401 Martin Luther King JR Ave · Wildwood, FL 34785

$182,500

3 bd · 2.0 ba · 1,500 sqft · SingleFamily public records · 463 Days on market

Built 1920 10,070 sqft lot Est $270k · 32% under

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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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +6.8/10.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PROPERTY JUST COMPLETED WITH RENOVATIONS. HOUSE IS A 3BEDROOM/2BATHROOM WITH 1,500SQFT. CALL WITH ANY QUESTIONS.

Key facts

• 0.23 acre lot
• Parking
• Built 1920

Tags

• RENOVATIONS JUST COMPLETED

Property features AI

Finance

• Other: Lot approximately 0.23 acres (about 53 x 190); Road surfaces: Asphalt and concrete; Property type: Residential (Single Family Residence); Zoning: RESI; Total building area approximately 1,800 sq ft
• HOA & community: No association indicated

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Sewer: Other; Other utilities
• Home design: Single family residence; One story; Northeast-facing
• Construction: Block and brick construction; Shingle roof; Slab foundation; Built with approximately 1,500 sq ft living area
• Exterior features: Sliding doors; Other exterior features

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Concrete; Laminate; Wood; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Ductless heating; Central air conditioning; Living room fireplace
• Interior features: Ceiling fans; Open floor plan; Sliding doors
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Recommended offer: $161k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 6 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 39% 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 $5k 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $51k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 463 days — a 12% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask has dropped $17k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $182k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $160,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 463 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 1920 — 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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $270,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 Oak St	0.46mi	2/2.0 (-1)	1,392 (-7%)	8mo	$200,000	$144	55
800 Kilgore St	0.32mi	4/2.0 (+1)	1,685 (+12%)	14mo	$224,000	$133	48
604 Lee St	0.66mi	3/2.0	1,386 (-8%)	17mo	$250,000	$180	42
301 Hazel St	0.50mi	3/2.0	1,302 (-13%)	23mo	$235,000	$180	35
607 Powell St	0.68mi	3/2.0	1,284 (-14%)	16mo	$249,900	$195	30
711 4th St	0.73mi	4/2.0 (+1)	1,719 (+15%)	17mo	$287,000	$167	23

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $5,144
• Equity at exit: $27,211

10-year hold

• IRR: 12.0%
• Equity multiple: 1.94×
• Total profit: $48,178
• Equity at exit: $15,779

Cash invested: $51,100 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,157 high
• Mortgage (P&I): −$957
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $551

Break-even live

Break-even rent $1,460

Max offer price $182,500

Occupancy floor 69%

Sensitivity live

Price	-10% $654	-5% $602	+0% $551	+5% $499	+10% $447
Rent	-10% $380	-5% $466	+0% $551	+5% $636	+10% $721
Rate	-1.0pp $643	-0.5pp $597	base $551	+0.5pp $503	+1.0pp $455

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.33mi
208 Mason St Wildwood, FL	2.0–3.0	1.0–2.0	2250	$1,975	$0.88	22d	2	0.38mi
706 Stanley Ave Wildwood, FL	3.0	2.0	1611	$2,300	$1.43	22d	1	0.85mi
6629 Dan DiCiolla Dr Wildwood, FL	1.0–3.0	1.0–2.5	1075	$2,399	$2.23	22d	44	1.16mi
3480 Kewadin Ave The Villages, FL	2.0	2.0	1758	$2,500	$1.42	22d	1	1.24mi
7011 Homestead Lp Wildwood, FL	1.0–3.0	1.0–2.0	998	$1,759	$1.76	22d	22	1.44mi

Listing history 30 events

1. 2026-06-19
   days on market $182,500 Active 463 DOM
2. 2026-06-18
   days on market $182,500 Active 462 DOM
3. 2026-06-17
   days on market $182,500 Active 461 DOM
4. 2026-06-16
   statusdays on market $182,500 Active 460 DOM
5. 2026-05-18
   status Pending
6. 2026-04-02
   price $182,500
7. 2026-03-11
   price $184,900
8. 2026-01-06
   status Active
9. 2025-12-31
   historical
10. 2025-12-12
    status Active
11. 2025-09-17
    status Pending
12. 2025-08-28
    status Active
13. 2025-08-25
    status Pending
14. 2025-07-18
    price $185,000
15. 2025-04-29
    status Active
16. 2025-04-18
    status Pending
17. 2025-02-26
    price $189,900
18. 2024-10-30
    listed $199,900 Active
19. 2024-01-25
    historical
20. 2023-06-06
    status Active
21. 2023-05-19
    status Pending
22. 2022-08-18
    listed $129,900 Active
23. 2022-05-20
    historical
24. 2022-05-17
    status Active
25. 2022-05-17
    price $119,900
26. 2022-05-12
    status Pending
27. 2022-04-21
    listed $125,000 Active
28. 2022-03-04
    soldstatus $90,000 Closed
29. 2021-07-28
    historical
30. 2021-07-22
    listed $49,900

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,515 · $126/mo
• Expected delta: +$73/yr (+$6/mo · 5.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 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: $25,883
• − Mortgage interest: −$10,223
• − Property taxes: −$1,442
• − Insurance: −$912
• − Repairs & maintenance: −$2,071
• − Management: −$2,071
• − Depreciation: −$5,309
• Taxable income: $3,855
• Est. tax owed @ 24.0%: −$925
• After-tax cash flow: $5,683/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

+265.7% since first listed

26 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $182,500 Stellar MLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $184,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-08-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-08-25 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-18 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-29 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-04-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-02-26 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2024-10-30 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2024-01-25 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-06-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-05-19 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-08-18 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2022-05-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2022-05-17 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-05-17 Price Changed $119,900 Stellar MLS as Distributed by MLS Grid
• 2022-05-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-21 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2022-03-04 Sold (MLS) $90,000 Stellar MLS as Distributed by MLS Grid
• 2021-07-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-07-22 Listed $49,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $1,442 · +2.3% YoY. Source: county tax records.