205 Susan St · Interlachen, FL 32148

$65,000

2 bd · 1.0 ba · 644 sqft · Manufactured public records · 267 Days on market

Built 1981 0.28 ac lot Est $112k · 42% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This cozy mobile home is the perfect getaway, offering peaceful lakefront living with stunning views. Step outside onto the screened porch and take in the serene surroundings. You can start your mornings with a breathtaking sunrise over the water, and end your evenings watching the sky blaze with color as the sun sets. The property is fully fenced, creating a private and secure space for you to relax and enjoy the quiet atmosphere. With direct lake frontage, just walk out of your back door and enjoy swimming, fishing, or simply dipping your toes in the water. This home is a tranquil retreat where you can truly unwind and connect with nature. CASH ONLY, NO RENT TO OWN, NO OWNER FINANCING

Key facts

• Lakefront living
• Fully fenced
• Screened porch

Tags

• LAKEFRONT LIVING
• SCREENED PORCH
• FULLY FENCED
• DIRECT LAKE FRONTAGE

Property features AI

Finance

• Other: On-lake property with lake view and lake access (Lake Virginia); Lot roughly 0.28 acres (approx. 75 x 164) with dirt road access

Exterior

• Utilities: Private well water; Septic tank; Electricity connected; Water connected
• Home design: Residential single-wide mobile home; One story; Home faces south
• Construction: Vinyl siding; Metal roof; Crawlspace foundation with pillar/post/pier
• Exterior features: Covered rear porch; Screened porch; Awnings; Exterior lighting

Interior

• Kitchen: Cooktop; Exhaust fan; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Cooling: Other
• Interior features: Ceiling fans; Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 5.1% in Interlachen — 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 67/100 on livability (#540 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute 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.
• Market conditions: 760 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 267 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $65k implies a 496% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.92% ✓
• Cap rate: 15.92%
• Cash-on-cash: 34.37%
• DSCR: 2.53
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $112,056
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Guy Ave	0.72mi	2/1.5	728 (+13%)	19mo	$126,500	$174	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 20.0%
• Equity multiple: 1.81×
• Total profit: $14,802
• Equity at exit: $9,692

10-year hold

• IRR: 28.3%
• Equity multiple: 3.52×
• Total profit: $45,806
• Equity at exit: $5,620

Cash invested: $18,200 (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 32148

• Home prices YoY: -5.8%
• Active inventory: 760
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$27
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $396

Break-even live

Break-even rent $749

Max offer price $65,000

Occupancy floor 63%

Sensitivity live

Price	-10% $433	-5% $415	+0% $396	+5% $378	+10% $359
Rent	-10% $297	-5% $347	+0% $396	+5% $445	+10% $495
Rate	-1.0pp $429	-0.5pp $413	base $396	+0.5pp $379	+1.0pp $362

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Hayman Dr Interlachen, FL	2.0	1.0	598	$1,250	$2.09	24d	1	1.29mi
125 Hayman Dr Interlachen, FL	2.0	1.0	642	$1,250	$1.95	24d	1	1.30mi

Listing history 20 events

1. 2026-06-21
   days on market $65,000 Active 267 DOM
2. 2026-06-18
   days on market $65,000 Active 264 DOM
3. 2026-06-17
   days on market $65,000 Active 263 DOM
4. 2026-06-16
   days on market $65,000 Active 262 DOM
5. 2026-06-15
   days on market $65,000 Active 261 DOM
6. 2026-06-13
   days on market $65,000 Active 259 DOM
7. 2026-06-10
   days on market $65,000 Active 255 DOM
8. 2026-06-08
   days on market $65,000 Active 254 DOM
9. 2026-06-07
   days on market $65,000 Active 253 DOM
10. 2026-06-05
    days on market $65,000 Active 250 DOM
11. 2026-06-03
    days on market $65,000 Active 249 DOM
12. 2026-06-02
    days on market $65,000 Active 248 DOM
13. 2026-06-01
    days on market $65,000 Active 247 DOM
14. 2026-05-31
    days on market $65,000 Active 246 DOM
15. 2026-05-14
    status Pending
16. 2026-04-15
    status Active
17. 2026-04-06
    status Pending
18. 2026-01-20
    price $75,000
19. 2025-09-03
    listed $99,900 Active
20. 1997-09-19
    soldstatus $10,900

ⓘ 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: $1,179 · $98/mo
• Projected year-2 tax: $1,179 · $98/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$3,641
• − Property taxes: −$1,179
• − Insurance: −$1,828
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,891
• Taxable income: $4,062
• Est. tax owed @ 24.0%: −$975
• After-tax cash flow: $3,778/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 — Interlachen

• Score: 67/100
• State rank: #540
• US rank: #10162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,580
• Population (ZIP): 11,580

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: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7%
• Common ancestry: Slovak 4% Lithuanian 3% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -16.98%
• Current HPI: 277.2763
• 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

+588.1% since first listed

6 events — show timeline

• 2026-05-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $75,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-03 Listed $99,900 Stellar MLS as Distributed by MLS Grid
• 1997-09-19 Sold (Public Records) $10,900 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,179 · +13.2% YoY. Source: county tax records.