237 680th St · Fanning Springs, FL 32680

$160,000

3 bd · 2.0 ba · 1,586 sqft · Manufactured · 1 Days on market

Built 1996 Fair condition 2.03 ac lot Est $209k · 24% under

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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 +17.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Nice D/W on 2 ac. Great solid shape. Secluded lot. Comes with many furnishings.

Key facts

• 2.03 acre lot
• Built 1996

Property features AI

Finance

• Other: Directions provided: Heading North on Hwy 349 from Old Town. Turn left onto Spillers Hwy. Turn right on NE 674th. Turn left onto NE 680th St. Home will be on the left in 1st curve.
• HOA & community: Homeowners association with annual fees

Exterior

• Parking: Concrete and gravel parking
• Home design: Residential mobile home; Located in the Rambling Woods subdivision
• Construction: Vinyl siding; Shingle roof; Crawl space foundation; Built on a 2.03-acre lot
• Exterior features: Covered patio/porch; Level, irregular lot

Interior

• Kitchen: Washer included
• Bedrooms: Total rooms: 5
• Flooring: Laminate; Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Interior features: Walk-in closets; Skylights; Furnished
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (2.4% below list).
• Recommended offer: $156k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.7% in Fanning Springs — 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 63/100 on livability (#739 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• Dixie (rural): math 52% / reading 50% proficiency, ranked #36 of 73 in FL (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 260 active listings in the ZIP; 49 units permitted in Dixie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Dixie County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,203 (2.4% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $209,352
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2064 NE 389th Ave	0.42mi	3/2.0	1,512 (-5%)	1mo	$200,000	$132	72
608 NE 386th Ave	0.66mi	3/2.0	1,426 (-10%)	22mo	$115,000	$81	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 3.13×
• Total profit: $95,334
• Equity at exit: $144,141

10-year hold

• IRR: 23.4%
• Equity multiple: 7.12×
• Total profit: $274,365
• Equity at exit: $310,845

Cash invested: $44,800 (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 32680

• Home prices YoY: 2.5%
• Active inventory: 260
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,562 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $128

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 87%

Sensitivity live

Price	-10% $239	-5% $184	+0% $128	+5% $73	+10% $18
Rent	-10% $5	-5% $67	+0% $128	+5% $190	+10% $252
Rate	-1.0pp $209	-0.5pp $169	base $128	+0.5pp $87	+1.0pp $45

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-14
   listed $160,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,744
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − Depreciation: −$4,655
• Taxable loss: −$1,072
• Est. tax savings @ 24.0%: +$257
• After-tax cash flow: $1,797/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

The home is a manufactured home with significant exterior and interior maintenance needs, including painting, landscaping, HVAC maintenance, and potential roof and siding replacement. These repairs and maintenance will significantly improve the home's appearance and value.

Repairs flagged

• Major siding — The siding is visibly weathered and in need of replacement.
• Major roof — The roof is not visible, but the home is a manufactured home, which often requires frequent roof maintenance or replacement.
• Major landscaping — The landscaping is overgrown and in need of trimming and maintenance to improve curb appeal.
• Major paint — The exterior appears to be in need of repainting to improve its appearance and protect the siding.
• Major HVAC/mechanicals — The home is a manufactured home, which often requires regular HVAC maintenance and potential replacement of mechanical components due to age and wear.

Value-add opportunities

• Both painting the exterior — Painting the exterior will improve the home's appearance and protect the siding.
• Both landscaping and trimming — A well-maintained landscape will improve the home's curb appeal and potentially increase its value.
• Both HVAC maintenance and potential replacement — Regular HVAC maintenance and potential replacement will improve the home's comfort and energy efficiency, which can increase its value.
• Both roof replacement — A new roof will protect the home from weather damage and improve its overall appearance, which can increase its value.
• Both siding replacement — Replacing the weathered siding will improve the home's appearance and protect the structure, which can increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · The siding is visibly weathered and in need of replacement.	Major	$15,000–50,000
roof · The roof is not visible, but the home is a manufactured home, which often requires frequent roof maintenance or replacement.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and in need of trimming and maintenance to improve curb appeal.	Major	$15,000–50,000
paint · The exterior appears to be in need of repainting to improve its appearance and protect the siding.	Major	$15,000–50,000
HVAC/mechanicals · The home is a manufactured home, which often requires regular HVAC maintenance and potential replacement of mechanical components due to age and wear.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both painting the exterior — Painting the exterior will improve the home's appearance and protect the siding. ↑
• Both landscaping and trimming — A well-maintained landscape will improve the home's curb appeal and potentially increase its value. ↑
• Both HVAC maintenance and potential replacement — Regular HVAC maintenance and potential replacement will improve the home's comfort and energy efficiency, which can increase its value. ↑
• Both roof replacement — A new roof will protect the home from weather damage and improve its overall appearance, which can increase its value. ↑
• Both siding replacement — Replacing the weathered siding will improve the home's appearance and protect the structure, which can increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dixie
• NCES district ID: 1200450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $34,799
• Composite: 42.18/100
• National rank: #3290
• State rank: #36 of 73 in FL

Livability — Fanning Springs

• Score: 63/100
• State rank: #739
• US rank: #15960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,445

Population outlook (Dixie County) Hauer SSP2

• Today (2025): 15,122 people
• By 2030: 14,521 · -4.0%
• By 2040: 13,503 · -10.7%
• By 2050: 12,671 · -16.2%
• By 2075: 10,857 · -28.2%
• By 2100: 8,344 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Dixie

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -25.4pp toward R · 2008: -45.0pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+66.0 2016: R+63.2 2012: R+46.9 2008: R+45.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.22%
• Current HPI: 424.0037
• 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

2 events — show timeline

• 2026-05-15 Pending — DGLMLS
• 2026-05-14 Listed $160,000 DGLMLS