308 NW 7th St

Jasper, FL 32052

$124,999D

3 bd · 2.0 ba · 1,232 sqft · Built 2000 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,136/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $53/mo
• Annual: $642/yr
• Cap rate: 6.81%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• 1% rule: 0.91%
• Cash to close: $35,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $125k.
• At list price, monthly cash flow is $53 ($642/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (9.1% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $114k (9.1% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($864 loan paydown + $8k appreciation (6.7% local appreciation)).
• Location reads 63/100 on livability (#731 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety D, schools F, amenities F.
• Hamilton (rural): math 34% / reading 29% proficiency, ranked #68 of 73 in FL (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 85 active listings in the ZIP; 26 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).
• Hamilton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 8y 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.
• Current owner paid $97k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 3.4% in Jasper — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.