948 SW Grandview St · Lake City, FL 32025

$254,900

3 bd · 2.0 ba · 1,246 sqft · SingleFamily public records · 112 Days on market

Built 1997 0.31 ac lot Est $248k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +6.2/15.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.6/10.0

Listing remarks MLS

Cozy, well kept 3/2 home in Richmond Estates. This home offers plenty of space. New shingle roof. New carpet. New refrigerator, new stove, new OTR microwave. Updated baths. Sprinkler system. Ready to move in. Located right in town, in a quiet, well-established neighborhood convenient to everything. Southside Sports Complex including soccer fields within walking distance for children to enjoy and play! Great location Call for your private showing.

Key facts

• Updated in 2018
• 0.31 acre lot
• 2 garage spots

Tags

• UPDATED IN 2018

Property features AI

Exterior

• Parking: 2-car garage with garage door opener
• Home design: Residential property; Single-story
• Construction: Block construction; Shingle roof; Slab foundation; Built on a 0.31-acre lot
• Exterior features: Screened patio/porch

Interior

• Kitchen: Dishwasher; Electric cooktop; Refrigerator; Microwave
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Dishwasher; Electric cooktop; Refrigerator; Microwave

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-317 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (21.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (29.8% below list).
• Recommended offer: $179k (29.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.8% in Lake City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#304 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Columbia (town): math 53% / reading 54% proficiency, ranked #25 of 73 in FL (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Summers Elementary School (math 59% / reading 55%, grade C+, #781 of 2,144 statewide, top 38%, 517 students, 76% FRL); Columbia High School (math 28% / reading 45%, grade F, #351 of 667 statewide, top 54%, 1,737 students, 50% FRL).
• Market conditions: 146 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Columbia County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $122k; list at $255k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $179,030 (29.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.32%
• DSCR: 0.76
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $247,954
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
855 SW Brookdale Dr	0.12mi	3/2.0	1,238 (-1%)	14mo	$259,000	$209	82
1135 SW Fairfax Gln	0.20mi	3/2.0	1,322 (+6%)	1mo	$229,000	$173	80
880 SW Cherub Gln	0.12mi	3/2.0	1,355 (+9%)	6mo	$279,000	$206	74
1203 SW Fairfax Gln	0.27mi	3/2.0	1,200 (-4%)	13mo	$216,753	$181	70
1188 SW Mcfarlane Ave	0.13mi	3/2.0	1,400 (+12%)	4mo	$280,000	$200	70
1085 SW Fairfax Gln	0.16mi	3/2.0	1,372 (+10%)	8mo	$254,000	$185	69
1202 SW Jamestown Gln	0.30mi	2/2.0 (-1)	1,204 (-3%)	8mo	$239,000	$199	68
1115 SW Jaguar Dr	0.52mi	3/2.0	1,176 (-6%)	13mo	$260,000	$221	56
1175 SW Yorktown Gln	0.28mi	3/2.0	1,394 (+12%)	14mo	$265,000	$190	55
302 SW Short Ln	0.64mi	3/1.0	1,360 (+9%)	3mo	$150,000	$110	48
1554 SW Caroline Ct	0.43mi	3/2.0	1,378 (+11%)	17mo	$325,000	$236	48
1603 SW Saint James Ct	0.45mi	3/2.0	1,415 (+14%)	10mo	$240,000	$170	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 20.5%
• Equity multiple: 2.66×
• Total profit: $118,664
• Equity at exit: $229,634

10-year hold

• IRR: 18.7%
• Equity multiple: 6.12×
• Total profit: $365,323
• Equity at exit: $495,215

Cash invested: $71,372 (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 32025

• Home prices YoY: 6.8%
• Active inventory: 146
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,790 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$288 /mo · $3,457/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $-317

Break-even live

Break-even rent $2,191

Max offer price $198,957

Occupancy floor —

Sensitivity live

Price	-10% $-172	-5% $-245	+0% $-317	+5% $-389	+10% $-461
Rent	-10% $-458	-5% $-387	+0% $-317	+5% $-246	+10% $-175
Rate	-1.0pp $-188	-0.5pp $-252	base $-317	+0.5pp $-383	+1.0pp $-450

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $254,900 Active 112 DOM
2. 2026-06-21
   days on market $254,900 Active 111 DOM
3. 2026-06-19
   days on market $254,900 Active 109 DOM
4. 2026-06-18
   days on market $254,900 Active 108 DOM
5. 2026-06-17
   days on market $254,900 Active 107 DOM
6. 2026-06-16
   days on market $254,900 Active 106 DOM
7. 2026-06-15
   days on market $254,900 Active 105 DOM
8. 2026-06-14
   days on market $254,900 Active 103 DOM
9. 2026-06-12
   days on market $254,900 Active 102 DOM
10. 2026-06-09
    days on market $254,900 Active 99 DOM
11. 2026-06-08
    days on market $254,900 Active 98 DOM
12. 2026-06-07
    days on market $254,900 Active 97 DOM
13. 2026-06-05
    days on market $254,900 Active 94 DOM
14. 2026-06-03
    days on market $254,900 Active 93 DOM
15. 2026-06-02
    days on market $254,900 Active 92 DOM
16. 2026-06-01
    days on market $254,900 Active 91 DOM
17. 2026-05-31
    days on market $254,900 Active 90 DOM
18. 2026-05-30
    days on market $254,900 Active 89 DOM
19. 2026-03-03
    listed $254,900 Active
20. 2018-08-20
    soldstatus $122,000
21. 2018-07-12
    soldstatus $122,000 450-char remark

    Show marketing remark (450 chars)

    Cozy, well kept 3/2 home in Richmond Estates. This home offers plenty of space. New shingle roof. New carpet. New refrigerator, new stove, new OTR microwave. Updated baths. Sprinkler system. Ready to move in. Located right in town, in a quiet, well-established neighborhood convenient to everything. Southside Sports Complex including soccer fields within walking distance for children to enjoy and play! Great location Call for your private showing.

22. 2004-04-30
    soldstatus $106,800
23. 2004-04-27
    soldstatus $106,800
24. 1997-07-01
    soldstatus $71,900
25. 1997-01-01
    soldstatus $21,800

ⓘ 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: $3,457 · $288/mo
• Projected year-2 tax: $3,457 · $288/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 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 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,484
• − Mortgage interest: −$14,278
• − Property taxes: −$3,457
• − Insurance: −$1,274
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$7,415
• Taxable loss: −$8,379
• Est. tax savings @ 24.0%: +$2,011
• After-tax cash flow: $-1,789/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: Columbia
• NCES district ID: 1200360
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $40,053
• Composite: 44.74/100
• National rank: #2750
• State rank: #25 of 73 in FL

Livability — Lake City

• Score: 73/100
• State rank: #304
• US rank: #5154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake City, FL
• County: Columbia County · 40,507 people
• City population: 40,507
• Metro: Lake City, FL
• Population (ZIP): 22,948
• Household income: $55,004
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 754.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 68,129 people
• By 2030: 67,501 · -0.9%
• By 2040: 65,465 · -3.9%
• By 2050: 63,058 · -7.4%
• By 2075: 56,291 · -17.4%
• By 2100: 45,243 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Serbian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+50.2) · D 24.6% · R 74.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -33.8pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+45.2 2016: R+44.5 2012: R+36.7 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.57%
• Current HPI: 276.7253
• Rent YoY: —
• Metro: Lake City, 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

+1069.3% since first listed

7 events — show timeline

• 2026-03-03 Listed $254,900 NFMLS
• 2018-08-20 Sold (Public Records) $122,000 Public Records
• 2018-07-12 Sold (MLS) $122,000 NFMLS
• 2004-04-30 Sold (Public Records) $106,800 Public Records
• 2004-04-27 Sold (Public Records) $106,800 Public Records
• 1997-07-01 Sold (Public Records) $71,900 Public Records
• 1997-01-01 Sold (Public Records) $21,800 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,457 · +6.9% YoY. Source: county tax records.