10-7 Pine St · Carrabelle, FL 32322

$144,990

1 bd · 1.0 ba · 654 sqft · Townhouse · 110 Days on market

Built 1943 Good condition

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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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Escape to this beautifully renovated coastal getaway, offered fully furnished and ready for immediate enjoyment. Thoughtfully updated with stylish finishes and comfortable dcor, this home is perfect as a vacation retreat, investment property, or full-time residence. Simply arrive and unwind. Amenities include a large living room area with a fireplace, built in shelving and charm to spare. The beautifully redone kitchen has stainless steel appliances, an abundance of cabinets featuring glass doors and enough counter space to prepare any meal. All of the furniture, artwork and accessories have been meticulously chosen to give an elegant but cozy and comfortable lifestyle. You park right outsi

Key facts

• Renovated kitchen
• Public boat ramp
• Fenced backyard

Tags

• RENOVATED KITCHEN
• STAINLESS STEEL APPLIANCES
• FENCED BACKYARD
• PUBLIC BOAT RAMP
• WATER ACCESS
• HISTORIC SIGNIFICANCE

Property features AI

Finance

• Other: Zoned R-4 (Residential Multi-Family); Lot dimensions approximately 18 x 55, 18' frontage; Located in Lanark Village
• HOA & community: Clubhouse; Playground; Pets allowed

Exterior

• Parking: 2 parking spaces (on street)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water connected
• Home design: Attached single-family townhouse; 1 story; New construction
• Construction: Block construction; Metal roof; Slab foundation; Built by U S Corp of Engineer
• Exterior features: Patio; Full backyard fencing

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling; Ceiling fan(s)
• Interior features: Breakfast bar; Built-in bookcases; Window coverings; Furnished; Fireplace

🏗️ New construction. The $144,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $127,530.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 1.9% in Carrabelle — 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 69/100 on livability (#466 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools F, amenities F.
• Franklin (rural): math 33% / reading 38% proficiency, ranked #67 of 73 in FL (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 320 active listings in the ZIP; 113 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,940 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — 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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $127,530
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Pine St #7	0.04mi	1/1.0	654 (0%)	13mo	$55,000	$84	87
49-3 E Pine St	0.19mi	1/1.0	662 (+1%)	8mo	$134,500	$203	82
52-6 Parker Ave	0.15mi	2/1.0 (+1)	630 (-4%)	2mo	$165,000	$262	81
20-3 Collins St	0.07mi	2/1.0 (+1)	658 (+1%)	14mo	$128,000	$195	79
30 Parker Ave #3	0.10mi	1/1.0	610 (-7%)	7mo	$100,000	$164	78
30-3 Parker Ave	0.10mi	1/1.0	610 (-7%)	7mo	$100,000	$164	78
22-6 W Pine St #6	0.04mi	1/1.0	620 (-5%)	22mo	$114,000	$184	71
54-5 Parker Ave	0.07mi	2/1.0 (+1)	565 (-14%)	7mo	$104,500	$185	63
50-1 E Pine St	0.20mi	2/1.0 (+1)	578 (-12%)	4mo	$148,000	$256	63
56 Parker Ave #1	0.09mi	2/1.0 (+1)	748 (+14%)	18mo	$175,000	$234	52

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,858
• Equity at exit: $19,015

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $22,663
• Equity at exit: $11,026

Cash invested: $35,708 (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 32322

• Home prices YoY: -8.8%
• Active inventory: 320
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,489 medium
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,913/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $295

Break-even live

Break-even rent $1,116

Max offer price $127,530

Occupancy floor 75%

Sensitivity live

Price	-10% $383	-5% $339	+0% $295	+5% $251	+10% $207
Rent	-10% $177	-5% $236	+0% $295	+5% $354	+10% $413
Rate	-1.0pp $359	-0.5pp $327	base $295	+0.5pp $262	+1.0pp $228

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: $31,882
• Closing costs: $3,826
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $144,990 Active 110 DOM
2. 2026-06-18
   days on market $144,990 Active 109 DOM
3. 2026-06-17
   days on market $144,990 Active 108 DOM
4. 2026-06-16
   days on market $144,990 Active 107 DOM
5. 2026-06-15
   days on market $144,990 Active 106 DOM
6. 2026-06-14
   days on market $144,990 Active 104 DOM
7. 2026-06-13
   days on market $144,990 Active 103 DOM
8. 2026-06-10
   days on market $144,990 Active 101 DOM
9. 2026-06-09
   days on market $144,990 Active 100 DOM
10. 2026-06-08
    days on market $144,990 Active 99 DOM
11. 2026-06-07
    days on market $144,990 Active 98 DOM
12. 2026-06-05
    days on market $144,990 Active 95 DOM
13. 2026-06-03
    days on market $144,990 Active 94 DOM
14. 2026-06-02
    days on market $144,990 Active 93 DOM
15. 2026-06-01
    days on market $144,990 Active 92 DOM
16. 2026-05-31
    days on market $144,990 Active 91 DOM
17. 2026-05-30
    days on market $144,990 Active 90 DOM
18. 2026-03-01
    listed $144,990 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,868
• − Mortgage interest: −$7,144
• − Property taxes: −$1,913
• − Insurance: −$638
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$3,710
• Taxable income: $1,604
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $3,154/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This beautifully renovated townhouse is move-in ready with good condition and minimal repairs needed. The interior and exterior are well-maintained, and updates like painting the exterior and replacing the bathroom curtains would significantly increase its value.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the bathroom window curtains — Improves aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the bathroom window curtains — Improves aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Franklin
• NCES district ID: 1200570
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $39,084
• Composite: 29.7/100
• National rank: #6454
• State rank: #67 of 73 in FL

Livability — Carrabelle

• Score: 69/100
• State rank: #466
• US rank: #8398

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,348

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 11,827 people
• By 2030: 11,839 · +0.1%
• By 2040: 11,707 · -1.0%
• By 2050: 11,218 · -5.1%
• By 2075: 9,849 · -16.7%
• By 2100: 7,286 · -38.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 1%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 7% French/Haitian/Cajun 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+43.8) · D 27.7% · R 71.5%
• 2008→2024 swing: -15.9pp toward R · 2008: -27.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+37.3 2016: R+39.7 2012: R+31.5 2008: R+27.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.76%
• Current HPI: 185.16
• 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

1 event — show timeline

• 2026-03-01 Listed $144,990 RAFGC