598 San Mateo Road Rd · Palatka, FL 32187

$254,900

4 bd · 2.0 ba · 2,250 sqft · Manufactured · 164 Days on market

Built 2018 0.47 ac lot Est $245k · at est.

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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).

• Appreciation +9.6/10.0
• Cash flow +7.2/30.0
• ARV discount +5.7/15.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.3/10.0

Listing remarks MLS

This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

Key facts

• 0.47 acre lot
• Built 2018
• Listed 164 days

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Off-street parking with additional parking available
• Utilities: Septic tank; Electricity connected; Cable available
• Home design: Double wide manufactured home; One level; Home faces west; Used as single-family residential
• Construction: Vinyl siding; Shingle roof
• Exterior features: Rear porch; Back yard with chain link and wood fencing; Asphalt city street frontage

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Ice maker; Refrigerator; Electric water heater
• Bedrooms: 4 bedrooms (all on main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Breakfast bar; Breakfast nook; Ceiling fans; Kitchen island; Split bedroom layout; Walk-in closets; 9 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility sink

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $255k.

Deal economics

• At list price, monthly cash flow is $-354 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (27.3% below list).
• Recommended offer: $185k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.8% in Palatka — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: health & safety C-, crime D, amenities 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: Browning-Pearce Elementary School (math 40% / reading 39%, grade F, #1,513 of 2,144 statewide, top 73%, 660 students, 72% FRL); Palatka Jr - Sr High School (math 13% / reading 30%, grade F, #546 of 667 statewide, top 82%, 1,639 students, 64% FRL) — zoned schools at 68% FRL track the district average.
• 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 $25k of equity ($2k loan paydown + $23k 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.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $255k implies a 2117% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,372 (27.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.96%
• DSCR: 0.73
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $245,250
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Palmetto	0.14mi	4/2.0	2,275 (+1%)	13mo	$247,500	$109	81
312 Palmway Dr	0.28mi	3/2.0 (-1)	2,030 (-10%)	18mo	$160,000	$79	50

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: 18.2%
• Equity multiple: 2.43×
• Total profit: $102,030
• Equity at exit: $214,427

10-year hold

• IRR: 17.1%
• Equity multiple: 5.42×
• Total profit: $315,236
• Equity at exit: $447,140

Cash invested: $71,372 (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: 11.5×

Monthly cashflow live

• Estimated rent: $1,854 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$376 /mo · $4,509/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-354

Break-even live

Break-even rent $2,302

Max offer price $192,316

Occupancy floor —

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $254,900 Active 164 DOM
2. 2026-06-17
   days on market $254,900 Active 163 DOM
3. 2026-06-16
   days on market $254,900 Active 162 DOM
4. 2026-06-15
   days on market $254,900 Active 161 DOM
5. 2026-06-13
   pricedays on market $254,900 Active 159 DOM
6. 2026-06-10
   days on market $260,000 Active 155 DOM
7. 2026-06-08
   days on market $260,000 Active 154 DOM
8. 2026-06-07
   days on market $260,000 Active 153 DOM
9. 2026-06-05
   days on market $260,000 Active 150 DOM
10. 2026-06-03
    days on market $260,000 Active 149 DOM
11. 2026-06-02
    days on market $260,000 Active 148 DOM
12. 2026-06-01
    days on market $260,000 Active 147 DOM
13. 2026-05-31
    days on market $260,000 Active 146 DOM
14. 2026-05-14
    price $260,000
15. 2026-03-27
    price $270,000
16. 2026-01-05
    status Active
17. 2025-12-21
    historical
18. 2025-10-07
    listed $280,000 Active
19. 2025-05-02
    status Pending 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

20. 2025-04-16
    historical 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

21. 2025-04-14
    price $185,000 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

22. 2025-04-02
    price $195,000 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

23. 2025-03-23
    price $219,000 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

24. 2025-03-19
    price $229,500 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

25. 2025-03-10
    price $245,900 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

26. 2025-03-10
    listed $285,000 Active 718-char remark

    Show marketing remark (718 chars)

    This AS-IS 2018 double-wide mobile home offers spacious living with 4 bedrooms and 2 bathrooms. The kitchen is a standout feature, equipped with a large island that provides ample counter space and a central area for cooking and gathering. The master bedroom is generously sized, and the attached bathroom includes a walk-in shower, adding convenience and luxury to the space. The home also includes a laundry room located inside, making laundry chores more accessible. A deck on the backside of the house provides a great space for outdoor relaxation or entertaining, while the backyard is fenced in for privacy and security. Overall, this mobile home combines modern amenities with a comfortable, functional design.

27. 2021-07-05
    historical
28. 2021-07-05
    historical
29. 2021-07-05
    historical
30. 2021-06-25
    price $219,000
31. 2021-06-25
    price $219,000
32. 2021-06-25
    price $219,000
33. 2021-06-18
    listed $229,000 Active
34. 2021-06-18
    listed $229,000 Active
35. 2021-06-17
    listed $219,000
36. 2005-12-16
    soldstatus $11,500

ⓘ 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: $4,509 · $376/mo
• Projected year-2 tax: $4,509 · $376/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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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: $22,245
• − Mortgage interest: −$14,278
• − Property taxes: −$4,509
• − Insurance: −$1,274
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$7,415
• Taxable loss: −$8,792
• Est. tax savings @ 24.0%: +$2,110
• After-tax cash flow: $-2,141/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

+2160.9% since first listed

23 events — show timeline

• 2026-05-14 Price Changed $260,000 realMLS
• 2026-03-27 Price Changed $270,000 realMLS
• 2026-01-05 Relisted — realMLS
• 2025-12-21 Listing Removed — realMLS
• 2025-10-07 Listed $280,000 realMLS
• 2025-05-02 Pending — realMLS
• 2025-04-16 Listing Removed — realMLS
• 2025-04-14 Price Changed $185,000 realMLS
• 2025-04-02 Price Changed $195,000 realMLS
• 2025-03-23 Price Changed $219,000 realMLS
• 2025-03-19 Price Changed $229,500 realMLS
• 2025-03-10 Price Changed $245,900 realMLS
• 2025-03-10 Listed $285,000 realMLS
• 2021-07-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-07-05 Listing Removed — realMLS
• 2021-07-05 Listing Removed — Daytona MLS
• 2021-06-25 Price Changed $219,000 St. Augustine and St. Johns County Board of REALTORS®
• 2021-06-25 Price Changed $219,000 Daytona MLS
• 2021-06-25 Price Changed $219,000 realMLS
• 2021-06-18 Listed $229,000 realMLS
• 2021-06-18 Listed $229,000 Daytona MLS
• 2021-06-17 Listed $219,000 Stellar MLS as Distributed by MLS Grid
• 2005-12-16 Sold (Public Records) $11,500 Public Records

Property tax history

+27.7%/yr

Latest (2025): $4,509 · -6.4% YoY. Source: county tax records.