1814 Locust Ave · Palatka, FL 32177

$174,900

2 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 82 Days on market

Built 1964 8,276 sqft lot Est $178k · at est.

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +8.2/15.0
• DSCR +4.4/10.0
• 1% rule +3.4/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated concrete block home offering peace of mind and modern updates throughout. This move-in ready property features a new roof, new kitchen cabinets, new countertops, and brand-new stainless steel appliances. The home has been updated with a completely remodeled bathroom, luxury vinyl plank flooring throughout, and fresh interior and exterior paint. Additional upgrades include a new water heater and new fixtures. The seller will repair or replace HVAC system prior to closing. Conveniently located with easy access to local shopping, dining, and major roadways. This is a great opportunity for a first-time buyer or investor looking for a turnkey rental. Come see today!

Key facts

• Remodeled bathroom
• New kitchen cabinets
• New countertops

Tags

• NEW ROOF
• NEW KITCHEN CABINETS
• NEW COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• REMODELED BATHROOM
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• HOA & community: Senior community

Exterior

• Parking: Other parking
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; One story
• Construction: Block construction
• Exterior features: Screened porch; Side porch; Shingle roof; County road frontage; Asphalt road surface; Lot approximately 0.19 acres

Interior

• Kitchen: Includes dishwasher, electric range, microwave, refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher; Electric range; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-27 ($-321/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (16.3% below list).
• Recommended offer: $146k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: schools C-, health & safety C-, crime D.
• 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.
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 82 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $48k; list at $175k implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,341 (16.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.84% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $177,521
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1922 Locust Ave	0.10mi	2/1.0	984 (-7%)	7mo	$179,950	$183	77
1906 Roselle Ave	0.09mi	3/1.0 (+1)	1,000 (-6%)	10mo	$106,000	$106	73
2114 Westover Dr	0.17mi	3/1.0 (+1)	1,146 (+8%)	3mo	$184,900	$161	72
1604 Husson Ave	0.22mi	3/1.0 (+1)	1,118 (+5%)	5mo	$182,000	$163	71
1624 Roselle Ave	0.12mi	2/1.0	1,150 (+8%)	11mo	$165,000	$143	71
2007 Sherman Ave	0.16mi	3/1.0 (+1)	960 (-10%)	7mo	$196,000	$204	66
3420 S Palm Ave	0.65mi	3/1.0 (+1)	1,083 (+2%)	2mo	$40,000	$37	60
1614 High St	0.34mi	3/2.0 (+1)	1,134 (+7%)	10mo	$215,000	$190	56
2103 Campbell St	0.41mi	3/1.5 (+1)	1,196 (+12%)	14mo	$200,000	$167	42
1625 S Palm Ave	0.48mi	3/2.0 (+1)	1,204 (+13%)	7mo	$201,900	$168	40
116 Dellwood Ave	0.60mi	3/1.5 (+1)	1,212 (+14%)	2mo	$135,000	$111	40
2418 Husson Ave	0.59mi	3/2.0 (+1)	1,214 (+14%)	10mo	$219,000	$180	32

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: -18.2%
• Equity multiple: 0.36×
• Total profit: $-31,164
• Equity at exit: $26,078

10-year hold

• IRR: -12.0%
• Equity multiple: 0.31×
• Total profit: $-33,852
• Equity at exit: $15,122

Cash invested: $48,972 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$917
• Tax from tax record: −$126 /mo · $1,516/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-27

Break-even live

Break-even rent $1,497

Max offer price $170,174

Occupancy floor 97%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1510 Cleveland Ave Palatka, FL	2.0	1.0	916	$1,350	$1.47	23d	1	0.37mi
2113 Silver Lake Dr Palatka, FL	2.0	1.0	988	$1,500	$1.52	23d	1	0.53mi
1511 S Palm Ave Unit 4 Palatka, FL	3.0	1.0	1224	$1,250	$1.02	23d	1	0.54mi
3523 Whitehall St Palatka, FL	3.0	2.0	1078	$2,000	$1.86	23d	1	0.72mi
3301 Druid St Palatka, FL	3.0	1.0	856	$1,600	$1.87	23d	1	0.76mi
1510 Laurel St Palatka, FL	3.0	1.0	1080	$1,659	$1.54	3d	1	1.32mi

Listing history 18 events

1. 2026-06-18
   days on market $174,900 Active 82 DOM
2. 2026-06-17
   days on market $174,900 Active 81 DOM
3. 2026-06-16
   days on market $174,900 Active 80 DOM
4. 2026-06-15
   days on market $174,900 Active 79 DOM
5. 2026-06-13
   days on market $174,900 Active 77 DOM
6. 2026-06-10
   days on market $174,900 Active 73 DOM
7. 2026-06-08
   days on market $174,900 Active 72 DOM
8. 2026-06-07
   days on market $174,900 Active 71 DOM
9. 2026-06-05
   days on market $174,900 Active 68 DOM
10. 2026-06-03
    days on market $174,900 Active 67 DOM
11. 2026-06-02
    days on market $174,900 Active 66 DOM
12. 2026-06-01
    days on market $174,900 Active 65 DOM
13. 2026-05-31
    days on market $174,900 Active 64 DOM
14. 2026-05-15
    status Active
15. 2026-05-13
    historical Active Under Contract
16. 2026-03-28
    listed $174,900 Active
17. 2000-11-01
    soldstatus $48,000
18. 1994-07-25
    soldstatus $38,700

ⓘ 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: $1,516 · $126/mo
• Projected year-2 tax: $1,516 · $126/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,561
• − Mortgage interest: −$9,797
• − Property taxes: −$1,516
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$5,088
• Taxable loss: −$3,322
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $476/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

• 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

+351.9% since first listed

5 events — show timeline

• 2026-05-15 Relisted — realMLS
• 2026-05-13 Contingent — realMLS
• 2026-03-28 Listed $174,900 realMLS
• 2000-11-01 Sold (Public Records) $48,000 Public Records
• 1994-07-25 Sold (Public Records) $38,700 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,516 · +0.2% YoY. Source: county tax records.