29 NE 601st St · Fanning Springs, FL 32680

$159,000

3 bd · 1.0 ba · 1,152 sqft · Manufactured public records · 54 Days on market

Built 1985 1.47 ac lot

---

Why this score? — see what drove the C+ 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 +22.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment property with a little TLC. Come see this 1.47 acres beautifully laid out with numerous large oaks and cedar trees. The property itself has two separate working wells with one hooked into a water filtration system. This three-bedroom two bath offers a living room and den that are adjacent to a dinning/breakfast area. This home and property is not in a flood zone. Located in Old Town, Fl just minutes away from the Suwannee River and a boat launch. Come enjoy the benefits of a quiet country lifestyle while still living in range to enjoy all that Florida has to offer for day trips.

Key facts

• 1.47 acre lot
• Built 1985
• Listed 54 days

Property features AI

Exterior

• Utilities: Private well water
• Home design: Residential mobile home
• Construction: Vinyl siding; Metal roof
• Exterior features: Covered patio/porch; Level and wooded lot; Workshop (outbuilding)

Interior

• Kitchen: Refrigerator
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Interior features: Crawl space basement; Total of 6 rooms
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (4.1% below list).
• Recommended offer: $152k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 3.7% in Fanning Springs — 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 63/100 on livability (#739 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• 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.
• Market conditions: 262 active listings in the ZIP; 49 units permitted in Dixie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Dixie County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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.
• Current owner paid $50k; list at $159k implies a 218% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,445 (4.1% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $47,232
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
481 NE 639th St	0.67mi	3/2.0	1,232 (+7%)	4mo	$50,000	$41	50

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: 29.4%
• Equity multiple: 3.32×
• Total profit: $103,120
• Equity at exit: $143,240

10-year hold

• IRR: 25.5%
• Equity multiple: 7.52×
• Total profit: $290,477
• Equity at exit: $308,902

Cash invested: $44,520 (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 32680

• Home prices YoY: 2.5%
• Active inventory: 262
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,524 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$44 /mo · $524/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $261

Break-even live

Break-even rent $1,195

Max offer price $159,000

Occupancy floor 78%

Sensitivity live

Price	-10% $351	-5% $306	+0% $261	+5% $216	+10% $171
Rent	-10% $140	-5% $200	+0% $261	+5% $321	+10% $381
Rate	-1.0pp $341	-0.5pp $301	base $261	+0.5pp $219	+1.0pp $177

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $159,000 Active 54 DOM
2. 2026-06-18
   days on market $159,000 Active 52 DOM
3. 2026-06-17
   days on market $159,000 Active 51 DOM
4. 2026-06-16
   days on market $159,000 Active 50 DOM
5. 2026-06-15
   days on market $159,000 Active 49 DOM
6. 2026-06-13
   days on market $159,000 Active 47 DOM
7. 2026-06-12
   days on market $159,000 Active 46 DOM
8. 2026-06-09
   days on market $159,000 Active 43 DOM
9. 2026-06-08
   days on market $159,000 Active 42 DOM
10. 2026-06-07
    days on market $159,000 Active 41 DOM
11. 2026-06-07
    days on market $159,000 Active 40 DOM
12. 2026-06-04
    days on market $159,000 Active 37 DOM
13. 2026-06-02
    days on market $159,000 Active 36 DOM
14. 2026-06-01
    days on market $159,000 Active 35 DOM
15. 2026-05-31
    days on market $159,000 Active 34 DOM
16. 2026-05-31
    days on market $159,000 Active 33 DOM
17. 2026-04-27
    listed $159,000 Active
18. 2022-06-28
    listed $119,000 Active
19. 2008-10-07
    soldstatus $50,000

ⓘ 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: $524 · $44/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$796/yr (+$66/mo · 151.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,293
• − Mortgage interest: −$8,906
• − Property taxes: −$524
• − Insurance: −$795
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$4,625
• Taxable income: $516
• Est. tax owed @ 24.0%: −$124
• After-tax cash flow: $3,003/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: Dixie
• NCES district ID: 1200450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $34,799
• Composite: 42.18/100
• National rank: #3290
• State rank: #36 of 73 in FL

Livability — Fanning Springs

• Score: 63/100
• State rank: #739
• US rank: #15960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,445

Population outlook (Dixie County) Hauer SSP2

• Today (2025): 15,122 people
• By 2030: 14,521 · -4.0%
• By 2040: 13,503 · -10.7%
• By 2050: 12,671 · -16.2%
• By 2075: 10,857 · -28.2%
• By 2100: 8,344 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Dixie

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -25.4pp toward R · 2008: -45.0pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+66.0 2016: R+63.2 2012: R+46.9 2008: R+45.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.22%
• Current HPI: 424.0037
• 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

+218.0% since first listed

3 events — show timeline

• 2026-04-27 Listed $159,000 DGLMLS
• 2022-06-28 Listed $119,000 DGLMLS
• 2008-10-07 Sold (Public Records) $50,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $524 · +4.4% YoY. Source: county tax records.