515 S Stewart St · Quincy, FL 32351

$35,000

3 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 33 Days on market

Built 1958 Poor condition 3,484 sqft lot ↓ 52% since listing

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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 +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

Key facts

• 3,484 sq ft lot
• Parking
• Built 1958

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Carport with space for one vehicle
• Utilities: Publicly maintained road access
• Home design: Single-story; Block and concrete construction
• Construction: Block construction; Concrete construction
• Exterior features: Covered porch

Interior

• Kitchen: Kitchen (8 x 9)
• Bedrooms: Bedroom 2 (10 x 9); Bedroom 3 (24 x 12)
• Flooring: Engineered hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Engineered hardwood flooring; No additional interior features listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 36.9% 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 $242 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.
• Current owner paid $18k; list at $35k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 4.14% ✓
• Cap rate: 36.91%
• Cash-on-cash: 109.33%
• DSCR: 5.86
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $155,232
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 S Ward St	0.31mi	3/1.0	999 (-5%)	7mo	$115,000	$115	66
513 Cooper St	0.49mi	3/2.0	1,071 (+1%)	18mo	$125,000	$117	60
615 Franklin St	0.59mi	2/1.0 (-1)	1,052 (-0%)	10mo	$197,947	$188	54
201 Dupont Ave	0.68mi	4/2.0 (+1)	1,132 (+7%)	2mo	$205,175	$181	50
812 Sikes St	0.69mi	3/2.0	1,128 (+7%)	12mo	$200,000	$177	46
732 S Duval St	0.62mi	3/1.0	1,152 (+9%)	14mo	$169,900	$147	41
234 Dupont Ave	0.72mi	3/1.5	1,025 (-3%)	23mo	$90,000	$88	40
315 Mcarthur St	0.65mi	2/1.0 (-1)	900 (-15%)	18mo	$37,500	$42	21

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: —
• Equity multiple: 6.23×
• Total profit: $51,225
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 13.04×
• Total profit: $117,948
• Equity at exit: $3,026

Cash invested: $9,800 (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 32351

• Home prices YoY: -24.6%
• Active inventory: 117
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$54 /mo · $654/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $893

Break-even live

Break-even rent $320

Max offer price $35,000

Occupancy floor 33%

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: $8,750
• Closing costs: $1,050
• 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	0.27mi

Listing history 23 events

1. 2026-06-18
   days on market $35,000 Active 33 DOM
2. 2026-06-17
   days on market $35,000 Active 32 DOM
3. 2026-06-16
   days on market $35,000 Active 31 DOM
4. 2026-06-15
   days on market $35,000 Active 30 DOM
5. 2026-06-14
   days on market $35,000 Active 28 DOM
6. 2026-06-13
   days on market $35,000 Active 27 DOM
7. 2026-06-10
   days on market $35,000 Active 25 DOM
8. 2026-06-09
   days on market $35,000 Active 24 DOM
9. 2026-06-08
   days on market $35,000 Active 23 DOM
10. 2026-06-07
    days on market $35,000 Active 22 DOM
11. 2026-06-05
    days on market $35,000 Active 19 DOM
12. 2026-06-03
    days on market $35,000 Active 18 DOM
13. 2026-06-02
    days on market $35,000 Active 17 DOM
14. 2026-06-01
    days on market $35,000 Active 16 DOM
15. 2026-05-31
    days on market $35,000 Active 15 DOM
16. 2026-05-30
    days on market $35,000 Active 14 DOM
17. 2026-05-16
    listed $35,000 Active
18. 2022-05-26
    soldstatus $18,500 Closed 461-char remark

    Show marketing remark (461 chars)

    Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

19. 2022-05-12
    historical Active Under Contract 461-char remark

    Show marketing remark (461 chars)

    Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

20. 2022-05-03
    price $27,500 461-char remark

    Show marketing remark (461 chars)

    Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

21. 2022-04-07
    price $57,500 461-char remark

    Show marketing remark (461 chars)

    Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

22. 2022-03-26
    price $67,500 461-char remark

    Show marketing remark (461 chars)

    Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

23. 2022-03-15
    listed $72,500 Active 461-char remark

    Show marketing remark (461 chars)

    Since initial Listing, this property has suffered fire damage and is no longer habitable. Very unique property that features 3 or 2 bedrooms and 2 baths. A wall was torn down to make 1 big bedroom, but can easily be converted back. Downstairs/basement area is studio style with its own bathroom. Property needs new roof and minimum TLC. All dimensions are approximate, therefore Buyer should verify. Bring all REASONABLE Cash Offers. No sign or lockbox present.

ⓘ 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: $654 · $54/mo
• Projected year-2 tax: $654 · $54/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 4/10 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: −$1,961
• − Property taxes: −$654
• − Insurance: −$175
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$1,018
• Taxable income: $10,808
• Est. tax owed @ 24.0%: −$2,594
• After-tax cash flow: $8,121/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 · 9 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and rebuilding due to fire damage, including structural repairs, new cabinets, and HVAC system replacement. Landscaping and curb appeal improvements will also enhance its value.

Repairs flagged

• Major Exposed framing — Structural damage
• Major Burnt cabinets — Fire damage
• Major Exposed HVAC/mechanicals — Structural damage

Value-add opportunities

• Resale Rebuild kitchen cabinets — New cabinets improve aesthetics and functionality
• Both Replace HVAC system — New HVAC system improves comfort and energy efficiency
• Both Landscaping and curb appeal — Improved landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed framing · Structural damage	Major	$15,000–50,000
Burnt cabinets · Fire damage	Major	$15,000–50,000
Exposed HVAC/mechanicals · Structural damage	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale Rebuild kitchen cabinets — New cabinets improve aesthetics and functionality ↑
• Both Replace HVAC system — New HVAC system improves comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Improved landscaping enhances curb appeal and property 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: 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

-51.7% since first listed

7 events — show timeline

• 2026-05-16 Listed $35,000 CATRS
• 2022-05-26 Sold (MLS) $18,500 CATRS
• 2022-05-12 Contingent — CATRS
• 2022-05-03 Price Changed $27,500 CATRS
• 2022-04-07 Price Changed $57,500 CATRS
• 2022-03-26 Price Changed $67,500 CATRS
• 2022-03-15 Listed $72,500 CATRS

Property tax history

+7.2%/yr

Latest (2025): $654 · +1.9% YoY. Source: county tax records.