7513 W Dunklin St

Pine Ridge, FL 34433

$235,000D

3 bd · 2.0 ba · 1,475 sqft · Built 2025 · Manufactured · Active · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,999/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$392
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $-45/mo
• Annual: $-537/yr
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $235k.
• At list price, monthly cash flow is $-45 ($-537/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (14.9% below list).
• It's been on market 136 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (14.9% 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 $7k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#565 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: health & safety C-, amenities F, commute F.
• Citrus (rural): math 49% / reading 50% proficiency, ranked #44 of 73 in FL (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Citrus Springs Elementary School (math 52% / reading 48%, grade D+, #1,070 of 2,144 statewide, top 51%, 817 students, 71% FRL); Crystal River Middle School (math 49% / reading 47%, grade C-, #286 of 571 statewide, top 50%, 900 students, 64% FRL); Crystal River High School (math 31% / reading 44%, grade F, #336 of 667 statewide, top 51%, 1,249 students, 56% FRL).
• Market conditions: 653 active listings in the ZIP; 2,443 units permitted in Citrus County in 2024 (0 in 5+ unit buildings).
• Citrus County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• Cap rate 6.1% vs local median 3.4% in Pine Ridge — 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.

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 136 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.