3216 Boone Dr · Vernon, FL 32462

$159,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 23 Days on market

Built 2009

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +6.1/10.0
• 1% rule +4.8/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Tucked away on a private drive this pretty parcel features a single wide mobile home with an outbuilding. Property needs a good cleaning up, mobile home needs a good cleaning up and repairs. No survey available. Home is priced with all this in mind. Call today to take a peek.

Key facts

• Metal roof
• New kitchen
• Updated bathrooms

Tags

• METAL ROOF
• NEW KITCHEN
• NEW LAMINATE FLOORS
• UPDATED BATHROOMS
• WALK-IN SHOWERS
• UPDATED FRONT AND BACK PORCHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $251 ($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 $155k (2.4% below list).
• Recommended offer: $155k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.2% in Vernon — 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 59/100 on livability (#834 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Washington (rural): math 49% / reading 50% proficiency, ranked #45 of 73 in FL (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 active listings in the ZIP; 217 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.2% local appreciation)).
• Washington County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $50k; list at $159k implies a 218% 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; moderate 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 $155,203 (2.4% 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.98% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $49,856
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3216 Boone Dr	0.00mi	3/2.0	1,216 (0%)	15mo	$50,000	$41	88

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

Projected returns pro-forma

2.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.65×
• Total profit: $28,802
• Equity at exit: $64,795

10-year hold

• IRR: 14.4%
• Equity multiple: 2.98×
• Total profit: $88,147
• Equity at exit: $94,932

Cash invested: $44,520 (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 32462

• Home prices YoY: 1.0%
• Active inventory: 45
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,552 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$75 /mo · $898/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $251

Break-even live

Break-even rent $1,234

Max offer price $159,000

Occupancy floor 79%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $159,000 Active 23 DOM
2. 2026-06-17
   days on market $159,000 Active 22 DOM
3. 2026-06-16
   days on market $159,000 Active 21 DOM
4. 2026-06-15
   days on market $159,000 Active 20 DOM
5. 2026-06-13
   days on market $159,000 Active 18 DOM
6. 2026-06-12
   days on market $159,000 Active 17 DOM
7. 2026-06-09
   days on market $159,000 Active 14 DOM
8. 2026-06-08
   days on market $159,000 Active 13 DOM
9. 2026-06-07
   days on market $159,000 Active 12 DOM
10. 2026-06-07
    days on market $159,000 Active 11 DOM
11. 2026-06-04
    days on market $159,000 Active 8 DOM
12. 2026-06-02
    days on market $159,000 Active 7 DOM
13. 2026-06-01
    days on market $159,000 Active 6 DOM
14. 2026-05-31
    days on market $159,000 Active 5 DOM
15. 2026-05-31
    days on market $159,000 Active 4 DOM
16. 2026-05-27
    listed $159,000 Active
17. 2025-03-19
    soldstatus $50,000 Closed 276-char remark

    Show marketing remark (276 chars)

    Tucked away on a private drive this pretty parcel features a single wide mobile home with an outbuilding. Property needs a good cleaning up, mobile home needs a good cleaning up and repairs. No survey available. Home is priced with all this in mind. Call today to take a peek.

18. 2025-02-23
    status Pending 276-char remark

    Show marketing remark (276 chars)

    Tucked away on a private drive this pretty parcel features a single wide mobile home with an outbuilding. Property needs a good cleaning up, mobile home needs a good cleaning up and repairs. No survey available. Home is priced with all this in mind. Call today to take a peek.

19. 2025-02-12
    listed $75,000 Active 276-char remark

    Show marketing remark (276 chars)

    Tucked away on a private drive this pretty parcel features a single wide mobile home with an outbuilding. Property needs a good cleaning up, mobile home needs a good cleaning up and repairs. No survey available. Home is priced with all this in mind. Call today to take a peek.

20. 2024-12-17
    historical
21. 2024-06-25
    listed $154,000 Active

ⓘ 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: $898 · $75/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$421/yr (+$35/mo · 46.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,624
• − Mortgage interest: −$8,906
• − Property taxes: −$898
• − Insurance: −$795
• − Repairs & maintenance: −$1,490
• − Management: −$1,490
• − Depreciation: −$4,625
• Taxable income: $419
• Est. tax owed @ 24.0%: −$101
• After-tax cash flow: $2,913/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: Washington
• NCES district ID: 1202010
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $36,948
• Composite: 41.12/100
• National rank: #3561
• State rank: #45 of 73 in FL

Livability — Vernon

• Score: 59/100
• State rank: #834
• US rank: #20536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,452

Population outlook (Washington County) Hauer SSP2

• Today (2025): 24,087 people
• By 2030: 23,600 · -2.0%
• By 2040: 22,643 · -6.0%
• By 2050: 21,524 · -10.6%
• By 2075: 18,432 · -23.5%
• By 2100: 13,298 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Two or more races 8% Native American 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Greek 2% Slovak 1% Lithuanian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+65.4) · D 17.0% · R 82.4%
• 2008→2024 swing: -17.7pp toward R · 2008: -47.8pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+61.1 2016: R+57.1 2012: R+47.4 2008: R+47.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.24%
• Current HPI: 221.7113
• 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

+3.2% since first listed

6 events — show timeline

• 2026-05-27 Listed $159,000 FSBO.com
• 2025-03-19 Sold (MLS) $50,000 CPARMLS
• 2025-02-23 Pending — CPARMLS
• 2025-02-12 Listed $75,000 CPARMLS
• 2024-12-17 Listing Removed — CPARMLS
• 2024-06-25 Listed $154,000 CPARMLS

Property tax history

+42.7%/yr

Latest (2025): $898 · +25.9% YoY. Source: county tax records.