147 SE Olustee Ave · Watertown, FL 32025

$284,900

3 bd · 2.0 ba · 1,430 sqft · SingleFamily public records · 112 Days on market

Built 1964 0.26 ac lot Est $219k · 30% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

Key facts

• Remodeled
• Large living area
• Spacious cabinetry

Tags

• REMODELED
• MOVE IN READY
• OPEN KITCHEN
• GRANITE COUNTERTOPS
• SPACIOUS CABINETRY
• LARGE LIVING AREA

Property features AI

Exterior

• Parking: On-street parking
• Home design: Single-family residential; 1 story
• Construction: Brick construction; Shingle roof; Slab foundation; Built on approximately 0.258 acre lot
• Exterior features: Patio; Chain link fence; Shed(s)

Interior

• Kitchen: Electric cooktop; Refrigerator; Microwave
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fans; Central air conditioning; Central electric heating

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-349 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (21.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (36.9% below list).
• Recommended offer: $180k (36.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#798 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, 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.
• Zoned schools: Eastside Elementary School (math 68% / reading 62%, grade B+, #514 of 2,144 statewide, top 24%, 631 students, 62% FRL); Columbia High School (math 28% / reading 45%, grade F, #351 of 667 statewide, top 54%, 1,737 students, 50% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 146 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k 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.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $178k; list at $285k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $179,871 (36.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.63% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.25%
• DSCR: 0.77
• GRM: 13.2

CMA / ARV

• ARV (on-the-fly): $218,790
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
176 SE Dekle Way	0.25mi	3/1.0	1,390 (-3%)	3mo	$145,000	$104	77
772 SE Defender Dr	0.21mi	3/1.5	1,509 (+6%)	8mo	$170,000	$113	73
186 SE Rosewood Cir	0.33mi	2/1.5 (-1)	1,448 (+1%)	6mo	$235,000	$162	71
1871 SE Baya Dr	0.11mi	3/2.0	1,575 (+10%)	10mo	$175,000	$111	70
465 SE Golf Club Ave	0.16mi	3/2.0	1,215 (-15%)	0mo	$175,000	$144	67
465 SE Rosewood Cir	0.36mi	2/2.0 (-1)	1,488 (+4%)	7mo	$255,000	$171	66
795 SE Defender Dr	0.21mi	3/1.5	1,568 (+10%)	8mo	$193,500	$123	66
208 SE Elm Loop	0.29mi	3/2.0	1,230 (-14%)	7mo	$192,500	$157	57
406 SE Pearl Ter	0.37mi	2/2.0 (-1)	1,288 (-10%)	9mo	$219,000	$170	54
240 SE Cameron Ter	0.39mi	3/2.0	1,225 (-14%)	5mo	$235,000	$192	53
201 SE Rosewood Cir	0.30mi	2/2.0 (-1)	1,220 (-15%)	7mo	$187,000	$153	51
173 SE Jenese Way	0.46mi	2/2.0 (-1)	1,216 (-15%)	0mo	$180,000	$148	48

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: 20.5%
• Equity multiple: 2.67×
• Total profit: $132,836
• Equity at exit: $256,660

10-year hold

• IRR: 18.7%
• Equity multiple: 6.12×
• Total profit: $408,474
• Equity at exit: $553,498

Cash invested: $79,772 (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 32025

• Home prices YoY: 6.8%
• Active inventory: 146
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$1,494
• Tax from tax record: −$157 /mo · $1,888/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-349

Break-even live

Break-even rent $2,241

Max offer price $223,233

Occupancy floor —

Sensitivity live

Price	-10% $-188	-5% $-268	+0% $-349	+5% $-430	+10% $-510
Rent	-10% $-491	-5% $-420	+0% $-349	+5% $-278	+10% $-207
Rate	-1.0pp $-206	-0.5pp $-277	base $-349	+0.5pp $-423	+1.0pp $-498

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $284,900 Active 112 DOM
2. 2026-06-19
   days on market $284,900 Active 110 DOM
3. 2026-06-18
   days on market $284,900 Active 109 DOM
4. 2026-06-17
   days on market $284,900 Active 108 DOM
5. 2026-06-16
   days on market $284,900 Active 107 DOM
6. 2026-06-15
   days on market $284,900 Active 106 DOM
7. 2026-06-14
   days on market $284,900 Active 104 DOM
8. 2026-06-12
   days on market $284,900 Active 103 DOM
9. 2026-06-09
   days on market $284,900 Active 100 DOM
10. 2026-06-08
    days on market $284,900 Active 99 DOM
11. 2026-06-07
    days on market $284,900 Active 98 DOM
12. 2026-06-05
    days on market $284,900 Active 95 DOM
13. 2026-06-03
    days on market $284,900 Active 94 DOM
14. 2026-06-02
    days on market $284,900 Active 93 DOM
15. 2026-06-01
    days on market $284,900 Active 92 DOM
16. 2026-05-31
    days on market $284,900 Active 91 DOM
17. 2026-05-30
    days on market $284,900 Active 90 DOM
18. 2026-03-02
    historical $2,000
19. 2026-03-01
    listed $284,900 Active
20. 2026-02-14
    listed $2,000
21. 2024-01-28
    status Active Under Contract 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

22. 2024-01-28
    soldstatus $178,000 Closed 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

23. 2024-01-08
    status Active 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

24. 2023-09-12
    price $160,000 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

25. 2023-07-09
    status Active 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

26. 2023-06-11
    historical Active Under Contract 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

27. 2023-05-10
    listed $164,000 Active 269-char remark

    Show marketing remark (269 chars)

    Great investment home. Located in an established subdivision, this 3-bedroom, 2 bath home. Open kitchen, large living room, storage area under carport and fenced back yard. This house is conveniently located near restaurants, hospitals, schools, shopping and much more.

28. 2015-06-29
    soldstatus $52,000
29. 2015-06-17
    soldstatus $52,000 254-char remark

    Show marketing remark (254 chars)

    Great starter or investment home. Located in an established subdivision, this 3 bedroom 2 bath home is spacious and functional. Open kitchen with plenty of cabinet and counter space, interior utility room, storage area under carport and fenced back yard.

ⓘ 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: $1,888 · $157/mo
• Projected year-2 tax: $2,365 · $197/mo
• Expected delta: +$477/yr (+$40/mo · 25.3%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,585
• − Mortgage interest: −$15,959
• − Property taxes: −$1,888
• − Insurance: −$1,424
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$8,288
• Taxable loss: −$9,428
• Est. tax savings @ 24.0%: +$2,263
• After-tax cash flow: $-1,926/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 — Watertown

• Score: 60/100
• State rank: #798
• US rank: #18481

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, FL
• County: Columbia County · 40,507 people
• Metro: Lake City, FL
• Population (ZIP): 22,948
• Household income: $55,004
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 754.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Serbian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▲ 17.57%
• Current HPI: 276.7253
• Rent YoY: —
• Metro: Lake City, FL
• 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

-96.2% since first listed

12 events — show timeline

• 2026-03-02 Rental Removed $2,000 NFMLS
• 2026-03-01 Listed $284,900 NFMLS
• 2026-02-14 Listed for Rent $2,000 NFMLS
• 2024-01-28 Relisted — NFMLS
• 2024-01-28 Sold (MLS) $178,000 NFMLS
• 2024-01-08 Relisted — NFMLS
• 2023-09-12 Price Changed $160,000 NFMLS
• 2023-07-09 Relisted — NFMLS
• 2023-06-11 Contingent — NFMLS
• 2023-05-10 Listed $164,000 NFMLS
• 2015-06-29 Sold (Public Records) $52,000 Public Records
• 2015-06-17 Sold (MLS) $52,000 NFMLS

Property tax history

+7.8%/yr

Latest (2025): $1,888 · -16.4% YoY. Source: county tax records.