1733 Mckelvy St · Quincy, FL 32351

$45,000

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 50 Days on market

Built 1945 8,712 sqft lot $42/sqft · 60% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Real Estate Investor Special----2 Bed / 1 Bath Single-Family Home – Located in Quincy, FL—This property is an investor special with great bones and tons of upside! Low entry, renovate, and pocket a hefty return margin. With the right updates, this property can easily become a high-performing rental or a solid flip for a nice profit. Acquire this one with the mind to rebuild! Either totally renovate the home under it's current 2/2 footprint or enlarge the home to a 3/2 to increase your profit margin even more. Located minutes from grocery shopping, restaurants and dining. Quincy offers small-town charm, this location is just a short drive from Tallahassee. The area continues to g

Key facts

• 8,712 sq ft lot
• Parking
• Built 1945

Property features AI

Finance

• Other: Lot size approximately 0.2 acre
• Financial info: Offered for sale

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story; Crawlspace foundation
• Construction: Wood siding; Built on crawlspace
• Exterior features: Public maintained paved road; Lot dimensions approximately 100x90x100x90

Interior

• Bedrooms: Bedroom 2: 9x8
• Flooring: Plank; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Plank and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $851 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.0% vs local median 3.9% in Quincy — 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 66/100 on livability (#588 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety B+; Watch: amenities F, commute F, employment F.
• Gadsden (rural): math 31% / reading 31% proficiency, ranked #70 of 73 in FL (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 117 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 107 units permitted in Gadsden County in 2024 (36 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Gadsden County population projected at -27% 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.22% ✓
• Cap rate: 29.00%
• Cash-on-cash: 81.08%
• DSCR: 4.61
• GRM: 2.6

CMA / ARV

• ARV (median comp): $113,809
• List price: $45,000
• Delta: -60.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
733 S Shelfer St	0.32mi	3/1.0 (+1)	1,040 (-2%)	3mo	$140,000	$135	74
513 Cooper St	0.60mi	3/2.0 (+1)	1,071 (+1%)	18mo	$125,000	$117	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 81.3%
• Equity multiple: 4.73×
• Total profit: $46,945
• Equity at exit: $6,710

10-year hold

• IRR: 84.7%
• Equity multiple: 9.79×
• Total profit: $110,749
• Equity at exit: $3,891

Cash invested: $12,600 (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 32351

• Home prices YoY: -24.6%
• Active inventory: 117
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $851

Break-even live

Break-even rent $372

Max offer price $45,000

Occupancy floor 36%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 S Jackson St Quincy, FL	3.0	2.0	1068	$1,450	$1.36	13d	1	1.21mi

Listing history 21 events

1. 2026-06-16
   days on market $45,000 Active 50 DOM
2. 2026-06-15
   days on market $45,000 Active 49 DOM
3. 2026-06-14
   days on market $45,000 Active 47 DOM
4. 2026-06-13
   days on market $45,000 Active 46 DOM
5. 2026-06-10
   days on market $45,000 Active 44 DOM
6. 2026-06-09
   days on market $45,000 Active 43 DOM
7. 2026-06-08
   days on market $45,000 Active 42 DOM
8. 2026-06-07
   days on market $45,000 Active 41 DOM
9. 2026-06-05
   days on market $45,000 Active 38 DOM
10. 2026-06-03
    days on market $45,000 Active 37 DOM
11. 2026-06-02
    days on market $45,000 Active 36 DOM
12. 2026-06-01
    days on market $45,000 Active 35 DOM
13. 2026-05-31
    days on market $45,000 Active 34 DOM
14. 2026-05-30
    days on market $45,000 Active 33 DOM
15. 2026-04-27
    listed $50,000 Active 975-char remark
16. 2024-02-25
    historical
17. 2023-12-31
    price $18,000
18. 2023-12-31
    price $19,900
19. 2023-12-31
    status Active
20. 2023-10-09
    status Pending
21. 2023-08-24
    listed $18,000 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: $473 · $39/mo
• Projected year-2 tax: $473 · $39/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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,400
• − Mortgage interest: −$2,521
• − Property taxes: −$473
• − Insurance: −$225
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$1,309
• Taxable income: $10,089
• Est. tax owed @ 24.0%: −$2,421
• After-tax cash flow: $7,795/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: Gadsden
• NCES district ID: 1200600
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $36,470
• Composite: 25.75/100
• National rank: #7373
• State rank: #70 of 73 in FL

Livability — Quincy

• Score: 66/100
• State rank: #588
• US rank: #11260

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, FL
• Population (ZIP): 16,808

Population outlook (Gadsden County) Hauer SSP2

• Today (2025): 42,956 people
• By 2030: 40,878 · -4.8%
• By 2040: 36,218 · -15.7%
• By 2050: 31,502 · -26.7%
• By 2075: 21,828 · -49.2%
• By 2100: 14,480 · -66.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 54% White 27% Hispanic / Latino 17% Two or more races 5% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Gadsden

• 2024 margin: Solid D (+30.7) · D 65.0% · R 34.3%
• 2008→2024 swing: -8.3pp toward R · 2008: 39.0pp · 2024: 30.7pp
• All cycles: 2024: D+30.7 2020: D+36.6 2016: D+37.5 2012: D+40.6 2008: D+39.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.50%
• Current HPI: 161.1446
• 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

+150.0% since first listed

9 events — show timeline

• 2026-06-16 Listing Removed — CATRS
• 2026-05-22 Price Changed $45,000 CATRS
• 2026-04-27 Listed $50,000 CATRS
• 2024-02-25 Listing Removed — Beaches MLS
• 2023-12-31 Price Changed $18,000 Beaches MLS
• 2023-12-31 Price Changed $19,900 Beaches MLS
• 2023-12-31 Relisted — Beaches MLS
• 2023-10-09 Pending — Beaches MLS
• 2023-08-24 Listed $18,000 Beaches MLS

Property tax history

+19.8%/yr

Latest (2025): $473 · +2.7% YoY. Source: county tax records.