1549 NE 642nd St · Fanning Springs, FL 32680

$259,000

3 bd · 2.0 ba · 1,430 sqft · Manufactured public records · 250 Days on market

Built 2005 2.70 ac lot Est $193k · 34% over

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Why this score? — see what drove the F 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 +7.8/30.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

This roomy 3/2 home on a cleared 2.7 acres is in a secluded area and peaceful! Comes furnished, has a new roof, a fireplace, and the washer/dryer comes with the home! 2 Sheds and a large cement slab next to the home. A screened-in front AND back porch to enjoy your coffee in the morning and cocktails in the evening! With 2.7 acres, there's plenty of room for your animals! Just a few miles off US 19, you'll be very close to shopping and restaurants!

Key facts

• 2 sheds
• Cement slab
• New roof

Tags

• NEW ROOF
• FIREPLACE
• 2 SHEDS
• CEMENT SLAB
• SCREENED-IN FRONT PORCH
• SCREENED-IN BACK PORCH

Property features AI

Finance

• Other: Property type: Residential; Total acreage: approximately 2.7 acres (cleared, in county); Number of wells: 1; Number of septics: 1
• HOA & community: No HOA

Exterior

• Parking: No specific parking information provided
• Utilities: Well water; Septic tank; Cable connected; Electricity connected
• Home design: Manufactured home (double wide); One story; Faces southwest; Completed condition; Homestead property
• Construction: Vinyl siding and frame construction; Shingle roof; Crawlspace foundation; Built as a double wide manufactured home
• Exterior features: Storage; Cleared, level lot; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator; Solid wood cabinets
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: High ceilings; Living room / dining room combo; Solid wood cabinets; Split bedroom layout; Walk-in closet(s); Wood-burning fireplace
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $259k.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (38.9% below list).
• Recommended offer: $158k (38.9% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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, amenities F, commute 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.
• Zoned schools: Old Town Elementary School (math 73% / reading 58%, grade B+, #500 of 2,144 statewide, top 24%, 456 students, 80% FRL); Ruth Rains Middle School (math 48% / reading 49%, grade C-, #274 of 571 statewide, top 50%, 431 students, 76% FRL); Dixie County High School (math 31% / reading 42%, grade F, #351 of 667 statewide, top 54%, 714 students, 70% FRL).
• Market conditions: 263 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 $28k of equity ($2k loan paydown + $26k 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.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $158,300 (38.9% 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 250 days. Have you received any prior offers? Is the seller open to a 39% 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. 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?
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: 0.61% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.77%
• DSCR: 0.79
• GRM: 13.6

CMA / ARV

• ARV (on-the-fly): $193,050
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1223 NE 642nd St	0.29mi	3/2.0	1,510 (+6%)	16mo	$55,000	$36	64
1307 NE 642nd St	0.24mi	3/2.0	1,568 (+10%)	14mo	$212,000	$135	61

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: 20.9%
• Equity multiple: 2.69×
• Total profit: $122,555
• Equity at exit: $233,328

10-year hold

• IRR: 18.9%
• Equity multiple: 6.17×
• Total profit: $375,094
• Equity at exit: $503,180

Cash invested: $72,520 (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: 263
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,583 medium
• Mortgage (P&I): −$1,358
• Tax from tax record: −$73 /mo · $875/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-288

Break-even live

Break-even rent $1,948

Max offer price $208,040

Occupancy floor —

Sensitivity live

Price	-10% $-142	-5% $-215	+0% $-288	+5% $-362	+10% $-435
Rent	-10% $-414	-5% $-351	+0% $-288	+5% $-226	+10% $-163
Rate	-1.0pp $-158	-0.5pp $-223	base $-288	+0.5pp $-356	+1.0pp $-424

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $259,000 Active 250 DOM
2. 2026-06-21
   days on market $259,000 Active 249 DOM
3. 2026-06-21
   days on market $259,000 Active 248 DOM
4. 2026-06-18
   days on market $259,000 Active 246 DOM
5. 2026-06-17
   days on market $259,000 Active 245 DOM
6. 2026-06-16
   days on market $259,000 Active 244 DOM
7. 2026-06-15
   days on market $259,000 Active 243 DOM
8. 2026-06-13
   days on market $259,000 Active 241 DOM
9. 2026-06-12
   days on market $259,000 Active 240 DOM
10. 2026-06-09
    days on market $259,000 Active 237 DOM
11. 2026-06-08
    days on market $259,000 Active 236 DOM
12. 2026-06-07
    days on market $259,000 Active 235 DOM
13. 2026-06-07
    days on market $259,000 Active 234 DOM
14. 2026-06-04
    days on market $259,000 Active 231 DOM
15. 2026-06-02
    days on market $259,000 Active 230 DOM
16. 2026-06-01
    days on market $259,000 Active 229 DOM
17. 2026-05-31
    days on market $259,000 Active 228 DOM
18. 2026-05-31
    days on market $259,000 Active 227 DOM
19. 2025-10-15
    listed $259,000 Active
20. 2025-10-14
    listed $259,000 Active 452-char remark

    Show marketing remark (452 chars)

    This roomy 3/2 home on a cleared 2.7 acres is in a secluded area and peaceful! Comes furnished, has a new roof, a fireplace, and the washer/dryer comes with the home! 2 Sheds and a large cement slab next to the home. A screened-in front AND back porch to enjoy your coffee in the morning and cocktails in the evening! With 2.7 acres, there's plenty of room for your animals! Just a few miles off US 19, you'll be very close to shopping and restaurants!

21. 2025-10-13
    listed $259,000 Active 474-char remark

    Show marketing remark (474 chars)

    This roomy 3/2 home on a cleared 2.7 acres is in a secluded area and peaceful! Comes furnished, has a NEW ROOF, a fireplace, and the washer/dryer comes with the home! 2 Sheds and a large cement slab for car/RV parking next to the home. A screened-in front AND back porch to enjoy your coffee in the morning and cocktails in the evening! With 2.7 acres, there's plenty of room for your animals! Just a few miles off US 19, you'll be very close to shopping and restaurants!

ⓘ 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: $875 · $73/mo
• Projected year-2 tax: $2,150 · $179/mo
• Expected delta: +$1,275/yr (+$106/mo · 145.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% 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: $18,996
• − Mortgage interest: −$14,508
• − Property taxes: −$875
• − Insurance: −$1,295
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$7,535
• Taxable loss: −$8,256
• Est. tax savings @ 24.0%: +$1,981
• After-tax cash flow: $-1,480/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

+0.0% since first listed

3 events — show timeline

• 2025-10-15 Listed $259,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-14 Listed $259,000 DGLMLS
• 2025-10-13 Listed $259,000 HCAR

Property tax history

+2.2%/yr

Latest (2025): $875 · +1.9% YoY. Source: county tax records.