1196 Sopchoppy Hwy

Sopchoppy, FL 32358

$69,900B+

3 bd · 2.0 ba · 1,296 sqft · Built 1999 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,197/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $495/mo
• Annual: $5,941/yr
• Cap rate: 14.79%
• Cash-on-cash: 30.36%
• DSCR: 2.35
• 1% rule: 1.71%
• Cash to close: $19,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($483 loan paydown + $3k appreciation (3.8% local appreciation)).
• Location reads 65/100 on livability (#647 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D-, amenities F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 73 active listings in the ZIP; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.8% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 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?
• 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.