547 SE Olustee Ave · Watertown, FL 32025

$187,000

3 bd · 2.0 ba · 1,175 sqft · SingleFamily public records · 6 Days on market

Built 1963 9,975 sqft lot Est $184k · at est.

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Why this score? — see what drove the C+ 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 +20.5/30.0
• Appreciation +10.0/10.0
• ARV discount +6.9/15.0
• DSCR +6.5/10.0
• Schools +4.5/10.0
• 1% rule +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Vintage 1960s era brick home on a corner lot now available in the established Oak Hill Estates neighborhood. Create a new home here or explore the possibilities of an investment property. The screened porches add to the living space while the easy to maintain vinyl and tile floors offer durability and functionality. This location is a short drive from shopping, recreation and the new Eastside Elementary School.

Key facts

• 9,975 sq ft lot
• Parking
• Built 1963

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Zoning: RSF-2
• Financial info: No lease restrictions indicated
• HOA & community: No HOA association noted; Development: Oak Hill Estates

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Septic tank sewer; Electricity connected; Cable available
• Home design: Single-family residence; One story; Northwest-facing; Completed condition
• Construction: Brick construction; Metal roof; Slab foundation; Built on 0.23 acre lot (approx. 104 x 96)
• Exterior features: Corner lot within city limits; Public maintained asphalt road; Shed(s)

Interior

• Kitchen: Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Linoleum; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Blinds; Insulated windows; Nine total rooms
• Laundry & utility: Washer and dryer in laundry room (inside)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $187k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (6.0% below list).
• Recommended offer: $176k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.5% in Watertown — 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 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).
• Market conditions: 143 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 $20k of equity ($1k loan paydown + $19k 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 $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $112k; list at $187k implies a 67% 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 $175,827 (6.0% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $184,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
465 SE Golf Club Ave	0.18mi	3/2.0	1,215 (+3%)	0mo	$175,000	$144	86
187 SE Elm Loop	0.22mi	2/2.0 (-1)	1,189 (+1%)	6mo	$202,500	$170	78
240 SE Cameron Ter	0.27mi	3/2.0	1,225 (+4%)	5mo	$235,000	$192	76
208 SE Elm Loop	0.23mi	3/2.0	1,230 (+5%)	7mo	$192,500	$157	76
345 SE Rosewood Cir	0.20mi	2/2.0 (-1)	1,147 (-2%)	8mo	$234,000	$204	75
367 SE Tribble St	0.26mi	3/1.5	1,103 (-6%)	2mo	$160,000	$145	74
741 SE Rosewood Cir	0.38mi	2/2.0 (-1)	1,193 (+2%)	6mo	$189,000	$158	70
201 SE Rosewood Cir	0.33mi	2/2.0 (-1)	1,220 (+4%)	7mo	$187,000	$153	67
755 SE Rosewood Cir	0.38mi	2/2.0 (-1)	1,111 (-5%)	4mo	$165,000	$149	65
173 SE Jenese Way	0.59mi	2/2.0 (-1)	1,216 (+4%)	0mo	$180,000	$148	62
205 SE Tristin Ln	0.66mi	2/2.0 (-1)	1,151 (-2%)	6mo	$210,000	$182	56
734 SE Rosewood Cir	0.35mi	2/2.0 (-1)	1,017 (-13%)	2mo	$160,000	$157	55

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: 28.4%
• Equity multiple: 3.24×
• Total profit: $117,517
• Equity at exit: $168,464

10-year hold

• IRR: 24.7%
• Equity multiple: 7.37×
• Total profit: $333,560
• Equity at exit: $363,300

Cash invested: $52,360 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,758 medium
• Mortgage (P&I): −$981
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $247

Break-even live

Break-even rent $1,445

Max offer price $187,000

Occupancy floor 81%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-09
   remarks 454-char remark
2. 2026-06-09
   status $187,000 Pending 6 DOM
3. 2026-06-08
   days on market $187,000 Active 6 DOM
4. 2026-06-07
   days on market $187,000 Active 5 DOM
5. 2026-06-05
   days on market $187,000 Active 2 DOM
6. 2026-06-03
   remarks 414-char remark
7. 2026-06-03
   listed $187,000 Active 1 DOM

ⓘ 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: $1,001 · $83/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: +$552/yr (+$46/mo · 55.1%)

ⓘ 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: $21,099
• − Mortgage interest: −$10,475
• − Property taxes: −$1,001
• − Insurance: −$935
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$5,440
• Taxable loss: −$127
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $2,996/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

+367.5% since first listed

5 events — show timeline

• 2026-06-02 Listed $187,000 Stellar MLS as Distributed by MLS Grid
• 2026-06-02 Listed $187,000 NFMLS
• 2005-11-17 Sold (Public Records) $112,000 Public Records
• 2005-04-20 Sold (Public Records) $69,900 Public Records
• 1985-02-01 Sold (Public Records) $40,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $1,001 · -21.8% YoY. Source: county tax records.