608 Kitty Ave · Interlachen, FL 32148

$68,000

3 bd · 2.0 ba · 1,320 sqft · Manufactured public records · 6 Days on market

Built 1973 0.43 ac 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
• 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

Well kept mobile home with a screened in porch and carport. The washer, dryer and hot water heater in the laundry room off the screened in porch. Property is two lots well maintained with a shed and carport/boat shed in the back. Complete chain link 4 foot fence in front and sides with 5ft in the rear. A must see to appreciate. Annual Pest Control and Semi-Annual AC service.

Key facts

• New well pump
• Almost half acre
• Open shed

Tags

• ALMOST HALF ACRE
• COMPLETELY FENCED YARD
• OPEN SHED
• NEW WELL PUMP

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Other parking
• Utilities: Septic tank; Water connected
• Home design: Double wide mobile home; Single-story (one level); Used as a single-family residence
• Construction: Vinyl siding; Shingle roof
• Exterior features: Porch; Shed(s) and other outbuilding(s); Dirt road access; Fencing (other)

Interior

• Kitchen: All appliances remain; Electric oven; Electric range; Microwave; Refrigerator; Freezer (upright)
• Bedrooms: Main bedroom with separate sink and shower; Bedroom with attached bathroom (Main); Second bedroom (Main) — currently being remodeled; Third bedroom (Main)
• Bathrooms: 2 full bathrooms; One bathroom with shower and tub
• Heating & cooling: Wall/window unit(s) for cooling
• Interior features: Walk-in closet(s); Woodstove remains
• Laundry & utility: Washer and dryer (remain); Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $68k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Cap rate 17.3% vs local median 5.6% 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: 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 71% FRL track the district average.
• Zoned-school proficiency averages 24% at this address vs 36% district-wide (-12 pts) — the specific schools serving this property underperform the Putnam average; the district grade overstates school quality for this exact location.
• Market conditions: 759 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 $470 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.10% ✓
• Cap rate: 17.30%
• Cash-on-cash: 39.31%
• DSCR: 2.75
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $155,760
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Shirley St	0.07mi	3/2.0	1,188 (-10%)	3mo	$141,700	$119	78
523 Guy Ave	0.41mi	3/2.0	1,248 (-6%)	16mo	$58,000	$46	59
606 O Farrell Ave	0.45mi	3/2.0	1,200 (-9%)	7mo	$194,000	$162	58
626 Dawn Ave	0.13mi	2/1.0 (-1)	1,150 (-13%)	11mo	$25,000	$22	54
309 Dawn Ave	0.57mi	3/2.0	1,404 (+6%)	12mo	$165,825	$118	53
210 Lenore Ave	0.55mi	3/2.0	1,152 (-13%)	4mo	$135,000	$117	50

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: 35.6%
• Equity multiple: 2.51×
• Total profit: $28,745
• Equity at exit: $10,139

10-year hold

• IRR: 42.3%
• Equity multiple: 5.01×
• Total profit: $76,353
• Equity at exit: $5,879

Cash invested: $19,040 (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: 759
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$120 /mo · $1,440/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $624

Break-even live

Break-even rent $639

Max offer price $68,000

Occupancy floor 51%

Sensitivity live

Price	-10% $662	-5% $643	+0% $624	+5% $604	+10% $585
Rent	-10% $511	-5% $567	+0% $624	+5% $680	+10% $737
Rate	-1.0pp $658	-0.5pp $641	base $624	+0.5pp $606	+1.0pp $588

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $68,000 Active 6 DOM
2. 2026-06-17
   days on market $68,000 Active 5 DOM
3. 2026-06-16
   days on market $68,000 Active 4 DOM
4. 2026-06-15
   days on market $68,000 Active 3 DOM
5. 2026-06-13
   remarks 368-char remark
6. 2026-06-13
   listed $68,000 Active 1 DOM

ⓘ 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: $1,440 · $120/mo
• Projected year-2 tax: $1,440 · $120/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°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: $17,144
• − Mortgage interest: −$3,809
• − Property taxes: −$1,440
• − Insurance: −$340
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$1,978
• Taxable income: $6,833
• Est. tax owed @ 24.0%: −$1,640
• After-tax cash flow: $5,844/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

+172.0% since first listed

12 events — show timeline

• 2026-06-12 Listed $68,000 realMLS
• 2023-04-17 Sold (Public Records) $75,000 Public Records
• 2023-04-14 Sold (MLS) $75,000 AINCAR
• 2023-04-14 Sold (MLS) $75,000 realMLS
• 2023-03-06 Pending — realMLS
• 2023-02-08 Price Changed $82,500 realMLS
• 2023-01-01 Listed $82,500 AINCAR
• 2022-11-15 Relisted — realMLS
• 2022-10-21 Pending — realMLS
• 2022-09-22 Price Changed $87,500 realMLS
• 2022-05-05 Listed $105,275 realMLS
• 1987-07-01 Sold (Public Records) $25,000 Public Records

Property tax history

+11.8%/yr

Latest (2025): $1,440 · -1.0% YoY. Source: county tax records.