3672 Northside Church Rd

Greenwood, FL 32443

$169,900D+

4 bd · 2.0 ba · 2,128 sqft · Built 2002 · Manufactured · Pending · 174 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,482/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$224
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $56/mo
• Annual: $675/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• 1% rule: 0.87%
• Cash to close: $47,572

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $170k.
• At list price, monthly cash flow is $56 ($675/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 $148k (12.7% below list).
• It's been on market 174 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (12.7% below list) — sets the bar for 1% rule.
• In year one you build about $161 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 66/100 on livability (#625 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, health & safety D.
• Jackson (rural): math 47% / reading 54% proficiency, ranked #39 of 73 in FL (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 33 active listings in the ZIP; 153 units permitted in Jackson County in 2024 (40 in 5+ unit buildings).
• Jackson County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 174 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.