16895 Orange St

Blountstown, FL 32424

$43,000B+

3 bd · 2.0 ba · 1,353 sqft · Built 1944 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $940/mo
• Mortgage (P&I): −$225
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $439/mo
• Annual: $5,263/yr
• Cap rate: 18.53%
• Cash-on-cash: 43.71%
• DSCR: 2.95
• 1% rule: 2.19%
• Cash to close: $12,040

Investor read

• This is a 3-bed/2.0-bath single-family listed at $43k.
• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($940 rent vs $43k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($297 loan paydown + $911 appreciation (2.1% local appreciation)).
• Location reads 67/100 on livability (#562 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Calhoun (rural): math 52% / reading 55% proficiency, ranked #27 of 73 in FL (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Blountstown Elementary School (math 54% / reading 56%, grade C, #872 of 2,144 statewide, top 42%, 490 students, 68% FRL); Blountstown High School (math 58% / reading 56%, grade C, #127 of 667 statewide, top 19%, 695 students, 55% FRL) — zoned schools at 62% FRL track the district average.
• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 30 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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.
• Cap rate 18.5% vs local median 3.1% in Blountstown — 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.

Questions for listing agent

• Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.