1811 Kate St · Palatka, FL 32177

$226,000

3 bd · 2.5 ba · 1,776 sqft · SingleFamily public records · 312 Days on market

Built 1915 0.31 ac lot Est $284k · 20% under

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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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

Key facts

• St johns river
• Palatka golf club
• 0.31 acre lot

Tags

• RAVINE GARDENS STATE PARK
• ST JOHNS RIVER
• PALATKA GOLF CLUB

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Carport; Detached carport with 2 carport spaces
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected
• Home design: Single-family residence; Currently used as a single-family home
• Construction: Metal roof
• Exterior features: Front porch with screened area; Full chain-link fencing; Paved road access

Interior

• Kitchen: Equipped with dishwasher, gas oven and gas range, microwave, and refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Laundry & utility: Unfurnished (no built-in or included laundry items listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $226k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $182k (19.5% below list).
• Recommended offer: $182k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.8% in Palatka — 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 58/100 on livability (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D, amenities F.
• Putnam (town): math 34% / reading 39% proficiency, ranked #66 of 73 in FL (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: William D. Moseley Elementary School (math 22% / reading 32%, grade F, #1,969 of 2,144 statewide, top 94%, 609 students, 75% FRL); Putnam Academy of Arts And Sciences (math 42% / reading 52%, grade D+, #291 of 571 statewide, top 52%, 177 students, 75% FRL, charter); Palatka Jr - Sr High School (math 13% / reading 30%, grade F, #546 of 667 statewide, top 82%, 1,639 students, 64% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• At $1,818/mo this rent would consume 46% of the median local household income ($48k/yr) (locally 806% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 312 days — a 12% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,834 (19.5% below list)

Questions for the listing agent

1. It's been on market 312 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $284,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2104 Crill Ave	0.40mi	3/2.5	1,806 (+2%)	3mo	$116,200	$64	76
1400 High St	0.25mi	4/3.0 (+1)	1,825 (+3%)	2mo	$290,000	$159	75
1407 Cleveland Ave Ave	0.29mi	4/2.0 (+1)	1,735 (-2%)	2mo	$319,500	$184	74
1325 River St	0.20mi	4/3.0 (+1)	1,662 (-6%)	6mo	$349,000	$210	68
2400 Crill Ave	0.45mi	3/2.0	1,867 (+5%)	2mo	$210,000	$112	67
1515 Husson Ave	0.48mi	4/3.0 (+1)	1,825 (+3%)	8mo	$292,900	$160	59
1411 Cleveland Ave Ave	0.29mi	3/2.0	1,560 (-12%)	8mo	$291,720	$187	58
1409 Cleveland Ave Ave	0.30mi	4/2.5 (+1)	2,039 (+15%)	1mo	$359,500	$176	56
1622 Husson Ave	0.59mi	4/3.0 (+1)	1,720 (-3%)	6mo	$300,000	$174	55
2505 State St	0.71mi	3/2.0	1,701 (-4%)	4mo	$148,000	$87	55
411 S 19th St	0.43mi	3/1.0	1,612 (-9%)	15mo	$205,000	$127	46
2114 Oak St	0.68mi	4/1.5 (+1)	1,880 (+6%)	14mo	$143,000	$76	38

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 · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.50×
• Total profit: $-31,359
• Equity at exit: $33,697

10-year hold

• IRR: -6.3%
• Equity multiple: 0.61×
• Total profit: $-24,698
• Equity at exit: $19,540

Cash invested: $63,280 (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 32177

• Home prices YoY: -28.1%
• Rents YoY: 2.2%
• Active inventory: 319
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,818 high
• Mortgage (P&I): −$1,185
• Tax from tax record: −$51 /mo · $609/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $106

Break-even live

Break-even rent $1,684

Max offer price $226,000

Occupancy floor 89%

Sensitivity live

Price	-10% $234	-5% $170	+0% $106	+5% $42	+10% $-22
Rent	-10% $-37	-5% $35	+0% $106	+5% $178	+10% $250
Rate	-1.0pp $220	-0.5pp $164	base $106	+0.5pp $48	+1.0pp $-12

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: $56,500
• Closing costs: $6,780
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2500 Westover Dr Palatka, FL	3.0	2.0	1935	$2,100	$1.09	5d	1	0.98mi
127 Crestwood Ave Palatka, FL	4.0	2.0	1674	$1,650	$0.99	19d	1	1.03mi
2406 Husson Ave Palatka, FL	3.0	2.0	1559	$1,900	$1.22	21d	1	1.14mi
313 Madison St Palatka, FL	4.0	2.0	1940	$1,900	$0.98	25d	1	1.26mi
509 Bronson St Palatka, FL	4.0	2.0	1260	$1,725	$1.37	5d	1	1.28mi

Listing history 36 events

1. 2026-06-18
   days on market $226,000 Active 312 DOM
2. 2026-06-17
   days on market $226,000 Active 311 DOM
3. 2026-06-16
   days on market $226,000 Active 310 DOM
4. 2026-06-15
   days on market $226,000 Active 309 DOM
5. 2026-06-13
   days on market $226,000 Active 307 DOM
6. 2026-06-10
   days on market $226,000 Active 303 DOM
7. 2026-06-08
   days on market $226,000 Active 302 DOM
8. 2026-06-07
   days on market $226,000 Active 301 DOM
9. 2026-06-05
   days on market $226,000 Active 298 DOM
10. 2026-06-03
    days on market $226,000 Active 297 DOM
11. 2026-06-02
    days on market $226,000 Active 296 DOM
12. 2026-06-01
    days on market $226,000 Active 295 DOM
13. 2026-05-31
    days on market $226,000 Active 294 DOM
14. 2026-04-08
    price $226,000
15. 2026-02-16
    price $228,000
16. 2025-10-10
    price $230,000
17. 2025-09-03
    price $239,000
18. 2025-08-25
    price $240,000
19. 2025-08-10
    listed $245,000 Active
20. 2023-08-11
    soldstatus $195,000
21. 2023-08-01
    soldstatus $195,000 Sold 821-char remark

    Show marketing remark (821 chars)

    Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

22. 2023-08-01
    soldstatus $195,000 Closed 821-char remark

    Show marketing remark (821 chars)

    Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

23. 2023-06-23
    historical Active Under Contract 821-char remark

    Show marketing remark (821 chars)

    Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

24. 2023-06-23
    status Pending 821-char remark

    Show marketing remark (821 chars)

    Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

25. 2023-06-13
    listed $199,999 Active 821-char remark

    Show marketing remark (821 chars)

    Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

26. 2023-06-13
    listed $199,999 Active 821-char remark

    Show marketing remark (821 chars)

    Welcome to 1811 Kate St, Palatka, Florida! This charming home offers three spacious bedrooms and two and a half bathrooms, providing ample space for comfortable living. Nestled in a desirable neighborhood, this property presents an excellent opportunity for a growing family or anyone seeking a peaceful retreat. As you step inside, you'll immediately feel at home in the open and inviting living area. The well-designed floor plan seamlessly connects the living room, dining area, and kitchen, creating a warm and welcoming atmosphere. The living room is a cozy haven, perfect for relaxing with loved ones Don't miss out on the opportunity to own this lovely home at 1811 Kate St. With its comfortable living spaces, desirable location, and potential for customization, it's the perfect place to create lasting memories.

27. 2014-12-17
    soldstatus $59,900
28. 2014-12-12
    soldstatus $59,900 Sold
29. 2014-10-28
    status Pending
30. 2014-10-15
    listed $59,900 Active
31. 2011-02-08
    historical
32. 2011-02-07
    soldstatus $66,000
33. 2011-02-04
    soldstatus $66,000
34. 2010-05-21
    listed $69,900
35. 1996-12-01
    soldstatus $45,000
36. 1996-06-27
    soldstatus $75,000

ⓘ 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: $609 · $51/mo
• Projected year-2 tax: $1,876 · $156/mo
• Expected delta: +$1,267/yr (+$106/mo · 207.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,820
• − Mortgage interest: −$12,660
• − Property taxes: −$609
• − Insurance: −$1,130
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$6,575
• Taxable loss: −$2,644
• Est. tax savings @ 24.0%: +$635
• After-tax cash flow: $1,911/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: Putnam
• NCES district ID: 1201620
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $33,350
• Composite: 29.99/100
• National rank: #6361
• State rank: #66 of 73 in FL

Livability — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palatka, FL
• County: Putnam County · 25,645 people
• City population: 25,645
• Metro: Palatka, FL
• Population (ZIP): 25,645
• Household income: $47,796
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 806.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 65,299 people
• By 2030: 61,255 · -6.2%
• By 2040: 52,930 · -18.9%
• By 2050: 45,051 · -31.0%
• By 2075: 28,720 · -56.0%
• By 2100: 15,852 · -75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 2% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -19.3pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+41.2 2016: R+36.6 2012: R+24.5 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.10%
• Current HPI: 223.1966
• Rent YoY: ▲ 2.23%
• Metro: Palatka, 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

+201.3% since first listed

23 events — show timeline

• 2026-04-08 Price Changed $226,000 realMLS
• 2026-02-16 Price Changed $228,000 realMLS
• 2025-10-10 Price Changed $230,000 realMLS
• 2025-09-03 Price Changed $239,000 realMLS
• 2025-08-25 Price Changed $240,000 realMLS
• 2025-08-10 Listed $245,000 realMLS
• 2023-08-11 Sold (Public Records) $195,000 Public Records
• 2023-08-01 Sold (MLS) $195,000 Beaches MLS
• 2023-08-01 Sold (MLS) $195,000 realMLS
• 2023-06-23 Contingent — Beaches MLS
• 2023-06-23 Pending — realMLS
• 2023-06-13 Listed $199,999 Beaches MLS
• 2023-06-13 Listed $199,999 realMLS
• 2014-12-17 Sold (Public Records) $59,900 Public Records
• 2014-12-12 Sold (MLS) $59,900 realMLS
• 2014-10-28 Pending — realMLS
• 2014-10-15 Listed $59,900 realMLS
• 2011-02-08 Listing Removed — realMLS
• 2011-02-07 Sold (Public Records) $66,000 Public Records
• 2011-02-04 Sold (MLS) $66,000 realMLS
• 2010-05-21 Listed $69,900 realMLS
• 1996-12-01 Sold (Public Records) $45,000 Public Records
• 1996-06-27 Sold (Public Records) $75,000 Public Records

Property tax history

-8.6%/yr

Latest (2025): $609 · +1.8% YoY. Source: county tax records.