111 Lime Ave · Welaka, FL 32181

$60,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 3 Days on market

Built 1983 1.00 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +3.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits at 111 Lime Ave. This 2-bedroom, 1-bath 1983 Commodore mobile home offers 672 square feet of living space and sits on a full acre of improved land in Pomona Park. The property includes well and septic already in place and a covered front porch, providing a solid foundation for renovation, rental income, or future development. The home will require updates and repairs, making it an excellent opportunity for investors or buyers looking to add value. Plenty of space for expansion or additional improvements makes the possibilities here wide open.

Key facts

• Covered front porch
• Well and septic
• 1 acre lot

Tags

• FULL ACRE OF IMPROVED LAND
• COVERED FRONT PORCH
• WELL AND SEPTIC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

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 ($844 rent vs $60k).
• Cap rate 12.3% vs local median 1.7% in Welaka — 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 55/100 on livability (#878 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, amenities F, commute F.
• 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.
• Zoned schools: Middleton-Burney Elementary School (math 31% / reading 30%, grade F, #1,862 of 2,144 statewide, top 88%, 1,046 students, 70% FRL); Crescent City Jr-Sr High School (math 17% / reading 34%, grade F, #499 of 667 statewide, top 75%, 1,005 students, 72% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 72 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($415 loan paydown + $777 appreciation (1.3% local appreciation)).
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $60k implies a 100% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

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. 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.
4. 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.
5. 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: 1.41% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.52%
• DSCR: 1.96
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.26×
• Total profit: $21,167
• Equity at exit: $21,408

10-year hold

• IRR: 26.7%
• Equity multiple: 4.30×
• Total profit: $55,426
• Equity at exit: $29,179

Cash invested: $16,800 (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 32181

• Home prices YoY: 0.5%
• Active inventory: 72
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$26 /mo · $312/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $301

Break-even live

Break-even rent $463

Max offer price $60,000

Occupancy floor 59%

Sensitivity live

Price	-10% $335	-5% $318	+0% $301	+5% $284	+10% $267
Rent	-10% $235	-5% $268	+0% $301	+5% $335	+10% $368
Rate	-1.0pp $332	-0.5pp $317	base $301	+0.5pp $286	+1.0pp $270

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-22
   status Pending
2. 2026-03-11
   listed $60,000 Active
3. 2009-11-24
   soldstatus $30,000
4. 1996-04-10
   soldstatus $12,000
5. 1996-04-10
   soldstatus $12,000

ⓘ 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: $312 · $26/mo
• Projected year-2 tax: $498 · $42/mo
• Expected delta: +$186/yr (+$16/mo · 59.6%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 19 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: $10,131
• − Mortgage interest: −$3,361
• − Property taxes: −$312
• − Insurance: −$300
• − Repairs & maintenance: −$811
• − Management: −$811
• − Depreciation: −$1,745
• Taxable income: $2,792
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $2,946/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 — Welaka

• Score: 55/100
• State rank: #878
• US rank: #23339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,200
• Population (ZIP): 2,512

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: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 19% Hispanic / Latino 18% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Russian 1%
• Foreign-born: 3% · Canada
• Languages at home: 83% English-only · Spanish 17%

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: ▲ 1.29%
• Current HPI: 267.8886
• 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

+400.0% since first listed

5 events — show timeline

• 2026-04-22 Pending — realMLS
• 2026-03-11 Listed $60,000 realMLS
• 2009-11-24 Sold (Public Records) $30,000 Public Records
• 1996-04-10 Sold (Public Records) $12,000 Public Records
• 1996-04-10 Sold (Public Records) $12,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $312 · +19.1% YoY. Source: county tax records.