54332 Pelican Rd · Nassau Village-Ratliff, FL 32011

$235,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 65 Days on market

Built 1983 1.00 ac lot Est $165k · 43% over ↓ 6% since listing

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• Schools +6.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.4/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to this beautifully updated mobile home that perfectly blends charm, comfort, & convenience. Nestled on a spacious, fully fenced lot, this property offers both privacy & room to enjoy outdoor living-whether that's entertaining, gardening, or simply relaxing under the open sky. Step inside to find a thoughtfully renovated interior featuring modern finishes, fresh updates, and a move-in-ready feel. Every detail has been designed to maximize both style and functionality, making this home an ideal choice for first-time buyers, downsizers, or anyone looking for an affordable upgrade. Location is a standout feature here--conveniently situated just minutes from major interstates

Key facts

• Modern finishes
• Move in ready
• Fully fenced lot

Tags

• FULLY FENCED LOT
• MODERN FINISHES
• MOVE IN READY
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Other parking
• Utilities: Septic tank; Electricity connected; Water connected; Sewer connected
• Home design: Manufactured double-wide home
• Construction: Metal roof
• Exterior features: Covered front porch; Full fencing; Shed(s) on the property; Asphalt road access

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Primary bathroom with tub and shower; Split-bedroom floorplan
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (36.0% below list).
• Recommended offer: $150k (36.0% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.1% in Nassau Village-Ratliff — 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.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Nassau (town): math 74% / reading 65% proficiency, ranked #4 of 73 in FL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Callahan Elementary School (658 students, 51% FRL); Callahan Middle School (math 79% / reading 65%, grade A, #52 of 571 statewide, top 10%, 705 students, 46% FRL); West Nassau County High School (math 39% / reading 55%, grade D-, #207 of 667 statewide, top 32%, 974 students, 40% FRL).
• Market conditions: 103 active listings in the ZIP; 953 units permitted in Nassau County in 2024 (24 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Nassau County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,328 (36.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.64% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• GRM: 13.0

CMA / ARV

• ARV (on-the-fly): $164,736
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54361 Seagull Dr	0.07mi	3/2.0	1,248 (+8%)	6mo	$179,000	$143	78
54041 Heller Rd	0.26mi	3/2.0	1,216 (+6%)	23mo	$75,000	$62	60
54055 Heller Rd	0.28mi	3/2.0	1,216 (+6%)	23mo	$85,000	$70	59
54002 Trooper Ct	0.52mi	2/2.0 (-1)	1,056 (-8%)	1mo	$155,000	$147	56
54202 Sunshine Dr	0.44mi	2/2.0 (-1)	1,086 (-6%)	15mo	$215,000	$198	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 2.73×
• Total profit: $113,702
• Equity at exit: $211,707

10-year hold

• IRR: 19.3%
• Equity multiple: 6.25×
• Total profit: $345,766
• Equity at exit: $456,553

Cash invested: $65,800 (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 32011

• Home prices YoY: 19.2%
• Active inventory: 103
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,503 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$80 /mo · $959/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-223

Break-even live

Break-even rent $1,785

Max offer price $195,680

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-156	+0% $-223	+5% $-289	+10% $-356
Rent	-10% $-341	-5% $-282	+0% $-223	+5% $-163	+10% $-104
Rate	-1.0pp $-104	-0.5pp $-163	base $-223	+0.5pp $-283	+1.0pp $-345

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $235,000 Active 65 DOM
2. 2026-06-18
   days on market $235,000 Active 62 DOM
3. 2026-06-17
   days on market $235,000 Active 61 DOM
4. 2026-06-16
   days on market $235,000 Active 60 DOM
5. 2026-06-15
   days on market $235,000 Active 59 DOM
6. 2026-06-13
   days on market $235,000 Active 57 DOM
7. 2026-06-13
   days on market $235,000 Active 56 DOM
8. 2026-06-09
   days on market $235,000 Active 53 DOM
9. 2026-06-08
   days on market $235,000 Active 52 DOM
10. 2026-06-07
    days on market $235,000 Active 51 DOM
11. 2026-06-05
    days on market $235,000 Active 48 DOM
12. 2026-06-03
    days on market $235,000 Active 47 DOM
13. 2026-06-02
    days on market $235,000 Active 46 DOM
14. 2026-06-01
    days on market $235,000 Active 45 DOM
15. 2026-05-31
    days on market $235,000 Active 44 DOM
16. 2026-05-15
    price $235,000
17. 2026-04-16
    listed $249,000 Active

ⓘ 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: $959 · $80/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$992/yr (+$83/mo · 103.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,039
• − Mortgage interest: −$13,164
• − Property taxes: −$959
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$6,836
• Taxable loss: −$6,981
• Est. tax savings @ 24.0%: +$1,675
• After-tax cash flow: $-996/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: Nassau
• NCES district ID: 1201350
• Math proficiency: 74% ▼ -2.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $58,267
• Composite: 59.79/100
• National rank: #899
• State rank: #4 of 73 in FL

Livability — Nassau Village-Ratliff

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Nassau Village-Ratliff, FL
• Population (ZIP): 15,716

Population outlook (Nassau County) Hauer SSP2

• Today (2025): 88,419 people
• By 2030: 92,679 · +4.8%
• By 2040: 99,257 · +12.3%
• By 2050: 103,378 · +16.9%
• By 2075: 109,726 · +24.1%
• By 2100: 107,006 · +21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Nassau

• 2024 margin: Solid R (+46.9) · D 26.1% · R 73.1%
• 2008→2024 swing: -3.1pp toward R · 2008: -43.8pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+45.9 2016: R+50.2 2012: R+48.6 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 56.56%
• Current HPI: 351.8301
• 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

-5.6% since first listed

2 events — show timeline

• 2026-05-15 Price Changed $235,000 realMLS
• 2026-04-16 Listed $249,000 realMLS

Property tax history

+8.9%/yr

Latest (2025): $959 · +13.7% YoY. Source: county tax records.