4 Sommer Rd

Crawfordville, FL 32327

$159,000B

3 bd · 2.0 ba · 1,216 sqft · Built 1996 · Manufactured · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,720/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $419/mo
• Annual: $5,030/yr
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• 1% rule: 1.08%
• Cash to close: $44,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $159k.
• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 77/100 on livability (#187 in FL, #2,943 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.2%/yr); 346 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).
• Current owner paid $9k; list at $159k implies a 1647% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.
• 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.
• Cap rate 9.5% vs local median 4.3% in Crawfordville — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.