7883 Paula St

Sneads, FL 32460

$199,900F

3 bd · 2.0 ba · 1,792 sqft · Built 2006 · Manufactured · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,036/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $-354/mo
• Annual: $-4,251/yr
• Cap rate: 4.17%
• Cash-on-cash: -7.59%
• DSCR: 0.66
• 1% rule: 0.52%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $200k.
• At list price, monthly cash flow is $-354 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (31.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (48.2% below list).
• It's been on market 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (48.2% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $399 appreciation (0.2% local appreciation)).
• Location reads 64/100 on livability (#682 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Jackson (rural): math 47% / reading 54% proficiency, ranked #39 of 73 in FL (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grand Ridge School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 326 students, 50% FRL).
• Market conditions: 38 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 153 units permitted in Jackson County in 2024 (40 in 5+ unit buildings).
• Jackson County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $139k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.2% vs local median 5.3% in Sneads — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.