6731 CR 614

Bushnell, FL 33513

$275,000F

3 bd · 2.0 ba · 1,144 sqft · Built 2024 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,414/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$458
• HOA: −$0
• Vac / Maint / Mgmt: −$297
• Net cashflow: $-783/mo
• Annual: $-9,400/yr
• Cap rate: 2.87%
• Cash-on-cash: -12.21%
• DSCR: 0.46
• 1% rule: 0.51%
• Cash to close: $77,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $275k.
• At list price, monthly cash flow is $-783 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (41.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (48.6% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $141k (48.6% below list) — sets the bar for 1% rule.
• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#835 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bushnell Elementary School (math 65% / reading 63%, grade B, #552 of 2,144 statewide, top 26%, 760 students, 61% FRL); South Sumter Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 897 students, 61% FRL).
• Market conditions: 99 active listings in the ZIP; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.9% vs local median 4.1% in Bushnell — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.