21835 NW Lake Mckenzie Blvd · Altha, FL 32421

$169,900

3 bd · 2.0 ba · 1,155 sqft · Manufactured public records · 109 Days on market

Built 2020 5.00 ac lot ↓ 13% since listing

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Why this score? — see what drove the D- 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 +8.8/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.4/10.0

Listing remarks MLS

!!Price Improvement!! Welcome to 21835 NW Lake McKenzie Blvd in Altha, Florida--a place where you can slow down, spread out, and enjoy country living while still being close to everything you need. Built in 2020, this 3-bedroom, 2-bath home offers 1,155 sq ft of comfortable living space designed for easy living. Step inside to an inviting open layout with a spacious kitchen, center island with seating, and a bright living area that makes it easy to gather with friends or relax after a long day. The layout flows naturally, giving you both comfort and function. Outside is where the property truly shines. Situated on 5 acres, most of the land is already cleared with scattered trees, giving you room for a garden, workshop, animals, outdoor hobbies, or simply enjoying the open space and quiet surroundings. There is no flood zone, no HOA, and no deed restrictions, giving you the flexibility to use the land in ways that fit your lifestyle. You'll enjoy the peaceful setting while still being conveniently located--about 30 minutes to Marianna and roughly 1 hour to Panama City Beach or Dothan, Alabama for shopping, dining, and entertainment. If you've been looking for space, freedom, and a move-in ready home in North Florida, this property offers the opportunity to make it happen. Schedule your showing soon and come see how life on Lake McKenzie Blvd could fit your plans.

Key facts

• Spacious kitchen
• Open layout
• 5 acres

Tags

• OPEN LAYOUT
• SPACIOUS KITCHEN
• CENTER ISLAND
• 5 ACRES
• CLEARED LAND
• NO FLOOD ZONE

Property features AI

Finance

• Financial info: For sale

Exterior

• Parking: Driveway
• Utilities: Septic tank
• Home design: Single-story
• Exterior features: Property on a 5-acre lot; Lot dimensions approximately 667 x 335 x 667 x 335; Easement road frontage; Private maintained road

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (10x10); Bedroom 3 (8x12)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Living room; Family room; Dining room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (35.8% below list).
• Recommended offer: $109k (35.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#876 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D, amenities F, commute F.
• Calhoun (rural): math 52% / reading 55% proficiency, ranked #27 of 73 in FL (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carr Elementary & Middle School (math 52% / reading 57%, grade C, #892 of 2,144 statewide, top 44%, 228 students, 60% FRL); Blountstown High School (math 58% / reading 56%, grade C, #127 of 667 statewide, top 19%, 695 students, 55% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 59 active listings in the ZIP; 30 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.1% local appreciation)).
• Calhoun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $109,008 (35.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.64% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 13.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.65×
• Total profit: $31,094
• Equity at exit: $97,347

10-year hold

• IRR: 11.5%
• Equity multiple: 3.13×
• Total profit: $101,159
• Equity at exit: $168,896

Cash invested: $47,572 (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 32421

• Home prices YoY: 2.8%
• Active inventory: 59
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$40 /mo · $485/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $-141

Break-even live

Break-even rent $1,269

Max offer price $144,995

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-93	+0% $-141	+5% $-189	+10% $-237
Rent	-10% $-227	-5% $-184	+0% $-141	+5% $-98	+10% $-55
Rate	-1.0pp $-55	-0.5pp $-98	base $-141	+0.5pp $-185	+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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-22
   days on market $169,900 Active 109 DOM
2. 2026-06-19
   days on market $169,900 Active 107 DOM
3. 2026-06-18
   days on market $169,900 Active 106 DOM
4. 2026-06-17
   days on market $169,900 Active 105 DOM
5. 2026-06-16
   days on market $169,900 Active 104 DOM
6. 2026-06-15
   days on market $169,900 Active 103 DOM
7. 2026-06-14
   days on market $169,900 Active 101 DOM
8. 2026-06-13
   days on market $169,900 Active 100 DOM
9. 2026-06-10
   days on market $169,900 Active 98 DOM
10. 2026-06-09
    days on market $169,900 Active 97 DOM
11. 2026-06-08
    days on market $169,900 Active 96 DOM
12. 2026-06-07
    days on market $169,900 Active 95 DOM
13. 2026-06-03
    days on market $169,900 Active 91 DOM
14. 2026-06-02
    days on market $169,900 Active 90 DOM
15. 2026-06-01
    days on market $169,900 Active 89 DOM
16. 2026-05-31
    pricedays on market $169,900 Active 88 DOM
17. 2026-05-30
    days on market $174,900 Active 87 DOM
18. 2026-03-28
    price $174,900

    Show marketing remark (1387 chars)

    !!Price Improvement!! Welcome to 21835 NW Lake McKenzie Blvd in Altha, Florida--a place where you can slow down, spread out, and enjoy country living while still being close to everything you need. Built in 2020, this 3-bedroom, 2-bath home offers 1,155 sq ft of comfortable living space designed for easy living. Step inside to an inviting open layout with a spacious kitchen, center island with seating, and a bright living area that makes it easy to gather with friends or relax after a long day. The layout flows naturally, giving you both comfort and function. Outside is where the property truly shines. Situated on 5 acres, most of the land is already cleared with scattered trees, giving you room for a garden, workshop, animals, outdoor hobbies, or simply enjoying the open space and quiet surroundings. There is no flood zone, no HOA, and no deed restrictions, giving you the flexibility to use the land in ways that fit your lifestyle. You'll enjoy the peaceful setting while still being conveniently located--about 30 minutes to Marianna and roughly 1 hour to Panama City Beach or Dothan, Alabama for shopping, dining, and entertainment. If you've been looking for space, freedom, and a move-in ready home in North Florida, this property offers the opportunity to make it happen. Schedule your showing soon and come see how life on Lake McKenzie Blvd could fit your plans.

19. 2026-03-28
    price $174,900 1387-char remark

    Show marketing remark (1387 chars)

    !!Price Improvement!! Welcome to 21835 NW Lake McKenzie Blvd in Altha, Florida--a place where you can slow down, spread out, and enjoy country living while still being close to everything you need. Built in 2020, this 3-bedroom, 2-bath home offers 1,155 sq ft of comfortable living space designed for easy living. Step inside to an inviting open layout with a spacious kitchen, center island with seating, and a bright living area that makes it easy to gather with friends or relax after a long day. The layout flows naturally, giving you both comfort and function. Outside is where the property truly shines. Situated on 5 acres, most of the land is already cleared with scattered trees, giving you room for a garden, workshop, animals, outdoor hobbies, or simply enjoying the open space and quiet surroundings. There is no flood zone, no HOA, and no deed restrictions, giving you the flexibility to use the land in ways that fit your lifestyle. You'll enjoy the peaceful setting while still being conveniently located--about 30 minutes to Marianna and roughly 1 hour to Panama City Beach or Dothan, Alabama for shopping, dining, and entertainment. If you've been looking for space, freedom, and a move-in ready home in North Florida, this property offers the opportunity to make it happen. Schedule your showing soon and come see how life on Lake McKenzie Blvd could fit your plans.

20. 2026-02-21
    listed $189,000 Active

    Show marketing remark (1387 chars)

    !!Price Improvement!! Welcome to 21835 NW Lake McKenzie Blvd in Altha, Florida--a place where you can slow down, spread out, and enjoy country living while still being close to everything you need. Built in 2020, this 3-bedroom, 2-bath home offers 1,155 sq ft of comfortable living space designed for easy living. Step inside to an inviting open layout with a spacious kitchen, center island with seating, and a bright living area that makes it easy to gather with friends or relax after a long day. The layout flows naturally, giving you both comfort and function. Outside is where the property truly shines. Situated on 5 acres, most of the land is already cleared with scattered trees, giving you room for a garden, workshop, animals, outdoor hobbies, or simply enjoying the open space and quiet surroundings. There is no flood zone, no HOA, and no deed restrictions, giving you the flexibility to use the land in ways that fit your lifestyle. You'll enjoy the peaceful setting while still being conveniently located--about 30 minutes to Marianna and roughly 1 hour to Panama City Beach or Dothan, Alabama for shopping, dining, and entertainment. If you've been looking for space, freedom, and a move-in ready home in North Florida, this property offers the opportunity to make it happen. Schedule your showing soon and come see how life on Lake McKenzie Blvd could fit your plans.

21. 2026-02-21
    listed $189,000 Active 1387-char remark

    Show marketing remark (1387 chars)

    !!Price Improvement!! Welcome to 21835 NW Lake McKenzie Blvd in Altha, Florida--a place where you can slow down, spread out, and enjoy country living while still being close to everything you need. Built in 2020, this 3-bedroom, 2-bath home offers 1,155 sq ft of comfortable living space designed for easy living. Step inside to an inviting open layout with a spacious kitchen, center island with seating, and a bright living area that makes it easy to gather with friends or relax after a long day. The layout flows naturally, giving you both comfort and function. Outside is where the property truly shines. Situated on 5 acres, most of the land is already cleared with scattered trees, giving you room for a garden, workshop, animals, outdoor hobbies, or simply enjoying the open space and quiet surroundings. There is no flood zone, no HOA, and no deed restrictions, giving you the flexibility to use the land in ways that fit your lifestyle. You'll enjoy the peaceful setting while still being conveniently located--about 30 minutes to Marianna and roughly 1 hour to Panama City Beach or Dothan, Alabama for shopping, dining, and entertainment. If you've been looking for space, freedom, and a move-in ready home in North Florida, this property offers the opportunity to make it happen. Schedule your showing soon and come see how life on Lake McKenzie Blvd could fit your plans.

22. 2026-02-19
    historical
23. 2025-11-10
    status Active
24. 2025-10-26
    status Pending
25. 2025-09-24
    historical
26. 2025-09-23
    listed $174,900 Active
27. 2025-09-15
    price $180,000
28. 2025-07-04
    price $185,000
29. 2025-05-20
    listed $200,000 Active

ⓘ 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: $485 · $40/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$926/yr (+$77/mo · 191.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,081
• − Mortgage interest: −$9,517
• − Property taxes: −$485
• − Insurance: −$850
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$4,943
• Taxable loss: −$4,806
• Est. tax savings @ 24.0%: +$1,153
• After-tax cash flow: $-538/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: Calhoun
• NCES district ID: 1200210
• Math proficiency: 52% ▼ -12.00%
• Reading proficiency: 55% ▼ -7.00%
• Median HH income: $33,844
• Composite: 44.14/100
• National rank: #2863
• State rank: #27 of 73 in FL

Livability — Altha

• Score: 55/100
• State rank: #876
• US rank: #23167

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,277

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 13,969 people
• By 2030: 13,584 · -2.8%
• By 2040: 12,853 · -8.0%
• By 2050: 12,006 · -14.1%
• By 2075: 9,504 · -32.0%
• By 2100: 6,541 · -53.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Black 2%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+67.6) · D 15.9% · R 83.5%
• 2008→2024 swing: -27.2pp toward R · 2008: -40.4pp · 2024: -67.6pp
• All cycles: 2024: R+67.6 2020: R+62.3 2016: R+56.2 2012: R+43.9 2008: R+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.10%
• Current HPI: 190.1727
• 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

-12.6% since first listed

12 events — show timeline

• 2026-03-28 Price Changed $174,900 CATRS
• 2026-03-28 Price Changed $174,900 CPARMLS
• 2026-02-21 Listed $189,000 CPARMLS
• 2026-02-21 Listed $189,000 CATRS
• 2026-02-19 Listing Removed — CPARMLS
• 2025-11-10 Relisted — CPARMLS
• 2025-10-26 Pending — CPARMLS
• 2025-09-24 Listing Removed — CPARMLS
• 2025-09-23 Listed $174,900 CPARMLS
• 2025-09-15 Price Changed $180,000 CPARMLS
• 2025-07-04 Price Changed $185,000 CPARMLS
• 2025-05-20 Listed $200,000 CPARMLS

Property tax history

+43.6%/yr

Latest (2025): $485 · +2.3% YoY. Source: county tax records.