3957 Highway 2 · Graceville, FL 32440

$89,000

2 bd · 2.0 ba · 1,340 sqft · SingleFamily public records · 93 Days on market

Built 1950 1.61 ac lot ↓ 15% since listing

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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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Alert! Don't miss this opportunity to own 1.61 acres with prime Highway 2 frontage in Graceville. This property offers excellent visibility and accessibility, making it ideal for investors, rental income, or future development potential. The property features a mobile home currently on site along with one pole barn and an additional small barn, providing great space for storage, equipment, or workshop use. With a generous lot size and unique layout, there's plenty of room to expand, improve, or reimagine the space to fit your vision. Whether you're looking for a fix-and-hold investment, rental property, or land with high-traffic exposure, this one checks the boxes. No HOA and plent

Key facts

• Highway 2 frontage
• Excellent visibility
• Mobile home

Tags

• 1.61 ACRES
• HIGHWAY 2 FRONTAGE
• EXCELLENT VISIBILITY
• MOBILE HOME
• POLE BARN
• SMALL BARN

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Electricity available
• Home design: Single-story mobile home
• Exterior features: Lot dimensions approximately 250 x 400 x 600; Lot size about 1.61 acres

Interior

• Bedrooms: Two bedrooms on the first level (approx. 10 x 10 and 10 x 12)
• Bathrooms: 2 full bathrooms
• Interior features: Total of 2 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#528 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Holmes (rural): math 44% / reading 45% proficiency, ranked #53 of 73 in FL (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 12 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Holmes County population projected at -17% 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 $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $1,791
• Equity at exit: $13,270

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $22,482
• Equity at exit: $7,695

Cash invested: $24,920 (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 32440

• Home prices YoY: -19.4%
• Active inventory: 62
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $254

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 72%

Sensitivity live

Price	-10% $316	-5% $285	+0% $254	+5% $224	+10% $193
Rent	-10% $167	-5% $211	+0% $254	+5% $298	+10% $341
Rate	-1.0pp $299	-0.5pp $277	base $254	+0.5pp $231	+1.0pp $208

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $89,000 Active 93 DOM
2. 2026-06-17
   days on market $89,000 Active 92 DOM
3. 2026-06-16
   days on market $89,000 Active 91 DOM
4. 2026-06-15
   days on market $89,000 Active 90 DOM
5. 2026-06-14
   days on market $89,000 Active 88 DOM
6. 2026-06-13
   days on market $89,000 Active 87 DOM
7. 2026-06-10
   days on market $89,000 Active 85 DOM
8. 2026-06-09
   days on market $89,000 Active 84 DOM
9. 2026-06-08
   days on market $89,000 Active 83 DOM
10. 2026-06-07
    days on market $89,000 Active 82 DOM
11. 2026-06-05
    days on market $89,000 Active 79 DOM
12. 2026-06-02
    days on market $89,000 Active 77 DOM
13. 2026-06-01
    days on market $89,000 Active 76 DOM
14. 2026-05-31
    days on market $89,000 Active 75 DOM
15. 2026-05-30
    days on market $89,000 Active 74 DOM
16. 2026-05-06
    price $89,000
17. 2026-05-05
    price $95,000
18. 2026-04-17
    price $99,000
19. 2026-03-17
    listed $105,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,205
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,589
• Taxable income: $1,738
• Est. tax owed @ 24.0%: −$417
• After-tax cash flow: $2,634/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: Holmes
• NCES district ID: 1200900
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $35,365
• Composite: 36.83/100
• National rank: #4558
• State rank: #53 of 73 in FL

Livability — Graceville

• Score: 68/100
• State rank: #528
• US rank: #9865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,048

Population outlook (Holmes County) Hauer SSP2

• Today (2025): 17,963 people
• By 2030: 17,245 · -4.0%
• By 2040: 15,970 · -11.1%
• By 2050: 14,905 · -17.0%
• By 2075: 12,327 · -31.4%
• By 2100: 9,760 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 21% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Holmes

• 2024 margin: Solid R (+80.2) · D 9.7% · R 89.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -65.0pp · 2024: -80.2pp
• All cycles: 2024: R+80.2 2020: R+78.9 2016: R+77.9 2012: R+68.3 2008: R+65.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.19%
• Current HPI: 154.1728
• 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

-15.2% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $89,000 CPARMLS
• 2026-05-05 Price Changed $95,000 CPARMLS
• 2026-04-17 Price Changed $99,000 CPARMLS
• 2026-03-17 Listed $105,000 CPARMLS

Property tax history

+8.4%/yr

Latest (2025): $97 · -70.2% YoY. Source: county tax records.