10101 Co Rd 127

Glen St. Mary, FL 32040

$265,000C-

4 bd · 2.0 ba · 1,475 sqft · Built 2026 · Manufactured · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,629/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$442
• HOA: −$0
• Vac / Maint / Mgmt: −$552
• Net cashflow: $245/mo
• Annual: $2,945/yr
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• 1% rule: 0.99%
• Cash to close: $74,200

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $265k. Condition is rated good.
• At list price, monthly cash flow is $245 ($3k/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 $263k (0.8% below list).
• It's been on market 84 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Baker (town): math 53% / reading 49% proficiency, ranked #28 of 73 in FL (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Prek/Kindergarten Center (592 students, 58% FRL); Baker County Middle School (math 47% / reading 42%, grade D, #320 of 571 statewide, top 57%, 1,102 students, 52% FRL); Baker County Senior High School (math 41% / reading 48%, grade F, #237 of 667 statewide, top 36%, 1,425 students, 40% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 99 units permitted in Baker County in 2024 (0 in 5+ unit buildings).
• Baker County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.4% vs local median 3.5% in Glen St. Mary — 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

• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.