301 SW Wheat Pl · Lake City, FL 32024

$165,000

4 bd · 2.0 ba · 1,320 sqft · SingleFamily · 34 Days on market

Built 1971 Poor condition 1.17 ac lot Est $198k · 17% under

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Why this score? — see what drove the B+ 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 +25.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

This charming mobile home offers a private retreat with a thoughtfully designed layout, featuring bedrooms located in all four corners for maximum privacy. Enjoy your morning coffee or unwind in the evening on the inviting front porch, where you can listen to the birds sing and savor a refreshing glass of iced tea. The expansive back yard provides ample space for children and pets to play freely, making it an ideal setting for family activities and outdoor enjoyment. This property is perfect for those seeking a peaceful environment while still being close to restaurants, shopping and historic down town Lake City.

Key facts

• Inviting front porch
• Expansive back yard
• Peaceful environment

Tags

• INVITING FRONT PORCH
• EXPANSIVE BACK YARD
• PEACEFUL ENVIRONMENT

Property features AI

Exterior

• Parking: 3-car garage
• Utilities: Private well water
• Home design: Manufactured home; Single-story
• Construction: Frame construction; Shingle roof
• Exterior features: Covered patio/porch; Deck; Chain link fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Electric cooktop; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Ceiling fans; Central air conditioning; Central electric heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.8% in Lake City — 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 73/100 on livability (#304 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Columbia (town): math 53% / reading 54% proficiency, ranked #25 of 73 in FL (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 206 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Columbia County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.46%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $198,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9127 SW Sr 47	0.57mi	3/1.0 (-1)	1,400 (+6%)	2mo	$210,000	$150	53

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 3.50×
• Total profit: $115,530
• Equity at exit: $148,645

10-year hold

• IRR: 27.6%
• Equity multiple: 7.93×
• Total profit: $320,114
• Equity at exit: $320,559

Cash invested: $46,200 (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 32024

• Home prices YoY: 7.6%
• Active inventory: 206
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $403

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 74%

Sensitivity live

Price	-10% $517	-5% $460	+0% $403	+5% $346	+10% $288
Rent	-10% $248	-5% $325	+0% $403	+5% $480	+10% $557
Rate	-1.0pp $486	-0.5pp $444	base $403	+0.5pp $360	+1.0pp $316

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $165,000 Active 34 DOM
2. 2026-06-19
   days on market $165,000 Active 32 DOM
3. 2026-06-18
   days on market $165,000 Active 31 DOM
4. 2026-06-17
   days on market $165,000 Active 30 DOM
5. 2026-06-16
   days on market $165,000 Active 29 DOM
6. 2026-06-15
   days on market $165,000 Active 28 DOM
7. 2026-06-14
   days on market $165,000 Active 26 DOM
8. 2026-06-12
   days on market $165,000 Active 25 DOM
9. 2026-06-09
   days on market $165,000 Active 22 DOM
10. 2026-06-08
    days on market $165,000 Active 21 DOM
11. 2026-06-07
    days on market $165,000 Active 20 DOM
12. 2026-06-05
    days on market $165,000 Active 17 DOM
13. 2026-06-03
    days on market $165,000 Active 16 DOM
14. 2026-06-02
    days on market $165,000 Active 15 DOM
15. 2026-06-01
    days on market $165,000 Active 14 DOM
16. 2026-05-31
    days on market $165,000 Active 13 DOM
17. 2026-05-30
    days on market $165,000 Active 12 DOM
18. 2026-05-18
    listed $165,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,435
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$4,800
• Taxable income: $2,343
• Est. tax owed @ 24.0%: −$562
• After-tax cash flow: $4,268/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including a new roof, exterior painting, HVAC system upgrade, and landscaping. Significant improvements are needed to increase its resale and rental value.

Repairs flagged

• Major roof — Signs of potential leaks and old age.
• Major exterior siding — Peeling paint and siding indicate significant damage.
• Major HVAC/mechanicals — No visible signs of recent maintenance or updates.
• Major landscaping — Overgrown vegetation and poor curb appeal suggest neglect and require significant work to improve the property's appearance.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the property's appearance and increase its market value.
• Resale exterior painting — Fresh paint will enhance the curb appeal and make the property more attractive to potential buyers.
• Both HVAC system upgrade — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value.
• Both landscaping and curb appeal — A well-maintained landscape will increase the property's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of potential leaks and old age.	Major	$15,000–50,000
exterior siding · Peeling paint and siding indicate significant damage.	Major	$15,000–50,000
HVAC/mechanicals · No visible signs of recent maintenance or updates.	Major	$15,000–50,000
landscaping · Overgrown vegetation and poor curb appeal suggest neglect and require significant work to improve the property's appearance.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale roof replacement — A new roof will significantly improve the property's appearance and increase its market value. ↑
• Resale exterior painting — Fresh paint will enhance the curb appeal and make the property more attractive to potential buyers. ↑
• Both HVAC system upgrade — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Both landscaping and curb appeal — A well-maintained landscape will increase the property's curb appeal and attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Columbia
• NCES district ID: 1200360
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $40,053
• Composite: 44.74/100
• National rank: #2750
• State rank: #25 of 73 in FL

Livability — Lake City

• Score: 73/100
• State rank: #304
• US rank: #5154

Category grades

Amenities C- Commute F Cost of living A+ Crime C Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,644

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 68,129 people
• By 2030: 67,501 · -0.9%
• By 2040: 65,465 · -3.9%
• By 2050: 63,058 · -7.4%
• By 2075: 56,291 · -17.4%
• By 2100: 45,243 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Italian 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+50.2) · D 24.6% · R 74.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -33.8pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+45.2 2016: R+44.5 2012: R+36.7 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.05%
• Current HPI: 269.4659
• 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

1 event — show timeline

• 2026-05-18 Listed $165,000 NFMLS