101 SE 298th St · Cross City, FL 32628

$129,000

3 bd · 1.0 ba · 1,440 sqft · Manufactured public records · 170 Days on market

Built 1997 0.42 ac lot Est $168k · 23% under ↓ 6% since listing

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Why this score? — see what drove the C+ 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 +18.7/30.0
• ARV discount +15.0/15.0
• Appreciation +7.1/10.0
• DSCR +5.9/10.0
• Schools +4.2/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this charming 3-bedroom, 2-bathroom family home featuring a cozy fireplace and a spacious separate living room, all nestled on a generous 0.42-acre lot in Cross City, FL, in Dixie County. This property presents an incredible opportunity for investors or first-time buyers looking to create their perfect place. With just a little TLC, you can transform this space into a stunning haven. Don't miss out on this fantastic chance to invest in your future!

Key facts

• 0.42 acre lot
• Built 1997
• Listed 169 days

Property features AI

Finance

• Financial info: $731.47 annual tax amount

Exterior

• Home design: Residential mobile home; Located in Gauldens 2nd Addition
• Construction: Vinyl siding; Metal roof; Built on crawl space
• Exterior features: Wooded lot

Interior

• Kitchen: Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living areas)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Walk-in closets; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (9.5% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.1% in Cross City — 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 70/100 on livability (#412 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Dixie (rural): math 52% / reading 50% proficiency, ranked #36 of 73 in FL (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Old Town Elementary School (math 73% / reading 58%, grade B+, #500 of 2,144 statewide, top 24%, 456 students, 80% FRL); Ruth Rains Middle School (math 48% / reading 49%, grade C-, #274 of 571 statewide, top 50%, 431 students, 76% FRL); Dixie County High School (math 31% / reading 42%, grade F, #351 of 667 statewide, top 54%, 714 students, 70% FRL).
• Market conditions: 47 active listings in the ZIP; 49 units permitted in Dixie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($892 loan paydown + $5k appreciation (4.2% local appreciation)).
• Dixie County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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. 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: 0.90% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $168,480
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
477 NE 214th Ave	0.47mi	3/2.0	1,248 (-13%)	3mo	$146,500	$117	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.88×
• Total profit: $31,879
• Equity at exit: $66,771

10-year hold

• IRR: 15.5%
• Equity multiple: 3.56×
• Total profit: $92,370
• Equity at exit: $110,314

Cash invested: $36,120 (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 32628

• Home prices YoY: 1.1%
• Active inventory: 47
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$64 /mo · $769/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $128

Break-even live

Break-even rent $1,005

Max offer price $129,000

Occupancy floor 84%

Sensitivity live

Price	-10% $201	-5% $164	+0% $128	+5% $91	+10% $55
Rent	-10% $36	-5% $82	+0% $128	+5% $174	+10% $220
Rate	-1.0pp $193	-0.5pp $161	base $128	+0.5pp $94	+1.0pp $60

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $129,000 Active 170 DOM
2. 2026-06-21
   days on market $129,000 Active 169 DOM
3. 2026-06-18
   days on market $129,000 Active 167 DOM
4. 2026-06-17
   days on market $129,000 Active 166 DOM
5. 2026-06-16
   days on market $129,000 Active 165 DOM
6. 2026-06-15
   days on market $129,000 Active 164 DOM
7. 2026-06-13
   days on market $129,000 Active 162 DOM
8. 2026-06-12
   days on market $129,000 Active 161 DOM
9. 2026-06-09
   days on market $129,000 Active 158 DOM
10. 2026-06-08
    days on market $129,000 Active 157 DOM
11. 2026-06-07
    days on market $129,000 Active 156 DOM
12. 2026-06-07
    days on market $129,000 Active 155 DOM
13. 2026-06-04
    days on market $129,000 Active 152 DOM
14. 2026-06-02
    days on market $129,000 Active 151 DOM
15. 2026-06-01
    days on market $129,000 Active 150 DOM
16. 2026-05-31
    days on market $129,000 Active 149 DOM
17. 2026-05-31
    days on market $129,000 Active 148 DOM
18. 2026-01-02
    listed $129,000 Active
19. 2025-10-02
    listed $137,900 Active

ⓘ 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: $769 · $64/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$302/yr (+$25/mo · 39.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 23 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: $14,007
• − Mortgage interest: −$7,226
• − Property taxes: −$769
• − Insurance: −$645
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$3,753
• Taxable loss: −$627
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $1,684/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: Dixie
• NCES district ID: 1200450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $34,799
• Composite: 42.18/100
• National rank: #3290
• State rank: #36 of 73 in FL

Livability — Cross City

• Score: 70/100
• State rank: #412
• US rank: #7340

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cross City, FL
• Population (ZIP): 5,423

Population outlook (Dixie County) Hauer SSP2

• Today (2025): 15,122 people
• By 2030: 14,521 · -4.0%
• By 2040: 13,503 · -10.7%
• By 2050: 12,671 · -16.2%
• By 2075: 10,857 · -28.2%
• By 2100: 8,344 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 61% Black 18% Two or more races 15% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Cuban 2%
• Common ancestry: Italian 1% Hispanic 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Other Asian/Pacific 1%

Political lean MEDSL · Dixie

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -25.4pp toward R · 2008: -45.0pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+66.0 2016: R+63.2 2012: R+46.9 2008: R+45.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.18%
• Current HPI: 398.3675
• 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

-6.5% since first listed

2 events — show timeline

• 2026-01-02 Listed $129,000 DGLMLS
• 2025-10-02 Listed $137,900 DGLMLS

Property tax history

+17.5%/yr

Latest (2025): $769 · +4.1% YoY. Source: county tax records.