3140 NE 162nd Pl · Reddick, FL 32113

$124,900

2 bd · 1.0 ba · 1,460 sqft · Manufactured public records · 4 Days on market

Built 1981 0.87 ac lot

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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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer-Upper on Nearly an Acre. Utilities in Place! This 3 bedroom, 2 bathroom single wide mobile home sits on a spacious 0.87-acre lot and is ready for the right buyer to bring it back to life. The home needs significant TLC, but much of the groundwork has already been done. Impact fees are already paid, and the property is equipped with a septic system, private well, and underground electricity - huge value for future improvements or new construction. Perfect opportunity for a renovation or to replace the home and start fresh. Cash only sale, as property will not qualify for financing. No HOA and plenty of room to make it your own. Schedule a showing today!

Key facts

• 0.87 acre lot
• Built 1981
• Listed 4 days

Property features AI

Finance

• Other: Property type: Residential (Manufactured Home); Lot size: 0.87 acre (approx. 50 x 90); Living area: 1,460 sq ft (owner provided); Unfurnished; Zoning: R4
• Financial info: No financial income/expense details provided
• HOA & community: No HOA/association

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Well water; Septic tank; Other utilities
• Home design: Manufactured single-wide home; One story; Northeast facing
• Construction: Shingle roof; Other construction materials; Other foundation details; Built on one level
• Exterior features: Dirt road access

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Other (unspecified); Cooling: Other (unspecified)
• Interior features: No notable interior features listed
• Laundry & utility: Laundry: Other (unspecified)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.9% vs local median 2.2% in Reddick — 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 (#845 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Marion (rural): math 42% / reading 43% proficiency, ranked #61 of 73 in FL (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sparr Elementary School (math 42% / reading 42%, grade F, #1,403 of 2,144 statewide, top 67%, 425 students, 67% FRL); North Marion Middle School (math 35% / reading 34%, grade F, #421 of 571 statewide, top 74%, 803 students, 72% FRL); North Marion High School (math 20% / reading 32%, grade F, #494 of 667 statewide, top 75%, 1,303 students, 66% FRL).
• Market conditions: 144 active listings in the ZIP; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $125k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.28%
• DSCR: 1.41
• GRM: 7.3

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-10,882
• Equity at exit: $18,623

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $2,845
• Equity at exit: $10,799

Cash invested: $34,972 (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 32113

• Home prices YoY: -5.5%
• Active inventory: 144
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,434 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$155 /mo · $1,860/yr
• Insurance: −$52
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $145

Break-even live

Break-even rent $1,250

Max offer price $124,900

Occupancy floor 85%

Sensitivity live

Price	-10% $216	-5% $181	+0% $145	+5% $110	+10% $75
Rent	-10% $32	-5% $89	+0% $145	+5% $202	+10% $259
Rate	-1.0pp $208	-0.5pp $177	base $145	+0.5pp $113	+1.0pp $80

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $124,900 Active 4 DOM
2. 2026-06-17
   pricestatusdays on marketlisting id $124,900 Active 1 DOM
3. 2026-05-09
   status Pending
4. 2026-03-23
   price $124,890
5. 2026-03-12
   price $124,899
6. 2026-01-25
   price $124,900
7. 2025-12-08
   listed $149,900 Active
8. 2025-09-29
   soldstatus $54,000 Closed 667-char remark

   Show marketing remark (667 chars)

   Fixer-Upper on Nearly an Acre. Utilities in Place! This 3 bedroom, 2 bathroom single wide mobile home sits on a spacious 0.87-acre lot and is ready for the right buyer to bring it back to life. The home needs significant TLC, but much of the groundwork has already been done. Impact fees are already paid, and the property is equipped with a septic system, private well, and underground electricity - huge value for future improvements or new construction. Perfect opportunity for a renovation or to replace the home and start fresh. Cash only sale, as property will not qualify for financing. No HOA and plenty of room to make it your own. Schedule a showing today!

9. 2025-09-29
   soldstatus $54,000

   Show marketing remark (667 chars)

   Fixer-Upper on Nearly an Acre. Utilities in Place! This 3 bedroom, 2 bathroom single wide mobile home sits on a spacious 0.87-acre lot and is ready for the right buyer to bring it back to life. The home needs significant TLC, but much of the groundwork has already been done. Impact fees are already paid, and the property is equipped with a septic system, private well, and underground electricity - huge value for future improvements or new construction. Perfect opportunity for a renovation or to replace the home and start fresh. Cash only sale, as property will not qualify for financing. No HOA and plenty of room to make it your own. Schedule a showing today!

10. 2025-07-30
    status Pending 667-char remark

    Show marketing remark (667 chars)

    Fixer-Upper on Nearly an Acre. Utilities in Place! This 3 bedroom, 2 bathroom single wide mobile home sits on a spacious 0.87-acre lot and is ready for the right buyer to bring it back to life. The home needs significant TLC, but much of the groundwork has already been done. Impact fees are already paid, and the property is equipped with a septic system, private well, and underground electricity - huge value for future improvements or new construction. Perfect opportunity for a renovation or to replace the home and start fresh. Cash only sale, as property will not qualify for financing. No HOA and plenty of room to make it your own. Schedule a showing today!

11. 2025-06-12
    price $65,000 667-char remark

    Show marketing remark (667 chars)

    Fixer-Upper on Nearly an Acre. Utilities in Place! This 3 bedroom, 2 bathroom single wide mobile home sits on a spacious 0.87-acre lot and is ready for the right buyer to bring it back to life. The home needs significant TLC, but much of the groundwork has already been done. Impact fees are already paid, and the property is equipped with a septic system, private well, and underground electricity - huge value for future improvements or new construction. Perfect opportunity for a renovation or to replace the home and start fresh. Cash only sale, as property will not qualify for financing. No HOA and plenty of room to make it your own. Schedule a showing today!

12. 2025-06-05
    listed $75,000 Active 667-char remark

    Show marketing remark (667 chars)

    Fixer-Upper on Nearly an Acre. Utilities in Place! This 3 bedroom, 2 bathroom single wide mobile home sits on a spacious 0.87-acre lot and is ready for the right buyer to bring it back to life. The home needs significant TLC, but much of the groundwork has already been done. Impact fees are already paid, and the property is equipped with a septic system, private well, and underground electricity - huge value for future improvements or new construction. Perfect opportunity for a renovation or to replace the home and start fresh. Cash only sale, as property will not qualify for financing. No HOA and plenty of room to make it your own. Schedule a showing today!

13. 1998-03-06
    soldstatus $31,000
14. 1984-10-01
    soldstatus $8,800

ⓘ 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: $1,860 · $155/mo
• Projected year-2 tax: $1,860 · $155/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,205
• − Mortgage interest: −$6,996
• − Property taxes: −$1,860
• − Insurance: −$2,127
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$3,633
• Taxable loss: −$165
• Est. tax savings @ 24.0%: +$40
• After-tax cash flow: $1,784/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: Marion
• NCES district ID: 1201260
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $40,015
• Composite: 35.61/100
• National rank: #4890
• State rank: #61 of 73 in FL

Livability — Reddick

• Score: 58/100
• State rank: #845
• US rank: #21164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,382

Population outlook (Marion County) Hauer SSP2

• Today (2025): 365,905 people
• By 2030: 376,768 · +3.0%
• By 2040: 396,555 · +8.4%
• By 2050: 412,723 · +12.8%
• By 2075: 446,090 · +21.9%
• By 2100: 436,193 · +19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 12% Two or more races 11% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Cuban 1%
• Common ancestry: Iranian 3% Serbian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+31.6) · D 33.8% · R 65.5%
• 2008→2024 swing: -20.0pp toward R · 2008: -11.6pp · 2024: -31.6pp
• All cycles: 2024: R+31.6 2020: R+25.9 2016: R+26.2 2012: R+16.2 2008: R+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.68%
• Current HPI: 284.1669
• 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

+1319.2% since first listed

12 events — show timeline

• 2026-05-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $124,890 Stellar MLS as Distributed by MLS Grid
• 2026-03-12 Price Changed $124,899 Stellar MLS as Distributed by MLS Grid
• 2026-01-25 Price Changed $124,900 Stellar MLS as Distributed by MLS Grid
• 2025-12-08 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2025-09-29 Sold (Public Records) $54,000 Public Records
• 2025-09-29 Sold (MLS) $54,000 Stellar MLS as Distributed by MLS Grid
• 2025-07-30 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-06-12 Price Changed $65,000 Stellar MLS as Distributed by MLS Grid
• 2025-06-05 Listed $75,000 Stellar MLS as Distributed by MLS Grid
• 1998-03-06 Sold (Public Records) $31,000 Public Records
• 1984-10-01 Sold (Public Records) $8,800 Public Records

Property tax history

+11.0%/yr

Latest (2025): $1,860 · +58.2% YoY. Source: county tax records.