60 Plankton Ave

Middleburg, FL 32068

$239,000D-

3 bd · 2.0 ba · 1,620 sqft · Built 1997 · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,553/mo
• Mortgage (P&I): −$1,253
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $-384/mo
• Annual: $-4,611/yr
• Cap rate: 4.36%
• Cash-on-cash: -6.89%
• DSCR: 0.69
• 1% rule: 0.65%
• Cash to close: $66,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $239k.
• At list price, monthly cash flow is $-384 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (35.0% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $155k (35.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#657 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Clay (suburban): math 58% / reading 59% proficiency, ranked #14 of 73 in FL (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Middleburg Elementary School (math 65% / reading 61%, grade B, #582 of 2,144 statewide, top 28%, 559 students, 100% FRL); Wilkinson Junior High School (math 54% / reading 49%, grade C, #232 of 571 statewide, top 41%, 752 students, 100% FRL); Middleburg High School (math 41% / reading 52%, grade D-, #216 of 667 statewide, top 33%, 1,852 students, 47% FRL) — zoned schools average 82% FRL vs 35% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 609 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 in 5+ unit buildings).
• Clay County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $82k; list at $239k implies a 192% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.