808 W Main St Unit n/a · Perry, FL 32347

$460,000

72 bd · 64.0 ba · 3,750 sqft · MultiFamily · 98 Days on market

Built 1948 Poor condition

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Turnkey 8-Unit Apartment Complex – 100% Occupied - Excellent investment opportunity featuring eight rental units across three solid concrete block buildings, offering durability and low maintenance. The property is 100% occupied with one-year leases in place and generates $6,025 in total monthly rental income, providing immediate and stable cash flow. The unit mix includes seven 1-bedroom/1-bath apartments and one 2-bedroom/1-bath apartment. Each apartment is equipped with a range and refrigerator, and tenants enjoy efficient climate control with two-year-old mini-split A/C systems installed in each room. Significant improvements have already been completed, including a new roof, new floor tile, fresh interior paint throughout, and a new water heater. Nearly all windows have been replaced, enhancing both energy efficiency and appearance. Ideally located near Doctors Memorial Hospital and the local shopping district, this property benefits from strong rental demand and convenient access to employment, healthcare, and retail. With major upgrades completed, full occupancy, and steady income, this property presents a strong, low-maintenance investment opportunity for both new and experienced investors. Available for sale individually or may be purchased with a nearby duplex property ($2200 monthly income) and a single-family home ($1100 monthly income) for $700,000. Tenant occupied. Property may be inspected after commencement of due diligence period. No sign or lockbox. Please do not disturb tenants.

Key facts

• New floor tile
• 100 percent occupied
• Fresh interior paint

Tags

• 8 UNIT APARTMENT COMPLEX
• 100 PERCENT OCCUPIED
• SOLID CONCRETE BLOCK BUILDINGS
• NEW ROOF
• NEW FLOOR TILE
• FRESH INTERIOR PAINT

What this means for you Summary

Snapshot

• This is a 7×1bd/1ba + 1×2bd/1ba units multifamily listed at $460k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $222/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $460k).
• Recommended offer: $419k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: 51 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 $3k of loan paydown is wiped out by about $14k 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 $129k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($419k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $418,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.55%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $38,664
• Equity at exit: $68,587

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $179,699
• Equity at exit: $39,772

Cash invested: $128,800 (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 32347

• Home prices YoY: -23.5%
• Active inventory: 51
• Price-to-rent: 49.2×

Monthly cashflow live

• Estimated rent: $6,272 medium
• Mortgage (P&I): −$2,412
• Tax est. 1.5%: −$575 /mo · $6,900/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,317
• Net cashflow: $1,776

Break-even live

Break-even rent $4,024

Max offer price $460,000

Occupancy floor 67%

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$5,460
1× unit	2	1	$814
Total (8 units)			$6,272

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $460,000 Active 98 DOM
2. 2026-06-17
   days on market $460,000 Active 97 DOM
3. 2026-06-16
   days on market $460,000 Active 96 DOM
4. 2026-06-15
   days on market $460,000 Active 95 DOM
5. 2026-06-13
   days on market $460,000 Active 93 DOM
6. 2026-06-13
   days on market $460,000 Active 92 DOM
7. 2026-06-09
   days on market $460,000 Active 89 DOM
8. 2026-06-08
   days on market $460,000 Active 88 DOM
9. 2026-06-07
   days on market $460,000 Active 87 DOM
10. 2026-06-05
    days on market $460,000 Active 84 DOM
11. 2026-06-03
    days on market $460,000 Active 83 DOM
12. 2026-06-02
    days on market $460,000 Active 82 DOM
13. 2026-06-01
    days on market $460,000 Active 81 DOM
14. 2026-05-31
    days on market $460,000 Active 80 DOM
15. 2026-03-11
    listed $460,000 Active 1528-char remark

    Show marketing remark (1528 chars)

    Turnkey 8-Unit Apartment Complex – 100% Occupied - Excellent investment opportunity featuring eight rental units across three solid concrete block buildings, offering durability and low maintenance. The property is 100% occupied with one-year leases in place and generates $6,025 in total monthly rental income, providing immediate and stable cash flow. The unit mix includes seven 1-bedroom/1-bath apartments and one 2-bedroom/1-bath apartment. Each apartment is equipped with a range and refrigerator, and tenants enjoy efficient climate control with two-year-old mini-split A/C systems installed in each room. Significant improvements have already been completed, including a new roof, new floor tile, fresh interior paint throughout, and a new water heater. Nearly all windows have been replaced, enhancing both energy efficiency and appearance. Ideally located near Doctors Memorial Hospital and the local shopping district, this property benefits from strong rental demand and convenient access to employment, healthcare, and retail. With major upgrades completed, full occupancy, and steady income, this property presents a strong, low-maintenance investment opportunity for both new and experienced investors. Available for sale individually or may be purchased with a nearby duplex property ($2200 monthly income) and a single-family home ($1100 monthly income) for $700,000. Tenant occupied. Property may be inspected after commencement of due diligence period. No sign or lockbox. Please do not disturb tenants.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $75,264
• − Mortgage interest: −$25,767
• − Property taxes: −$6,900
• − Insurance: −$2,300
• − Repairs & maintenance: −$6,021
• − Management: −$6,021
• − Depreciation: −$13,382
• Taxable income: $14,873
• Est. tax owed @ 24.0%: −$3,569
• After-tax cash flow: $17,742/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.

Condition & rehab AI · 8 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its roof, exterior, flooring, interior walls, and HVAC systems. Immediate action is needed to improve the home's condition and increase its value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible damage and wear.
• Major exterior siding — The exterior siding and paint are in poor condition, with visible wear and tear.
• Major flooring — The flooring appears to be in poor condition, with visible wear and tear.
• Major interior walls — The interior walls appear to be in poor condition, with visible wear and tear.
• Major HVAC/mechanicals — The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.

Value-add opportunities

• Both new roof — A new roof would significantly improve the home's appearance and functionality, increasing both resale and rental value.
• Both exterior siding and paint — Updating the exterior siding and paint would improve the home's curb appeal and increase both resale and rental value.
• Both flooring — Replacing the flooring would improve the home's appearance and functionality, increasing both resale and rental value.
• Both interior walls — Repainting or updating the interior walls would improve the home's appearance and functionality, increasing both resale and rental value.
• Both HVAC/mechanicals — Upgrading the HVAC and mechanical systems would improve the home's functionality and energy efficiency, increasing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible damage and wear.	Major	$15,000–50,000
exterior siding · The exterior siding and paint are in poor condition, with visible wear and tear.	Major	$15,000–50,000
flooring · The flooring appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls · The interior walls appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
HVAC/mechanicals · The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both new roof — A new roof would significantly improve the home's appearance and functionality, increasing both resale and rental value. ↑
• Both exterior siding and paint — Updating the exterior siding and paint would improve the home's curb appeal and increase both resale and rental value. ↑
• Both flooring — Replacing the flooring would improve the home's appearance and functionality, increasing both resale and rental value. ↑
• Both interior walls — Repainting or updating the interior walls would improve the home's appearance and functionality, increasing both resale and rental value. ↑
• Both HVAC/mechanicals — Upgrading the HVAC and mechanical systems would improve the home's functionality and energy efficiency, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 7,174

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: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Black 7% Hispanic / Latino 3% Native American 1% Pacific Islander 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -56.08%
• Current HPI: 182.6827
• 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

1 event — show timeline

• 2026-03-11 Listed $460,000 CATRS