205 Starlight Ave · Interlachen, FL 32140

$5,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 6 Days on market

Built 1997

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Zoned Agriculture! 3-bedroom 2 bath home on 1.11 acres surrounded by the Etoniah Creek State Forest which contains 8,902 acres of various natural communities. The only next-door neighbors are the variety of wildlife and serene atmosphere! Enjoy boating, fishing and tubing at the nearby 819-acre George's Lake!! This home has a metal roof and CH/A less than 2 years old. Fresh paint, flooring and lighting! Master bathroom has garden tub and shower! New stainless appliances are on their way! There is a deck and above ground pool for entertaining.

Key facts

• 2 garage spots
• Pool
• Listed 6 days

Property features AI

Exterior

• Parking: 2-car garage
• Home design: Manufactured home (residential)
• Exterior features: Lot zoned AG

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Above-ground pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $5k.

Deal economics

• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $5k).
• Cap rate 233.2% vs local median 5.1% in Interlachen — 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 67/100 on livability (#540 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Putnam (town): math 34% / reading 39% proficiency, ranked #66 of 73 in FL (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 111 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $206 of equity ($35 loan paydown + $171 appreciation (3.4% local appreciation)).
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

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 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?
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: 24.81% ✓
• Cap rate: 233.19%
• Cash-on-cash: 810.33%
• DSCR: 37.06
• GRM: 0.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 44.53×
• Total profit: $60,948
• Equity at exit: $2,370

10-year hold

• IRR: —
• Equity multiple: 95.62×
• Total profit: $132,470
• Equity at exit: $3,750

Cash invested: $1,400 (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 32140

• Home prices YoY: 1.6%
• Active inventory: 111
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $945

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 19%

Sensitivity live

Price	-10% $949	-5% $947	+0% $945	+5% $944	+10% $942
Rent	-10% $847	-5% $896	+0% $945	+5% $994	+10% $1,043
Rate	-1.0pp $948	-0.5pp $947	base $945	+0.5pp $944	+1.0pp $943

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-09
   days on market $5,000 Active 6 DOM
2. 2026-06-08
   days on market $5,000 Active 5 DOM
3. 2026-06-07
   days on market $5,000 Active 4 DOM
4. 2026-06-05
   remarks 288-char remark
5. 2026-06-05
   listed $5,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥109°F today · 20 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: $14,885
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$145
• Taxable income: $11,978
• Est. tax owed @ 24.0%: −$2,875
• After-tax cash flow: $8,470/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: Putnam
• NCES district ID: 1201620
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $33,350
• Composite: 29.99/100
• National rank: #6361
• State rank: #66 of 73 in FL

Livability — Interlachen

• Score: 67/100
• State rank: #540
• US rank: #10162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,580
• Population (ZIP): 1,558

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 65,299 people
• By 2030: 61,255 · -6.2%
• By 2040: 52,930 · -18.9%
• By 2050: 45,051 · -31.0%
• By 2075: 28,720 · -56.0%
• By 2100: 15,852 · -75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Black 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -19.3pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+41.2 2016: R+36.6 2012: R+24.5 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.43%
• Current HPI: 214.5041
• 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

-90.9% since first listed

12 events — show timeline

• 2026-06-03 Listed $5,000 NFMLS
• 2023-08-07 Sold (Public Records) $144,900 Public Records
• 2023-08-04 Sold (MLS) $144,900 realMLS
• 2023-07-21 Pending — realMLS
• 2023-07-14 Contingent — realMLS
• 2023-07-12 Relisted — realMLS
• 2023-07-10 Contingent — realMLS
• 2023-07-05 Pending — realMLS
• 2023-06-30 Listed $144,900 realMLS
• 2020-10-06 Pending — realMLS
• 2020-10-06 Listing Removed — realMLS
• 2020-10-01 Listed $54,900 realMLS

Property tax history

+7.6%/yr

Latest (2025): $2,282 · +0.2% YoY. Source: county tax records.