2 bd · 2.0 ba ·
1,766 sqft ·
Built 1960
· SingleFamily
· Active
· 30 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,585/mo
Mortgage (P&I)
−$367
Tax + insurance
−$173
HOA
−$0
Vac / Maint / Mgmt
−$333
Net cashflow
$712/mo
Annual
$8,550/yr
Cap rate
18.51%
Cash-on-cash
43.63%
DSCR
2.94
1% rule
2.27%
Cash to close
$19,597
Investor read
This is a 2-bed/2.0-bath single-family listed at $70k.
At list price, monthly cash flow is $712 ($9k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $70k).
It's been on market 30 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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.
Market conditions: Rents rising (+3.2%/yr); 346 active listings in the ZIP; solid renter incomes; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).
At projected returns (-3.0% appreciation + 3.2% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 18.5% vs local median 4.3% in Crawfordville — 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.
Questions for listing agent
Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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?
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.
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.
CashFlowRE · CFR-3J61XHDSX9RYE9
· Data 3 weeks agocashflowre.app · 2026-05-29