14902 NE 142nd St

Waldo, FL 32694

$198,000C

3 bd · 2.0 ba · 1,527 sqft · Built 1992 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,930/mo
• Mortgage (P&I): −$1,038
• Tax + insurance: −$314
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $172/mo
• Annual: $2,064/yr
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• 1% rule: 0.97%
• Cash to close: $55,440

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $198k.
• At list price, monthly cash flow is $172 ($2k/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 $193k (2.5% below list).
• It's been on market 31 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (3.0% below list) — sets the bar for market timing.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (8.0% local appreciation)).
• Location reads 63/100 on livability (#705 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime C-, amenities F, commute F.
• Alachua (urban): math 49% / reading 54% proficiency, ranked #30 of 73 in FL (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chester Shell Elementary School (math 27% / reading 27%, grade F, #1,969 of 2,144 statewide, top 94%, 355 students, 82% FRL) — zoned schools average 82% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 52% district-wide (-24 pts) — the specific schools serving this property underperform the Alachua average; the district grade overstates school quality for this exact location.
• Market conditions: 36 active listings in the ZIP; 1,774 units permitted in Alachua County in 2024 (984 in 5+ unit buildings).
• Alachua County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 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 $147k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $55k 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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?
• 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.