203 Quail Hollow Rd · Palatka, FL 32189

$69,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 34 Days on market

Built 1999 10,018 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 2-bath mobile home located in a quiet rural residential setting with great investment potential. This fixer-upper offers a fantastic opportunity for investors, renovators, or buyers looking to add value with some updates and repairs. Spacious layout with plenty of potential to customize and make it your own. Conveniently situated on a peaceful lot while still within reach of local amenities. Sold as-is.

Key facts

• Peaceful lot
• Investment potential
• Spacious layout

Tags

• INVESTMENT POTENTIAL
• SPACIOUS LAYOUT
• PEACEFUL LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 3.8% in Palatka — 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 58/100 on livability (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, health & safety C-, crime D.
• 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: 185 active listings in the ZIP; 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 $483 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $70k implies a 599% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 1.67% ✓
• Cap rate: 14.67%
• Cash-on-cash: 29.90%
• DSCR: 2.33
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $175,680
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Squirrel Tree Trl	0.56mi	3/2.0	1,404 (-2%)	10mo	$225,000	$160	62
110 Mulberry St	0.71mi	3/2.0	1,400 (-3%)	8mo	$200,000	$143	56
403 Quail Hollow Rd	0.53mi	3/2.0	1,483 (+3%)	18mo	$168,000	$113	55
200 High Ridge Rd	0.60mi	3/2.0	1,510 (+5%)	12mo	$224,900	$149	54
212 Hoot Owl Rd	0.23mi	2/2.0 (-1)	1,256 (-13%)	15mo	$38,000	$30	50
364 Hoot Owl Rd	0.46mi	3/2.0	1,288 (-11%)	14mo	$157,400	$122	49
234 Deer Run Rd	0.56mi	2/2.0 (-1)	1,584 (+10%)	14mo	$160,000	$101	41

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: 24.4%
• Equity multiple: 2.01×
• Total profit: $19,724
• Equity at exit: $10,422

10-year hold

• IRR: 32.3%
• Equity multiple: 3.92×
• Total profit: $57,123
• Equity at exit: $6,044

Cash invested: $19,572 (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 32189

• Home prices YoY: -5.4%
• Active inventory: 185
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $488

Break-even live

Break-even rent $550

Max offer price $69,900

Occupancy floor 53%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-16
   status Pending
2. 2026-03-13
   listed $69,900 Active
3. 1999-04-13
   soldstatus $10,000

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $580 · $48/mo
• Expected delta: +$116/yr (+$10/mo · 25.0%)

ⓘ 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 5/10 Major
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,006
• − Mortgage interest: −$3,915
• − Property taxes: −$464
• − Insurance: −$350
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$2,033
• Taxable income: $5,003
• Est. tax owed @ 24.0%: −$1,201
• After-tax cash flow: $4,652/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 — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 25,645
• Population (ZIP): 5,527

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Cuban 4%
• Common ancestry: Slovak 5% Iranian 2% European 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 8%

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: ▼ -14.80%
• Current HPI: 257.2822
• 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

+599.0% since first listed

3 events — show timeline

• 2026-04-16 Pending — realMLS
• 2026-03-13 Listed $69,900 realMLS
• 1999-04-13 Sold (Public Records) $10,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $464 · +18.1% YoY. Source: county tax records.