189 SE Suwannee Acres Ln

Mayo, FL 32066

$225,000D

5 bd · 2.0 ba · 1,728 sqft · Built 1998 · Manufactured · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,407/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $-204/mo
• Annual: $-2,448/yr
• Cap rate: 5.21%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• 1% rule: 0.63%
• Cash to close: $63,000

Investor read

• This is a 5-bed/2.0-bath manufactured listed at $225k.
• At list price, monthly cash flow is $-204 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (37.5% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $141k (37.5% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (6.9% local appreciation)).
• Location reads 63/100 on livability (#740 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Lafayette (rural): math 73% / reading 57% proficiency, ranked #6 of 73 in FL (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lafayette Elementary School (math 78% / reading 58%, grade B+, #425 of 2,144 statewide, top 20%, 515 students, 63% FRL).
• Market conditions: 78 active listings in the ZIP; 42 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 12y 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 $30k; list at $225k implies a 653% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% vs local median 2.0% in Mayo — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.