1450 Almond St · Bunnell, FL 32110

$110,000

2 bd · 2.0 ba · 1,624 sqft · Manufactured public records · 16 Days on market

Built 1988 1.14 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is a nice 165' x 300' corner lot located near the park. The 1988 Double wide mobile home is listed as savage value on the property appraiser web site, This property is being sold for land value the mobile home has little to no value. Years ago the roof over the master bedroom caught on fire from a flying amber from the fireplace and has never been repaired, the kitchen has been gutted, and the roof leaks. A family member does stay in the home and would need at least 30 to vacate.

Key facts

• Metal roof
• Conservation buffer
• Corner lot

Tags

• CORNER LOT
• CONSERVATION BUFFER
• METAL ROOF
• NEWER HOT WATER HEATER
• NEWER HVAC AIR HANDLER
• LARGE TWO VEHICLE CARPORT

Property features AI

Finance

• Other: Lot is a cleared corner lot in county with mature landscaping and trees; Lot accessed via dirt road; Approximately 1.14 acres (1 to less than 2 acres)
• HOA & community: No homeowners association; Pets allowed; Located in the Daytona North development

Exterior

• Parking: Covered driveway parking; Guest parking; Tandem parking; 2-space carport
• Utilities: Private well water; Private sewer (septic tank); Electricity connected; Water connected
• Home design: Manufactured single-wide home; One story; Faces east
• Construction: Wood siding construction; Metal roof; Crawlspace foundation; Built on one level
• Exterior features: Covered side porch; Covered patio; Fire pit; Outdoor lighting; Private mailbox

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: High ceilings; Sliding doors
• Laundry & utility: No laundry room (none listed)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.5% in Bunnell — 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 71/100 on livability (#378 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Flagler (rural): math 53% / reading 56% proficiency, ranked #20 of 73 in FL (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bunnell Elementary School (math 42% / reading 44%, grade F, #1,366 of 2,144 statewide, top 64%, 1,080 students, 73% FRL); Flagler-Palm Coast High School (math 36% / reading 51%, grade F, #248 of 667 statewide, top 38%, 2,523 students, 52% FRL).
• Market conditions: 277 active listings in the ZIP; 2,588 units permitted in Flagler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Flagler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago 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 $20k; list at $110k implies a 450% 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; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.45% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.40%
• DSCR: 1.91
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $280,952
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1450 Almond St	0.00mi	2/1.0	1,624 (0%)	1mo	$130,000	$80	96
1537 Bayberry St	0.27mi	3/2.0 (+1)	1,620 (-0%)	2mo	$280,000	$173	80
1081 Avocado Blvd	0.52mi	3/2.0 (+1)	1,456 (-10%)	10mo	$305,000	$209	45
1572 Lemon St	0.64mi	3/2.0 (+1)	1,404 (-14%)	14mo	$229,900	$164	31

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $15,536
• Equity at exit: $16,401

10-year hold

• IRR: 21.6%
• Equity multiple: 2.83×
• Total profit: $56,514
• Equity at exit: $9,511

Cash invested: $30,800 (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 32110

• Home prices YoY: -22.4%
• Active inventory: 277
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $524

Break-even live

Break-even rent $934

Max offer price $110,000

Occupancy floor 62%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-21
   status Pending
2. 2026-05-05
   listed $110,000 Active
3. 2016-08-05
   soldstatus $20,000 498-char remark

   Show marketing remark (498 chars)

   This property is a nice 165' x 300' corner lot located near the park. The 1988 Double wide mobile home is listed as savage value on the property appraiser web site, This property is being sold for land value the mobile home has little to no value. Years ago the roof over the master bedroom caught on fire from a flying amber from the fireplace and has never been repaired, the kitchen has been gutted, and the roof leaks. A family member does stay in the home and would need at least 30 to vacate.

4. 2016-06-08
   listed $27,900 498-char remark

   Show marketing remark (498 chars)

   This property is a nice 165' x 300' corner lot located near the park. The 1988 Double wide mobile home is listed as savage value on the property appraiser web site, This property is being sold for land value the mobile home has little to no value. Years ago the roof over the master bedroom caught on fire from a flying amber from the fireplace and has never been repaired, the kitchen has been gutted, and the roof leaks. A family member does stay in the home and would need at least 30 to vacate.

5. 1988-04-01
   soldstatus $7,200
6. 1983-03-01
   soldstatus $6,000

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,382 · $115/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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: $19,161
• − Mortgage interest: −$6,162
• − Property taxes: −$1,382
• − Insurance: −$550
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$3,200
• Taxable income: $4,802
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $5,131/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: Flagler
• NCES district ID: 1200540
• Math proficiency: 53% ▼ -9.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $48,354
• Composite: 46.35/100
• National rank: #2464
• State rank: #20 of 73 in FL

Livability — Bunnell

• Score: 71/100
• State rank: #378
• US rank: #6714

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,877

Population outlook (Flagler County) Hauer SSP2

• Today (2025): 123,474 people
• By 2030: 131,864 · +6.8%
• By 2040: 146,176 · +18.4%
• By 2050: 157,398 · +27.5%
• By 2075: 177,990 · +44.2%
• By 2100: 183,381 · +48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Flagler

• 2024 margin: Strong R (+28.2) · D 35.6% · R 63.8%
• 2008→2024 swing: -29.8pp toward R · 2008: 1.6pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+20.8 2016: R+20.6 2012: R+7.4 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.28%
• Current HPI: 271.446
• 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

+1733.3% since first listed

6 events — show timeline

• 2026-05-21 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2016-08-05 Sold (MLS) $20,000 Stellar MLS as Distributed by MLS Grid
• 2016-06-08 Listed $27,900 Stellar MLS as Distributed by MLS Grid
• 1988-04-01 Sold (Public Records) $7,200 Public Records
• 1983-03-01 Sold (Public Records) $6,000 Public Records

Property tax history

+17.5%/yr

Latest (2025): $1,382 · +3.6% YoY. Source: county tax records.