13088 County Road 122

Sanderson, FL 32807

$259,900D-

3 bd · 2.0 ba · 2,170 sqft · Built 2023 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,023/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$285
• HOA: −$0
• Vac / Maint / Mgmt: −$425
• Net cashflow: $-50/mo
• Annual: $-603/yr
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• 1% rule: 0.78%
• Cash to close: $72,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $260k.
• At list price, monthly cash flow is $-50 ($-603/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (22.2% below list).
• It's been on market 31 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $202k (22.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Baker (town): math 53% / reading 49% proficiency, ranked #28 of 73 in FL (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Baker County Middle School (math 47% / reading 42%, grade D, #320 of 571 statewide, top 57%, 1,102 students, 52% FRL); Baker County Senior High School (math 41% / reading 48%, grade F, #237 of 667 statewide, top 36%, 1,425 students, 40% FRL).
• Market conditions: Rents rising (+2.6%/yr); 172 active listings in the ZIP; 99 units permitted in Baker County in 2024 (0 in 5+ unit buildings).
• Baker County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 40% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.