605 Standridge St

Bronson, FL 32621

$194,900C

3 bd · 2.0 ba · 1,984 sqft · Built 2007 · Manufactured · Active · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,684/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$354
• Net cashflow: $157/mo
• Annual: $1,885/yr
• Cap rate: 7.26%
• Cash-on-cash: 3.45%
• DSCR: 1.15
• 1% rule: 0.86%
• Cash to close: $54,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $157 ($2k/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 $168k (13.6% below list).
• It's been on market 147 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (13.6% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.4% local appreciation)).
• Location reads 68/100 on livability (#532 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Levy (rural): math 45% / reading 43% proficiency, ranked #54 of 73 in FL (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Williston Elementary School (math 53% / reading 52%, grade C-, #976 of 2,144 statewide, top 46%, 488 students, 71% FRL); Bronson Middle/High School (math 49% / reading 36%, grade F, #264 of 667 statewide, top 41%, 552 students, 62% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: 153 active listings in the ZIP; 199 units permitted in Levy County in 2024 (0 in 5+ unit buildings).
• Levy County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 15y 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.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k 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; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 147 days. Have you received any prior offers? Is the seller open to a 14% 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.