2 Franklin Dr · Panacea, FL 32327

$209,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 15 Days on market

Built 2026 4,791 sqft lot

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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 +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +4.8/10.0
• 1% rule +3.6/10.0
• Rent growth +3.3/5.0
• Livability +3.0/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

Exquisite new construction! $5000 FROM BUILDER TO BUYER TO USE TOWARDS YOUR CLOSING COSTS, BUY DOWN POINTS OR FENCE! The popular "Avalon" 3/2 floor plan offers Pafford Construction's stunning signature trim package including exquisite coffered ceiling details. The kitchen comes equipped with stainless appliances, custom shaker cabinets and laminate countertops. This home also features beautiful back French doors, stylish black hardware through out, and much more. There is luxury vinyl plank floors in living areas and bedrooms & tile in utility & bathrooms. Great location close to coast, rivers, and downtown. See Virtual Tour! Photos and virtual tour are of a previously

Key facts

• Back french doors
• New construction
• Stainless appliances

Tags

• NEW CONSTRUCTION
• SIGNATURE TRIM PACKAGE
• STAINLESS APPLIANCES
• CUSTOM SHAKER CABINETS
• LAMINATE COUNTERTOPS
• BACK FRENCH DOORS

Property features AI

Finance

• Other: Home warranty included
• Financial info: For sale

Exterior

• Parking: Driveway
• Utilities: Septic tank
• Home design: Single-story; New construction
• Construction: Vinyl siding
• Exterior features: Covered porch

Interior

• Kitchen: Dishwasher; Icemaker; Microwave; Oven; Refrigerator
• Bedrooms: Bedroom 2 (13 x 13); Bedroom 3 (10 x 12)
• Flooring: Plank; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Electric cooling
• Interior features: Tray ceilings; Vaulted ceilings; Split bedroom layout
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $176 ($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 $180k (14.0% below list).
• Recommended offer: $180k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 1.0% in Panacea — 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 60/100 on livability (#799 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, schools F, amenities F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.2%/yr); 346 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 468 units permitted in Wakulla 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $210k implies a 854% 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; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,487 (14.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.18% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-22,555
• Equity at exit: $31,297

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-4,228
• Equity at exit: $18,148

Cash invested: $58,772 (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 32327

• Home prices YoY: -1.5%
• Rents YoY: 3.2%
• Active inventory: 346
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,805 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$61 /mo · $737/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $176

Break-even live

Break-even rent $1,582

Max offer price $209,900

Occupancy floor 85%

Sensitivity live

Price	-10% $295	-5% $236	+0% $176	+5% $117	+10% $57
Rent	-10% $34	-5% $105	+0% $176	+5% $248	+10% $319
Rate	-1.0pp $282	-0.5pp $230	base $176	+0.5pp $122	+1.0pp $67

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Lake Ellen Dr Crawfordville, FL	3.0	2.0	1325	$1,775	$1.34	14d	1	0.34mi

Listing history 11 events

1. 2026-06-18
   days on market $209,900 Active 15 DOM
2. 2026-06-17
   days on market $209,900 Active 14 DOM
3. 2026-06-16
   days on market $209,900 Active 13 DOM
4. 2026-06-15
   days on market $209,900 Active 12 DOM
5. 2026-06-14
   days on market $209,900 Active 10 DOM
6. 2026-06-10
   days on market $209,900 Active 7 DOM
7. 2026-06-09
   days on market $209,900 Active 6 DOM
8. 2026-06-08
   days on market $209,900 Active 5 DOM
9. 2026-06-07
   days on market $209,900 Active 4 DOM
10. 2026-06-05
    remarks 681-char remark
11. 2026-06-05
    listed $209,900 Active 1 DOM

ⓘ 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: $737 · $61/mo
• Projected year-2 tax: $1,742 · $145/mo
• Expected delta: +$1,006/yr (+$84/mo · 136.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,658
• − Mortgage interest: −$11,758
• − Property taxes: −$737
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,733
• − Management: −$1,733
• − Depreciation: −$6,106
• Taxable loss: −$1,457
• Est. tax savings @ 24.0%: +$350
• After-tax cash flow: $2,465/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: Wakulla
• NCES district ID: 1201950
• Math proficiency: 56% ▼ -7.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $53,740
• Composite: 48.12/100
• National rank: #2183
• State rank: #18 of 73 in FL

Livability — Panacea

• Score: 60/100
• State rank: #799
• US rank: #18502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wakulla County · 31,445 people
• Metro: Tallahassee, FL
• Population (ZIP): 31,445
• Household income: $84,138
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 360.0

Population outlook (Wakulla County) Hauer SSP2

• Today (2025): 32,809 people
• By 2030: 33,165 · +1.1%
• By 2040: 33,245 · +1.3%
• By 2050: 32,539 · -0.8%
• By 2075: 29,676 · -9.5%
• By 2100: 22,931 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 15% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Italian 5% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Wakulla

• 2024 margin: Solid R (+44.4) · D 27.4% · R 71.8%
• 2008→2024 swing: -19.5pp toward R · 2008: -24.8pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+40.9 2016: R+40.1 2012: R+28.1 2008: R+24.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.59%
• Current HPI: 302.1883
• Rent YoY: ▲ 3.18%
• Metro: Tallahassee, 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

+854.1% since first listed

2 events — show timeline

• 2026-06-03 Listed $209,900 CATRS
• 1997-02-01 Sold (Public Records) $22,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $737 · +12.5% YoY. Source: county tax records.