133 Mullis Ave · Interlachen, FL 32148

$79,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 261 Days on market

Built 1989 0.57 ac lot Est $142k · 44% under · waterfront

---

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 MLS

LAKE VIRGINIA SINGLEWIDE MOBILE HOME ON A SMALL FISHING LAKE. ELECTRIC STOVE, REFRIGERATOR, AND ROLL AROUND DISHWASHER WILL STAY. THE MOBILE HAS CATHEDRAL CEILINGS, CENTRAL ELECTRIC HEAT AND WINDOW AIR. GREAT GETAWAY PLACE.

Key facts

• 0.57 acre lot
• Built 1989
• Listed 261 days

Property features AI

Finance

• Other: Located on a county (dirt) road
• HOA & community: Not a senior community

Exterior

• Parking: Off-street parking
• Utilities: Septic tank; Electricity connected; Water connected; Cable available
• Home design: Single wide mobile home; One story; North-facing; Lakefront property
• Construction: Manufactured/mobile home construction
• Exterior features: Dock; Fire pit; Deck; Shed(s); Wooded lot with many trees; Irregular lot shape; Split possible

Interior

• Kitchen: Electric cooktop; Electric oven; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Two bedrooms (both on the main level)
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: Five total rooms; Partially furnished
• Laundry & utility: Washer/dryer details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: amenities F, commute F, employment 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: Robert H. Jenkins Jr Elementary School (math 34% / reading 32%, grade F, #1,773 of 2,144 statewide, top 83%, 904 students, 64% FRL); Putnam Academy of Arts And Sciences (math 42% / reading 52%, grade D+, #291 of 571 statewide, top 52%, 177 students, 75% FRL, charter); Interlachen Jr-Sr High School (math 16% / reading 32%, grade F, #529 of 667 statewide, top 80%, 1,097 students, 71% FRL) — zoned schools at 70% FRL track the district average.
• 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 $546 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $81k (51%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $79k implies a 365% 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 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.58% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.15%
• DSCR: 1.99
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $141,523
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Sawyer St	1.25mi	2/1.0	672 (0%)	6mo	$100,000	$149	60
114 Ash St	1.48mi	2/1.0	672 (0%)	7mo	$105,000	$156	59
602 Junior Lake Dr	1.03mi	2/1.5	660 (-2%)	5mo	$38,050	$58	56
104 Osborne St	0.77mi	2/1.0	680 (+1%)	14mo	$26,500	$39	51
309 Evans Ave	1.33mi	2/1.0	660 (-2%)	15mo	$57,500	$87	50
104 Allman St	0.65mi	2/1.0	720 (+7%)	13mo	$130,000	$181	47
122 Arden Ave	1.21mi	3/3.0 (+1)	720 (+7%)	6mo	$120,000	$167	35
116 Guy Ave	0.89mi	2/1.5	728 (+8%)	19mo	$126,500	$174	34

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: 14.9%
• Equity multiple: 1.60×
• Total profit: $13,246
• Equity at exit: $11,779

10-year hold

• IRR: 23.7%
• Equity multiple: 3.04×
• Total profit: $45,184
• Equity at exit: $6,830

Cash invested: $22,120 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$132 /mo · $1,583/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $408

Break-even live

Break-even rent $733

Max offer price $79,000

Occupancy floor 62%

Sensitivity live

Price	-10% $453	-5% $431	+0% $408	+5% $386	+10% $364
Rent	-10% $310	-5% $359	+0% $408	+5% $458	+10% $507
Rate	-1.0pp $448	-0.5pp $428	base $408	+0.5pp $388	+1.0pp $367

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: $19,750
• Closing costs: $2,370
• 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	25d	1	1.38mi
125 Hayman Dr Interlachen, FL	2.0	1.0	642	$1,250	$1.95	25d	1	1.39mi

Listing history 22 events

1. 2026-05-04
   status Pending
2. 2026-04-08
   status Active
3. 2026-02-19
   price $79,000
4. 2026-01-20
   price $89,000
5. 2026-01-20
   status Active
6. 2025-09-28
   historical Active Under Contract
7. 2025-09-12
   status Active
8. 2025-08-28
   status Active
9. 2025-07-15
   status Pending
10. 2025-07-15
    historical
11. 2025-07-15
    historical
12. 2025-06-18
    price $99,000
13. 2025-05-15
    price $109,900
14. 2025-03-11
    price $119,900
15. 2025-02-25
    price $124,900
16. 2025-01-06
    price $139,900
17. 2025-01-02
    price $149,000
18. 2024-11-20
    listed $159,900 Active
19. 2007-03-12
    historical 226-char remark

    Show marketing remark (226 chars)

    LAKE VIRGINIA SINGLEWIDE MOBILE HOME ON A SMALL FISHING LAKE. ELECTRIC STOVE, REFRIGERATOR, AND ROLL AROUND DISHWASHER WILL STAY. THE MOBILE HAS CATHEDRAL CEILINGS, CENTRAL ELECTRIC HEAT AND WINDOW AIR. GREAT GETAWAY PLACE.

20. 2006-09-13
    listed $74,000 226-char remark

    Show marketing remark (226 chars)

    LAKE VIRGINIA SINGLEWIDE MOBILE HOME ON A SMALL FISHING LAKE. ELECTRIC STOVE, REFRIGERATOR, AND ROLL AROUND DISHWASHER WILL STAY. THE MOBILE HAS CATHEDRAL CEILINGS, CENTRAL ELECTRIC HEAT AND WINDOW AIR. GREAT GETAWAY PLACE.

21. 1996-10-29
    soldstatus $17,000
22. 1991-07-01
    soldstatus $18,000

ⓘ 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: $1,583 · $132/mo
• Projected year-2 tax: $1,583 · $132/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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$4,425
• − Property taxes: −$1,583
• − Insurance: −$395
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,298
• Taxable income: $3,898
• Est. tax owed @ 24.0%: −$936
• After-tax cash flow: $3,965/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

+338.9% since first listed

22 events — show timeline

• 2026-05-04 Pending — realMLS
• 2026-04-08 Relisted — realMLS
• 2026-02-19 Price Changed $79,000 realMLS
• 2026-01-20 Price Changed $89,000 realMLS
• 2026-01-20 Relisted — realMLS
• 2025-09-28 Contingent — realMLS
• 2025-09-12 Relisted — realMLS
• 2025-08-28 Relisted — realMLS
• 2025-07-15 Pending — realMLS
• 2025-07-15 Listing Removed — realMLS
• 2025-07-15 Listing Removed — realMLS
• 2025-06-18 Price Changed $99,000 realMLS
• 2025-05-15 Price Changed $109,900 realMLS
• 2025-03-11 Price Changed $119,900 realMLS
• 2025-02-25 Price Changed $124,900 realMLS
• 2025-01-06 Price Changed $139,900 realMLS
• 2025-01-02 Price Changed $149,000 realMLS
• 2024-11-20 Listed $159,900 realMLS
• 2007-03-12 Listing Removed — realMLS
• 2006-09-13 Listed $74,000 realMLS
• 1996-10-29 Sold (Public Records) $17,000 Public Records
• 1991-07-01 Sold (Public Records) $18,000 Public Records

Property tax history

+12.8%/yr

Latest (2025): $1,583 · +2.8% YoY. Source: county tax records.