117 Bumpy Ln · Palatka, FL 32177

$165,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 72 Days on market

Built 1993 1.02 ac lot

---

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).

• Cash flow +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +3.6/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your private slice of country living! Built in 1993, this 2-bedroom, 2-bath offers comforts of living & is a fully fenced 1-acre lot, perfect for those seeking peace, privacy, and room to spread out. Enjoy quiet mornings and relaxing evenings on the new oversized covered front porch, ideal for coffee at sunrise or sunsets in the evening. The property features private animal kennels, making it a great fit for hobby farmers or anyone who loves the rural lifestyle. Inside, the home has been partially updated with a beautifully renovated luxury bathroom and an updated guest bedroom. The remaining areas offer the opportunity to add your personal touch, with just a small amount o

Key facts

• 1.02 acre lot
• Built 1993
• Listed 71 days

Property features AI

Exterior

• Parking: Other parking
• Utilities: Septic tank; Electricity connected; Sewer connected; Water connected
• Home design: Double-wide manufactured home; Single-story
• Construction: Metal roof
• Exterior features: Covered front and rear porches; Full yard fencing; Agricultural lot use

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Primary bathroom with tub and shower; Split bedroom layout; Electric fireplace (1)
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $33 ($399/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 $141k (14.3% below list).
• Recommended offer: $141k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Palatka — 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 58/100 on livability (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D, amenities F.
• Putnam (town): math 34% / reading 39% proficiency, ranked #66 of 73 in FL (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kelley Smith Elementary School (math 58% / reading 57%, grade C+, #764 of 2,144 statewide, top 36%, 753 students, 54% FRL); Putnam Academy of Arts And Sciences (math 42% / reading 52%, grade D+, #291 of 571 statewide, top 52%, 177 students, 75% FRL, charter); Palatka Jr - Sr High School (math 13% / reading 30%, grade F, #546 of 667 statewide, top 82%, 1,639 students, 64% FRL).
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $8k; list at $165k implies a 1962% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,449 (14.3% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.86% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-25,720
• Equity at exit: $24,602

10-year hold

• IRR: -8.7%
• Equity multiple: 0.48×
• Total profit: $-24,118
• Equity at exit: $14,266

Cash invested: $46,200 (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 32177

• Home prices YoY: -28.1%
• Rents YoY: 2.2%
• Active inventory: 319
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,414 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$150 /mo · $1,802/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $33

Break-even live

Break-even rent $1,372

Max offer price $165,000

Occupancy floor 93%

Sensitivity live

Price	-10% $127	-5% $80	+0% $33	+5% $-13	+10% $-60
Rent	-10% $-78	-5% $-23	+0% $33	+5% $89	+10% $145
Rate	-1.0pp $116	-0.5pp $75	base $33	+0.5pp $-10	+1.0pp $-53

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $165,000 Active 72 DOM
2. 2026-06-18
   days on market $165,000 Active 69 DOM
3. 2026-06-17
   days on market $165,000 Active 68 DOM
4. 2026-06-16
   days on market $165,000 Active 67 DOM
5. 2026-06-15
   days on market $165,000 Active 66 DOM
6. 2026-06-13
   days on market $165,000 Active 64 DOM
7. 2026-06-10
   price $165,000 Active 60 DOM
8. 2026-06-09
   days on market $170,000 Active 60 DOM
9. 2026-06-08
   days on market $170,000 Active 59 DOM
10. 2026-06-07
    days on market $170,000 Active 58 DOM
11. 2026-06-05
    days on market $170,000 Active 55 DOM
12. 2026-06-03
    days on market $170,000 Active 54 DOM
13. 2026-06-02
    days on market $170,000 Active 53 DOM
14. 2026-06-01
    days on market $170,000 Active 52 DOM
15. 2026-05-31
    days on market $170,000 Active 51 DOM
16. 2026-04-21
    status Active
17. 2026-04-17
    status Pending
18. 2026-04-07
    listed $170,000 Active
19. 1998-02-18
    soldstatus $8,000

ⓘ 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: $1,802 · $150/mo
• Projected year-2 tax: $1,802 · $150/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,974
• − Mortgage interest: −$9,243
• − Property taxes: −$1,802
• − Insurance: −$825
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$4,800
• Taxable loss: −$2,412
• Est. tax savings @ 24.0%: +$579
• After-tax cash flow: $978/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: Putnam
• NCES district ID: 1201620
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $33,350
• Composite: 29.99/100
• National rank: #6361
• State rank: #66 of 73 in FL

Livability — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 25,645 people
• City population: 25,645
• Metro: Palatka, FL
• Population (ZIP): 25,645
• Household income: $47,796
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 806.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 65,299 people
• By 2030: 61,255 · -6.2%
• By 2040: 52,930 · -18.9%
• By 2050: 45,051 · -31.0%
• By 2075: 28,720 · -56.0%
• By 2100: 15,852 · -75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 2% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -19.3pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+41.2 2016: R+36.6 2012: R+24.5 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.10%
• Current HPI: 223.1966
• Rent YoY: ▲ 2.23%
• Metro: Palatka, FL
• 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

+2025.0% since first listed

4 events — show timeline

• 2026-04-21 Relisted — realMLS
• 2026-04-17 Pending — realMLS
• 2026-04-07 Listed $170,000 realMLS
• 1998-02-18 Sold (Public Records) $8,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,802 · +8.1% YoY. Source: county tax records.