5109 SW 10th St · Bell, FL 32619

$200,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 6 Days on market

Built 2005 3.28 ac lot

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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 +23.3/30.0
• Appreciation +10.0/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +4.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Under contract-accepting backup offers. MOTIVATED SELLER! Don't miss this opportunity to own a beautiful 3.28-acre property conveniently located between Trenton and Bell. If you've been looking for a place with room to spread out and enjoy the peace and quiet of North Florida, this property is a must-see. This well-maintained 3-bedroom, 2-bath home offers comfortable living with plenty of outdoor space to enjoy. One of the property's standout features is the 34' x 36' garage/workshop, complete with hookups for welding equipment, an RV, and an air compressor—perfect for hobbyists, small business owners, or anyone needing extra storage and workspace. The expansive acreage provides endle

Key facts

• 34 x 36 garage
• Private retreat
• Room for gardening

Tags

• 34 X 36 GARAGE
• HOOKUPS FOR WELDING EQUIPMENT
• ROOM FOR GARDENING
• PRIVATE RETREAT

Property features AI

Finance

• Other: Property is classified residential and zoned A-2; Other structures on property include barn(s) and shed(s); Farm features listed: chicken and other; barn equipment present; Property acreage: approximately 3.28 acres
• Financial info: No additional financial details provided
• HOA & community: No association

Exterior

• Parking: No parking information provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Broadband/high-speed internet available; Cable available; Electricity available; Phone service available
• Home design: Modular home (double wide); Single-story; Faces east; Entry level: One
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built as a double wide modular
• Exterior features: Covered patio; Patio; Private mailbox; Storage; Pasture; Wooded vegetation

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen and family room combined; Living room and dining room combined; No additional interior features listed
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry closet; Laundry inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/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 $199k (0.7% below list).
• Recommended offer: $199k (0.7% below list) — sets the bar for 1% rule.
• Cap rate 8.5% vs local median 4.8% in Bell — 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 62/100 on livability (#767 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, health & safety D, amenities F.
• Gilchrist (rural): math 66% / reading 61% proficiency, ranked #9 of 73 in FL (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bell Elementary School (math 71% / reading 60%, grade B+, #500 of 2,144 statewide, top 24%, 661 students, 58% FRL); Bell High School (math 57% / reading 60%, grade C, #116 of 667 statewide, top 18%, 627 students, 48% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 94 units permitted in Gilchrist County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Gilchrist County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; list at $200k implies a 151% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,694 (0.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 8.48%
• Cash-on-cash: 7.82%
• DSCR: 1.35
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 3.35×
• Total profit: $131,752
• Equity at exit: $179,822

10-year hold

• IRR: 25.9%
• Equity multiple: 7.60×
• Total profit: $369,464
• Equity at exit: $387,416

Cash invested: $56,000 (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 32619

• Home prices YoY: 2.5%
• Active inventory: 112
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,987 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $365

Break-even live

Break-even rent $1,525

Max offer price $200,000

Occupancy floor 77%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-09
   status $200,000 Pending 6 DOM
2. 2026-06-08
   days on market $200,000 Active 6 DOM
3. 2026-06-07
   days on market $200,000 Active 5 DOM
4. 2026-06-05
   days on market $200,000 Active 2 DOM
5. 2026-06-03
   remarks 693-char remark
6. 2026-06-03
   listed $200,000 Active 1 DOM

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$788/yr (+$66/mo · 90.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,843
• − Mortgage interest: −$11,203
• − Property taxes: −$872
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$5,818
• Taxable income: $1,135
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $4,106/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: Gilchrist
• NCES district ID: 1200630
• Math proficiency: 66% ▼ -4.00%
• Reading proficiency: 61% ▼ -5.00%
• Median HH income: $39,610
• Composite: 53.01/100
• National rank: #1522
• State rank: #9 of 73 in FL

Livability — Bell

• Score: 62/100
• State rank: #767
• US rank: #17229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,227
• Population (ZIP): 5,227

Population outlook (Gilchrist County) Hauer SSP2

• Today (2025): 17,730 people
• By 2030: 17,722 · +-0.0%
• By 2040: 17,393 · -1.9%
• By 2050: 16,597 · -6.4%
• By 2075: 14,300 · -19.3%
• By 2100: 11,498 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 9% Romanian 3% Scotch-Irish 2%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 2% Tagalog/Filipino 1%

Political lean MEDSL · Gilchrist

• 2024 margin: Solid R (+68.0) · D 15.6% · R 83.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -46.8pp · 2024: -68.0pp
• All cycles: 2024: R+68.0 2020: R+64.0 2016: R+62.8 2012: R+51.0 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.98%
• Current HPI: 404.4164
• 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

+2122.2% since first listed

8 events — show timeline

• 2026-06-02 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2017-06-05 Sold (Public Records) $79,700 Public Records
• 2008-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-06-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-04-17 Listed $141,000 Stellar MLS as Distributed by MLS Grid
• 2007-12-27 Listed $141,000 Stellar MLS as Distributed by MLS Grid
• 2006-02-14 Sold (Public Records) $134,700 Public Records
• 2002-04-08 Sold (Public Records) $9,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $872 · +2.2% YoY. Source: county tax records.