118 Bovona Pl · Hastings, FL 32177

$199,000

3 bd · 2.0 ba · 1,690 sqft · Manufactured public records · 353 Days on market

Built 1991 1.00 ac lot Est $193k · at est.

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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 +15.3/30.0
• ARV discount +6.0/15.0
• DSCR +4.7/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Want some privacy in the country? This spacious 3BR/2BA DWMH is on 1.13 +/- cleared acres is completely ch-link fenced. Home features large kitchen w/breakfast bar, separate dining area, large living area, vaulted ceilings & 17x13 family room overlooking the deck & above-ground pool. Recently replaced water well pump & approx. 4 year old a/c makes this home ready with security system & 4 out buildings.

Key facts

• Fenced property
• Walk-in shower
• Large pantry

Tags

• WALK-IN SHOWER
• LARGE PANTRY
• ENCLOSED FRONT PORCH
• FENCED PROPERTY
• DETACHED METAL BUILDING

Property features AI

Finance

• Other: Property currently used for agricultural and single-family/ manufactured home purposes; Private dirt road frontage; 1 acre lot (cleared)
• HOA & community: Not a senior community

Exterior

• Parking: Detached 2-car garage
• Utilities: Septic tank; Propane
• Home design: Double wide manufactured home; One-story
• Construction: Vinyl siding; Metal roof
• Exterior features: Fire pit; Fenced yard with chain link fence; Shed(s); Workshop

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and propane); Central air conditioning
• Interior features: Open floor plan; Primary bathroom with shower (no tub)
• Laundry & utility: In-unit washer hookup; In-unit electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $74 ($890/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (19.4% below list).
• Recommended offer: $160k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.7% in Hastings — 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 (#410 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment 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.
• Zoned schools: James A. Long Elementary School (math 37% / reading 37%, grade F, #1,609 of 2,144 statewide, top 77%, 552 students, 66% FRL); Putnam Academy of Arts And Sciences (math 42% / reading 52%, grade D+, #291 of 571 statewide, top 52%, 177 students, 75% FRL, charter); Palatka Jr - Sr High School (math 13% / reading 30%, grade F, #546 of 667 statewide, top 82%, 1,639 students, 64% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 353 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $68k; list at $199k implies a 193% 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; severe 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 $160,374 (19.4% below list)

Questions for the listing agent

1. It's been on market 353 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.60%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $192,660
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 W Harbor Dr	0.18mi	3/2.0	1,480 (-12%)	5mo	$75,000	$51	66
109 Harbor Farms Ct	0.22mi	3/2.0	1,539 (-9%)	19mo	$174,900	$114	60
124 Kimberly Ln	0.11mi	3/2.0	1,440 (-15%)	21mo	$70,000	$49	52
111 Sailfish Dr	0.71mi	3/2.0	1,475 (-13%)	9mo	$228,000	$155	38

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 · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-28,845
• Equity at exit: $29,672

10-year hold

• IRR: -7.1%
• Equity multiple: 0.56×
• Total profit: $-24,375
• Equity at exit: $17,206

Cash invested: $55,720 (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 32177

• Home prices YoY: -28.1%
• Rents YoY: 2.2%
• Active inventory: 319
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,604 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $74

Break-even live

Break-even rent $1,510

Max offer price $199,000

Occupancy floor 90%

Sensitivity live

Price	-10% $187	-5% $130	+0% $74	+5% $18	+10% $-38
Rent	-10% $-53	-5% $11	+0% $74	+5% $138	+10% $201
Rate	-1.0pp $174	-0.5pp $125	base $74	+0.5pp $23	+1.0pp $-30

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $199,000 Active 353 DOM
2. 2026-06-18
   days on market $199,000 Active 350 DOM
3. 2026-06-17
   days on market $199,000 Active 349 DOM
4. 2026-06-16
   days on market $199,000 Active 348 DOM
5. 2026-06-15
   days on market $199,000 Active 347 DOM
6. 2026-06-13
   days on market $199,000 Active 345 DOM
7. 2026-06-10
   days on market $199,000 Active 341 DOM
8. 2026-06-08
   days on market $199,000 Active 340 DOM
9. 2026-06-07
   days on market $199,000 Active 339 DOM
10. 2026-06-05
    days on market $199,000 Active 336 DOM
11. 2026-06-03
    days on market $199,000 Active 335 DOM
12. 2026-06-02
    days on market $199,000 Active 334 DOM
13. 2026-06-01
    days on market $199,000 Active 333 DOM
14. 2026-05-31
    days on market $199,000 Active 332 DOM
15. 2025-08-04
    price $199,000
16. 2025-07-03
    listed $205,700 Active
17. 2015-05-31
    historical 421-char remark

    Show marketing remark (421 chars)

    Want some privacy in the country? This spacious 3BR/2BA DWMH is on 1.13 +/- cleared acres is completely ch-link fenced. Home features large kitchen w/breakfast bar, separate dining area, large living area, vaulted ceilings & 17x13 family room overlooking the deck & above-ground pool. Recently replaced water well pump & approx. 4 year old a/c makes this home ready with security system & 4 out buildings.

18. 2013-06-15
    listed $58,900 Active 421-char remark

    Show marketing remark (421 chars)

    Want some privacy in the country? This spacious 3BR/2BA DWMH is on 1.13 +/- cleared acres is completely ch-link fenced. Home features large kitchen w/breakfast bar, separate dining area, large living area, vaulted ceilings & 17x13 family room overlooking the deck & above-ground pool. Recently replaced water well pump & approx. 4 year old a/c makes this home ready with security system & 4 out buildings.

19. 2013-01-29
    listed $65,000 596-char remark

    Show marketing remark (596 chars)

    COUNTRY LIVING CLOSE TO PALATKA! CONVENIENTLY LOCATED JUST NORTH OF TOWN. THIS FENCED 3BR/2BA HOME OFFERS SPACIOUS LIVING ON 1.13 ACRES. HAS EAT-IN KITCHEN, LIVING ROOM, DINING ROOM,17'x 13' FAMILY ROOM & VAULTED CEILINGS. FLOORING REPLACED THROUGHOUT A FEW YRS AGO WITH 3/4'' PLYWOOD SUB-FLOORING. NEW WELL PUMP, & NEW AC 4 YRS OLD. HAS BEEN PAINTED, NEW WINDOW SILLS, CEILING FANS AND ALL APPLIANCES. 18' ABOVE GROUND POOL W/ DECKS ON THE FRONT & BACK. SECURITY SYSTEM, TWO SHEDS & FIRE PIT STAYS, ALSO TRAMPOLINE & SWING SET IF WANTED. FRENCH DRAINS INSTALLED IN 2005.

20. 2005-10-11
    historical
21. 2005-10-07
    soldstatus $67,900
22. 2005-10-04
    soldstatus $67,900
23. 2005-07-27
    listed $72,900

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$856/yr (+$71/mo · 107.6%)

ⓘ 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 8/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $19,245
• − Mortgage interest: −$11,147
• − Property taxes: −$796
• − Insurance: −$995
• − Repairs & maintenance: −$1,540
• − Management: −$1,540
• − Depreciation: −$5,789
• Taxable loss: −$2,561
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $1,505/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 — Hastings

• Score: 71/100
• State rank: #410
• US rank: #7309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Putnam County · 25,645 people
• Metro: Palatka, FL
• Population (ZIP): 25,645
• Household income: $47,796
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 806.0

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: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 2% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

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: ▼ -87.10%
• Current HPI: 223.1966
• Rent YoY: ▲ 2.23%
• Metro: Palatka, FL
• 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

+173.0% since first listed

9 events — show timeline

• 2025-08-04 Price Changed $199,000 realMLS
• 2025-07-03 Listed $205,700 realMLS
• 2015-05-31 Listing Removed — realMLS
• 2013-06-15 Listed $58,900 realMLS
• 2013-01-29 Listed $65,000 realMLS
• 2005-10-11 Listing Removed — realMLS
• 2005-10-07 Sold (Public Records) $67,900 Public Records
• 2005-10-04 Sold (MLS) $67,900 realMLS
• 2005-07-27 Listed $72,900 realMLS

Property tax history

-0.2%/yr

Latest (2025): $796 · +12.8% YoY. Source: county tax records.