18905 NW 250th St

High Springs, FL 32643

$235,000C

4 bd · 3.0 ba · 1,976 sqft · Built 2008 · Manufactured · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,575/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$397
• HOA: −$0
• Vac / Maint / Mgmt: −$541
• Net cashflow: $405/mo
• Annual: $4,856/yr
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• 1% rule: 1.10%
• Cash to close: $65,800

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $235k.
• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#506 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, amenities F, commute F.
• Alachua (urban): math 49% / reading 54% proficiency, ranked #30 of 73 in FL (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Santa Fe High School (math 35% / reading 56%, grade D-, #223 of 667 statewide, top 34%, 1,154 students, 47% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 190 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• Alachua County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 5y 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.
• 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.
• Cap rate 8.4% vs local median 3.9% in High Springs — 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.
• This rent runs 37% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.