187 Shadeville Rd

Crawfordville, FL 32327

$299,000F

4 bd · 2.0 ba · 1,418 sqft · Built 2025 · Land · Active · 250 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,937/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$498
• HOA: −$0
• Vac / Maint / Mgmt: −$407
• Net cashflow: $-536/mo
• Annual: $-6,436/yr
• Cap rate: 4.14%
• Cash-on-cash: -7.69%
• DSCR: 0.66
• 1% rule: 0.65%
• Cash to close: $83,720

Investor read

• This is a 4-bed/2.0-bath land listed at $299k.
• At list price, monthly cash flow is $-536 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (26.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (35.2% below list).
• It's been on market 250 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (35.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#187 in FL, #2,943 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crawfordville Elementary School (math 65% / reading 65%, grade B+, #514 of 2,144 statewide, top 24%, 684 students, 42% FRL); Wakulla Middle School (math 55% / reading 52%, grade C+, #205 of 571 statewide, top 36%, 486 students, 41% FRL); Wakulla High School (math 42% / reading 51%, grade D-, #216 of 667 statewide, top 33%, 1,418 students, 37% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 346 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 250 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.