2340 Washington Ave · Green Cove Springs, FL 32043

$197,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 23 Days on market

Manufactured home Built 1992 1.00 ac lot

---

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 +15.4/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Build a custom home!!!! Nice 1 Acre DEVELOPED land lot with 3 bedrooms 2 bathrooms mobile home in need of TLC. Enjoy your metal 3 bay garage/workshop on concrete slab with electricity. Septic tank replaced 2020 and drainfield less than 1 year old. Well pump and bladder 1 month old. Artesian Well. The acreage is fully fenced with opportunity to have a circular drive for two entrances. HVAC was new in 2020 but has never been used due to ductwork needing replacement. Window units used. Large porch with ramp. Mobile home is in need of remodeling. With TLC this could be a nice home on a beautiful piece of land.

Key facts

• 1 acre lot
• 3 garage spots
• Built 1992

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $197k.

Deal economics

• At list price, monthly cash flow is $75 ($905/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 $157k (20.3% below list).
• Recommended offer: $157k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.2% in Green Cove Springs — 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 75/100 on livability (#245 in FL, #3,868 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute 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: Charles E. Bennett Elementary School (math 41% / reading 39%, grade F, #1,491 of 2,144 statewide, top 70%, 624 students, 100% FRL); Green Cove Springs Junior High School (math 63% / reading 60%, grade B+, #124 of 571 statewide, top 22%, 799 students, 38% FRL); Clay High School (math 37% / reading 53%, grade D-, #228 of 667 statewide, top 35%, 1,666 students, 43% FRL) — zoned schools average 60% FRL vs 35% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 891 active listings in the ZIP; solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 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.
• Clay County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $13k; list at $197k implies a 1373% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,085 (20.3% 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. 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?
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: 0.80% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-31,133
• Equity at exit: $29,373

10-year hold

• IRR: -12.5%
• Equity multiple: 0.34×
• Total profit: $-36,590
• Equity at exit: $17,033

Cash invested: $55,160 (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 32043

• Home prices YoY: -26.3%
• Rents YoY: 0.5%
• Active inventory: 891
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,571 medium
• Mortgage (P&I): −$1,033
• Tax from tax record: −$50 /mo · $605/yr
• Insurance: −$82
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $75

Break-even live

Break-even rent $1,475

Max offer price $197,000

Occupancy floor 90%

Sensitivity live

Price	-10% $187	-5% $131	+0% $75	+5% $20	+10% $-36
Rent	-10% $-49	-5% $13	+0% $75	+5% $137	+10% $199
Rate	-1.0pp $175	-0.5pp $125	base $75	+0.5pp $24	+1.0pp $-28

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-18
   status Pending

   Show marketing remark (623 chars)

   Build a custom home!!!! Nice 1 Acre DEVELOPED land lot with 3 bedrooms 2 bathrooms mobile home in need of TLC. Enjoy your metal 3 bay garage/workshop on concrete slab with electricity. Septic tank replaced 2020 and drainfield less than 1 year old. Well pump and bladder 1 month old. Artesian Well. The acreage is fully fenced with opportunity to have a circular drive for two entrances. HVAC was new in 2020 but has never been used due to ductwork needing replacement. Window units used. Large porch with ramp. Mobile home is in need of remodeling. With TLC this could be a nice home on a beautiful piece of land.

2. 2026-05-18
   historical 623-char remark

   Show marketing remark (623 chars)

   Build a custom home!!!! Nice 1 Acre DEVELOPED land lot with 3 bedrooms 2 bathrooms mobile home in need of TLC. Enjoy your metal 3 bay garage/workshop on concrete slab with electricity. Septic tank replaced 2020 and drainfield less than 1 year old. Well pump and bladder 1 month old. Artesian Well. The acreage is fully fenced with opportunity to have a circular drive for two entrances. HVAC was new in 2020 but has never been used due to ductwork needing replacement. Window units used. Large porch with ramp. Mobile home is in need of remodeling. With TLC this could be a nice home on a beautiful piece of land.

3. 2026-04-25
   listed $197,000 Active

   Show marketing remark (623 chars)

   Build a custom home!!!! Nice 1 Acre DEVELOPED land lot with 3 bedrooms 2 bathrooms mobile home in need of TLC. Enjoy your metal 3 bay garage/workshop on concrete slab with electricity. Septic tank replaced 2020 and drainfield less than 1 year old. Well pump and bladder 1 month old. Artesian Well. The acreage is fully fenced with opportunity to have a circular drive for two entrances. HVAC was new in 2020 but has never been used due to ductwork needing replacement. Window units used. Large porch with ramp. Mobile home is in need of remodeling. With TLC this could be a nice home on a beautiful piece of land.

4. 2026-04-25
   listed $197,000 Active 623-char remark

   Show marketing remark (623 chars)

   Build a custom home!!!! Nice 1 Acre DEVELOPED land lot with 3 bedrooms 2 bathrooms mobile home in need of TLC. Enjoy your metal 3 bay garage/workshop on concrete slab with electricity. Septic tank replaced 2020 and drainfield less than 1 year old. Well pump and bladder 1 month old. Artesian Well. The acreage is fully fenced with opportunity to have a circular drive for two entrances. HVAC was new in 2020 but has never been used due to ductwork needing replacement. Window units used. Large porch with ramp. Mobile home is in need of remodeling. With TLC this could be a nice home on a beautiful piece of land.

5. 1979-01-01
   soldstatus $13,375

ⓘ 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: $605 · $50/mo
• Projected year-2 tax: $1,635 · $136/mo
• Expected delta: +$1,030/yr (+$86/mo · 170.3%)

ⓘ 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 ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,850
• − Mortgage interest: −$11,035
• − Property taxes: −$605
• − Insurance: −$985
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$5,731
• Taxable loss: −$2,522
• Est. tax savings @ 24.0%: +$605
• After-tax cash flow: $1,510/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: Clay
• NCES district ID: 1200300
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $59,379
• Composite: 50.73/100
• National rank: #1815
• State rank: #14 of 73 in FL

Livability — Green Cove Springs

• Score: 75/100
• State rank: #245
• US rank: #3868

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clay County · 208,450 people
• City population: 34,562
• Metro: Jacksonville, FL
• Population (ZIP): 34,562
• Household income: $84,145
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 449.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 230,495 people
• By 2030: 242,427 · +5.2%
• By 2040: 262,244 · +13.8%
• By 2050: 275,148 · +19.4%
• By 2075: 295,397 · +28.2%
• By 2100: 287,592 · +24.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: +3.6pp toward D · 2008: -42.8pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.1 2016: R+44.3 2012: R+45.8 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.34%
• Current HPI: 301.3212
• Rent YoY: ▲ 0.46%
• Metro: Jacksonville, FL
• 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

+1372.9% since first listed

5 events — show timeline

• 2026-05-18 Pending — realMLS
• 2026-05-18 Listing Removed — realMLS
• 2026-04-25 Listed $197,000 realMLS
• 2026-04-25 Listed $197,000 realMLS
• 1979-01-01 Sold (Public Records) $13,375 Public Records

Property tax history

+20.8%/yr

Latest (2025): $605 · +4.0% YoY. Source: county tax records.