535 Hagan St Unit - · Monticello, FL 32344

$550,000

7 bd · 7.0 ba · 6,024 sqft · MultiFamily public records · 65 Days on market

Built 1965

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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 +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rare Investor Opportunity: 7-Unit Residential Complex for Sale Don't miss this fantastic investment opportunity! This well-maintained 7-unit complex features: Six 3-bedroom, 1-bathroom units One 2-bedroom, 1-bathroom unit Walking distance to downtown – perfect for tenants seeking convenience Corner lot location with excellent visibility Designated parking spots for each unit 2023 Roof Whether you're an experienced investor or looking to expand your portfolio, this property offers great potential in a desirable location.

Key facts

• 2023 roof
• Corner lot location
• Parking

Tags

• WALKING DISTANCE TO DOWNTOWN
• CORNER LOT LOCATION
• DESIGNATED PARKING SPOTS
• 2023 ROOF

Property features AI

Finance

• Financial info: Property offered for sale; Owner pays insurance, some repairs, and other specified items; Seven total units in the building; Vacancy allowance rate listed at 42%; Unit rents vary (examples: $775, $700, $900 for different units)

Exterior

• Parking: Assigned parking; parking spaces vary by unit
• Home design: Single-story building
• Construction: Block and concrete construction
• Exterior features: Assigned parking spaces (varies by unit)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Combination of 2- and 3-bedroom units across the building (units include 2-bedroom and 3-bedroom layouts)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: Each unit includes one full bathroom
• Heating & cooling: Electric heating; Central electric air conditioning
• Interior features: Carpet, laminate, and vinyl flooring

What this means for you Summary

Snapshot

• This is a 6×3bd/1ba + 1×2bd/1ba units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $550k).
• Recommended offer: $517k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 2.8% in Monticello — 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 72/100 on livability (#356 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, amenities D-, commute F.
• Jefferson (rural): math 28% / reading 30% proficiency, ranked #71 of 73 in FL (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 65 active listings in the ZIP; 64 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Jefferson County population projected at -34% 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 $154k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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.
• Current owner paid $260k; list at $550k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $516,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.74% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.55%
• DSCR: 2.36
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.3%
• Equity multiple: 2.04×
• Total profit: $160,669
• Equity at exit: $82,007

10-year hold

• IRR: 33.0%
• Equity multiple: 4.00×
• Total profit: $461,718
• Equity at exit: $47,554

Cash invested: $154,000 (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 32344

• Home prices YoY: -18.6%
• Active inventory: 65
• Price-to-rent: 32.9×

Monthly cashflow live

• Estimated rent: $9,597 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$547 /mo · $6,566/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,015
• Net cashflow: $3,921

Break-even live

Break-even rent $4,634

Max offer price $550,000

Occupancy floor 54%

Sensitivity live

Price	-10% $4,232	-5% $4,077	+0% $3,921	+5% $3,765	+10% $3,610
Rent	-10% $3,163	-5% $3,542	+0% $3,921	+5% $4,300	+10% $4,679
Rate	-1.0pp $4,198	-0.5pp $4,061	base $3,921	+0.5pp $3,779	+1.0pp $3,634

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$8,352
1× unit	2	1	$1,246
Total (7 units)			$9,597

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $550,000 Active 65 DOM
2. 2026-06-17
   days on market $550,000 Active 64 DOM
3. 2026-06-16
   days on market $550,000 Active 63 DOM
4. 2026-06-15
   days on market $550,000 Active 62 DOM
5. 2026-06-14
   days on market $550,000 Active 60 DOM
6. 2026-06-13
   days on market $550,000 Active 59 DOM
7. 2026-06-10
   days on market $550,000 Active 57 DOM
8. 2026-06-09
   days on market $550,000 Active 56 DOM
9. 2026-06-08
   days on market $550,000 Active 55 DOM
10. 2026-06-07
    days on market $550,000 Active 54 DOM
11. 2026-06-03
    days on market $550,000 Active 50 DOM
12. 2026-06-02
    days on market $550,000 Active 49 DOM
13. 2026-06-01
    days on market $550,000 Active 48 DOM
14. 2026-05-31
    days on market $550,000 Active 47 DOM
15. 2026-05-30
    days on market $550,000 Active 46 DOM
16. 2026-04-14
    listed $550,000 Active
17. 2007-10-09
    soldstatus $260,000
18. 2007-04-09
    historical
19. 2007-03-07
    listed $285,000
20. 2006-05-31
    historical
21. 2005-11-29
    listed $295,000

ⓘ 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: $6,566 · $547/mo
• Projected year-2 tax: $6,566 · $547/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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $115,164
• − Mortgage interest: −$30,809
• − Property taxes: −$6,566
• − Insurance: −$2,750
• − Repairs & maintenance: −$9,213
• − Management: −$9,213
• − Depreciation: −$16,000
• Taxable income: $40,613
• Est. tax owed @ 24.0%: −$9,747
• After-tax cash flow: $37,305/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: Jefferson
• NCES district ID: 1200990
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 30% ▼ -3.00%
• Median HH income: $43,356
• Composite: 24.74/100
• National rank: #7605
• State rank: #71 of 73 in FL

Livability — Monticello

• Score: 72/100
• State rank: #356
• US rank: #6199

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, FL
• Population (ZIP): 12,879

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 12,681 people
• By 2030: 11,811 · -6.9%
• By 2040: 9,968 · -21.4%
• By 2050: 8,319 · -34.4%
• By 2075: 5,406 · -57.4%
• By 2100: 3,278 · -74.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 2% Lithuanian 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1%

Political lean MEDSL · Jefferson

• 2024 margin: R (+18.6) · D 40.3% · R 58.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 3.7pp · 2024: -18.6pp
• All cycles: 2024: R+18.6 2020: R+6.9 2016: R+5.1 2012: D+1.8 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.71%
• Current HPI: 182.5741
• 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

+86.4% since first listed

6 events — show timeline

• 2026-04-14 Listed $550,000 CATRS
• 2007-10-09 Sold (Public Records) $260,000 Public Records
• 2007-04-09 Listing Removed — CATRS
• 2007-03-07 Listed $285,000 CATRS
• 2006-05-31 Listing Removed — CATRS
• 2005-11-29 Listed $295,000 CATRS

Property tax history

+2.8%/yr

Latest (2025): $6,566 · -0.9% YoY. Source: county tax records.