12402 4th St · Fountain, FL 32438

$120,000

2 bd · 2.0 ba · 1,974 sqft · Manufactured public records · 1 Days on market

Built 2001 0.32 ac lot

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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 +23.9/30.0
• DSCR +7.7/10.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Two bedroom two bathroom manufactured home needing some TLC on two lots offered as is. The home features two other rooms with the closest removed that could be converted back to bedroom. All sizes are approximate or taken from other sources please verify if important.

Key facts

• Spacious lot
• Quiet area
• 0.32 acre lot

Tags

• SPACIOUS LOT
• QUIET AREA

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Phone connected
• Home design: Double-wide manufactured home
• Construction: Sited on a 0.32-acre lot
• Exterior features: Lot dimensions approximately 100 x 135

Interior

• Bedrooms: Includes a primary bedroom
• Bathrooms: 2 full bathrooms
• Interior features: Main level primary suite

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Bay (suburban): math 51% / reading 51% proficiency, ranked #29 of 73 in FL (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 146 active listings in the ZIP; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($830 loan paydown + $7k appreciation (5.5% local appreciation)).
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $24k; list at $120k implies a 411% 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; major wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 2.37×
• Total profit: $45,885
• Equity at exit: $71,665

10-year hold

• IRR: 20.5%
• Equity multiple: 4.70×
• Total profit: $124,311
• Equity at exit: $126,825

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 32438

• Home prices YoY: 2.7%
• Active inventory: 146
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $233

Break-even live

Break-even rent $916

Max offer price $120,000

Occupancy floor 76%

Sensitivity live

Price	-10% $301	-5% $267	+0% $233	+5% $199	+10% $165
Rent	-10% $137	-5% $185	+0% $233	+5% $281	+10% $328
Rate	-1.0pp $293	-0.5pp $263	base $233	+0.5pp $202	+1.0pp $170

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: —

Listing history 2 events

1. 2026-06-18
   remarks 654-char remark
2. 2026-06-18
   listed $120,000 Active 1 DOM

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $996 · $83/mo
• Expected delta: +$465/yr (+$39/mo · 87.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,527
• − Mortgage interest: −$6,722
• − Property taxes: −$531
• − Insurance: −$600
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$3,491
• Taxable income: $859
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $2,588/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: Bay
• NCES district ID: 1200090
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $47,740
• Composite: 43.41/100
• National rank: #3014
• State rank: #29 of 73 in FL

Livability — Fountain

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,839

Population outlook (Bay County) Hauer SSP2

• Today (2025): 206,264 people
• By 2030: 217,740 · +5.6%
• By 2040: 238,738 · +15.7%
• By 2050: 255,545 · +23.9%
• By 2075: 288,295 · +39.8%
• By 2100: 288,638 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 14% Hispanic / Latino 10% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% Portuguese 1%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 90% English-only · Spanish 5% Arabic 3% Tagalog/Filipino 1%

Political lean MEDSL · Bay

• 2024 margin: Solid R (+47.4) · D 25.8% · R 73.1% · Other 1.1%
• 2008→2024 swing: -6.6pp toward R · 2008: -40.7pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.5 2016: R+46.3 2012: R+43.6 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.50%
• Current HPI: 209.7768
• 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

+390.8% since first listed

3 events — show timeline

• 2026-06-18 Listed $120,000 CPARMLS
• 2017-02-24 Sold (MLS) $23,500 CPARMLS
• 2016-12-30 Listed $24,450 CPARMLS

Property tax history

+6.1%/yr

Latest (2025): $531 · +12.2% YoY. Source: county tax records.