986 NE 386th Ave · Reddick, FL 32686

$149,000

3 bd · 2.0 ba · 792 sqft · Manufactured public records · 576 Days on market

Built 1980 3.00 ac lot ↓ 13% since listing

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Owner Financing with 50K down at 6% on a 10 year term, must provide proof of income. Come enjoy your new home with peace and quiet on this secluded 3 acre property located in old Town Fl. This home has been remodeled with new flooring walls and ceilings. It has upgraded counter tops and marble windowsills. There is a handicap access ramp that leads to the covered front porch. This 3 bedroom and 2 full bath home also has a water system, two storage buildings and a covered pavilion that is attached to a large well house for gatherings. There are numerous springs nearby and the Gulf of America is 25 minutes away in this haven for retirement. The Nature coast offers many opportunities for outdo

Key facts

• Covered front porch
• Storage buildings
• Handicap access ramp

Tags

• REMODELED WITH NEW FLOORING
• UPGRADED COUNTER TOPS
• HANDICAP ACCESS RAMP
• COVERED FRONT PORCH
• STORAGE BUILDINGS
• COVERED PAVILION

Property features AI

Finance

• Other: Pets allowed

Exterior

• Utilities: TV antenna
• Home design: Mobile home; Residential property; Located in the Greenview subdivision
• Construction: Metal roof
• Exterior features: Covered deck; Level lot

Interior

• Kitchen: Dishwasher
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Bay windows; Crawl space
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 1.8% in Reddick — 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 58/100 on livability (#845 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Dixie (rural): math 52% / reading 50% proficiency, ranked #36 of 73 in FL (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Old Town Elementary School (math 73% / reading 58%, grade B+, #500 of 2,144 statewide, top 24%, 456 students, 80% FRL); Ruth Rains Middle School (math 48% / reading 49%, grade C-, #274 of 571 statewide, top 50%, 431 students, 76% FRL); Dixie County High School (math 31% / reading 42%, grade F, #351 of 667 statewide, top 54%, 714 students, 70% FRL).
• Market conditions: 95 active listings in the ZIP; 49 units permitted in Dixie County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Dixie County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 576 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $23k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 576 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $44,352
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 NE 385th Ave	0.70mi	2/1.0 (-1)	798 (+1%)	8mo	$45,000	$56	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $17
• Equity at exit: $22,216

10-year hold

• IRR: 9.6%
• Equity multiple: 1.74×
• Total profit: $30,918
• Equity at exit: $12,883

Cash invested: $41,720 (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 32686

• Home prices YoY: -9.1%
• Active inventory: 95
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,582 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $381

Break-even live

Break-even rent $1,100

Max offer price $149,000

Occupancy floor 71%

Sensitivity live

Price	-10% $465	-5% $423	+0% $381	+5% $169	+10% $117
Rent	-10% $256	-5% $318	+0% $381	+5% $443	+10% $506
Rate	-1.0pp $456	-0.5pp $418	base $381	+0.5pp $342	+1.0pp $303

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $149,000 Active 576 DOM
2. 2026-06-21
   days on market $149,000 Active 575 DOM
3. 2026-06-18
   days on market $149,000 Active 573 DOM
4. 2026-06-17
   days on market $149,000 Active 572 DOM
5. 2026-06-16
   days on market $149,000 Active 571 DOM
6. 2026-06-15
   days on market $149,000 Active 570 DOM
7. 2026-06-13
   days on market $149,000 Active 568 DOM
8. 2026-06-12
   days on market $149,000 Active 567 DOM
9. 2026-06-09
   days on market $149,000 Active 564 DOM
10. 2026-06-08
    days on market $149,000 Active 563 DOM
11. 2026-06-07
    days on market $149,000 Active 562 DOM
12. 2026-06-07
    days on market $149,000 Active 561 DOM
13. 2026-06-04
    days on market $149,000 Active 558 DOM
14. 2026-06-02
    days on market $149,000 Active 557 DOM
15. 2026-06-01
    days on market $149,000 Active 556 DOM
16. 2026-05-31
    days on market $149,000 Active 555 DOM
17. 2026-05-31
    days on market $149,000 Active 554 DOM
18. 2026-04-28
    status Active
19. 2026-04-28
    price $149,000
20. 2026-04-06
    status Pending
21. 2025-10-30
    price $159,000
22. 2025-01-06
    price $169,000
23. 2024-10-31
    listed $172,000 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: $310 · $26/mo
• Projected year-2 tax: $1,237 · $103/mo
• Expected delta: +$927/yr (+$77/mo · 298.9%)

ⓘ 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 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,984
• − Mortgage interest: −$8,346
• − Property taxes: −$310
• − Insurance: −$745
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − Depreciation: −$4,335
• Taxable income: $2,211
• Est. tax owed @ 24.0%: −$531
• After-tax cash flow: $4,036/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: Dixie
• NCES district ID: 1200450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $34,799
• Composite: 42.18/100
• National rank: #3290
• State rank: #36 of 73 in FL

Livability — Reddick

• Score: 58/100
• State rank: #845
• US rank: #21164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,531

Population outlook (Dixie County) Hauer SSP2

• Today (2025): 15,122 people
• By 2030: 14,521 · -4.0%
• By 2040: 13,503 · -10.7%
• By 2050: 12,671 · -16.2%
• By 2075: 10,857 · -28.2%
• By 2100: 8,344 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 29% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Italian 2% Iranian 2% Slovak 1%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Dixie

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -25.4pp toward R · 2008: -45.0pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+66.0 2016: R+63.2 2012: R+46.9 2008: R+45.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.99%
• Current HPI: 269.4566
• Rent YoY: —
• Metro: —
• 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

-13.4% since first listed

6 events — show timeline

• 2026-04-28 Relisted — DGLMLS
• 2026-04-28 Price Changed $149,000 DGLMLS
• 2026-04-06 Pending — DGLMLS
• 2025-10-30 Price Changed $159,000 DGLMLS
• 2025-01-06 Price Changed $169,000 DGLMLS
• 2024-10-31 Listed $172,000 DGLMLS

Property tax history

+6.2%/yr

Latest (2025): $310 · +0.0% YoY. Source: county tax records.