1013 Forest Park St · Bunnell, FL 32110

$239,000

3 bd · 2.0 ba · 1,431 sqft · Manufactured public records · 353 Days on market

Built 1998 0.92 ac lot Est $209k · 14% over

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Why this score? — see what drove the F 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 +13.2/30.0
• Schools +4.6/10.0
• DSCR +4.0/10.0
• Livability +3.6/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom, 2 bathroom home located on corner lot with almost an acre of land. The home features a wooden ramp to the front deck, high ceilings, open living room with fireplace, New laminate floors, recently painted, walk in closets and a large tub in master bath with separate shower.

Key facts

• Remodeled fireplace
• Fully fenced
• Electric gate

Tags

• FULLY FENCED
• ELECTRIC GATE
• REMODELED FIREPLACE
• CUSTOM TILE SHOWER
• LARGE WALK-IN CLOSETS
• MULTIPLE STORAGE SHEDS

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Manufactured Home; Zoning: MH-1; Total building area approximately 1,559 square feet; Living area approximately 1,431 square feet; Lot size about 0.92 acres (approx. 1/2 to less than 1 acre); One well and one septic on the property
• HOA & community: No HOA; Located in the Daytona North development

Exterior

• Parking: Dirt road access
• Utilities: Well water; Septic tank; Electricity connected; Sewer connected
• Home design: Manufactured double-wide home; Single-story; North-facing; Completed condition; Homestead exempt
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built as a manufactured home
• Exterior features: Front porch; Exterior storage; Cleared lot; Corner lot; Trees and landscaped

Interior

• Kitchen: Convection oven; Cooktop; Range; Microwave; Dishwasher; Refrigerator; Water softener; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Open floor plan; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $-6 ($-67/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (21.7% below list).
• Recommended offer: $187k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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); Buddy Taylor Middle School (math 50% / reading 45%, grade C-, #288 of 571 statewide, top 51%, 1,343 students, 63% 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: 281 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 353 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $51k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $187,149 (21.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 353 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.78% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $208,926
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1089 Aspen St	0.45mi	3/2.0	1,493 (+4%)	1mo	$279,000	$187	71
1328 County Road 305	0.58mi	3/2.0	1,512 (+6%)	10mo	$220,000	$146	55
1101 Hazelnut St	0.69mi	4/2.0 (+1)	1,620 (+13%)	3mo	$100,000	$62	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-39,161
• Equity at exit: $35,636

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-34,864
• Equity at exit: $20,664

Cash invested: $66,920 (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: 281
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,871 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-6

Break-even live

Break-even rent $1,879

Max offer price $238,008

Occupancy floor 95%

Sensitivity live

Price	-10% $130	-5% $62	+0% $-6	+5% $-73	+10% $-141
Rent	-10% $-153	-5% $-80	+0% $-6	+5% $68	+10% $142
Rate	-1.0pp $115	-0.5pp $55	base $-6	+0.5pp $-68	+1.0pp $-131

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $239,000 Active 353 DOM
2. 2026-06-18
   days on market $239,000 Active 350 DOM
3. 2026-06-17
   days on market $239,000 Active 349 DOM
4. 2026-06-16
   days on market $239,000 Active 348 DOM
5. 2026-06-15
   days on market $239,000 Active 347 DOM
6. 2026-06-14
   days on market $239,000 Active 345 DOM
7. 2026-06-13
   pricedays on market $239,000 Active 344 DOM
8. 2026-06-10
   days on market $255,000 Active 342 DOM
9. 2026-06-09
   days on market $255,000 Active 341 DOM
10. 2026-06-08
    days on market $255,000 Active 340 DOM
11. 2026-06-07
    days on market $255,000 Active 339 DOM
12. 2026-06-03
    days on market $255,000 Active 335 DOM
13. 2026-06-02
    days on market $255,000 Active 334 DOM
14. 2026-06-01
    days on market $255,000 Active 333 DOM
15. 2026-05-31
    days on market $255,000 Active 332 DOM
16. 2026-01-22
    price $265,000
17. 2025-09-24
    price $274,990
18. 2025-08-11
    price $284,990
19. 2025-07-03
    listed $289,990 Active
20. 2022-09-22
    soldstatus $170,000
21. 2021-06-28
    soldstatus $120,000
22. 2020-08-17
    soldstatus $90,000
23. 2020-08-12
    soldstatus $90,000 284-char remark

    Show marketing remark (284 chars)

    3 Bedroom, 2 bathroom home located on corner lot with almost an acre of land. The home features a wooden ramp to the front deck, high ceilings, open living room with fireplace, New laminate floors, recently painted, walk in closets and a large tub in master bath with separate shower.

24. 2020-06-18
    listed $115,000 284-char remark

    Show marketing remark (284 chars)

    3 Bedroom, 2 bathroom home located on corner lot with almost an acre of land. The home features a wooden ramp to the front deck, high ceilings, open living room with fireplace, New laminate floors, recently painted, walk in closets and a large tub in master bath with separate shower.

25. 2019-08-29
    historical
26. 2019-08-19
    listed $58,000
27. 2019-07-26
    historical
28. 2019-07-26
    historical
29. 2019-07-26
    historical
30. 2019-05-15
    listed $115,000
31. 2019-05-15
    listed $115,000
32. 2019-05-14
    listed $115,000

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,984 · $165/mo
• Expected delta: +$410/yr (+$34/mo · 26.0%)

ⓘ 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 9/10 Extreme 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $22,458
• − Mortgage interest: −$13,388
• − Property taxes: −$1,574
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$6,953
• Taxable loss: −$4,245
• Est. tax savings @ 24.0%: +$1,019
• After-tax cash flow: $951/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

+130.4% since first listed

17 events — show timeline

• 2026-01-22 Price Changed $265,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $274,990 Stellar MLS as Distributed by MLS Grid
• 2025-08-11 Price Changed $284,990 Stellar MLS as Distributed by MLS Grid
• 2025-07-03 Listed $289,990 Stellar MLS as Distributed by MLS Grid
• 2022-09-22 Sold (Public Records) $170,000 Public Records
• 2021-06-28 Sold (Public Records) $120,000 Public Records
• 2020-08-17 Sold (Public Records) $90,000 Public Records
• 2020-08-12 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2020-06-18 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2019-08-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-08-19 Listed $58,000 Stellar MLS as Distributed by MLS Grid
• 2019-07-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-07-26 Listing Removed — Daytona MLS
• 2019-07-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-05-15 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2019-05-15 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 2019-05-14 Listed $115,000 Daytona MLS

Property tax history

+9.7%/yr

Latest (2025): $1,574 · -0.5% YoY. Source: county tax records.