7 Centipede Dr

Crawfordville, FL 32327

$250,000D+

3 bd · 2.0 ba · 1,692 sqft · Built 1999 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,812/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$281
• HOA: −$0
• Vac / Maint / Mgmt: −$381
• Net cashflow: $-161/mo
• Annual: $-1,929/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• 1% rule: 0.72%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (27.5% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $181k (27.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#187 in FL, #2,943 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Riversink Elementary School (math 66% / reading 67%, grade B+, #473 of 2,144 statewide, top 23%, 503 students, 41% FRL); Riversprings Middle School (math 61% / reading 58%, grade B, #140 of 571 statewide, top 25%, 549 students, 36% FRL); Wakulla High School (math 42% / reading 51%, grade D-, #216 of 667 statewide, top 33%, 1,418 students, 37% FRL).
• Market conditions: Rents rising (+3.2%/yr); 346 active listings in the ZIP; solid renter incomes; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).
• 3 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 $165k; list at $250k implies a 52% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 5.5% vs local median 4.0% in Crawfordville — 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

• 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?
• 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?
• 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?
• 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.