16567 SW Gaskin St

Blountstown, FL 32424

$44,000A-

3 bd · 1.0 ba · 1,068 sqft · Built 1938 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $864/mo
• Mortgage (P&I): −$231
• Tax + insurance: −$461
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $-9/mo
• Annual: $-107/yr
• Cap rate: 17.68%
• Cash-on-cash: 40.67%
• DSCR: 2.81
• 1% rule: 1.96%
• Cash to close: $12,320

Investor read

• This is a 3-bed/1.0-bath single-family listed at $44k.
• At list price, monthly cash flow is $-9 ($-107/yr) — negative.
• To cash-flow at today's rent, offer at most $42k (3.6% below list).
• Meets the 1% rule at list price ($864 rent vs $44k).
• It's been on market 23 days — a 2% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $42k (3.6% below list) — sets the bar for cash-flow.
• In year one you build about $1k of equity ($304 loan paydown + $932 appreciation (2.1% local appreciation)).
• Location reads 67/100 on livability (#562 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities F, commute F, employment F.
• Calhoun (rural): math 52% / reading 55% proficiency, ranked #27 of 73 in FL (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $427/mo; built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 30 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 13y ago 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.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.7% vs local median 3.1% in Blountstown — 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.

Questions for listing agent

• 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?
• Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.