66 NE 639th St · Fanning Springs, FL 32680

$189,900

3 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 33 Days on market

Built 1986 5.00 ac lot

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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 +15.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.2/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Remodeled home with Acreage in Quiet Old Town. Near all the fishing and coastal activities. Great deal. Bring all offers! Clay Go Kart Track on property, Owner will leave or remove.

Key facts

• Big primary bathroom
• Open living room
• Rv storage

Tags

• 5 ACRE PROPERTY
• OPEN LIVING ROOM
• BIG PRIMARY BATHROOM
• CONCRETE BARN
• RV STORAGE

Property features AI

Finance

• Other: Property zoned SFR
• Financial info: No lease restrictions; Unfurnished
• HOA & community: No HOA/association

Exterior

• Parking: No parking details provided
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Single-family residence; Residential property; One story; Faces east; Entry level: One
• Construction: Frame construction; Metal roof; Slab foundation; Built on a 5-acre lot
• Exterior features: Limerock road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: No interior features listed
• Laundry & utility: Laundry features: Other

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $68 ($821/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (17.8% below list).
• Recommended offer: $156k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.7% in Fanning Springs — 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 63/100 on livability (#739 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, schools F, amenities F.
• Dixie (rural): math 52% / reading 50% proficiency, ranked #36 of 73 in FL (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 262 active listings in the ZIP; 49 units permitted in Dixie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Dixie County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $135k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe 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 $156,169 (17.8% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.54%
• DSCR: 1.07
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.4%
• Equity multiple: 3.03×
• Total profit: $107,713
• Equity at exit: $171,077

10-year hold

• IRR: 22.3%
• Equity multiple: 6.90×
• Total profit: $313,639
• Equity at exit: $368,934

Cash invested: $53,172 (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 32680

• Home prices YoY: 2.5%
• Active inventory: 262
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,562 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$90 /mo · $1,085/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $68

Break-even live

Break-even rent $1,475

Max offer price $189,900

Occupancy floor 91%

Sensitivity live

Price	-10% $176	-5% $122	+0% $68	+5% $15	+10% $-39
Rent	-10% $-55	-5% $7	+0% $68	+5% $130	+10% $192
Rate	-1.0pp $164	-0.5pp $117	base $68	+0.5pp $19	+1.0pp $-31

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-17
   status $189,900 Pending 33 DOM
2. 2026-06-16
   days on market $189,900 Active 33 DOM
3. 2026-06-15
   days on market $189,900 Active 32 DOM
4. 2026-06-13
   days on market $189,900 Active 30 DOM
5. 2026-06-12
   days on market $189,900 Active 29 DOM
6. 2026-06-09
   days on market $189,900 Active 26 DOM
7. 2026-06-08
   days on market $189,900 Active 25 DOM
8. 2026-06-07
   days on market $189,900 Active 24 DOM
9. 2026-06-07
   days on market $189,900 Active 23 DOM
10. 2026-06-04
    days on market $189,900 Active 20 DOM
11. 2026-06-02
    days on market $189,900 Active 19 DOM
12. 2026-06-01
    days on market $189,900 Active 18 DOM
13. 2026-05-31
    days on market $189,900 Active 17 DOM
14. 2026-05-31
    days on market $189,900 Active 16 DOM
15. 2026-05-14
    listed $189,900 Active
16. 2012-08-31
    soldstatus $135,000
17. 2012-08-24
    soldstatus $135,000 181-char remark

    Show marketing remark (181 chars)

    Remodeled home with Acreage in Quiet Old Town. Near all the fishing and coastal activities. Great deal. Bring all offers! Clay Go Kart Track on property, Owner will leave or remove.

18. 2011-12-22
    listed $139,900 181-char remark

    Show marketing remark (181 chars)

    Remodeled home with Acreage in Quiet Old Town. Near all the fishing and coastal activities. Great deal. Bring all offers! Clay Go Kart Track on property, Owner will leave or remove.

ⓘ 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: $1,085 · $90/mo
• Projected year-2 tax: $1,576 · $131/mo
• Expected delta: +$492/yr (+$41/mo · 45.3%)

ⓘ 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 8/10 Severe
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,740
• − Mortgage interest: −$10,637
• − Property taxes: −$1,085
• − Insurance: −$950
• − Repairs & maintenance: −$1,499
• − Management: −$1,499
• − Depreciation: −$5,524
• Taxable loss: −$2,454
• Est. tax savings @ 24.0%: +$589
• After-tax cash flow: $1,409/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: Dixie
• NCES district ID: 1200450
• Math proficiency: 52% ▼ -3.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $34,799
• Composite: 42.18/100
• National rank: #3290
• State rank: #36 of 73 in FL

Livability — Fanning Springs

• Score: 63/100
• State rank: #739
• US rank: #15960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,445

Population outlook (Dixie County) Hauer SSP2

• Today (2025): 15,122 people
• By 2030: 14,521 · -4.0%
• By 2040: 13,503 · -10.7%
• By 2050: 12,671 · -16.2%
• By 2075: 10,857 · -28.2%
• By 2100: 8,344 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Dixie

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -25.4pp toward R · 2008: -45.0pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+66.0 2016: R+63.2 2012: R+46.9 2008: R+45.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.22%
• Current HPI: 424.0037
• Rent YoY: —
• Metro: —
• 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

+35.7% since first listed

4 events — show timeline

• 2026-05-14 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2012-08-31 Sold (Public Records) $135,000 Public Records
• 2012-08-24 Sold (MLS) $135,000 Stellar MLS as Distributed by MLS Grid
• 2011-12-22 Listed $139,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $1,085 · +4.2% YoY. Source: county tax records.