116 Iowa St · Welaka, FL 32112

$85,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 281 Days on market

Built 1986 6,969 sqft lot Est $131k · 35% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.4/10.0
• Schools +3.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice fenced in yard close to the St Johns River for the Boating or Fishing enthusiast. Lots of Retired friends close by. enjoy this Double wide home with lots of storage.

Key facts

• Double carport
• New water heater
• New refrigerator

Tags

• SPLIT BEDROOM PLAN
• TWO SHEDS FOR STORAGE
• DOUBLE CARPORT
• NEW REFRIGERATOR
• NEW WATER HEATER
• NEW WASHER

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Attached covered carport (2 spaces); On-street parking
• Security: Smoke detector(s)
• Utilities: Public sewer; Electricity connected; Sewer connected
• Home design: Manufactured home (double wide); One story; Entry level 1; South facing
• Construction: Metal roof
• Exterior features: Front porch; Rear porch; Fenced yard (chain link); Shed(s); Cleared lot; City street frontage; Dirt road surface

Interior

• Kitchen: Convection oven; Electric range; Freezer; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Has heating; Has cooling
• Interior features: Breakfast bar; Built-in features; Ceiling fan(s); Open floorplan; Pantry; Primary bathroom with shower (no tub); Smart thermostat; Split bedrooms; Walk-in closet(s)
• Laundry & utility: In-unit laundry; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 2.0% in Welaka — 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 55/100 on livability (#878 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, amenities F, commute 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: Middleton-Burney Elementary School (math 31% / reading 30%, grade F, #1,862 of 2,144 statewide, top 88%, 1,046 students, 70% FRL); Crescent City Jr-Sr High School (math 17% / reading 34%, grade F, #499 of 667 statewide, top 75%, 1,005 students, 72% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 144 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($588 loan paydown + $2k appreciation (2.9% local appreciation)).
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 281 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $60k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $85k implies a 70% 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.85% ✓
• Cap rate: 16.64%
• Cash-on-cash: 36.97%
• DSCR: 2.64
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $131,328
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Lake Dr	0.23mi	3/2.0 (+1)	1,196 (+4%)	6mo	$110,000	$92	72
106 Maryland Ave	0.20mi	2/2.0	1,269 (+10%)	4mo	$145,000	$114	71
93 Georgia Ave	0.14mi	3/2.0 (+1)	1,200 (+4%)	16mo	$125,000	$104	68
119 Putter Ln	0.46mi	2/1.0	1,184 (+3%)	16mo	$76,500	$65	57
107 Indiana St	0.37mi	3/2.0 (+1)	1,269 (+10%)	6mo	$160,000	$126	56
105 Putter Ln	0.39mi	3/2.0 (+1)	1,056 (-8%)	14mo	$168,700	$160	51

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

Projected returns pro-forma

2.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.3%
• Equity multiple: 3.37×
• Total profit: $56,290
• Equity at exit: $37,552

10-year hold

• IRR: 42.3%
• Equity multiple: 6.70×
• Total profit: $135,703
• Equity at exit: $57,359

Cash invested: $23,800 (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 32112

• Home prices YoY: 1.0%
• Active inventory: 144
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,576 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $733

Break-even live

Break-even rent $648

Max offer price $85,000

Occupancy floor 48%

Sensitivity live

Price	-10% $781	-5% $757	+0% $733	+5% $709	+10% $685
Rent	-10% $609	-5% $671	+0% $733	+5% $795	+10% $858
Rate	-1.0pp $776	-0.5pp $755	base $733	+0.5pp $711	+1.0pp $689

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $85,000 Active 281 DOM
2. 2026-06-18
   days on market $85,000 Active 278 DOM
3. 2026-06-17
   days on market $85,000 Active 277 DOM
4. 2026-06-16
   pricedays on market $85,000 Active 276 DOM
5. 2026-06-16
   price $112,000 Active 275 DOM
6. 2026-06-05
   days on market $115,000 Active 275 DOM
7. 2026-06-03
   days on market $115,000 Active 274 DOM
8. 2026-06-02
   days on market $115,000 Active 273 DOM
9. 2026-06-01
   days on market $115,000 Active 272 DOM
10. 2026-05-31
    days on market $115,000 Active 271 DOM
11. 2026-03-05
    status Active
12. 2026-03-05
    price $115,000
13. 2026-02-21
    historical
14. 2025-11-15
    price $119,000
15. 2025-10-15
    price $129,000
16. 2025-09-07
    price $139,000
17. 2025-08-21
    listed $145,000 Active
18. 2020-03-09
    historical 171-char remark

    Show marketing remark (171 chars)

    Nice fenced in yard close to the St Johns River for the Boating or Fishing enthusiast. Lots of Retired friends close by. enjoy this Double wide home with lots of storage.

19. 2020-01-20
    listed $71,995 Active 171-char remark

    Show marketing remark (171 chars)

    Nice fenced in yard close to the St Johns River for the Boating or Fishing enthusiast. Lots of Retired friends close by. enjoy this Double wide home with lots of storage.

20. 2003-07-08
    soldstatus $50,000

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$338/yr (+$28/mo · 92.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,912
• − Mortgage interest: −$4,761
• − Property taxes: −$367
• − Insurance: −$425
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − Depreciation: −$2,473
• Taxable income: $7,859
• Est. tax owed @ 24.0%: −$1,886
• After-tax cash flow: $6,913/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: 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 — Welaka

• Score: 55/100
• State rank: #878
• US rank: #23339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,200
• Population (ZIP): 8,099

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 47% Hispanic / Latino 38% Two or more races 30% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 34% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 20% · Canada
• Languages at home: 64% English-only · Spanish 32% Other Asian/Pacific 3%

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: ▲ 2.86%
• Current HPI: 279.58
• 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

+130.0% since first listed

10 events — show timeline

• 2026-03-05 Relisted — realMLS
• 2026-03-05 Price Changed $115,000 realMLS
• 2026-02-21 Listing Removed — realMLS
• 2025-11-15 Price Changed $119,000 realMLS
• 2025-10-15 Price Changed $129,000 realMLS
• 2025-09-07 Price Changed $139,000 realMLS
• 2025-08-21 Listed $145,000 realMLS
• 2020-03-09 Listing Removed — realMLS
• 2020-01-20 Listed $71,995 realMLS
• 2003-07-08 Sold (Public Records) $50,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $367 · +22.4% YoY. Source: county tax records.