516 Pitt St · Wildwood, FL 34785

$189,990

3 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 3 Days on market

Built 1986 6,970 sqft lot Est $205k · 7% under

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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 +22.6/30.0
• ARV discount +10.8/15.0
• DSCR +7.3/10.0
• Schools +5.2/10.0
• 1% rule +5.1/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under $190,000 is a Rare Find in Central Florida! Welcome to Wildwood, Florida, a charming small town located just minutes from The Villages! This beautifully remodeled 3-bedroom, 1.5-bath home is move-in ready and packed with updates. Recent improvements include new kitchen cabinets, a newly remodeled bathroom, fresh interior paint, and a newer roof installed in 2023. The home features an open floor plan with durable vinyl flooring throughout and comes complete with stainless steel appliances, including a refrigerator, stove, and microwave, as well as a washer and dryer. Situated on nearly a quarter-acre lot, the spacious yard offers plenty of room for outdoor activities, entertaining, pet

Key facts

• Spacious yard
• Open floor plan
• Remodeled bathroom

Tags

• REMODELED BATHROOM
• NEW KITCHEN CABINETS
• DURABLE VINYL FLOORING
• STAINLESS STEEL APPLIANCES
• SPACIOUS YARD
• OPEN FLOOR PLAN

Property features AI

Finance

• Other: Property type: Residential, single family; Lot size category: 0 to less than 1/4 acre
• Financial info: Lease restrictions: none indicated
• HOA & community: No HOA/association indicated

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-family residence; One story; Faces west
• Construction: Frame construction; Shingle roof; Slab foundation; Completed condition; Building area reported as 1,500 total
• Exterior features: Asphalt road frontage; Lot of approximately 0.22 acre

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Electric heating; Heat pump; Mini-split cooling unit(s)
• Interior features: Ceiling fans; Open floorplan
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 8.3% vs local median 3.9% in Wildwood — 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 (#471 in FL) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime A-; Watch: schools C-, amenities F, commute F.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 422 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).
• This rent runs 35% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 3y 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 $81k; list at $190k implies a 135% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,990

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.31%
• DSCR: 1.33
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $205,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Jackson St	0.15mi	3/2.0	1,176 (+2%)	5mo	$149,000	$127	83
600 W Clarke St	0.31mi	3/2.0	1,092 (-5%)	1mo	$194,500	$178	74
913 Powell St	0.46mi	3/2.0	1,167 (+1%)	3mo	$216,000	$185	72
905 Ida St	0.48mi	3/2.0	1,162 (+1%)	11mo	$245,000	$211	65
TBD Kilgore St	0.50mi	3/2.0	1,209 (+5%)	14mo	$225,000	$186	55
428 Hall St	0.56mi	2/1.0 (-1)	1,106 (-4%)	10mo	$70,000	$63	52
810 Ridge Ave	0.69mi	2/2.0 (-1)	1,219 (+6%)	1mo	$330,000	$271	51
608 Gray Ave	0.67mi	3/1.5	1,204 (+4%)	13mo	$203,000	$169	51
7936 NE 42nd Ter	0.59mi	3/2.0	1,092 (-5%)	15mo	$185,000	$169	50
504 Gilliam St	0.66mi	3/2.0	1,230 (+7%)	10mo	$195,000	$159	48
914 Powell St	0.49mi	2/2.0 (-1)	1,280 (+11%)	14mo	$130,000	$102	40
809 Judy Ave	0.67mi	3/2.0	1,255 (+9%)	15mo	$263,000	$210	39

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 · 2.85% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-10,466
• Equity at exit: $28,328

10-year hold

• IRR: 4.2%
• Equity multiple: 1.30×
• Total profit: $16,123
• Equity at exit: $16,427

Cash invested: $53,197 (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 34785

• Home prices YoY: -10.7%
• Rents YoY: 2.9%
• Active inventory: 422
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,927 high
• Mortgage (P&I): −$996
• Tax from tax record: −$122 /mo · $1,468/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $324

Break-even live

Break-even rent $1,516

Max offer price $189,990

Occupancy floor 78%

Sensitivity live

Price	-10% $432	-5% $378	+0% $324	+5% $270	+10% $217
Rent	-10% $172	-5% $248	+0% $324	+5% $400	+10% $476
Rate	-1.0pp $420	-0.5pp $373	base $324	+0.5pp $275	+1.0pp $225

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: $47,498
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5901 Myrtle DR Wildwood, FL	1.0–2.0	1.0–2.0	982	$2,009	$2.05	22d	11	0.34mi
8362 Gower Trl Wildwood, FL	3.0	2.5	1464	$1,695	$1.16	22d	1	0.97mi
4980 Red Maple Ln Unit B1 Wildwood, FL	2.0	2.0	1095	$1,884	$1.72	22d	1	1.20mi
4980 Red Maple Ln Unit C1 Wildwood, FL	3.0	2.0	1445	$1,801	$1.25	22d	1	1.20mi
5115 Spanish Harbor Dr Wildwood, FL	1.0–3.0	1.0–2.0	990	$1,680	$1.70	22d	29	1.33mi
6629 Dan DiCiolla Dr Wildwood, FL	1.0–3.0	1.0–2.5	1075	$2,399	$2.23	22d	44	1.39mi
8118 Arrow Wood Loop Wildwood, FL	2.0	2.5	1317	$1,704	$1.29	22d	1	1.39mi
7011 Homestead Lp Wildwood, FL	1.0–3.0	1.0–2.0	998	$1,759	$1.76	22d	22	1.40mi
8128 Arrow Wood Loop Wildwood, FL	2.0	2.5	1317	$1,699	$1.29	22d	1	1.42mi
8168 Arrow Wood Loop Wildwood, FL	2.0	2.5	1317	$1,754	$1.33	22d	1	1.47mi

Listing history 4 events

1. 2026-06-19
   days on market $189,990 Active 3 DOM
2. 2026-06-18
   days on market $189,990 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $189,990 Active 1 DOM

ⓘ 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: $1,468 · $122/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$109/yr (+$9/mo · 7.4%)

ⓘ 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) · 65% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $23,120
• − Mortgage interest: −$10,642
• − Property taxes: −$1,468
• − Insurance: −$950
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − Depreciation: −$5,527
• Taxable income: $834
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $3,691/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: Sumter
• NCES district ID: 1201800
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $48,240
• Composite: 51.74/100
• National rank: #1682
• State rank: #11 of 73 in FL

Livability — Wildwood

• Score: 69/100
• State rank: #471
• US rank: #8500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wildwood, FL
• County: Sumter County · 110,591 people
• City population: 21,568
• Metro: The Villages, FL
• Population (ZIP): 21,568
• Household income: $66,136
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 730.0

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 161,172 people
• By 2030: 180,083 · +11.7%
• By 2040: 209,892 · +30.2%
• By 2050: 234,186 · +45.3%
• By 2075: 284,602 · +76.6%
• By 2100: 317,039 · +96.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 29% Hispanic / Latino 14% Two or more races 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 12% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Sumter

• 2024 margin: Solid R (+37.6) · D 30.9% · R 68.6%
• 2008→2024 swing: -10.6pp toward R · 2008: -27.0pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+36.1 2016: R+39.2 2012: R+34.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.14%
• Current HPI: 267.9137
• Rent YoY: ▲ 2.85%
• Metro: The Villages, FL
• 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

+233.3% since first listed

33 events — show timeline

• 2026-06-17 Listed $189,990 Stellar MLS as Distributed by MLS Grid
• 2026-04-12 Listed for Rent $1,599 STELLARMLS
• 2025-02-13 Rental Removed $1,695 STELLARMLS
• 2025-02-12 Price Changed $195,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-02-07 Price Changed $184,500 Stellar MLS as Distributed by MLS Grid
• 2025-01-24 Listed for Rent $1,695 STELLARMLS
• 2025-01-22 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-18 Price Changed $192,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-11 Price Changed $193,900 Stellar MLS as Distributed by MLS Grid
• 2025-01-02 Price Changed $194,900 Stellar MLS as Distributed by MLS Grid
• 2024-10-22 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2023-12-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-12-26 Listed $184,000 Stellar MLS as Distributed by MLS Grid
• 2023-11-19 Rental Removed $1,895 STELLARMLS
• 2023-11-15 Price Changed $1,895 STELLARMLS
• 2023-11-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-11-14 Listed for Rent $1,900 STELLARMLS
• 2023-11-13 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2023-11-09 Price Changed $169,900 Stellar MLS as Distributed by MLS Grid
• 2023-10-29 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2023-10-17 Price Changed $179,500 Stellar MLS as Distributed by MLS Grid
• 2023-10-05 Price Changed $179,900 Stellar MLS as Distributed by MLS Grid
• 2023-10-03 Price Changed $184,900 Stellar MLS as Distributed by MLS Grid
• 2023-10-02 Price Changed $189,500 Stellar MLS as Distributed by MLS Grid
• 2023-09-13 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-09 Price Changed $194,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-06 Price Changed $197,900 Stellar MLS as Distributed by MLS Grid
• 2023-09-05 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-08-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-08-04 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2023-04-21 Sold (Public Records) $81,000 Public Records
• 2007-11-06 Sold (Public Records) $57,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,468 · +0.2% YoY. Source: county tax records.