2907 SW State Road 247 · Lake City, FL 32024

$175,000

2 bd · 1.0 ba · 1,324 sqft · SingleFamily public records · 247 Days on market

Built 1989 1.21 ac lot Est $266k · 34% under

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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 +21.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 2-Bedroom Home on Main Highway – Great Visibility & Convenience! Welcome to this cozy and well-maintained 2-bedroom, 1-bath home perfectly situated on a main highway — offering both prime visibility and easy access to nearby amenities. Whether you're a first-time homebuyer, downsizing, or looking for a high-traffic location for a home-based business, this property is full of potential! Step inside to find a bright and functional layout with a comfortable living area, two spacious bedrooms, and a full bath. The kitchen offers ample space. Outside, enjoy a generous yard with space to garden, relax, or expand. The property also features off-street parking and excelle

Key facts

• Easy access
• Generous yard
• Excellent exposure

Tags

• GREAT VISIBILITY
• EASY ACCESS
• GENEROUS YARD
• OFF-STREET PARKING
• EXCELLENT EXPOSURE
• MAJOR COMMUTER ROUTES

Property features AI

Exterior

• Parking: 3-car garage
• Utilities: Private well water
• Home design: Single-story residential home
• Construction: Frame construction; Slab foundation
• Exterior features: Metal roof; Lot approximately 1.21 acres; Zoned residential

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Central air; Ceiling fans
• Interior features: Ceiling fans; Central air

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 $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.7% in Lake City — 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 73/100 on livability (#304 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F, employment F.
• Columbia (town): math 53% / reading 54% proficiency, ranked #25 of 73 in FL (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 206 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Columbia County population projected to shrink 7% 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 $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($154k) 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 $60k; list at $175k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.01% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $266,124
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 SW Lexington Ct	0.25mi	3/2.0 (+1)	1,387 (+5%)	16mo	$275,000	$198	58
274 SW Emerald St	0.34mi	3/2.0 (+1)	1,273 (-4%)	14mo	$275,000	$216	57
253 SW Edna Ct	0.46mi	3/2.0 (+1)	1,460 (+10%)	4mo	$289,900	$199	49
127 SW Sunset Way	0.61mi	3/2.0 (+1)	1,458 (+10%)	2mo	$287,500	$197	44
228 SW Story Pl	0.64mi	3/2.0 (+1)	1,258 (-5%)	12mo	$270,000	$215	43
602 SW Prairie St	0.38mi	3/2.0 (+1)	1,456 (+10%)	17mo	$180,000	$124	43
268 SW Woodview Way	0.66mi	3/2.0 (+1)	1,368 (+3%)	22mo	$280,000	$205	36
254 SW Emerald St	0.36mi	3/2.0 (+1)	1,170 (-12%)	24mo	$235,000	$201	35

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: 26.5%
• Equity multiple: 3.11×
• Total profit: $103,406
• Equity at exit: $157,654

10-year hold

• IRR: 23.2%
• Equity multiple: 7.09×
• Total profit: $298,336
• Equity at exit: $339,987

Cash invested: $49,000 (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 32024

• Home prices YoY: 7.6%
• Active inventory: 206
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$73
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $126

Break-even live

Break-even rent $1,616

Max offer price $175,000

Occupancy floor 88%

Sensitivity live

Price	-10% $225	-5% $176	+0% $126	+5% $77	+10% $27
Rent	-10% $-14	-5% $56	+0% $126	+5% $196	+10% $266
Rate	-1.0pp $214	-0.5pp $171	base $126	+0.5pp $81	+1.0pp $35

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $175,000 Active 247 DOM
2. 2026-06-18
   days on market $175,000 Active 246 DOM
3. 2026-06-17
   days on market $175,000 Active 245 DOM
4. 2026-06-16
   days on market $175,000 Active 244 DOM
5. 2026-06-15
   days on market $175,000 Active 243 DOM
6. 2026-06-14
   days on market $175,000 Active 241 DOM
7. 2026-06-12
   days on market $175,000 Active 240 DOM
8. 2026-06-09
   days on market $175,000 Active 237 DOM
9. 2026-06-08
   days on market $175,000 Active 236 DOM
10. 2026-06-07
    days on market $175,000 Active 235 DOM
11. 2026-06-05
    days on market $175,000 Active 232 DOM
12. 2026-06-03
    days on market $175,000 Active 231 DOM
13. 2026-06-02
    days on market $175,000 Active 230 DOM
14. 2026-06-01
    days on market $175,000 Active 229 DOM
15. 2026-05-31
    days on market $175,000 Active 228 DOM
16. 2026-05-30
    days on market $175,000 Active 227 DOM
17. 2025-10-15
    listed $175,000 Active
18. 2025-07-08
    listed $175,000 Active
19. 2002-01-28
    soldstatus $60,000

ⓘ 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: $1,931 · $161/mo
• Projected year-2 tax: $1,931 · $161/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 5/10 Major FEMA zone A · 24% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,309
• − Mortgage interest: −$9,803
• − Property taxes: −$1,931
• − Insurance: −$2,378
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$5,091
• Taxable loss: −$1,303
• Est. tax savings @ 24.0%: +$313
• After-tax cash flow: $1,825/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: Columbia
• NCES district ID: 1200360
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 54% ▼ -3.00%
• Median HH income: $40,053
• Composite: 44.74/100
• National rank: #2750
• State rank: #25 of 73 in FL

Livability — Lake City

• Score: 73/100
• State rank: #304
• US rank: #5154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 40,507
• Population (ZIP): 20,644

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 68,129 people
• By 2030: 67,501 · -0.9%
• By 2040: 65,465 · -3.9%
• By 2050: 63,058 · -7.4%
• By 2075: 56,291 · -17.4%
• By 2100: 45,243 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Italian 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Columbia

• 2024 margin: Solid R (+50.2) · D 24.6% · R 74.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -33.8pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+45.2 2016: R+44.5 2012: R+36.7 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.05%
• Current HPI: 269.4659
• 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

+191.7% since first listed

3 events — show timeline

• 2025-10-15 Listed $175,000 NFMLS
• 2025-07-08 Listed $175,000 NFMLS
• 2002-01-28 Sold (Public Records) $60,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,931 · +2.7% YoY. Source: county tax records.