657 Pine St · Panacea, FL 32346

$299,000

3 bd · 2.0 ba · 1,664 sqft · Manufactured public records · 51 Days on market

Built 1995 0.43 ac lot

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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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

For Sold/Comp purpose

Key facts

• Private pool
• Scenic hiking trails
• Double lot

Tags

• PRIVATE POOL
• RV HOOK UP
• DOUBLE LOT
• COMMUNITY BOAT LAUNCH
• SCENIC HIKING TRAILS

Property features AI

Finance

• Financial info: Property is for sale

Exterior

• Parking: Carport with space for one vehicle
• Utilities: Septic tank (sewer)
• Home design: Single-story; Double-wide mobile home; Crawlspace foundation
• Construction: In-ground private pool
• Exterior features: Covered patio/porch; Deck; Porch; Partial privacy fencing; Property has a view

Interior

• Kitchen: Oven; Range; Microwave; Refrigerator
• Bedrooms: Bedroom 2 (11x13); Bedroom 3 (10x11); Additional room 13x13
• Flooring: Plank; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Wood-burning heating option; Central air conditioning; Ceiling fans
• Interior features: Tray ceilings; Vaulted ceilings; Window treatments; Split-bedroom floor plan; Walk-in closets; Fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $299k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (30.0% below list).
• Recommended offer: $209k (30.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#799 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, amenities F, commute F.
• Franklin (rural): math 33% / reading 38% proficiency, ranked #67 of 73 in FL (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Apalachicola Bay Charter School (math 56% / reading 48%, grade C-, #990 of 2,144 statewide, top 48%, 359 students, 60% FRL, charter); Franklin County Learning Center (56 students, 77% FRL) — zoned schools average 68% FRL vs 84% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 52% at this address vs 36% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Franklin average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 147 active listings in the ZIP; 113 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Franklin County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,227 (30.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.70%
• DSCR: 0.88
• GRM: 11.9

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: 21.7%
• Equity multiple: 2.75×
• Total profit: $146,527
• Equity at exit: $269,363

10-year hold

• IRR: 19.5%
• Equity multiple: 6.31×
• Total profit: $444,146
• Equity at exit: $580,891

Cash invested: $83,720 (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 32346

• Home prices YoY: 26.4%
• Active inventory: 147
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,092 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$149 /mo · $1,788/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-255

Break-even live

Break-even rent $2,415

Max offer price $253,926

Occupancy floor —

Sensitivity live

Price	-10% $-86	-5% $-171	+0% $-255	+5% $-340	+10% $-424
Rent	-10% $-420	-5% $-338	+0% $-255	+5% $-173	+10% $-90
Rate	-1.0pp $-105	-0.5pp $-179	base $-255	+0.5pp $-333	+1.0pp $-411

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $299,000 Active 51 DOM
2. 2026-06-19
   days on market $299,000 Active 49 DOM
3. 2026-06-18
   days on market $299,000 Active 48 DOM
4. 2026-06-10
   days on market $299,000 Active 47 DOM
5. 2026-06-09
   days on market $299,000 Active 46 DOM
6. 2026-06-08
   days on market $299,000 Active 45 DOM
7. 2026-06-07
   days on market $299,000 Active 44 DOM
8. 2026-06-05
   days on market $299,000 Active 41 DOM
9. 2026-06-03
   days on market $299,000 Active 40 DOM
10. 2026-06-02
    days on market $299,000 Active 39 DOM
11. 2026-06-01
    days on market $299,000 Active 38 DOM
12. 2026-05-31
    days on market $299,000 Active 37 DOM
13. 2026-05-30
    days on market $299,000 Active 36 DOM
14. 2026-04-24
    historical
15. 2026-03-18
    listed $325,000 Active
16. 2024-05-30
    soldstatus $230,000 21-char remark

    Show marketing remark (21 chars)

    For Sold/Comp purpose

17. 2024-04-30
    soldstatus $230,000
18. 2024-04-11
    listed $240,000 21-char remark

    Show marketing remark (21 chars)

    For Sold/Comp purpose

19. 2008-12-05
    soldstatus $165,000
20. 2006-04-24
    listed $299,000 Active
21. 2004-07-12
    soldstatus $199,000

ⓘ 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: $1,788 · $149/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$693/yr (+$58/mo · 38.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $25,107
• − Mortgage interest: −$16,749
• − Property taxes: −$1,788
• − Insurance: −$2,292
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − Depreciation: −$8,698
• Taxable loss: −$8,437
• Est. tax savings @ 24.0%: +$2,025
• After-tax cash flow: $-1,037/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: Franklin
• NCES district ID: 1200570
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $39,084
• Composite: 29.7/100
• National rank: #6454
• State rank: #67 of 73 in FL

Livability — Panacea

• Score: 60/100
• State rank: #799
• US rank: #18502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,393

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 11,827 people
• By 2030: 11,839 · +0.1%
• By 2040: 11,707 · -1.0%
• By 2050: 11,218 · -5.1%
• By 2075: 9,849 · -16.7%
• By 2100: 7,286 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Scottish 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+43.8) · D 27.7% · R 71.5%
• 2008→2024 swing: -15.9pp toward R · 2008: -27.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+37.3 2016: R+39.7 2012: R+31.5 2008: R+27.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 87.07%
• Current HPI: 417.3486
• 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

+63.3% since first listed

8 events — show timeline

• 2026-04-24 Listing Removed — CATRS
• 2026-03-18 Listed $325,000 CATRS
• 2024-05-30 Sold (MLS) $230,000 CATRS
• 2024-04-30 Sold (Public Records) $230,000 Public Records
• 2024-04-11 Listed $240,000 CATRS
• 2008-12-05 Sold (Public Records) $165,000 Public Records
• 2006-04-24 Listed $299,000 CATRS
• 2004-07-12 Sold (Public Records) $199,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,788 · +113.2% YoY. Source: county tax records.