216 NE Third St · Trenton, FL 32693

$234,900

3 bd · 2.0 ba · 1,728 sqft · SingleFamily public records · 59 Days on market

Built 1960 6,534 sqft lot $136/sqft · 7% above area Est $220k · 7% over

---

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 +14.0/30.0
• Appreciation +10.0/10.0
• Schools +5.3/10.0
• ARV discount +4.5/15.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this beautifully remodeled home nestled in the heart of Trenton, Florida. Thoughtfully updated and move-in ready, this property offers the perfect blend of modern upgrades and small-town charm. Step inside to find refreshed living spaces designed for comfort and functionality. The home features newly renovated bathrooms with updated fixtures and finishes, adding a clean, contemporary feel. Recent improvements include a brand-new metal roof for long-term durability and peace of mind, freshly painted exterior, along with new exterior doors that enhance both security and curb appeal. Conveniently located near local shops, restaurants, schools, and community amenities, this home offers

Key facts

• New metal roof
• New exterior doors
• Updated fixtures

Tags

• REMODELED HOME
• UPDATED FIXTURES
• NEW METAL ROOF
• FRESHLY PAINTED EXTERIOR
• NEW EXTERIOR DOORS
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $30 ($365/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (23.0% below list).
• Recommended offer: $181k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.9% in Trenton — 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 77/100 on livability (#207 in FL, #3,078 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Gilchrist (rural): math 66% / reading 61% proficiency, ranked #9 of 73 in FL (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 199 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 94 units permitted in Gilchrist County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Gilchrist County population projected to shrink 6% 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 $66k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $85k; list at $235k implies a 176% gain — meaningful room to come down on a strong offer.

Recommended offer $180,828 (23.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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?
5. 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?
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: 0.77% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 10.8

CMA / ARV

• ARV (median comp): $220,212
• List price: $234,900
• Delta: 6.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 NE 2nd St	0.07mi	3/1.0	1,806 (+4%)	2mo	$35,000	$19	83
823 E Wade St	0.29mi	4/2.0 (+1)	1,596 (-8%)	3mo	$140,000	$88	66
311 SW 4th St	0.53mi	3/2.0	1,847 (+7%)	1mo	$290,000	$157	63
407 SW First St	0.38mi	3/2.0	1,756 (+2%)	22mo	$217,600	$124	61
317 SW 1st St	0.35mi	3/2.0	1,592 (-8%)	14mo	$212,000	$133	59
509 NW 5th Ave	0.53mi	3/2.0	1,740 (+1%)	22mo	$247,000	$142	56
632 S Main St	0.44mi	4/2.0 (+1)	1,777 (+3%)	18mo	$315,000	$177	55
621 NE 2nd St	0.21mi	3/2.0	1,474 (-15%)	14mo	$235,000	$159	54
626 NE Seventh Ave	0.27mi	3/2.0	1,491 (-14%)	17mo	$255,000	$171	50
630 NE Seventh Ave	0.28mi	3/2.0	1,491 (-14%)	17mo	$255,000	$171	50
824 SW 2nd St	0.56mi	3/2.0	1,635 (-5%)	20mo	$285,000	$174	48
818 SW 5th St	0.67mi	3/2.0	1,647 (-5%)	20mo	$299,900	$182	44

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: 24.7%
• Equity multiple: 2.97×
• Total profit: $129,758
• Equity at exit: $211,617

10-year hold

• IRR: 21.8%
• Equity multiple: 6.78×
• Total profit: $380,372
• Equity at exit: $456,359

Cash invested: $65,772 (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 32693

• Home prices YoY: 14.8%
• Active inventory: 199
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$68 /mo · $821/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $30

Break-even live

Break-even rent $1,770

Max offer price $234,900

Occupancy floor 93%

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 SW 1st St Trenton, FL	3.0	2.0	1508	$2,000	$1.33	14d	1	0.39mi
1102 NE 16th Ave Trenton, FL	3.0	2.0	1056	$1,250	$1.18	14d	1	0.79mi

Listing history 26 events

1. 2026-06-18
   days on market $234,900 Active 59 DOM
2. 2026-06-17
   days on market $234,900 Active 58 DOM
3. 2026-06-16
   days on market $234,900 Active 57 DOM
4. 2026-06-15
   days on market $234,900 Active 56 DOM
5. 2026-06-14
   days on market $234,900 Active 54 DOM
6. 2026-06-13
   days on market $234,900 Active 53 DOM
7. 2026-06-10
   days on market $234,900 Active 51 DOM
8. 2026-06-09
   days on market $234,900 Active 50 DOM
9. 2026-06-08
   days on market $234,900 Active 49 DOM
10. 2026-06-07
    days on market $234,900 Active 48 DOM
11. 2026-06-05
    days on market $234,900 Active 45 DOM
12. 2026-06-02
    days on market $234,900 Active 43 DOM
13. 2026-06-01
    days on market $234,900 Active 42 DOM
14. 2026-05-31
    days on market $234,900 Active 41 DOM
15. 2026-05-30
    days on market $234,900 Active 40 DOM
16. 2026-04-20
    listed $239,000 Active
17. 2026-04-20
    listed $239,000 Active
18. 2026-04-20
    listed $239,000 Active
19. 2015-08-25
    soldstatus $85,000
20. 2015-08-21
    soldstatus $85,000
21. 2015-06-26
    listed $89,500
22. 2015-03-02
    soldstatus $32,000
23. 2015-03-02
    soldstatus $32,000
24. 2015-02-10
    listed $33,500
25. 2015-01-28
    listed $33,500
26. 1999-08-01
    soldstatus $65,000

ⓘ 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: $821 · $68/mo
• Projected year-2 tax: $1,950 · $162/mo
• Expected delta: +$1,129/yr (+$94/mo · 137.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,699
• − Mortgage interest: −$13,158
• − Property taxes: −$821
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$6,833
• Taxable loss: −$3,760
• Est. tax savings @ 24.0%: +$902
• After-tax cash flow: $1,267/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: Gilchrist
• NCES district ID: 1200630
• Math proficiency: 66% ▼ -4.00%
• Reading proficiency: 61% ▼ -5.00%
• Median HH income: $39,610
• Composite: 53.01/100
• National rank: #1522
• State rank: #9 of 73 in FL

Livability — Trenton

• Score: 77/100
• State rank: #207
• US rank: #3078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, FL
• City population: 17,704
• Population (ZIP): 11,692

Population outlook (Gilchrist County) Hauer SSP2

• Today (2025): 17,730 people
• By 2030: 17,722 · +-0.0%
• By 2040: 17,393 · -1.9%
• By 2050: 16,597 · -6.4%
• By 2075: 14,300 · -19.3%
• By 2100: 11,498 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Gilchrist

• 2024 margin: Solid R (+68.0) · D 15.6% · R 83.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -46.8pp · 2024: -68.0pp
• All cycles: 2024: R+68.0 2020: R+64.0 2016: R+62.8 2012: R+51.0 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 46.81%
• Current HPI: 363.4299
• 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

+267.7% since first listed

11 events — show timeline

• 2026-04-20 Listed $239,000 DGLMLS
• 2026-04-20 Listed $239,000 DGLMLS
• 2026-04-20 Listed $239,000 DGLMLS
• 2015-08-25 Sold (Public Records) $85,000 Public Records
• 2015-08-21 Sold (MLS) $85,000 Stellar MLS as Distributed by MLS Grid
• 2015-06-26 Listed $89,500 Stellar MLS as Distributed by MLS Grid
• 2015-03-02 Sold (MLS) $32,000 DGLMLS
• 2015-03-02 Sold (MLS) $32,000 Stellar MLS as Distributed by MLS Grid
• 2015-02-10 Listed $33,500 DGLMLS
• 2015-01-28 Listed $33,500 Stellar MLS as Distributed by MLS Grid
• 1999-08-01 Sold (Public Records) $65,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $821 · +6.1% YoY. Source: county tax records.