15633 Fl-121 · Raiford, FL 32083

$390,000

2 bd · 2.0 ba · 700 sqft · MultiFamily public records · 408 Days on market

Built 1980 1.42 ac lot ↓ 8% since listing

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Why this score? — see what drove the B 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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +5.0/10.0
• Schools +4.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

Key facts

• Stable rental income
• 1.42 acre lot
• Built 1980

Tags

• 5 UNIT-MOBILE HOME PROPERTY
• STABLE RENTAL INCOME
• LOCATED IN RAIFORD FL
• NEW SEPTIC DRAINFIELD

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1.4-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $246/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $390k).
• Recommended offer: $343k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#860 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D+, schools D, amenities F.
• Union (town): math 62% / reading 54% proficiency, ranked #17 of 73 in FL (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 45 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($3k loan paydown + $12k appreciation (3.0% local appreciation)).
• Union County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 408 days — a 12% lower offer ($343k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $85k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $343,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 408 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 20.2%
• Equity multiple: 2.15×
• Total profit: $125,322
• Equity at exit: $175,361

10-year hold

• IRR: 21.3%
• Equity multiple: 4.08×
• Total profit: $336,211
• Equity at exit: $270,252

Cash invested: $109,200 (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 32083

• Active inventory: 9
• Price-to-rent: 34.7×

Monthly cashflow live

• Estimated rent: $4,682 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$260 /mo · $3,120/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$983
• Net cashflow: $1,231

Break-even live

Break-even rent $3,124

Max offer price $390,000

Occupancy floor 69%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	1.4	$4,680
Total (5 units)			$4,682

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $390,000 Active 408 DOM
2. 2026-06-18
   days on market $390,000 Active 407 DOM
3. 2026-06-17
   days on market $390,000 Active 406 DOM
4. 2026-06-16
   days on market $390,000 Active 405 DOM
5. 2026-06-15
   days on market $390,000 Active 404 DOM
6. 2026-06-14
   days on market $390,000 Active 402 DOM
7. 2026-06-12
   remarks 369-char remark
8. 2026-06-12
   days on market $390,000 Active 401 DOM
9. 2026-06-09
   days on market $390,000 Active 398 DOM
10. 2026-06-08
    days on market $390,000 Active 397 DOM
11. 2026-06-07
    days on market $390,000 Active 396 DOM
12. 2026-06-05
    days on market $390,000 Active 393 DOM
13. 2026-06-03
    days on market $390,000 Active 392 DOM
14. 2026-06-02
    days on market $390,000 Active 391 DOM
15. 2026-06-01
    days on market $390,000 Active 390 DOM
16. 2026-05-31
    days on market $390,000 Active 389 DOM
17. 2026-05-30
    days on market $390,000 Active 388 DOM
18. 2026-03-09
    price $390,000 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

19. 2026-01-12
    price $425,000 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

20. 2025-11-07
    status Active 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

21. 2025-11-05
    price $450,000 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

22. 2025-11-05
    historical 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

23. 2025-09-08
    price $455,000 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

24. 2025-09-08
    price $450,000 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

25. 2025-05-05
    listed $475,000 Active 346-char remark

    Show marketing remark (346 chars)

    Profitable 5 unit-Mobile home property for sale. Incredible opportunity for investors seeking passive income. Stable rental income of $4650 per month. Perfectly located in Raiford FL, a charming rural community while located conveniently close to nearby cities of Gainesville & Jacksonville. Turn-key opportunity. Call for more inforrmation.

26. 2025-04-04
    historical 393-char remark

    Show marketing remark (393 chars)

    Excellent investment opportunity! This property includes five fully rented dwellings situated in the sought-after Union County, ideally positioned between Jacksonville and Gainesville. These units provide a reliable source of rental income, making it a perfect addition to your investment portfolio. This property requires a cash-only purchase, with no financing or mortgage options available.

27. 2024-10-04
    listed $425,000 Active 393-char remark

    Show marketing remark (393 chars)

    Excellent investment opportunity! This property includes five fully rented dwellings situated in the sought-after Union County, ideally positioned between Jacksonville and Gainesville. These units provide a reliable source of rental income, making it a perfect addition to your investment portfolio. This property requires a cash-only purchase, with no financing or mortgage options available.

ⓘ 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: $3,120 · $260/mo
• Projected year-2 tax: $3,237 · $270/mo
• Expected delta: +$117/yr (+$10/mo · 3.8%)

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

Taxation est. · year 1

• Rental income: $56,184
• − Mortgage interest: −$21,846
• − Property taxes: −$3,120
• − Insurance: −$1,950
• − Repairs & maintenance: −$4,495
• − Management: −$4,495
• − Depreciation: −$11,345
• Taxable income: $8,933
• Est. tax owed @ 24.0%: −$2,144
• After-tax cash flow: $12,629/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: Union
• NCES district ID: 1201890
• Math proficiency: 62% ▼ -11.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $40,908
• Composite: 48.59/100
• National rank: #2111
• State rank: #17 of 73 in FL

Livability — Raiford

• Score: 57/100
• State rank: #860
• US rank: #22145

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,627

Population outlook (Union County) Hauer SSP2

• Today (2025): 14,613 people
• By 2030: 14,322 · -2.0%
• By 2040: 13,780 · -5.7%
• By 2050: 13,325 · -8.8%
• By 2075: 11,965 · -18.1%
• By 2100: 9,102 · -37.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 23% Two or more races 11% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Serbian 3% Iranian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+68.3) · D 15.6% · R 83.8%
• 2008→2024 swing: -18.4pp toward R · 2008: -49.9pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+65.3 2016: R+62.4 2012: R+49.0 2008: R+49.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-8.2% since first listed

10 events — show timeline

• 2026-03-09 Price Changed $390,000 realMLS
• 2026-01-12 Price Changed $425,000 realMLS
• 2025-11-07 Relisted — realMLS
• 2025-11-05 Price Changed $450,000 realMLS
• 2025-11-05 Listing Removed — realMLS
• 2025-09-08 Price Changed $455,000 realMLS
• 2025-09-08 Price Changed $450,000 realMLS
• 2025-05-05 Listed $475,000 realMLS
• 2025-04-04 Listing Removed — realMLS
• 2024-10-04 Listed $425,000 realMLS

Property tax history

+6.7%/yr

Latest (2025): $3,120 · +5.3% YoY. Source: county tax records.