174 Buchanan Cir · Palatka, FL 32189

$120,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 114 Days on market

Built 1987 10,018 sqft lot Est $186k · 36% under

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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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.6/10.0
• Schools +3.0/10.0
• 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

Very clean, well maintained 3 bedroom/2 bath SWMH. Family room added in 1991 adds a spacious feel to this split bedroom home. Central kitchen, walk-in pantry, inside utility room, single car carport fits two tandem vehicles; all appliances stay. New CH&A in 2006. Outside shed and nicely landscaped yard complete the package.

Key facts

• Backyard fenced
• Room addition
• 0.23 acre lot

Tags

• ROOM ADDITION
• BACKYARD FENCED
• SHORT DRIVE TO BEACHES

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Attached carport; 2 carport spaces
• Utilities: Electricity connected; Water connected
• Home design: Mobile home; Used for residential purposes
• Exterior features: Back yard fencing; Wire fencing; Wood fencing

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Electric cooling
• Interior features: Split bedroom layout
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $115k (4.2% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.8% in Palatka — 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 (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, health & safety C-, crime D.
• 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.
• Market conditions: 185 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $120k implies a 233% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.96% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $186,200
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Camellia Dr	0.32mi	2/2.0 (-1)	1,002 (-6%)	1mo	$152,000	$152	69
134 Magnolia St	0.23mi	2/2.0 (-1)	1,144 (+8%)	4mo	$239,000	$209	69
110 Shady Ln	0.35mi	2/1.0 (-1)	1,032 (-3%)	4mo	$80,000	$78	66
110 Pine Lake Dr	0.53mi	2/2.0 (-1)	1,080 (+2%)	4mo	$189,000	$175	65
218 Monroe Ave	0.07mi	2/2.0 (-1)	924 (-13%)	11mo	$120,000	$130	61
112 Camellia Dr	0.44mi	3/2.0	1,056 (-1%)	24mo	$246,500	$233	58
269 Hermits Dr	0.39mi	2/2.0 (-1)	1,012 (-5%)	13mo	$335,000	$331	58
468 Cove Dr	0.10mi	2/2.0 (-1)	960 (-10%)	20mo	$205,000	$214	57
209 Hermits Dr	0.42mi	2/2.0 (-1)	1,040 (-2%)	21mo	$225,000	$216	54
402 Cove Dr	0.34mi	3/1.0	960 (-10%)	22mo	$162,000	$169	46
241 Hermit Dr	0.45mi	2/2.0 (-1)	960 (-10%)	18mo	$162,000	$169	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-12,626
• Equity at exit: $17,892

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,213
• Equity at exit: $10,375

Cash invested: $33,600 (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 32189

• Home prices YoY: -5.4%
• Active inventory: 185
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$122 /mo · $1,466/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $107

Break-even live

Break-even rent $1,014

Max offer price $120,000

Occupancy floor 86%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Sherri Lee Ter Satsuma, FL	3.0	2.0	1040	$1,150	$1.11	3d	1	0.18mi

Listing history 28 events

1. 2026-06-18
   days on market $120,000 Active 114 DOM
2. 2026-06-17
   days on market $120,000 Active 113 DOM
3. 2026-06-16
   days on market $120,000 Active 112 DOM
4. 2026-06-15
   days on market $120,000 Active 111 DOM
5. 2026-06-13
   days on market $120,000 Active 109 DOM
6. 2026-06-10
   days on market $120,000 Active 105 DOM
7. 2026-06-08
   days on market $120,000 Active 104 DOM
8. 2026-06-07
   days on market $120,000 Active 103 DOM
9. 2026-06-05
   days on market $120,000 Active 100 DOM
10. 2026-06-03
    days on market $120,000 Active 99 DOM
11. 2026-06-02
    days on market $120,000 Active 98 DOM
12. 2026-06-01
    days on market $120,000 Active 97 DOM
13. 2026-05-31
    days on market $120,000 Active 96 DOM
14. 2026-05-07
    price $120,000
15. 2026-03-29
    price $125,000
16. 2026-02-24
    listed $135,000 Active
17. 2015-04-15
    soldstatus $36,000 Sold 332-char remark

    Show marketing remark (332 chars)

    Very clean, well maintained 3 bedroom/2 bath SWMH. Family room added in 1991 adds a spacious feel to this split bedroom home. Central kitchen, walk-in pantry, inside utility room, single car carport fits two tandem vehicles; all appliances stay. New CH&A in 2006. Outside shed and nicely landscaped yard complete the package.

18. 2015-03-19
    status Pending 332-char remark

    Show marketing remark (332 chars)

    Very clean, well maintained 3 bedroom/2 bath SWMH. Family room added in 1991 adds a spacious feel to this split bedroom home. Central kitchen, walk-in pantry, inside utility room, single car carport fits two tandem vehicles; all appliances stay. New CH&A in 2006. Outside shed and nicely landscaped yard complete the package.

19. 2014-05-15
    listed $39,900 Active 332-char remark

    Show marketing remark (332 chars)

    Very clean, well maintained 3 bedroom/2 bath SWMH. Family room added in 1991 adds a spacious feel to this split bedroom home. Central kitchen, walk-in pantry, inside utility room, single car carport fits two tandem vehicles; all appliances stay. New CH&A in 2006. Outside shed and nicely landscaped yard complete the package.

20. 2014-04-30
    historical 245-char remark

    Show marketing remark (245 chars)

    Warm and Welcoming! This 3BR 2BA is perfect for your winter retreat or full time home. Simply relaxing inside and EZ to care for on the outside. Delightful front porch, covered parking, additional storage and citrus trees. All nicely maintained!

21. 2013-10-31
    listed $49,900 245-char remark

    Show marketing remark (245 chars)

    Warm and Welcoming! This 3BR 2BA is perfect for your winter retreat or full time home. Simply relaxing inside and EZ to care for on the outside. Delightful front porch, covered parking, additional storage and citrus trees. All nicely maintained!

22. 2012-04-09
    soldstatus $55,000
23. 2012-04-06
    soldstatus $55,000
24. 2011-01-24
    listed $67,900
25. 2011-01-01
    historical
26. 2010-06-07
    listed $69,900
27. 2006-10-17
    historical
28. 2006-04-20
    listed $89,900

ⓘ 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: $1,466 · $122/mo
• Projected year-2 tax: $1,466 · $122/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,800
• − Mortgage interest: −$6,722
• − Property taxes: −$1,466
• − Insurance: −$600
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$3,491
• Taxable loss: −$687
• Est. tax savings @ 24.0%: +$165
• After-tax cash flow: $1,450/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): 5,527

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Cuban 4%
• Common ancestry: Slovak 5% Iranian 2% European 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 8%

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: ▼ -14.80%
• Current HPI: 257.2822
• 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

+33.5% since first listed

15 events — show timeline

• 2026-05-07 Price Changed $120,000 realMLS
• 2026-03-29 Price Changed $125,000 realMLS
• 2026-02-24 Listed $135,000 realMLS
• 2015-04-15 Sold (MLS) $36,000 realMLS
• 2015-03-19 Pending — realMLS
• 2014-05-15 Listed $39,900 realMLS
• 2014-04-30 Listing Removed — realMLS
• 2013-10-31 Listed $49,900 realMLS
• 2012-04-09 Sold (Public Records) $55,000 Public Records
• 2012-04-06 Sold (MLS) $55,000 realMLS
• 2011-01-24 Listed $67,900 realMLS
• 2011-01-01 Listing Removed — realMLS
• 2010-06-07 Listed $69,900 realMLS
• 2006-10-17 Listing Removed — realMLS
• 2006-04-20 Listed $89,900 realMLS

Property tax history

+11.6%/yr

Latest (2025): $1,466 · +8.7% YoY. Source: county tax records.