1021 NE Cummings Way · Lake City, FL 32055

$179,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 31 Days on market

Built 2007 0.25 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 +14.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* SELLER WILL PAY CLOSING COSTS * This 2007 mobile home sits on a 0.25-acre lot and is ready for your family to call it YOURS! Offering 3 bedrooms, 2 bathrooms, and 1,296 square feet of comfortable living space, this home features a bright open floor plan that seamlessly connects the living room, kitchen, and dining area, making it ideal for everyday living and entertaining. Recent updates include a new metal roof installed in 2022, along with a new refrigerator and stove, also installed in 2022. The home is connected to city water and sewer for added convenience. Conveniently located near I-10, this move in ready property offers comfort, functionality, and accessibility. Come see this mov

Key facts

• Open floor plan
• Metal roof
• City water

Tags

• METAL ROOF
• CITY WATER
• CITY SEWER
• OPEN FLOOR PLAN

Property features AI

Exterior

• Parking: 3-car garage
• Home design: Manufactured home; Residential property; RSF-3 zoning
• Construction: Frame construction; Metal roof
• Exterior features: Covered porch/patio; Screened porch/patio; Shed(s)

Interior

• Kitchen: Dishwasher; Electric cooktop; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Central air conditioning; Ceiling fans
• Interior features: Dishwasher; Electric cooktop; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $51 ($607/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 $153k (14.3% below list).
• Recommended offer: $153k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.7% in Lake City — 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 73/100 on livability (#304 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Columbia (town): math 53% / reading 54% proficiency, ranked #25 of 73 in FL (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 145 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Columbia County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $179k implies a 144% 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 $153,408 (14.3% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 14% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.86% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 9.7

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: 25.1%
• Equity multiple: 3.01×
• Total profit: $100,686
• Equity at exit: $161,257

10-year hold

• IRR: 22.2%
• Equity multiple: 6.86×
• Total profit: $293,925
• Equity at exit: $347,758

Cash invested: $50,120 (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 32055

• Home prices YoY: 24.1%
• Active inventory: 145
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,534 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$148 /mo · $1,777/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $51

Break-even live

Break-even rent $1,470

Max offer price $179,000

Occupancy floor 92%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $179,000 Active 31 DOM
2. 2026-06-18
   days on market $179,000 Active 30 DOM
3. 2026-06-17
   days on market $179,000 Active 29 DOM
4. 2026-06-16
   days on market $179,000 Active 28 DOM
5. 2026-06-15
   days on market $179,000 Active 27 DOM
6. 2026-06-14
   days on market $179,000 Active 25 DOM
7. 2026-06-12
   pricedays on market $179,000 Active 24 DOM
8. 2026-06-09
   days on market $179,900 Active 21 DOM
9. 2026-06-08
   days on market $179,900 Active 20 DOM
10. 2026-06-07
    days on market $179,900 Active 19 DOM
11. 2026-06-05
    days on market $179,900 Active 16 DOM
12. 2026-06-03
    days on market $179,900 Active 15 DOM
13. 2026-06-02
    days on market $179,900 Active 14 DOM
14. 2026-06-01
    days on market $179,900 Active 13 DOM
15. 2026-05-31
    days on market $179,900 Active 12 DOM
16. 2026-05-30
    days on market $179,900 Active 11 DOM
17. 2026-05-19
    listed $179,900 Active
18. 2007-04-12
    soldstatus $73,500

ⓘ 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: $1,777 · $148/mo
• Projected year-2 tax: $1,777 · $148/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 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 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,409
• − Mortgage interest: −$10,027
• − Property taxes: −$1,777
• − Insurance: −$895
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$5,207
• Taxable loss: −$2,442
• Est. tax savings @ 24.0%: +$586
• After-tax cash flow: $1,193/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: Columbia
• NCES district ID: 1200360
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $40,053
• Composite: 44.74/100
• National rank: #2750
• State rank: #25 of 73 in FL

Livability — Lake City

• Score: 73/100
• State rank: #304
• US rank: #5154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake City, FL
• County: Columbia County · 40,507 people
• City population: 40,507
• Metro: Lake City, FL
• Population (ZIP): 17,559
• Household income: $61,111
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 391.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 68,129 people
• By 2030: 67,501 · -0.9%
• By 2040: 65,465 · -3.9%
• By 2050: 63,058 · -7.4%
• By 2075: 56,291 · -17.4%
• By 2100: 45,243 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 29% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Iranian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+50.2) · D 24.6% · R 74.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -33.8pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+45.2 2016: R+44.5 2012: R+36.7 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 67.79%
• Current HPI: 348.8923
• Rent YoY: —
• Metro: Lake City, FL
• 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

+144.8% since first listed

2 events — show timeline

• 2026-05-19 Listed $179,900 NFMLS
• 2007-04-12 Sold (Public Records) $73,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,777 · +7.3% YoY. Source: county tax records.