1809 E Holiday Dr

Lorida, FL 33857

$119,000C

2 bd · 2.0 ba · 1,134 sqft · Built 2003 · Manufactured · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,126/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $50/mo
• Annual: $594/yr
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• 1% rule: 0.95%
• Cash to close: $33,320

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $119k.
• At list price, monthly cash flow is $50 ($594/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 $113k (5.3% below list).
• It's been on market 17 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (5.3% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($823 loan paydown + $979 appreciation (0.8% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Highlands (other): math 45% / reading 43% proficiency, ranked #54 of 73 in FL (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 980 units permitted in Highlands County in 2024 (80 in 5+ unit buildings).
• Current owner paid $65k; list at $119k implies a 83% gain — meaningful room to come down on a strong offer.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.