102 Tree Farm Rd · Interlachen, FL 32640

$169,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 30 Days on market

Built 1998 0.44 ac lot

---

Why this score? — see what drove the D+ 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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.4/10.0
• 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 MLS

Affordable living or a great investment opportunity! This 3-bedroom, 2-bath mobile home sits on a half acre of fully fenced land, offering privacy and space to enjoy the outdoors. Features include a durable metal roof and plenty of room to grow. Conveniently located near Hawthorne and just a short drive to Gainesville — this property is full of potential!

Key facts

• 0.44 acre lot
• Built 1998
• Listed 30 days

Property features AI

Finance

• Other: Approximately 0.44 acre lot (about 1/4 to less than 1/2 acre)
• Financial info: No lease restrictions indicated

Exterior

• Utilities: Electricity available and connected; Water available and connected; Sewer available and connected
• Home design: Manufactured home (double wide); Single-story; North-facing
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built on a single level
• Exterior features: Exterior lighting

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $159 ($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 $159k (6.3% below list).
• Recommended offer: $159k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: Ochwilla Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 410 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: 300 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 30 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $75k; list at $170k implies a 127% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,195 (6.3% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.02%
• DSCR: 1.18
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $86,336
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313 White Sands Beaches Dr	0.56mi	3/2.0	1,344 (+10%)	5mo	$95,000	$71	52

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: -10.0%
• Equity multiple: 0.63×
• Total profit: $-17,411
• Equity at exit: $25,333

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,192
• Equity at exit: $14,690

Cash invested: $47,572 (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 32640

• Home prices YoY: -5.3%
• Active inventory: 300
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$137 /mo · $1,639/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $159

Break-even live

Break-even rent $1,390

Max offer price $169,900

Occupancy floor 85%

Sensitivity live

Price	-10% $255	-5% $207	+0% $159	+5% $111	+10% $63
Rent	-10% $33	-5% $96	+0% $159	+5% $222	+10% $285
Rate	-1.0pp $245	-0.5pp $202	base $159	+0.5pp $115	+1.0pp $70

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-05
   statusdays on market $169,900 Pending 30 DOM
2. 2026-06-03
   days on market $169,900 Active 29 DOM
3. 2026-06-02
   days on market $169,900 Active 28 DOM
4. 2026-06-01
   days on market $169,900 Active 27 DOM
5. 2026-05-31
   days on market $169,900 Active 26 DOM
6. 2026-05-11
   price $169,900
7. 2026-05-05
   listed $174,500 Active
8. 2026-02-19
   soldstatus $75,000
9. 2026-01-21
   historical 363-char remark

   Show marketing remark (363 chars)

   Affordable living or a great investment opportunity! This 3-bedroom, 2-bath mobile home sits on a half acre of fully fenced land, offering privacy and space to enjoy the outdoors. Features include a durable metal roof and plenty of room to grow. Conveniently located near Hawthorne and just a short drive to Gainesville — this property is full of potential!

10. 2025-11-23
    price $86,000 363-char remark

    Show marketing remark (363 chars)

    Affordable living or a great investment opportunity! This 3-bedroom, 2-bath mobile home sits on a half acre of fully fenced land, offering privacy and space to enjoy the outdoors. Features include a durable metal roof and plenty of room to grow. Conveniently located near Hawthorne and just a short drive to Gainesville — this property is full of potential!

11. 2025-11-13
    price $91,000 363-char remark

    Show marketing remark (363 chars)

    Affordable living or a great investment opportunity! This 3-bedroom, 2-bath mobile home sits on a half acre of fully fenced land, offering privacy and space to enjoy the outdoors. Features include a durable metal roof and plenty of room to grow. Conveniently located near Hawthorne and just a short drive to Gainesville — this property is full of potential!

12. 2025-10-29
    listed $96,000 Active 363-char remark

    Show marketing remark (363 chars)

    Affordable living or a great investment opportunity! This 3-bedroom, 2-bath mobile home sits on a half acre of fully fenced land, offering privacy and space to enjoy the outdoors. Features include a durable metal roof and plenty of room to grow. Conveniently located near Hawthorne and just a short drive to Gainesville — this property is full of potential!

ⓘ 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: $1,639 · $137/mo
• Projected year-2 tax: $1,639 · $137/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 21 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: $19,103
• − Mortgage interest: −$9,517
• − Property taxes: −$1,639
• − Insurance: −$850
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$4,943
• Taxable loss: −$902
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $2,127/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): 10,780

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 (69%)
• Race & ethnicity: White 69% Black 24% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -15.68%
• Current HPI: 278.0079
• 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

+77.0% since first listed

7 events — show timeline

• 2026-05-11 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listed $174,500 Stellar MLS as Distributed by MLS Grid
• 2026-02-19 Sold (Public Records) $75,000 Public Records
• 2026-01-21 Listing Removed — realMLS
• 2025-11-23 Price Changed $86,000 realMLS
• 2025-11-13 Price Changed $91,000 realMLS
• 2025-10-29 Listed $96,000 realMLS

Property tax history

+4.5%/yr

Latest (2025): $1,639 · +6.7% YoY. Source: county tax records.