6521 SE 55th St

Taylor Creek, FL 34974

$39,900B+

1 bd · 1.0 ba · 504 sqft · Built 1980 · Manufactured · Active · 256 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,086/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$471
• HOA: −$208
• Vac / Maint / Mgmt: −$228
• Net cashflow: $-30/mo
• Annual: $-357/yr
• Cap rate: 18.23%
• Cash-on-cash: 42.62%
• DSCR: 2.90
• 1% rule: 2.72%
• Cash to close: $11,172

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $40k.
• At list price, monthly cash flow is $-30 ($-357/yr) — negative.
• To cash-flow at today's rent, offer at most $35k (13.2% below list).
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 256 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (13.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#874 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Okeechobee (town): math 44% / reading 42% proficiency, ranked #58 of 73 in FL (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 402 active listings in the ZIP; 18 units permitted in Okeechobee County in 2024 (0 in 5+ unit buildings).
• Okeechobee County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $11k; list at $40k implies a 263% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.2% vs local median 4.1% in Taylor Creek — 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.

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?
• It's been on market 256 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.