3394 228th Ter · Branford, FL 32024

$299,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 4 Days on market

Built 2014 10 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 +12.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Offering tremendous potential, this versatile 10-acre property in Suwannee County is ready for its next chapter. Fully fenced and cross-fenced with irrigation throughout the entire acreage, this property is ideal for horses, livestock, homesteading, hobby farming, or simply enjoying the privacy and space of rural living. The property features a 3-bedroom, 2-bath mobile home plus a separate 1-bedroom studio apartment with attached workshop, offering potential for guests, extended family, rental income, or a home-based business. Equestrian enthusiasts will appreciate the horse stalls, tack house, and pasture space. Additional improvements include multiple outbuildings for equipment and storag

Key facts

• Irrigation
• 10 acre property
• Fully fenced

Tags

• 10 ACRE PROPERTY
• FULLY FENCED
• CROSS FENCED
• IRRIGATION
• MOBILE HOME
• STUDIO APARTMENT

Property features AI

Exterior

• Parking: Detached garage with garage door opener
• Utilities: Private well water
• Home design: Manufactured home; Single-story
• Construction: Frame construction; Shingle roof
• Exterior features: Deck; Shed(s); Workshop; 10-acre lot; A1 zoning

Interior

• Kitchen: Dishwasher; Refrigerator; Gas cooktop; Microwave
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Insulated windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $299k.

Deal economics

• At list price, monthly cash flow is $-29 ($-342/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (19.7% below list).
• Recommended offer: $240k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.7% in Branford — 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 62/100 on livability (#748 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools C-, crime D, amenities F.
• Suwannee (town): math 45% / reading 44% proficiency, ranked #52 of 73 in FL (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 206 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 138 units permitted in Suwannee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000 (19.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $160,704
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22495 35th Dr	0.54mi	3/2.0	1,248 (-4%)	8mo	$155,000	$124	62

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: 24.0%
• Equity multiple: 2.92×
• Total profit: $160,975
• Equity at exit: $269,363

10-year hold

• IRR: 21.3%
• Equity multiple: 6.68×
• Total profit: $475,374
• Equity at exit: $580,891

Cash invested: $83,720 (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 32024

• Home prices YoY: 7.6%
• Active inventory: 206
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$232 /mo · $2,783/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $-29

Break-even live

Break-even rent $2,436

Max offer price $293,961

Occupancy floor 96%

Sensitivity live

Price	-10% $141	-5% $56	+0% $-29	+5% $-113	+10% $-198
Rent	-10% $-218	-5% $-123	+0% $-29	+5% $66	+10% $161
Rate	-1.0pp $122	-0.5pp $48	base $-29	+0.5pp $-106	+1.0pp $-185

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22832 45th Dr Lake City, FL	3.0	2.0	1650	$2,400	$1.45	14d	1	1.32mi

Listing history 5 events

1. 2026-06-19
   days on market $299,000 Active 4 DOM
2. 2026-06-18
   days on market $299,000 Active 3 DOM
3. 2026-06-17
   days on market $299,000 Active 2 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   listed $299,000 Active 1 DOM

ⓘ 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: $2,783 · $232/mo
• Projected year-2 tax: $2,783 · $232/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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$16,749
• − Property taxes: −$2,783
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$8,698
• Taxable loss: −$5,533
• Est. tax savings @ 24.0%: +$1,328
• After-tax cash flow: $986/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: Suwannee
• NCES district ID: 1201830
• Math proficiency: 45% ▼ -4.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $37,785
• Composite: 37.07/100
• National rank: #4503
• State rank: #52 of 73 in FL

Livability — Branford

• Score: 62/100
• State rank: #748
• US rank: #16225

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,644

Population outlook (Suwannee County) Hauer SSP2

• Today (2025): 45,226 people
• By 2030: 45,833 · +1.3%
• By 2040: 46,631 · +3.1%
• By 2050: 46,544 · +2.9%
• By 2075: 43,635 · -3.5%
• By 2100: 34,318 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Italian 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Suwannee

• 2024 margin: Solid R (+61.0) · D 19.3% · R 80.2%
• 2008→2024 swing: -17.8pp toward R · 2008: -43.1pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+56.6 2016: R+55.3 2012: R+45.0 2008: R+43.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.05%
• Current HPI: 269.4659
• 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

1 event — show timeline

• 2026-06-15 Listed $299,000 NFMLS

Property tax history

+14.7%/yr

Latest (2025): $2,783 · +9.3% YoY. Source: county tax records.