3294 Highway 277 · Vernon, FL 32462

$260,000

3 bd · 2.0 ba · 2,052 sqft · Manufactured public records · 33 Days on market

Built 1996 0.56 ac lot

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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).

• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Appreciation +6.1/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +0.9/10.0

Listing remarks MLS

PRICE REDUCED! Large manufactured home with lots of room! Comes with 4 bedrooms, 2 baths, a large den with fireplace and a formal living room. It features a split bedroom design with a nice sitting room beside the master bedroom. There is a covered screened back porch that overlooks the back yard where you have room for a small garden. It is just a short drive into Vernon and also a short drive down to Panama City on the coast where you have some of the world's most beautiful beaches. This is a great investment propety! You will be surprised when you see the inside of this home.

Key facts

• Attached bonus space
• Generous kitchen
• Tiled walk-in shower

Tags

• LARGE OPEN LIVING AREA
• GENEROUS KITCHEN
• FLEXIBLE SPLIT-BEDROOM LAYOUT
• OVERSIZED PRIMARY SUITE
• TILED WALK-IN SHOWER
• ATTACHED BONUS SPACE

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Electricity available
• Home design: Double-wide mobile home
• Construction: Vinyl siding; Metal roof
• Exterior features: Covered porch; Paved lot; Highway frontage

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: Three bedrooms on the first level (approx. 15 x 10, 15 x 10, and 15 x 15)
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Fireplace heating; Ceiling fans for cooling
• Interior features: Fireplace
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $-359 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (40.6% below list).
• Recommended offer: $155k (40.6% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.2% in Vernon — 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 59/100 on livability (#834 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Washington (rural): math 49% / reading 50% proficiency, ranked #45 of 73 in FL (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kate M. Smith Elementary School (math 58% / reading 60%, grade B-, #722 of 2,144 statewide, top 34%, 941 students, 61% FRL); Roulhac Middle School (math 61% / reading 53%, grade B, #164 of 571 statewide, top 30%, 440 students, 54% FRL); Chipley High School (math 35% / reading 50%, grade F, #264 of 667 statewide, top 41%, 588 students, 46% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 47 active listings in the ZIP; 217 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.2% local appreciation)).
• Washington County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $260k implies a 845% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,509 (40.6% 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 33 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.59% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• GRM: 14.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,946
• Equity at exit: $105,954

10-year hold

• IRR: 3.7%
• Equity multiple: 1.52×
• Total profit: $38,215
• Equity at exit: $155,235

Cash invested: $72,800 (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 32462

• Home prices YoY: 1.0%
• Active inventory: 47
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$108 /mo · $1,293/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-359

Break-even live

Break-even rent $1,999

Max offer price $196,593

Occupancy floor —

Sensitivity live

Price	-10% $-212	-5% $-285	+0% $-359	+5% $-433	+10% $-506
Rent	-10% $-481	-5% $-420	+0% $-359	+5% $-298	+10% $-237
Rate	-1.0pp $-228	-0.5pp $-293	base $-359	+0.5pp $-426	+1.0pp $-495

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $260,000 Active 33 DOM
2. 2026-06-21
   days on market $260,000 Active 32 DOM
3. 2026-06-21
   days on market $260,000 Active 31 DOM
4. 2026-06-18
   days on market $260,000 Active 29 DOM
5. 2026-06-17
   days on market $260,000 Active 28 DOM
6. 2026-06-16
   days on market $260,000 Active 27 DOM
7. 2026-06-15
   days on market $260,000 Active 26 DOM
8. 2026-06-13
   days on market $260,000 Active 24 DOM
9. 2026-06-12
   days on market $260,000 Active 23 DOM
10. 2026-06-09
    pricedays on market $260,000 Active 20 DOM
11. 2026-06-08
    days on market $280,000 Active 19 DOM
12. 2026-06-07
    days on market $280,000 Active 18 DOM
13. 2026-06-07
    days on market $280,000 Active 17 DOM
14. 2026-06-04
    days on market $280,000 Active 14 DOM
15. 2026-06-02
    days on market $280,000 Active 13 DOM
16. 2026-06-01
    days on market $280,000 Active 12 DOM
17. 2026-05-31
    days on market $280,000 Active 11 DOM
18. 2026-05-31
    days on market $280,000 Active 10 DOM
19. 2026-05-19
    listed $280,000 Active
20. 2021-12-09
    historical
21. 2016-05-19
    soldstatus $27,500 588-char remark

    Show marketing remark (588 chars)

    PRICE REDUCED! Large manufactured home with lots of room! Comes with 4 bedrooms, 2 baths, a large den with fireplace and a formal living room. It features a split bedroom design with a nice sitting room beside the master bedroom. There is a covered screened back porch that overlooks the back yard where you have room for a small garden. It is just a short drive into Vernon and also a short drive down to Panama City on the coast where you have some of the world's most beautiful beaches. This is a great investment propety! You will be surprised when you see the inside of this home.

22. 2015-11-17
    listed $27,500 588-char remark

    Show marketing remark (588 chars)

    PRICE REDUCED! Large manufactured home with lots of room! Comes with 4 bedrooms, 2 baths, a large den with fireplace and a formal living room. It features a split bedroom design with a nice sitting room beside the master bedroom. There is a covered screened back porch that overlooks the back yard where you have room for a small garden. It is just a short drive into Vernon and also a short drive down to Panama City on the coast where you have some of the world's most beautiful beaches. This is a great investment propety! You will be surprised when you see the inside of this home.

23. 2006-10-23
    listed $99,900

ⓘ 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: $1,293 · $108/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$865/yr (+$72/mo · 66.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,541
• − Mortgage interest: −$14,564
• − Property taxes: −$1,293
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$7,564
• Taxable loss: −$9,146
• Est. tax savings @ 24.0%: +$2,195
• After-tax cash flow: $-2,112/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: Washington
• NCES district ID: 1202010
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $36,948
• Composite: 41.12/100
• National rank: #3561
• State rank: #45 of 73 in FL

Livability — Vernon

• Score: 59/100
• State rank: #834
• US rank: #20536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,452

Population outlook (Washington County) Hauer SSP2

• Today (2025): 24,087 people
• By 2030: 23,600 · -2.0%
• By 2040: 22,643 · -6.0%
• By 2050: 21,524 · -10.6%
• By 2075: 18,432 · -23.5%
• By 2100: 13,298 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Two or more races 8% Native American 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Greek 2% Slovak 1% Lithuanian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+65.4) · D 17.0% · R 82.4%
• 2008→2024 swing: -17.7pp toward R · 2008: -47.8pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+61.1 2016: R+57.1 2012: R+47.4 2008: R+47.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.24%
• Current HPI: 221.7113
• 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

+160.3% since first listed

6 events — show timeline

• 2026-06-09 Price Changed $260,000 CPARMLS
• 2026-05-19 Listed $280,000 CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2016-05-19 Sold (MLS) $27,500 CPARMLS
• 2015-11-17 Listed $27,500 CPARMLS
• 2006-10-23 Listed $99,900 CPARMLS

Property tax history

+5.7%/yr

Latest (2025): $1,293 · +23.9% YoY. Source: county tax records.