746 SE Putnam St · Lake City, FL 32025

$68,000

3 bd · 2.0 ba · 1,244 sqft · SingleFamily public records · 14 Days on market

Built 1950 Fair condition 6,534 sqft lot $55/sqft · 49% below area Est $132k · 49% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Investor special! 3/2 SFR located in town with convenient access to shopping, schools and major roadways. This fixer upper offers great potential for renovation and customization! Solid opportunity for investors, flippers or buyers looking to create their own vision! Bring your ideas and transform this property into something special!CASH ONLY!!!

Key facts

• 6,534 sq ft lot
• Built 1950
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $68k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $745 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Cap rate 19.4% vs local median 3.7% in Lake City — 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 73/100 on livability (#304 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Columbia (town): math 53% / reading 54% proficiency, ranked #25 of 73 in FL (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Melrose Park Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 398 students, 84% FRL); Columbia High School (math 28% / reading 45%, grade F, #351 of 667 statewide, top 54%, 1,737 students, 50% FRL).
• Zoned-school proficiency averages 33% at this address vs 54% district-wide (-20 pts) — the specific schools serving this property underperform the Columbia average; the district grade overstates school quality for this exact location.
• Market conditions: 195 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($470 loan paydown + $7k appreciation (10.0% local appreciation)).
• Columbia County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1950 — 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 $68,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.51% ✓
• Cap rate: 19.44%
• Cash-on-cash: 46.97%
• DSCR: 3.09
• GRM: 3.3

CMA / ARV

• ARV (median comp): $132,489
• List price: $68,000
• Delta: -48.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
746 SE Putnam St	0.00mi	3/2.0	1,244 (0%)	3mo	$68,000	$55	97
1047 SE Putnam St	0.30mi	3/2.5	1,256 (+1%)	6mo	$76,500	$61	77
823 NE Elsey Pl	0.32mi	3/2.0	1,236 (-1%)	8mo	$265,000	$214	77
353 SE Mccray Ave	0.27mi	3/2.0	1,118 (-10%)	3mo	$210,000	$188	68
849 NE Maple Ln	0.44mi	3/2.0	1,180 (-5%)	4mo	$95,000	$81	68
246 SE Lochlynn Ter	0.39mi	3/2.0	1,340 (+8%)	9mo	$259,000	$193	61
425 SE Saint Johns St	0.37mi	2/1.0 (-1)	1,133 (-9%)	1mo	$161,000	$142	58
211 NE Bradley Ter	0.39mi	4/2.0 (+1)	1,136 (-9%)	6mo	$125,000	$110	57
929 NE Maple Ln	0.46mi	2/1.0 (-1)	1,140 (-8%)	2mo	$35,000	$31	54
384 S Marion Ave	0.67mi	3/1.0	1,314 (+6%)	4mo	$148,000	$113	52
492 SE Lomond Ave	0.45mi	3/1.0	1,390 (+12%)	9mo	$112,500	$81	48
627 NE Washington St	0.65mi	2/2.0 (-1)	1,058 (-15%)	9mo	$132,000	$125	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 61.1%
• Equity multiple: 5.44×
• Total profit: $84,607
• Equity at exit: $61,260

10-year hold

• IRR: 54.6%
• Equity multiple: 12.14×
• Total profit: $212,042
• Equity at exit: $132,109

Cash invested: $19,040 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 10 under contract
• Months of supply: 7.3 mo (14%/mo absorbed)
• Median asking: $169,950 ($129/sqft)
• Median days on market: 184 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: -17.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32025

• Home prices YoY: 6.8%
• Active inventory: 195
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$357
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $745

Break-even live

Break-even rent $764

Max offer price $68,000

Occupancy floor 51%

Sensitivity live

Price	-10% $784	-5% $764	+0% $745	+5% $726	+10% $707
Rent	-10% $610	-5% $678	+0% $745	+5% $813	+10% $880
Rate	-1.0pp $779	-0.5pp $763	base $745	+0.5pp $728	+1.0pp $710

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: $17,000
• Closing costs: $2,040
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 SE Castillo Ter #101 Lake City, FL	2.0	1.0	912	$1,400	$1.54	1d	1	0.22mi
589 SE Saint Johns St Lake City, FL	3.0	2.0	1374	$1,850	$1.35	5d	1	0.23mi
643 NE Davis Ave Lake City, FL	1.0–2.0	1.0–2.0	772	$1,066	$1.38	1d	33	0.89mi
138 NE Alpha Ter Lake City, FL	3.0	1.0	1100	$1,500	$1.36	1d	1	1.07mi
201 SE Beech St Unit 104 Lake City, FL	2.0	1.0	716	$895	$1.25	1d	1	1.12mi
407 NW Wilson St Lake City, FL	3.0	1.0	950	$1,400	$1.47	5d	1	1.26mi
723 NW Palm Dr Lake City, FL	3.0	2.0	1330	$2,300	$1.73	5d	1	1.40mi

Property features AI

Exterior

• Home design: Single-story residential home
• Construction: Metal roof
• Exterior features: Covered patio/porchChain link fencingShed(s)

Interior

• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingElectric heatingCentral air conditioning
• Interior features: Vinyl flooringCentral heatingElectric heatingCentral air conditioning

Listing history 9 events

1. 2026-06-08
   days on market $68,000 Active 14 DOM
2. 2026-06-07
   days on market $68,000 Active 13 DOM
3. 2026-06-05
   days on market $68,000 Active 10 DOM
4. 2026-06-03
   days on market $68,000 Active 9 DOM
5. 2026-06-02
   days on market $68,000 Active 8 DOM
6. 2026-06-01
   days on market $68,000 Active 7 DOM
7. 2026-05-31
   days on market $68,000 Active 6 DOM
8. 2026-05-30
   days on market $68,000 Active 5 DOM
9. 2026-05-25
   listed $68,000 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: $2,626 · $219/mo
• Projected year-2 tax: $2,626 · $219/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,491
• − Mortgage interest: −$3,809
• − Property taxes: −$2,626
• − Insurance: −$340
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$1,978
• Taxable income: $8,459
• Est. tax owed @ 24.0%: −$2,030
• After-tax cash flow: $6,913/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $31,100–$55,980 screening

This fixer-upper requires significant repairs and maintenance, including roof, exterior siding, and landscaping. Potential for substantial value increase with proper renovations.

Deferred maintenance Est. $30,000–$90,000 screening

• Major Roof (roof) — The roof appears to be missing or damaged, indicating a major issue that needs immediate attention.
• Major Windows (windows) — The windows seem to be in poor condition, possibly due to age or exposure, indicating a major issue that needs immediate attention.
• Major Exterior (exterior) — The exterior of the house shows significant wear and tear, with visible damage and deterioration, indicating a major issue that needs immediate attention.

Repairs flagged

• Major roof — Significant vegetation overhang and potential damage.
• Major exterior siding — Peeling paint and potential rot.
• Major exterior fencing — Visible rust and wear.
• Major landscaping — Overgrown vegetation and lack of landscaping.
• Major exterior paint — Peeling paint and potential rot on exterior siding.

Value-add opportunities

• Both landscaping and exterior painting — Enhances curb appeal and property value. ↑
• Both roof repair — Fixes potential structural issues and improves property value. ↑
• Both exterior siding repair — Improves the home's appearance and value. ↑
• Both fencing repair — Enhances property security and aesthetics. ↑
• Both exterior painting — Enhances the home's appearance and value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Melrose Park Elementary School F FL #1,896/2,144 Nat'l #26,716/41,679 High Columbia High School F FL #351/667 Nat'l #9,347/17,239

Schools (NCES district)

• District: Columbia
• NCES district ID: 1200360
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $40,053
• Composite: 44.74/100
• National rank: #2750
• State rank: #25 of 73 in FL

B Composite livability gradescore 73/100

Livability — Lake City

• Score: 73/100
• State rank: #304
• US rank: #5154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake City, FL
• County: Columbia County · 68,129 people
• City population: 40,507
• Metro: Lake City, FL
• Population (ZIP): 22,948
• Household income: $55,004
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 7% of renters

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Population outlook (Columbia County) Hauer SSP2

• Today (2025): 68,129 people
• By 2030: 67,501 · -0.9%
• By 2040: 65,465 · -3.9%
• By 2050: 63,058 · -7.4%
• By 2075: 56,291 · -17.4%
• By 2100: 45,243 · -33.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Serbian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2%

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Political lean MEDSL · Columbia

• 2024 margin: Solid R (+50.2) · D 24.6% · R 74.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -33.8pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+45.2 2016: R+44.5 2012: R+36.7 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.57%
• Current HPI: 276.7253
• Rent YoY: —
• Metro: Lake City, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Exterior

• Home design: Single-story residential home
• Construction: Metal roof
• Exterior features: Covered patio/porchChain link fencingShed(s)

Interior

• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingElectric heatingCentral air conditioning
• Interior features: Vinyl flooringCentral heatingElectric heatingCentral air conditioning

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-17 Sold (MLS) $68,000 NFMLS
• 2026-05-25 Listed $68,000 NFMLS

Property tax history

+15.3%/yr

Latest (2025): $2,626 · +511.9% YoY. Source: county tax records.