823 S Warner Ave · Perry, FL 32348

$39,999

3 bd · 1.0 ba · 1,130 sqft · SingleFamily public records · 87 Days on market

Built 1929 0.94 ac lot $35/sqft · 54% below area ↓ 50% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FIXER IN PERRY ON ALMOST 1 ACRE CORNER LOT! This property consists of approximately 0.94 acres of land located in Taylor County, a rural area in Florida’s Big Bend region known for its forests, outdoor recreation, and small-town communities. The parcel includes a single family structure with 3 bedroom and 1 bathroom; however, the home is currently in poor condition and has an irregular or unfavorable layout/shape, which may require significant renovation or possible removal.

Key facts

• 0.94 acre lot
• Built 1929
• Listed 87 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.4% vs local median 3.6% in Perry — 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 70/100 on livability (#420 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Taylor (rural): math 44% / reading 42% proficiency, ranked #59 of 73 in FL (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 149 active listings in the ZIP; 48 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Taylor County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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.

Recommended offer $37,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.72% ✓
• Cap rate: 23.37%
• Cash-on-cash: 60.98%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (median comp): $86,778
• List price: $39,999
• Delta: -53.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1341 Us Highway 98 W	0.58mi	3/1.5	1,100 (-3%)	4mo	$79,999	$73	63
112 Pate St	0.47mi	3/2.0	1,016 (-10%)	9mo	$212,000	$209	50
303 Sandra St	0.54mi	4/2.0 (+1)	1,200 (+6%)	8mo	$81,000	$68	49
105 Goff St	0.70mi	3/1.0	988 (-13%)	8mo	$148,000	$150	39
1517 S Campbell St	0.69mi	3/2.0	990 (-12%)	9mo	$132,000	$133	36
1540 W Us 98	0.68mi	2/1.0 (-1)	1,045 (-8%)	18mo	$65,000	$62	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 2.80×
• Total profit: $20,203
• Equity at exit: $5,964

10-year hold

• IRR: 48.1%
• Equity multiple: 5.67×
• Total profit: $52,282
• Equity at exit: $3,458

Cash invested: $11,200 (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 32348

• Home prices YoY: -15.3%
• Active inventory: 149
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$64 /mo · $769/yr
• Insurance: −$17
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $417

Break-even live

Break-even rent $560

Max offer price $39,999

Occupancy floor 57%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $39,999 Active 87 DOM
2. 2026-06-17
   days on market $39,999 Active 86 DOM
3. 2026-06-16
   days on market $39,999 Active 85 DOM
4. 2026-06-15
   days on market $39,999 Active 84 DOM
5. 2026-06-13
   days on market $39,999 Active 82 DOM
6. 2026-06-13
   days on market $39,999 Active 81 DOM
7. 2026-06-09
   days on market $39,999 Active 78 DOM
8. 2026-06-08
   days on market $39,999 Active 77 DOM
9. 2026-06-07
   days on market $39,999 Active 76 DOM
10. 2026-06-05
    days on market $39,999 Active 73 DOM
11. 2026-06-03
    days on market $39,999 Active 72 DOM
12. 2026-06-02
    days on market $39,999 Active 71 DOM
13. 2026-06-01
    days on market $39,999 Active 70 DOM
14. 2026-05-31
    days on market $39,999 Active 69 DOM
15. 2026-05-18
    price $39,999 485-char remark

    Show marketing remark (485 chars)

    FIXER IN PERRY ON ALMOST 1 ACRE CORNER LOT! This property consists of approximately 0.94 acres of land located in Taylor County, a rural area in Florida’s Big Bend region known for its forests, outdoor recreation, and small-town communities. The parcel includes a single family structure with 3 bedroom and 1 bathroom; however, the home is currently in poor condition and has an irregular or unfavorable layout/shape, which may require significant renovation or possible removal.

16. 2026-04-13
    price $40,000 485-char remark

    Show marketing remark (485 chars)

    FIXER IN PERRY ON ALMOST 1 ACRE CORNER LOT! This property consists of approximately 0.94 acres of land located in Taylor County, a rural area in Florida’s Big Bend region known for its forests, outdoor recreation, and small-town communities. The parcel includes a single family structure with 3 bedroom and 1 bathroom; however, the home is currently in poor condition and has an irregular or unfavorable layout/shape, which may require significant renovation or possible removal.

17. 2026-04-07
    price $45,000 485-char remark

    Show marketing remark (485 chars)

    FIXER IN PERRY ON ALMOST 1 ACRE CORNER LOT! This property consists of approximately 0.94 acres of land located in Taylor County, a rural area in Florida’s Big Bend region known for its forests, outdoor recreation, and small-town communities. The parcel includes a single family structure with 3 bedroom and 1 bathroom; however, the home is currently in poor condition and has an irregular or unfavorable layout/shape, which may require significant renovation or possible removal.

18. 2026-03-23
    listed $70,000 Active 485-char remark

    Show marketing remark (485 chars)

    FIXER IN PERRY ON ALMOST 1 ACRE CORNER LOT! This property consists of approximately 0.94 acres of land located in Taylor County, a rural area in Florida’s Big Bend region known for its forests, outdoor recreation, and small-town communities. The parcel includes a single family structure with 3 bedroom and 1 bathroom; however, the home is currently in poor condition and has an irregular or unfavorable layout/shape, which may require significant renovation or possible removal.

19. 2025-11-28
    historical
20. 2025-08-08
    price $74,999
21. 2025-06-25
    listed $80,000 Active

ⓘ 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: $769 · $64/mo
• Projected year-2 tax: $769 · $64/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 8/10 Severe FEMA zone AH · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,059
• − Mortgage interest: −$2,241
• − Property taxes: −$769
• − Insurance: −$2,024
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,164
• Taxable income: $4,771
• Est. tax owed @ 24.0%: −$1,145
• After-tax cash flow: $3,860/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: Taylor
• NCES district ID: 1201860
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 42% ▼ -8.00%
• Median HH income: $36,539
• Composite: 35.71/100
• National rank: #4862
• State rank: #59 of 73 in FL

Livability — Perry

• Score: 70/100
• State rank: #420
• US rank: #7497

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perry, FL
• Population (ZIP): 12,498

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 21,562 people
• By 2030: 20,985 · -2.7%
• By 2040: 19,823 · -8.1%
• By 2050: 18,628 · -13.6%
• By 2075: 15,609 · -27.6%
• By 2100: 11,338 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 30% Hispanic / Latino 5% Two or more races 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 5% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+59.6) · D 19.9% · R 79.6%
• 2008→2024 swing: -20.6pp toward R · 2008: -39.0pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+53.8 2016: R+51.5 2012: R+38.3 2008: R+39.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.85%
• Current HPI: 159.8178
• 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

-50.0% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $39,999 Stellar MLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $40,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $45,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-23 Listed $70,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-28 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-08-08 Price Changed $74,999 Stellar MLS as Distributed by MLS Grid
• 2025-06-25 Listed $80,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $769 · +0.5% YoY. Source: county tax records.