20940 SE 141st Ln

Umatilla, FL 32784

$17,000D

2 bd · 1.0 ba · 784 sqft · Built 1982 · Manufactured · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,232/mo
• Mortgage (P&I): −$89
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $842/mo
• Annual: $10,106/yr
• Cap rate: 65.74%
• Cash-on-cash: 212.31%
• DSCR: 10.45
• 1% rule: 7.25%
• Cash to close: $4,760

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $17k.
• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $17k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $118 of loan paydown is wiped out by about $510 of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#300 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment C-, 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.
• Market conditions: 223 active listings in the ZIP; 7,071 units permitted in Marion County in 2024 (534 in 5+ unit buildings).
• Marion County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 65.7% vs local median 2.9% in Umatilla — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.