in the area.

Not For

• Buyers Seeking a Traditional Home Layout: The dome structure may not suit those who prefer conventional room arrangements. • Individuals Requiring Move-In Ready Condition: This property likely needs updates and repairs, making it unsuitable for those seeking immediate occupancy. • Buyers Sensitive to High Heat Risk: Lake Placid has a severe heat risk (8/10), which might deter those uncomfortable with high temperatures. • Buyers with Limited Renovation Budgets: Given the home's age and unique design, potential renovations may be extensive and costly.
Demographics
Area Median Income

$46,525

Property History

Price History
Ownership Timeline
$0Cash Purchase
Feb 25, 2020
Patricia McfetridgePatricia Diane Mcfetridge, Patricia D Henson Revocable Living Trust
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Feb 18, 2020
Patricia Mcfetridge, Estate Of Jerry A McfetridgePatricia Mcfetridge
Intrafamily Transfer
Non-Arm's Length Transactions

Property Taxes

$913
2023 Tax Assessment
3.1%from previous year
Assessed Value$50,229
Tax Rate1.82%

Risk Assessment

Climate Risks

windSEVERE

Insurance: Required

heatSEVERE

7 extreme heat days per year

98th percentile: 108°F

fireMINIMAL

Insurance: Recommended

airMINIMAL

1 bad air quality days per year

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

Risk Analysis

• Extreme Wind Risk (10/10): Despite the dome's potential wind resistance, insurance costs could be higher than average. Verify coverage and premiums with multiple insurers. • High Heat Risk (8/10): Lake Placid experiences high temperatures, potentially increasing cooling costs. Consider energy-efficient upgrades. • Unknown Age and Condition of Systems: The listing lacks details on the age and condition of electrical, plumbing, and HVAC systems. A thorough inspection is essential. • Potential for High Renovation Costs: The unique dome structure may require specialized contractors and materials, increasing renovation expenses. Budget conservatively for potential repairs and updates. • Unclear Lot Size: While described as a "nice big lot," the exact size is not specified. Confirm the dimensions with property records to ensure it meets your needs.
Insurance
Annual Cost

$540

$45 per month

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Schools

Lake Placid Elementary School

Public•Grades PK-5
8/5
Primary
2.6 mi
Get more information on GreatSchools

Lake Placid High School

Public•Grades PK,9-12
4/5
Primary
2.6 mi
Get more information on GreatSchools

Lake Placid Middle School

Public•Grades 6-9
4/5
Middle
2.3 mi
Get more information on GreatSchools

Financials

Monthly Costs
Market Rent (0 bed)

$707

Get a detailed estimate on Zillow®
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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$150,000
Price/sqft
$149
Layout
0 bd•0 ba
Days on market
6 daysat time of analysis

Stats in the Area

Based on 3 comparable properties nearby

Average Price

$184,967

18.9%

Your price is 18.9% below average

Median Price

$214,900

30.2%

Based on 3 recent sales

Price per Sq.Ft

$243

38.7%

Your price is 38.7% below average $/sqft

Comparable Properties

11 Pinewood Court, Lake Placid, FL 33852
Price: $214,900
Sq.Ft: 1,191
Beds/Baths: 2/2
$/Sq.Ft:
$18021.1%
Sale Date: 11/23/2024
55 Chickasaw Street, Lake Placid, FL 33852
Price: $320,000
Sq.Ft: 1,044
Beds/Baths: 2/2
$/Sq.Ft:
$307105.8%
Sale Date: 9/20/2024
144 Cloverleaf Byp, Lake Placid, FL 33852
Price: $20,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 9/5/2024

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