2003 Built Webster Block SFR – $99K

2003 CBS block, 864 SF, 2/1, 0.26-acre lot. Every other home on CR 675W is mobile or manufactured – this is the only block home on the street. Owner reports good condition. Vacant at close. No HOA. Flood Zone X.

• Only CBS home on a manufactured home street.
• 2003 build. Modern plumbing, modern electrical, modern framing. No systems surprises.
• Owner reports roof, HVAC, and systems functional.
• Clears the 1% rule unimproved. $103K all-in, $1,150 to $1,300/mo rent. Rental hold cash-flows before touching a tool.
• Active market 0.02 miles away. Philips Landing CBS new construction is selling at $459K to $525K on 1-acre lots next door. Size and era differences make those unusable as direct comps, but buyer demand in this specific corridor is confirmed and active.

Repairs (Estimated):

• Kitchen: Paint/replace cabinet doors, new countertop, appliances
• Bathroom: Vanity, toilet, fixtures
• Flooring: LVP throughout (~864 SF)
• Paint: Interior $1,500 to $2,000
• Roof/HVAC/systems: Owner says good
• Landscaping

🟣 Comparable Sales – very hard to comp. Not a lot to go off of.

1. 855 NW 4th St, Webster | 2/1 | 729 SF | $155,000 Closed ($213/SF) — Oct 2024. Fully renovated CBS — roof, AC, panel, piping, quartz, tile, stainless. Subject is 135 SF larger and 3 years newer. Outside 12 months due to thin market inventory — directional ceiling only.

2. 119 E Central Ave, Bushnell | 2/1 | 768 SF | $150,000 Closed ($195/SF) — Apr 2025. Updated CBS. Bushnell is 5 miles from Webster, same Sumter County market tier. Establishes the $150K refreshed floor.

3. 302 W Hunt Ave, Bushnell | 2/1 | 1,026 SF | $160,000 Closed ($156/SF) — Feb 2025. Updated CBS, larger footprint. Confirms $160K for updated CBS 2/1 in this county.

4. 624 NW 3rd Ave, Webster | 2/1 | 864 SF | $164,900 Pending ($191/SF) — listed Oct 2025, pending Dec 2025. Identical footprint, 1988 build. Pending only — not a confirmed sale. Subject’s 2003 CBS is superior. Current market demand reference.

5. 11489 CR 675, Webster | 2/2 | 864 SF | $75,000 Closed ($87/SF) — Mar 2026. Same street, same footprint — manufactured home. The most important comp in the set. Establishes the manufactured floor this street will appraise against and confirms the CBS structural premium.

Note on Philips Landing: 10735, 10745, and 10719 Philips Landing Ct (0.02 mi N) closed or pended at $459K to $525K in 2025 to 2026. They are 2025 to 2026 new construction, 1,846 to 2,023 SF, 3 to 4 bed, on 1-acre lots. Size, era, bed count, and lot make them unusable as direct comps under any appraisal standard. They are market demand confirmation only — not a valuation basis.

🟡 ARV & Rental Analysis

Verified renovated CBS sales in Webster and Bushnell put the ceiling around $155K to $160K. Subject is larger than both primary CBS comps and has a newer build date, supporting a modest premium to the top of that range. The $164,900 pending at 624 NW 3rd Ave (identical SF, older 1988 build) confirms current buyer activity above $160K for this footprint. Full renovation ARV estimated between $165K to $178K, defensibly. Anything above it requires comps that don’t exist in this market.

Estimated ARV: $165,000 to $178,000

Projected Rent: $1,150 to $1,300/mo