121 Church Lake Dr · Interlachen, FL 32148

$130,000

2 bd · 2.0 ba · 840 sqft · Manufactured public records · 6 Days on market

Built 1985 0.69 ac lot Est $176k · 26% under · waterfront

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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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lakefront property on Church Lake featuring approximately 77 feet of lake frontage . The property includes a 1985 Crescent Limited mobile home offering 847 square feet of living space with two bedrooms , two bathrooms and a wood burning fireplace . Also included is a large storage shed that could be used as a garage . Enjoy peaceful waterfront views with plenty of space for outdoor activities , fishing , swimming or relaxing by the lake . Ideal for a weekend retreat , investment opportunity or affordable full-time residence .

Key facts

• Lakefront property
• Waterfront views
• Lake frontage

Tags

• LAKEFRONT PROPERTY
• LAKE FRONTAGE
• WOOD BURNING FIREPLACE
• LARGE STORAGE SHED
• WATERFRONT VIEWS

Property features AI

Finance

• Other: Lot approximately 0.69 acres
• HOA & community: Not a senior community

Exterior

• Parking: Other parking
• Utilities: Septic tank; Water available; Sewer connected; Electricity connected
• Home design: Single wide mobile home; Residential use
• Exterior features: Lakefront property; Accessible approach with ramp

Interior

• Kitchen: Dishwasher; Electric oven; Gas cooktop
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Wood-burning fireplace (1 total)
• Laundry & utility: Water available; Sewer connected; Electricity connected

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $59 ($703/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 $109k (16.2% below list).
• Recommended offer: $109k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.1% in Interlachen — 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 67/100 on livability (#540 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• 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.
• Zoned schools: Robert H. Jenkins Jr Elementary School (math 34% / reading 32%, grade F, #1,773 of 2,144 statewide, top 83%, 904 students, 64% FRL); Putnam Academy of Arts And Sciences (math 42% / reading 52%, grade D+, #291 of 571 statewide, top 52%, 177 students, 75% FRL, charter); Interlachen Jr-Sr High School (math 16% / reading 32%, grade F, #529 of 667 statewide, top 80%, 1,097 students, 71% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 760 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $899 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $130k implies a 100% 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 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,990 (16.2% below list)

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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
4. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
5. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 0.84% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $175,770
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Church Lake Dr	0.00mi	2/2.0	847 (+1%)	1mo	$120,000	$142	98
1111 Junior Lake Dr	0.55mi	2/2.0	840 (0%)	14mo	$174,900	$208	63
125 Ofarrell Ave	0.31mi	2/2.0	924 (+10%)	14mo	$114,000	$123	57
104 Cindy Ave	0.43mi	2/2.0	924 (+10%)	11mo	$125,000	$135	54
116 Guy Ave	0.18mi	2/1.5	728 (-13%)	19mo	$126,500	$174	52
122 Arden Ave	0.42mi	3/3.0 (+1)	720 (-14%)	6mo	$120,000	$167	42
1121 Junior Lake Dr	0.61mi	2/2.0	960 (+14%)	22mo	$149,000	$155	29

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-17,375
• Equity at exit: $19,383

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-10,496
• Equity at exit: $11,240

Cash invested: $36,400 (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 32148

• Home prices YoY: -5.8%
• Active inventory: 760
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,090 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$67 /mo · $798/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $59

Break-even live

Break-even rent $1,016

Max offer price $130,000

Occupancy floor 90%

Sensitivity live

Price	-10% $132	-5% $95	+0% $59	+5% $22	+10% $-15
Rent	-10% $-27	-5% $16	+0% $59	+5% $102	+10% $145
Rate	-1.0pp $124	-0.5pp $92	base $59	+0.5pp $25	+1.0pp $-9

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Cindy Ave Interlachen, FL	2.0	2.0	784	$1,000	$1.28	23d	1	0.51mi
123 Hayman Dr Interlachen, FL	2.0	1.0	598	$1,250	$2.09	25d	1	0.96mi
125 Hayman Dr Interlachen, FL	2.0	1.0	642	$1,250	$1.95	25d	1	0.97mi
707 Dawn Ave Interlachen, FL	2.0	1.0	676	$975	$1.44	23d	1	1.15mi

Listing history 4 events

1. 2026-05-04
   status Pending
2. 2026-04-27
   listed $130,000 Active
3. 2005-08-18
   soldstatus $65,000
4. 1995-06-30
   soldstatus $36,000

ⓘ 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: $798 · $67/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$281/yr (+$23/mo · 35.2%)

ⓘ 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 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,079
• − Mortgage interest: −$7,282
• − Property taxes: −$798
• − Insurance: −$650
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$3,782
• Taxable loss: −$1,526
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $1,070/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 — Interlachen

• Score: 67/100
• State rank: #540
• US rank: #10162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,580
• Population (ZIP): 11,580

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -16.98%
• Current HPI: 277.2763
• 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

+261.1% since first listed

4 events — show timeline

• 2026-05-04 Pending — realMLS
• 2026-04-27 Listed $130,000 realMLS
• 2005-08-18 Sold (Public Records) $65,000 Public Records
• 1995-06-30 Sold (Public Records) $36,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $798 · +12.8% YoY. Source: county tax records.