16051 NE 71st St · Raleigh, FL 32696

$200,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 9 Days on market

Built 1985 2.35 ac lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +3.6/10.0
• 1% rule +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

COMPLETELY REMODELED!!! You must see this place to truly appreciate. 2 bed 2 bath on 2.3 beautiful acres. Large workshop. Mature trees and gorgeous azaleas. Property already mostly fenced, posts in place to complete fencing. Additional well, septic and electric service. .perfect for RV hookup. Agent can provide complete list of upgrades. This property is being sold CASH or CONVENTIONAL LOANS ONLY.

Key facts

• 2.35 acre lot
• 2 parking spots
• Built 1985

Property features AI

Finance

• Other: Homestead exemption applied
• Financial info: No lease restrictions
• HOA & community: No homeowners association

Exterior

• Parking: Has carport (2 spaces)
• Utilities: Well water; Septic tank; Electricity connected; Propane
• Home design: Manufactured double-wide home; Single story; Crawlspace foundation
• Construction: Vinyl siding; Metal roof
• Exterior features: Paved road access; 2.35 acres lot; Located in Wakonda Estates; Faces south

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Linoleum; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $80 ($961/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 $162k (19.2% below list).
• Recommended offer: $162k (19.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#793 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime D, health & safety D, amenities F.
• Levy (rural): 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; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Nature Coast Middle School (math 32% / reading 42%, grade F, #399 of 571 statewide, top 71%, 90 students, 82% FRL, charter) — zoned schools average 82% FRL vs 62% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 359 active listings in the ZIP; 199 units permitted in Levy County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Levy County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $85k; list at $200k implies a 135% 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; 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 $161,610 (19.2% 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. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.81% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 10.3

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-27,398
• Equity at exit: $29,821

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-17,655
• Equity at exit: $17,292

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 32696

• Home prices YoY: -6.2%
• Active inventory: 359
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,616 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$64 /mo · $774/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $80

Break-even live

Break-even rent $1,515

Max offer price $200,000

Occupancy floor 90%

Sensitivity live

Price	-10% $193	-5% $137	+0% $80	+5% $23	+10% $-33
Rent	-10% $-48	-5% $16	+0% $80	+5% $144	+10% $208
Rate	-1.0pp $181	-0.5pp $131	base $80	+0.5pp $28	+1.0pp $-24

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 8 events

1. 2026-06-22
   status $200,000 Pending 9 DOM
2. 2026-06-21
   days on market $200,000 Active 9 DOM
3. 2026-06-18
   days on market $200,000 Active 6 DOM
4. 2026-06-17
   days on market $200,000 Active 5 DOM
5. 2026-06-16
   days on market $200,000 Active 4 DOM
6. 2026-06-15
   days on market $200,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   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: $774 · $64/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$886/yr (+$74/mo · 114.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,393
• − Mortgage interest: −$11,203
• − Property taxes: −$774
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − Depreciation: −$5,818
• Taxable loss: −$2,505
• Est. tax savings @ 24.0%: +$601
• After-tax cash flow: $1,562/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: Levy
• NCES district ID: 1201140
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $35,254
• Composite: 36.42/100
• National rank: #4673
• State rank: #54 of 73 in FL

Livability — Raleigh

• Score: 61/100
• State rank: #793
• US rank: #18172

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,532

Population outlook (Levy County) Hauer SSP2

• Today (2025): 36,536 people
• By 2030: 34,498 · -5.6%
• By 2040: 30,294 · -17.1%
• By 2050: 26,368 · -27.8%
• By 2075: 19,003 · -48.0%
• By 2100: 13,169 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 13% Black 13% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 2%
• Common ancestry: Slovak 4% Iranian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 10% Chinese 1%

Political lean MEDSL · Levy

• 2024 margin: Solid R (+50.3) · D 24.6% · R 74.8%
• 2008→2024 swing: -23.3pp toward R · 2008: -26.9pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+45.6 2016: R+44.8 2012: R+32.2 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.99%
• Current HPI: 335.7751
• 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

+135.3% since first listed

5 events — show timeline

• 2026-06-12 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2026-06-12 Price Changed $200,000 Stellar MLS as Distributed by MLS Grid
• 2018-05-31 Sold (Public Records) $85,000 Public Records
• 2018-05-31 Sold (MLS) $85,000 Stellar MLS as Distributed by MLS Grid
• 2018-03-06 Listed $85,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $774 · +29.5% YoY. Source: county tax records.