29 SE 895th Ave

Suwannee, FL 32680

$145,000C

1 bd · 1.0 ba · 1,080 sqft · Built 2000 · Manufactured · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,443/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$668
• HOA: −$0
• Vac / Maint / Mgmt: −$303
• Net cashflow: $-288/mo
• Annual: $-3,461/yr
• Cap rate: 7.44%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• 1% rule: 1.00%
• Cash to close: $40,600

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $145k.
• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (28.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (0.5% below list).
• It's been on market 142 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (28.8% below list) — sets the bar for cash-flow.
• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Dixie (rural): math 52% / reading 50% proficiency, ranked #36 of 73 in FL (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 262 active listings in the ZIP; 49 units permitted in Dixie County in 2024 (0 in 5+ unit buildings).
• Dixie County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 142 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.