2001 Highway 177 · Bonifay, FL 32425

$109,000

3 bd · 2.0 ba · 990 sqft · Manufactured public records · 49 Days on market

Built 1999 Good condition 0.71 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 +19.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.5/10.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0

Listing remarks

Affordable country living in Bonifay. This mobile home sits on . 71 acres, fully fenced, offering privacy and room to spread out. Recent upgrades include a mini-split system installed in 2025 for added comfort and a new back porch/deck for outdoor use. Property allows chickens and has propane in place. Quiet setting with plenty of space, all at a price point that's hard to beat.

Key facts

• Recent upgrades
• Fully fenced
• Mini-split system

Tags

• FULLY FENCED
• RECENT UPGRADES
• MINI-SPLIT SYSTEM
• NEW BACK PORCH
• ALLOWS CHICKENS
• PROPANE IN PLACE

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Home design: Single-story mobile home
• Construction: Vinyl siding; Metal roof
• Exterior features: Covered patio; Deck; Fenced yard; Lot dimensions approximately 195 x 170 x 156 x 173 feet (0.71 acres)

Interior

• Kitchen: Propane cooktop
• Bedrooms: Three bedrooms on the first level (approx. 12 x 10; 12 x 12; 10 x 10) — measurements to verify; Includes a primary bedroom
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air; Ductless cooling
• Interior features: Accessible approach with ramp

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $109k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $103k (5.4% below list).
• Recommended offer: $103k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.8% in Bonifay — 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 (#577 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Holmes (rural): math 44% / reading 45% proficiency, ranked #53 of 73 in FL (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 141 active listings in the ZIP; 12 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($754 loan paydown + $11k appreciation (10.0% local appreciation)).
• Holmes County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $80k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,144 (5.4% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.5%
• Equity multiple: 3.18×
• Total profit: $66,596
• Equity at exit: $98,196

10-year hold

• IRR: 24.0%
• Equity multiple: 7.24×
• Total profit: $190,381
• Equity at exit: $211,763

Cash invested: $30,520 (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 32425

• Home prices YoY: 16.2%
• Active inventory: 141
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,031 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $114

Break-even live

Break-even rent $887

Max offer price $109,000

Occupancy floor 84%

Sensitivity live

Price	-10% $176	-5% $145	+0% $114	+5% $83	+10% $52
Rent	-10% $32	-5% $73	+0% $114	+5% $155	+10% $195
Rate	-1.0pp $169	-0.5pp $142	base $114	+0.5pp $86	+1.0pp $57

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $109,000 Active 49 DOM
2. 2026-06-17
   days on market $109,000 Active 48 DOM
3. 2026-06-16
   days on market $109,000 Active 47 DOM
4. 2026-06-15
   days on market $109,000 Active 46 DOM
5. 2026-06-14
   days on market $109,000 Active 44 DOM
6. 2026-06-13
   pricedays on market $109,000 Active 43 DOM
7. 2026-06-10
   days on market $110,000 Active 41 DOM
8. 2026-06-09
   days on market $110,000 Active 40 DOM
9. 2026-06-08
   days on market $110,000 Active 39 DOM
10. 2026-06-07
    days on market $110,000 Active 38 DOM
11. 2026-06-05
    days on market $110,000 Active 35 DOM
12. 2026-06-02
    days on market $110,000 Active 33 DOM
13. 2026-06-01
    days on market $110,000 Active 32 DOM
14. 2026-05-31
    days on market $110,000 Active 31 DOM
15. 2026-05-30
    days on market $110,000 Active 30 DOM
16. 2026-04-30
    listed $110,000 Active
17. 2024-05-24
    soldstatus $80,000
18. 2021-08-27
    historical
19. 2021-08-23
    listed $59,000

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,377
• − Mortgage interest: −$6,106
• − Property taxes: −$1,008
• − Insurance: −$545
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$3,171
• Taxable loss: −$433
• Est. tax savings @ 24.0%: +$104
• After-tax cash flow: $1,469/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 · 12 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with recent upgrades and a quiet, private setting. It offers a good balance of modern amenities and a peaceful environment.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers
• Both Painting exterior and interior walls — Fresh paint can make the home look more inviting and increase its value
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers ↑
• Both Painting exterior and interior walls — Fresh paint can make the home look more inviting and increase its value ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers ↑

ⓘ 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: Holmes
• NCES district ID: 1200900
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $35,365
• Composite: 36.83/100
• National rank: #4558
• State rank: #53 of 73 in FL

Livability — Bonifay

• Score: 67/100
• State rank: #577
• US rank: #10976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,944

Population outlook (Holmes County) Hauer SSP2

• Today (2025): 17,963 people
• By 2030: 17,245 · -4.0%
• By 2040: 15,970 · -11.1%
• By 2050: 14,905 · -17.0%
• By 2075: 12,327 · -31.4%
• By 2100: 9,760 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Holmes

• 2024 margin: Solid R (+80.2) · D 9.7% · R 89.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -65.0pp · 2024: -80.2pp
• All cycles: 2024: R+80.2 2020: R+78.9 2016: R+77.9 2012: R+68.3 2008: R+65.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.87%
• Current HPI: 322.29
• 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

+86.4% since first listed

4 events — show timeline

• 2026-04-30 Listed $110,000 CPARMLS
• 2024-05-24 Sold (Public Records) $80,000 Public Records
• 2021-08-27 Listing Removed — CPARMLS
• 2021-08-23 Listed $59,000 CPARMLS

Property tax history

+31.2%/yr

Latest (2025): $1,008 · +65.1% YoY. Source: county tax records.