11820 NW Highway 225 · Reddick, FL 32686

$175,000

3 bd · 2.0 ba · 1,548 sqft · Manufactured public records · 153 Days on market

Built 1989 1.00 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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.9/10.0
• Schools +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the heart of NW Marion County's Horse Country, this could be your sweet home in the country, a seasonal destination or rental, or as it is currently, a year round rental. The home was built in 1989 and completely remodeled in 2017. Roof, AC, upgraded well, kitchen, bathrooms and flooring throughout. Owner of adjacent property to the north, may consider selling or leasing part of their property additionally. To respect the tenants' privacy, please do not enter the property without an appointment with me. Thank you!

Key facts

• Completely remodeled
• Kitchen
• Flooring

Tags

• COMPLETELY REMODELED
• UPGRADED WELL
• KITCHEN
• BATHROOMS
• FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/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 $174k (0.7% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 1.9% in Reddick — 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 (#845 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fessenden Elementary School (math 37% / reading 37%, grade F, #1,609 of 2,144 statewide, top 77%, 417 students, 79% FRL); North Marion Middle School (math 35% / reading 34%, grade F, #421 of 571 statewide, top 74%, 803 students, 72% FRL); North Marion High School (math 20% / reading 32%, grade F, #494 of 667 statewide, top 75%, 1,303 students, 66% FRL).
• Market conditions: 94 active listings in the ZIP; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $23k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $175k implies a 678% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-14,232
• Equity at exit: $26,093

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $5,767
• Equity at exit: $15,131

Cash invested: $49,000 (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 32686

• Home prices YoY: -9.1%
• Active inventory: 94
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,737 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$160 /mo · $1,915/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $222

Break-even live

Break-even rent $1,456

Max offer price $175,000

Occupancy floor 82%

Sensitivity live

Price	-10% $321	-5% $271	+0% $222	+5% $172	+10% $123
Rent	-10% $85	-5% $153	+0% $222	+5% $291	+10% $359
Rate	-1.0pp $310	-0.5pp $266	base $222	+0.5pp $177	+1.0pp $130

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $175,000 Active 153 DOM
2. 2026-06-17
   days on market $175,000 Active 152 DOM
3. 2026-06-16
   days on market $175,000 Active 151 DOM
4. 2026-06-15
   days on market $175,000 Active 150 DOM
5. 2026-06-14
   days on market $175,000 Active 148 DOM
6. 2026-06-13
   days on market $175,000 Active 147 DOM
7. 2026-06-10
   days on market $175,000 Active 145 DOM
8. 2026-06-09
   days on market $175,000 Active 144 DOM
9. 2026-06-08
   days on market $175,000 Active 143 DOM
10. 2026-06-07
    days on market $175,000 Active 142 DOM
11. 2026-06-03
    days on market $175,000 Active 138 DOM
12. 2026-06-02
    days on market $175,000 Active 137 DOM
13. 2026-05-31
    days on market $175,000 Active 135 DOM
14. 2026-05-30
    days on market $175,000 Active 134 DOM
15. 2026-05-15
    status Active 531-char remark

    Show marketing remark (531 chars)

    Nestled in the heart of NW Marion County's Horse Country, this could be your sweet home in the country, a seasonal destination or rental, or as it is currently, a year round rental. The home was built in 1989 and completely remodeled in 2017. Roof, AC, upgraded well, kitchen, bathrooms and flooring throughout. Owner of adjacent property to the north, may consider selling or leasing part of their property additionally. To respect the tenants' privacy, please do not enter the property without an appointment with me. Thank you!

16. 2026-05-12
    status Pending 531-char remark

    Show marketing remark (531 chars)

    Nestled in the heart of NW Marion County's Horse Country, this could be your sweet home in the country, a seasonal destination or rental, or as it is currently, a year round rental. The home was built in 1989 and completely remodeled in 2017. Roof, AC, upgraded well, kitchen, bathrooms and flooring throughout. Owner of adjacent property to the north, may consider selling or leasing part of their property additionally. To respect the tenants' privacy, please do not enter the property without an appointment with me. Thank you!

17. 2026-02-09
    price $175,000 531-char remark

    Show marketing remark (531 chars)

    Nestled in the heart of NW Marion County's Horse Country, this could be your sweet home in the country, a seasonal destination or rental, or as it is currently, a year round rental. The home was built in 1989 and completely remodeled in 2017. Roof, AC, upgraded well, kitchen, bathrooms and flooring throughout. Owner of adjacent property to the north, may consider selling or leasing part of their property additionally. To respect the tenants' privacy, please do not enter the property without an appointment with me. Thank you!

18. 2026-01-13
    listed $198,000 Active 531-char remark

    Show marketing remark (531 chars)

    Nestled in the heart of NW Marion County's Horse Country, this could be your sweet home in the country, a seasonal destination or rental, or as it is currently, a year round rental. The home was built in 1989 and completely remodeled in 2017. Roof, AC, upgraded well, kitchen, bathrooms and flooring throughout. Owner of adjacent property to the north, may consider selling or leasing part of their property additionally. To respect the tenants' privacy, please do not enter the property without an appointment with me. Thank you!

19. 2016-12-16
    soldstatus $22,500 103-char remark

    Show marketing remark (103 chars)

    Excellent opportunity to enjoy serenity. Affordable 1 acre property with lots of potential. Short Sale.

20. 2016-07-15
    listed $22,500 103-char remark

    Show marketing remark (103 chars)

    Excellent opportunity to enjoy serenity. Affordable 1 acre property with lots of potential. Short Sale.

21. 1997-07-02
    soldstatus $49,000

ⓘ 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: $1,915 · $160/mo
• Projected year-2 tax: $1,915 · $160/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 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 · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,843
• − Mortgage interest: −$9,803
• − Property taxes: −$1,915
• − Insurance: −$875
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$5,091
• Taxable loss: −$176
• Est. tax savings @ 24.0%: +$42
• After-tax cash flow: $2,705/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: Marion
• NCES district ID: 1201260
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $40,015
• Composite: 35.61/100
• National rank: #4890
• State rank: #61 of 73 in FL

Livability — Reddick

• Score: 58/100
• State rank: #845
• US rank: #21164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,531

Population outlook (Marion County) Hauer SSP2

• Today (2025): 365,905 people
• By 2030: 376,768 · +3.0%
• By 2040: 396,555 · +8.4%
• By 2050: 412,723 · +12.8%
• By 2075: 446,090 · +21.9%
• By 2100: 436,193 · +19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 29% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Italian 2% Iranian 2% Slovak 1%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+31.6) · D 33.8% · R 65.5%
• 2008→2024 swing: -20.0pp toward R · 2008: -11.6pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+25.9 2016: R+26.2 2012: R+16.2 2008: R+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.99%
• Current HPI: 269.4566
• 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

+257.1% since first listed

7 events — show timeline

• 2026-05-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-02-09 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-13 Listed $198,000 Stellar MLS as Distributed by MLS Grid
• 2016-12-16 Sold (MLS) $22,500 Stellar MLS as Distributed by MLS Grid
• 2016-07-15 Listed $22,500 Stellar MLS as Distributed by MLS Grid
• 1997-07-02 Sold (Public Records) $49,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,915 · +14.7% YoY. Source: county tax records.