47730 State Road 19 · Pittman, FL 32702

$65,000

2 bd · 1.0 ba · 1,162 sqft · SingleFamily public records · 287 Days on market

Built 1930 0.29 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Under contract-accepting backup offers. Cash Only! House needs a full renovation. Well and septic on the property, cannot guarantee condition.

Key facts

• 0.29 acre lot
• Built 1930
• Listed 287 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#885 in FL) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: amenities F, commute F, cost of living F.
• Lake (suburban): math 49% / reading 50% proficiency, ranked #37 of 73 in FL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Umatilla Elementary School (math 59% / reading 56%, grade C+, #764 of 2,144 statewide, top 36%, 660 students, 55% FRL); Umatilla Middle School (math 58% / reading 46%, grade C+, #217 of 571 statewide, top 40%, 595 students, 57% FRL); Umatilla High School (math 24% / reading 29%, grade F, #489 of 667 statewide, top 74%, 861 students, 51% FRL).
• Market conditions: 37 active listings in the ZIP; 4,799 units permitted in Lake County in 2024 (814 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• Lake County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 287 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $35k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $65k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 287 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.82% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.49%
• DSCR: 2.31
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.7%
• Equity multiple: 4.51×
• Total profit: $63,928
• Equity at exit: $58,557

10-year hold

• IRR: 40.6%
• Equity multiple: 10.12×
• Total profit: $165,935
• Equity at exit: $126,281

Cash invested: $18,200 (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 32702

• Home prices YoY: 3.3%
• Active inventory: 37
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $447

Break-even live

Break-even rent $615

Max offer price $65,000

Occupancy floor 57%

Sensitivity live

Price	-10% $484	-5% $466	+0% $447	+5% $429	+10% $410
Rent	-10% $354	-5% $401	+0% $447	+5% $494	+10% $541
Rate	-1.0pp $480	-0.5pp $464	base $447	+0.5pp $430	+1.0pp $413

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-18
   status Pending
2. 2026-03-13
   price $65,000
3. 2026-02-15
   status Active
4. 2026-02-03
   status Pending
5. 2025-10-07
   status Active
6. 2025-09-22
   status Pending
7. 2025-08-30
   price $85,000
8. 2025-05-08
   listed $100,000 Active
9. 1990-06-01
   soldstatus $19,000

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $1,412 · $118/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,170
• − Mortgage interest: −$3,641
• − Property taxes: −$1,412
• − Insurance: −$325
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$1,891
• Taxable income: $4,634
• Est. tax owed @ 24.0%: −$1,112
• After-tax cash flow: $4,255/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: Lake
• NCES district ID: 1201050
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $46,632
• Composite: 42.05/100
• National rank: #3327
• State rank: #37 of 73 in FL

Livability — Pittman

• Score: 52/100
• State rank: #885
• US rank: #25007

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,732

Population outlook (Lake County) Hauer SSP2

• Today (2025): 386,640 people
• By 2030: 417,107 · +7.9%
• By 2040: 476,676 · +23.3%
• By 2050: 531,296 · +37.4%
• By 2075: 648,303 · +67.7%
• By 2100: 698,530 · +80.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Black 3% Two or more races 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2%
• Common ancestry: Portuguese 4% Slovak 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lake

• 2024 margin: Strong R (+24.7) · D 37.3% · R 62.0%
• 2008→2024 swing: -11.2pp toward R · 2008: -13.5pp · 2024: -24.7pp
• All cycles: 2024: R+24.7 2020: R+20.0 2016: R+23.1 2012: R+17.1 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.23%
• Current HPI: 383.8128
• 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

+242.1% since first listed

9 events — show timeline

• 2026-03-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $65,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-10-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-08-30 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-08 Listed $100,000 Stellar MLS as Distributed by MLS Grid
• 1990-06-01 Sold (Public Records) $19,000 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,412 · +4.1% YoY. Source: county tax records.