147 2nd Way · Interlachen, FL 32148

$53,000

3 bd · 3.0 ba · 1,248 sqft · Manufactured public records · 3 Days on market

Built 1966 9,583 sqft lot Est $85k · 38% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Public Remarks: Investment opportunity in Interlachen, FL. Property located at 147 2nd Way features a lot with an existing mobile home on site. The mobile home requires repairs and improvements. Property is being sold as-is. Owner financing available with $10,000 down payment and $800 montly. Additional terms to be negotiated with seller. This property offers potential for renovation, rental income, or future redevelopment. Buyers to verify all property details, zoning, and condition. IF MOBILE HOME IS REMOVED ZONING REQUIRES IT BE REPLACED WITH A HOUSE. Se habla espanol.

Key facts

• Future redevelopment
• Existing mobile home
• Rental income

Tags

• EXISTING MOBILE HOME
• REQUIRES REPAIRS
• POTENTIAL FOR RENOVATION
• RENTAL INCOME
• FUTURE REDEVELOPMENT

Property features AI

Finance

• Financial info: Annual taxes listed (not included per instructions)
• HOA & community: Not a senior community

Exterior

• Parking: Other parking
• Utilities: Electricity available
• Home design: Mobile home; Residential use
• Exterior features: Lot approximately 0.22 acres; No private pool

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall/window air conditioning units; No built-in heating
• Interior features: Double-sided fireplace; Refrigerator included; Has fireplace
• Laundry & utility: Unfurnished (no washer/dryer specified)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $53k.

Deal economics

• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Cap rate 21.1% vs local median 5.6% 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: amenities F, commute F, employment 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.
• Zoned schools: Interlachen Jr-Sr High School (math 16% / reading 32%, grade F, #529 of 667 statewide, top 80%, 1,097 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Zoned-school proficiency averages 24% at this address vs 36% district-wide (-12 pts) — the specific schools serving this property underperform the Putnam average; the district grade overstates school quality for this exact location.
• Market conditions: 759 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $12k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $53k implies a 112% 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; 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.

Recommended offer $53,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.45% ✓
• Cap rate: 21.14%
• Cash-on-cash: 53.03%
• DSCR: 3.36
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $84,864
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
322 6th Way	0.52mi	3/2.0	1,248 (0%)	6mo	$150,000	$120	66
244 3rd Way	0.31mi	3/1.0	1,248 (0%)	15mo	$76,000	$61	65
231 6th Way	0.32mi	3/2.0	1,216 (-3%)	16mo	$82,500	$68	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 51.1%
• Equity multiple: 3.24×
• Total profit: $33,201
• Equity at exit: $7,902

10-year hold

• IRR: 56.5%
• Equity multiple: 6.58×
• Total profit: $82,785
• Equity at exit: $4,582

Cash invested: $14,840 (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 32148

• Home prices YoY: -5.8%
• Active inventory: 759
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$278
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $656

Break-even live

Break-even rent $470

Max offer price $53,000

Occupancy floor 45%

Sensitivity live

Price	-10% $686	-5% $671	+0% $656	+5% $641	+10% $626
Rent	-10% $553	-5% $604	+0% $656	+5% $707	+10% $758
Rate	-1.0pp $682	-0.5pp $669	base $656	+0.5pp $642	+1.0pp $628

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Switzerland St Interlachen, FL	3.0	2.0	1152	$1,300	$1.13	3d	1	1.11mi

Listing history 25 events

1. 2026-06-18
   days on market $53,000 Active 3 DOM
2. 2026-06-17
   days on market $53,000 Active 2 DOM
3. 2026-06-15
   remarks 578-char remark
4. 2026-06-15
   days on marketlisting id $53,000 Active 1 DOM
5. 2026-05-31
   days on market $53,000 Active 100 DOM
6. 2026-05-15
   price $53,000
7. 2026-04-30
   price $57,000
8. 2026-04-23
   price $60,000
9. 2026-02-13
   listed $65,000 Active
10. 2026-01-15
    historical
11. 2025-12-03
    status Active
12. 2025-11-19
    historical Active Under Contract
13. 2025-09-24
    price $62,500
14. 2025-08-27
    price $67,000
15. 2025-08-20
    price $72,000
16. 2025-08-11
    price $77,000
17. 2025-07-13
    listed $83,500 Active
18. 2024-06-12
    historical
19. 2024-06-11
    price $69,999
20. 2024-06-10
    price $89,900
21. 2024-06-03
    listed $94,900 Active
22. 2007-04-18
    soldstatus $25,000
23. 2007-03-30
    soldstatus $17,000
24. 2006-09-29
    listed $29,900
25. 1996-02-01
    soldstatus $13,450

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $854 · $71/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$2,969
• − Property taxes: −$854
• − Insurance: −$265
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$1,542
• Taxable income: $7,474
• Est. tax owed @ 24.0%: −$1,794
• After-tax cash flow: $6,076/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

• Census place: Interlachen, FL
• City population: 11,580
• Population (ZIP): 11,580

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -16.98%
• Current HPI: 277.2763
• 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

+294.1% since first listed

20 events — show timeline

• 2026-05-15 Price Changed $53,000 realMLS
• 2026-04-30 Price Changed $57,000 realMLS
• 2026-04-23 Price Changed $60,000 realMLS
• 2026-02-13 Listed $65,000 realMLS
• 2026-01-15 Listing Removed — MARMLS
• 2025-12-03 Relisted — MARMLS
• 2025-11-19 Contingent — MARMLS
• 2025-09-24 Price Changed $62,500 MARMLS
• 2025-08-27 Price Changed $67,000 MARMLS
• 2025-08-20 Price Changed $72,000 MARMLS
• 2025-08-11 Price Changed $77,000 MARMLS
• 2025-07-13 Listed $83,500 MARMLS
• 2024-06-12 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-06-11 Price Changed $69,999 Stellar MLS as Distributed by MLS Grid
• 2024-06-10 Price Changed $89,900 Stellar MLS as Distributed by MLS Grid
• 2024-06-03 Listed $94,900 Stellar MLS as Distributed by MLS Grid
• 2007-04-18 Sold (Public Records) $25,000 Public Records
• 2007-03-30 Sold (MLS) $17,000 realMLS
• 2006-09-29 Listed $29,900 realMLS
• 1996-02-01 Sold (Public Records) $13,450 Public Records

Property tax history

+0.5%/yr

Latest (2025): $854 · +10.6% YoY. Source: county tax records.