141 SW Michigan St · Lake City, FL 32025

$265,000

3 bd · 2.0 ba · 1,591 sqft · SingleFamily public records · 34 Days on market

Built 1992 0.72 ac lot Est $291k · 9% under

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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).

• ARV discount +11.5/15.0
• Appreciation +10.0/10.0
• Cash flow +7.3/30.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.5/10.0

Listing remarks MLS

This property is turnkey with circular driveway for easy access. Spacious living room and kitchen with pantry and lots of cabinet space. Features a large master bedroom with walk-in closets, attached master bath with large garden tub, completely tiled shower, his & her sinks, and a seperate door leading to the back yard. .. .HVAC was replaced 5 years ago & Septic system replaced 2 years ago. Beautiful well landscaped 1 acre yard that has room for a pool or garden. Enjoy the fenced back yard with orange tree, fig tree, & grapevine. Also has a double gate for easy access to back yard. Located close to the VA, town, shopping, etc. A must see!!! Just reduced by $14,000.

Key facts

• Functional kitchen
• Spa style bath
• Nearly 1 acre lot

Tags

• NEARLY 1 ACRE LOT
• FUNCTIONAL KITCHEN
• ABUNDANT CABINET STORAGE
• RELAXING PRIMARY SUITE
• WALK IN CLOSETS
• SPA STYLE BATH

Property features AI

Finance

• Other: Partially furnished; Lot size about 0.72 acres (approximately 1/2 to less than 1 acre); Water view: lake

Exterior

• Parking: Circular driveway; Attached garage (1 car)
• Utilities: Well water; Septic tank; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; One story; Facing south; Residential zoning
• Construction: Block and vinyl siding construction; Shingle roof; Stem wall foundation; Built as a single-level home
• Exterior features: French doors; Asphalt road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Exhaust fan; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Open floorplan; Gas fireplace
• Laundry & utility: Washer and Dryer included; Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-352 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (33.3% below list).
• Recommended offer: $177k (33.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.7% in Lake City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 143 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 $28k of equity ($2k loan paydown + $26k 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 ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $118k; list at $265k implies a 125% 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; 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 $176,627 (33.3% 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 34 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
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: 0.67% ✗
• Cap rate: 4.70%
• Cash-on-cash: -5.70%
• DSCR: 0.75
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $291,153
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 SW Amerigo Pl	0.20mi	3/2.0	1,701 (+7%)	3mo	$190,000	$112	77
1841 SW Paloma Ct	0.50mi	3/2.0	1,795 (+13%)	3mo	$333,000	$186	53
760 Biscayne Gln	0.72mi	3/2.5	1,639 (+3%)	23mo	$300,000	$183	40
1705 SW Paloma Ct	0.63mi	3/2.0	1,774 (+12%)	22mo	$280,000	$158	33

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: 20.2%
• Equity multiple: 2.64×
• Total profit: $121,866
• Equity at exit: $238,733

10-year hold

• IRR: 18.5%
• Equity multiple: 6.07×
• Total profit: $376,468
• Equity at exit: $514,837

Cash invested: $74,200 (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: 143
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,766 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$248 /mo · $2,970/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-352

Break-even live

Break-even rent $2,212

Max offer price $202,772

Occupancy floor —

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $265,000 Active 34 DOM
2. 2026-06-18
   days on market $265,000 Active 33 DOM
3. 2026-06-17
   days on market $265,000 Active 32 DOM
4. 2026-06-16
   days on market $265,000 Active 31 DOM
5. 2026-06-15
   days on market $265,000 Active 30 DOM
6. 2026-06-14
   days on market $265,000 Active 28 DOM
7. 2026-06-12
   days on market $265,000 Active 27 DOM
8. 2026-06-09
   days on market $265,000 Active 24 DOM
9. 2026-06-08
   days on market $265,000 Active 23 DOM
10. 2026-06-07
    days on market $265,000 Active 22 DOM
11. 2026-06-05
    days on market $265,000 Active 19 DOM
12. 2026-06-03
    days on market $265,000 Active 18 DOM
13. 2026-06-02
    days on market $265,000 Active 17 DOM
14. 2026-06-01
    days on market $265,000 Active 16 DOM
15. 2026-05-31
    days on market $265,000 Active 15 DOM
16. 2026-05-30
    days on market $265,000 Active 14 DOM
17. 2026-05-15
    listed $265,000 Active
18. 2014-06-17
    soldstatus $117,900
19. 2014-05-06
    soldstatus $117,900 691-char remark

    Show marketing remark (691 chars)

    This property is turnkey with circular driveway for easy access. Spacious living room and kitchen with pantry and lots of cabinet space. Features a large master bedroom with walk-in closets, attached master bath with large garden tub, completely tiled shower, his & her sinks, and a seperate door leading to the back yard. .. .HVAC was replaced 5 years ago & Septic system replaced 2 years ago. Beautiful well landscaped 1 acre yard that has room for a pool or garden. Enjoy the fenced back yard with orange tree, fig tree, & grapevine. Also has a double gate for easy access to back yard. Located close to the VA, town, shopping, etc. A must see!!! Just reduced by $14,000.

ⓘ 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: $2,970 · $248/mo
• Projected year-2 tax: $2,970 · $248/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 6/10 Major
• 🌡 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: $21,195
• − Mortgage interest: −$14,844
• − Property taxes: −$2,970
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$7,709
• Taxable loss: −$9,044
• Est. tax savings @ 24.0%: +$2,171
• After-tax cash flow: $-2,056/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

• County: Columbia County · 40,507 people
• City population: 40,507
• 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

+124.8% since first listed

3 events — show timeline

• 2026-05-15 Listed $265,000 Stellar MLS as Distributed by MLS Grid
• 2014-06-17 Sold (Public Records) $117,900 Public Records
• 2014-05-06 Sold (MLS) $117,900 NFMLS

Property tax history

+9.4%/yr

Latest (2025): $2,970 · +2.5% YoY. Source: county tax records.