208 Tarpon Blvd · Palatka, FL 32177

$135,900

3 bd · 2.0 ba · 938 sqft · Manufactured public records · 284 Days on market

Built 1981 0.26 ac 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Waterfront Home. This 3/2 home is located on a canal that leads to the St Johns River. Great lot that is high and dry. Home is in need of TLC but has potential. New plywood flooring throughout the mobile home. Selling ''as-is''. Seller is motivated. Any reasonable offer will be seriously considered.

Key facts

• Mature crepe myrtles
• Canal front
• Attached carport

Tags

• CANAL FRONT
• DIRECT ST JOHNS RIVER ACCESS
• SCREENED PORCH
• ATTACHED CARPORT
• MATURE CREPE MYRTLES
• SMALL TOWN LIVING

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Attached covered carport (1 space)
• Utilities: Electricity connected; Water connected; Private sewer via septic tank; Sewer connected
• Home design: Single wide mobile home; One story
• Construction: Metal roof
• Exterior features: Covered screened porch; Shed(s) and other outbuildings; Canal front with river access; County road frontage; Paved road

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall/window unit(s) for cooling
• Interior features: Eat-in kitchen
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $136k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $120k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.8% in Palatka — 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 (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, health & safety C-, crime D.
• Putnam (town): math 34% / reading 39% proficiency, ranked #66 of 73 in FL (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $136k implies a 580% 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; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 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. 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?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $84,420
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
232 Tarpon Blvd	0.15mi	2/2.0 (-1)	940 (+0%)	11mo	$85,000	$90	78
210 Tarpon Blvd	0.01mi	2/1.0 (-1)	920 (-2%)	14mo	$69,000	$75	75
119 MacKerel Ave	0.34mi	2/2.0 (-1)	896 (-4%)	15mo	$130,000	$145	59

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 · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-4,008
• Equity at exit: $20,263

10-year hold

• IRR: 6.0%
• Equity multiple: 1.43×
• Total profit: $16,495
• Equity at exit: $11,750

Cash invested: $38,052 (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 32177

• Home prices YoY: -28.1%
• Rents YoY: 2.2%
• Active inventory: 319
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,505 medium
• Mortgage (P&I): −$713
• Tax from tax record: −$119 /mo · $1,422/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $301

Break-even live

Break-even rent $1,124

Max offer price $135,900

Occupancy floor 75%

Sensitivity live

Price	-10% $378	-5% $340	+0% $301	+5% $263	+10% $224
Rent	-10% $182	-5% $242	+0% $301	+5% $361	+10% $420
Rate	-1.0pp $370	-0.5pp $336	base $301	+0.5pp $266	+1.0pp $230

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: $33,975
• Closing costs: $4,077
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $135,900 Active 284 DOM
2. 2026-06-17
   days on market $135,900 Active 283 DOM
3. 2026-06-16
   days on market $135,900 Active 282 DOM
4. 2026-06-15
   days on market $135,900 Active 281 DOM
5. 2026-06-13
   days on market $135,900 Active 279 DOM
6. 2026-06-10
   days on market $135,900 Active 275 DOM
7. 2026-06-08
   days on market $135,900 Active 274 DOM
8. 2026-06-07
   days on market $135,900 Active 273 DOM
9. 2026-06-05
   days on market $135,900 Active 270 DOM
10. 2026-06-03
    days on market $135,900 Active 269 DOM
11. 2026-06-02
    days on market $135,900 Active 268 DOM
12. 2026-06-01
    days on market $135,900 Active 267 DOM
13. 2026-05-31
    days on market $135,900 Active 266 DOM
14. 2026-04-30
    status Active
15. 2026-04-02
    historical Active Under Contract
16. 2026-04-02
    status Pending
17. 2025-12-11
    status Active
18. 2025-09-21
    status Pending
19. 2025-08-04
    price $135,900
20. 2025-06-18
    listed $149,900 Active
21. 2016-02-26
    soldstatus $20,000 Sold 307-char remark

    Show marketing remark (307 chars)

    Waterfront Home. This 3/2 home is located on a canal that leads to the St Johns River. Great lot that is high and dry. Home is in need of TLC but has potential. New plywood flooring throughout the mobile home. Selling ''as-is''. Seller is motivated. Any reasonable offer will be seriously considered.

22. 2016-02-11
    status Pending 307-char remark

    Show marketing remark (307 chars)

    Waterfront Home. This 3/2 home is located on a canal that leads to the St Johns River. Great lot that is high and dry. Home is in need of TLC but has potential. New plywood flooring throughout the mobile home. Selling ''as-is''. Seller is motivated. Any reasonable offer will be seriously considered.

23. 2015-11-05
    listed $24,500 Active 307-char remark

    Show marketing remark (307 chars)

    Waterfront Home. This 3/2 home is located on a canal that leads to the St Johns River. Great lot that is high and dry. Home is in need of TLC but has potential. New plywood flooring throughout the mobile home. Selling ''as-is''. Seller is motivated. Any reasonable offer will be seriously considered.

24. 2007-01-17
    soldstatus $85,000
25. 2005-04-13
    soldstatus $36,500

ⓘ 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: $1,422 · $119/mo
• Projected year-2 tax: $1,422 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,060
• − Mortgage interest: −$7,613
• − Property taxes: −$1,422
• − Insurance: −$680
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$3,953
• Taxable income: $1,503
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $3,253/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: Putnam
• NCES district ID: 1201620
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $33,350
• Composite: 29.99/100
• National rank: #6361
• State rank: #66 of 73 in FL

Livability — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 25,645 people
• City population: 25,645
• Metro: Palatka, FL
• Population (ZIP): 25,645
• Household income: $47,796
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 806.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 65,299 people
• By 2030: 61,255 · -6.2%
• By 2040: 52,930 · -18.9%
• By 2050: 45,051 · -31.0%
• By 2075: 28,720 · -56.0%
• By 2100: 15,852 · -75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 2% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -19.3pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+41.2 2016: R+36.6 2012: R+24.5 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.10%
• Current HPI: 223.1966
• Rent YoY: ▲ 2.23%
• Metro: Palatka, 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

+272.3% since first listed

12 events — show timeline

• 2026-04-30 Relisted — realMLS
• 2026-04-02 Contingent — realMLS
• 2026-04-02 Pending — realMLS
• 2025-12-11 Relisted — realMLS
• 2025-09-21 Pending — realMLS
• 2025-08-04 Price Changed $135,900 realMLS
• 2025-06-18 Listed $149,900 realMLS
• 2016-02-26 Sold (MLS) $20,000 realMLS
• 2016-02-11 Pending — realMLS
• 2015-11-05 Listed $24,500 realMLS
• 2007-01-17 Sold (Public Records) $85,000 Public Records
• 2005-04-13 Sold (Public Records) $36,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,422 · +9.8% YoY. Source: county tax records.