132 Palmetto Point Ln · Palatka, FL 32187

$183,995

3 bd · 2.0 ba · 1,320 sqft · Manufactured public records · 5 Days on market

Built 1985 2.55 ac lot Est $186k · at est.

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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 +19.2/30.0
• Appreciation +9.6/10.0
• ARV discount +8.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Do not miss your opportunity to own this 3bd/2ba modular home with a bonus room located on 2.38 Acres in San Mateo! NO HOA!!! Roof is only 6 years old, and AC and water heater is from 2021. New Paint, flooring, bathrooms, and kitchen counter top just installed. The home also features a full length enclosed screened back porch and two sheds! 1.5 acres of the property are still wooded. Dunns Creek is right across the street and St. Johns River is just 5 minutes away. Very Quiet and peaceful. Zoned Agricultural!! Low tax and perfect for a small farm. Small pond on the property. Perfect for investors. You could always set up a lot for an R. V. or any other toys!! Call now to schedule a private showing!

Key facts

• 2.55 acre lot
• 2 parking spots
• Built 1985

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Attached carport (2 spaces); Additional off-street parking; RV access/parking
• Security: Smoke detectors
• Utilities: Septic tank; Electricity connected; Water connected; Sewer connected
• Home design: Double wide manufactured home; One story; Entry on level 1; West-facing
• Construction: Wood siding; Metal roof
• Exterior features: Rear screened porch; Shed(s); Fenced backyard with chain link and other fencing; Lot is agricultural, cleared, and wooded; Dirt road access

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Jack and Jill bathroom; Open floorplan; Primary bathroom has shower (no tub); Split bedroom layout; Vaulted ceilings; Walk-in closet(s); Wood-burning fireplace
• Laundry & utility: In-unit washer and dryer; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $184k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $184k).
• Cap rate 7.6% vs local median 3.8% in Palatka — 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 58/100 on livability (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, health & safety C-, crime D.
• 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: 28 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 $18k of equity ($1k loan paydown + $17k appreciation (9.2% 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 (9.2% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,995

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. 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?
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: 1.01% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $186,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 Domingo Rd	0.37mi	3/2.0	1,352 (+2%)	2mo	$210,000	$155	77
123 Domingo Rd	0.40mi	3/2.0	1,352 (+2%)	5mo	$191,000	$141	73
114 Palmetto Rd	0.45mi	3/2.0	1,216 (-8%)	4mo	$60,000	$49	63
533 Jack Ln	0.45mi	3/2.0	1,296 (-2%)	17mo	$280,000	$216	62
714 San Mateo Rd	0.73mi	3/2.0	1,296 (-2%)	6mo	$132,000	$102	57
131 Clearwater Rd	0.51mi	3/2.0	1,200 (-9%)	5mo	$68,000	$57	57
220 Horse Landing Rd	0.63mi	3/2.0	1,404 (+6%)	9mo	$100,000	$71	53
546 Jack Ln	0.48mi	3/2.0	1,512 (+14%)	2mo	$345,000	$228	51
209 Breezeway Ave	0.73mi	2/2.0 (-1)	1,320 (0%)	16mo	$190,000	$144	47
304 Palmway Dr	0.58mi	3/2.0	1,400 (+6%)	23mo	$124,900	$89	44
211 Horse Landing Rd	0.72mi	3/2.0	1,440 (+9%)	17mo	$159,900	$111	37
147 Walt Ln	0.67mi	2/2.0 (-1)	1,128 (-14%)	16mo	$162,000	$144	26

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

Projected returns pro-forma

9.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.99×
• Total profit: $102,542
• Equity at exit: $154,780

10-year hold

• IRR: 23.0%
• Equity multiple: 6.63×
• Total profit: $289,860
• Equity at exit: $322,760

Cash invested: $51,519 (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 32187

• Home prices YoY: 4.4%
• Active inventory: 28
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,857 medium
• Mortgage (P&I): −$965
• Tax from tax record: −$227 /mo · $2,728/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $198

Break-even live

Break-even rent $1,606

Max offer price $183,995

Occupancy floor 84%

Sensitivity live

Price	-10% $302	-5% $250	+0% $198	+5% $146	+10% $94
Rent	-10% $52	-5% $125	+0% $198	+5% $272	+10% $345
Rate	-1.0pp $291	-0.5pp $245	base $198	+0.5pp $151	+1.0pp $102

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: $45,999
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $183,995 Active 5 DOM
2. 2026-06-17
   days on market $183,995 Active 4 DOM
3. 2026-06-16
   days on market $183,995 Active 3 DOM
4. 2026-06-15
   days on market $183,995 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $183,995 Active 1 DOM

ⓘ 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: $2,728 · $227/mo
• Projected year-2 tax: $2,728 · $227/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $22,286
• − Mortgage interest: −$10,307
• − Property taxes: −$2,728
• − Insurance: −$920
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$5,353
• Taxable loss: −$587
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $2,520/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 — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 25,645
• Population (ZIP): 1,117

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Russian 4% Scottish 3% Lithuanian 3%

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: ▲ 9.17%
• Current HPI: 218.2988
• 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

+234.5% since first listed

14 events — show timeline

• 2026-06-13 Listed $183,995 realMLS
• 2023-09-16 Sold (MLS) $170,000 Daytona MLS
• 2023-09-15 Sold (Public Records) $170,000 Public Records
• 2023-09-14 Sold (MLS) $170,000 realMLS
• 2023-09-01 Price Changed $199,999 realMLS
• 2023-08-30 Price Changed $199,999 Daytona MLS
• 2023-08-28 Price Changed $224,000 realMLS
• 2023-08-28 Price Changed $224,000 Daytona MLS
• 2023-08-12 Price Changed $228,000 Daytona MLS
• 2023-07-25 Price Changed $234,000 Daytona MLS
• 2023-07-21 Listed $235,000 realMLS
• 2023-07-13 Price Changed $235,000 Daytona MLS
• 2023-06-26 Listed $245,000 Daytona MLS
• 2023-05-30 Sold (Public Records) $55,000 Public Records

Property tax history

+15.6%/yr

Latest (2025): $2,728 · -3.7% YoY. Source: county tax records.