314 Madison St · Palatka, FL 32177

$239,000

5 bd · 3.0 ba · 3,504 sqft · SingleFamily public records · 20 Days on market

Built 1885 0.26 ac lot Est $301k · 21% under

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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 +15.6/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +3.2/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the heart of the historic district and just moments from the St. Johns River, this stunning 1900-built home offers timeless elegance and endless possibilities. Situated on a spacious 0.27-acre lot, this 3,504 sq. ft. residence boasts five bedrooms and three bathrooms, providing ample space for comfortable living and creative design. From the moment you step inside, you'll be captivated by the exquisite original herringbone-patterned floors and beautiful hardwood flooring throughout. The inviting living room features a cozy fireplace, perfect for gathering with family and friends. Enjoy year-round serenity on the screened front porch an ideal spot for morning coffee or evening relaxation. The enormous upstairs master suite offers generous closet space, ensuring abundant storage. Surrounded by picturesque, tree-lined streets, stately homes, and charming cobblestone roads, this exceptional property blends historic character with a highly desirable location.

Key facts

• Ornate staircase
• Victorian residence
• Original wood floors

Tags

• VICTORIAN RESIDENCE
• QUEEN ANNE INFLUENCES
• NORTH HISTORIC DISTRICT
• ORIGINAL WOOD FLOORS
• ORNATE STAIRCASE
• FLOOR-TO-CEILING WINDOWS

Property features AI

Finance

• HOA & community: Sidewalks; Not a senior community

Exterior

• Parking: Additional parking; Off-street parking; On-street parking; RV access/parking
• Utilities: Public sewer; Electricity connected; Water connected; Sewer connected; Cable available
• Home design: Single family residence; Two levels; Faces south
• Construction: Wood siding; Shingle roof
• Exterior features: Front porch; Rear porch; Side porch; Screened porch; Located in a historic area; City street frontage

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: 5 bedrooms (some located on upper level)
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air; Wall/window unit(s)
• Interior features: Built-in features; Butler pantry; Entrance foyer; Walk-in closet(s); Family room on main level
• Laundry & utility: Washer/dryer stacked; Washer hookup; Electric dryer hookup (lower level)

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/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 $195k (18.3% below list).
• Recommended offer: $195k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.8% in Palatka — 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 58/100 on livability (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D, amenities F.
• Putnam (town): math 34% / reading 39% proficiency, ranked #66 of 73 in FL (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: James A. Long Elementary School (math 37% / reading 37%, grade F, #1,609 of 2,144 statewide, top 77%, 552 students, 66% FRL); Palatka Jr - Sr High School (math 13% / reading 30%, grade F, #546 of 667 statewide, top 82%, 1,639 students, 64% FRL).
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• At $1,953/mo this rent would consume 49% of the median local household income ($48k/yr) (locally 806% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago; this cycle's ask has dropped $41k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $195,339 (18.3% below list)

Questions for the listing agent

1. Built in 1885 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.82% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $301,344
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 Madison St	0.00mi	5/3.0	3,504 (0%)	0mo	$230,000	$66	100
417 N 3rd St	0.06mi	5/4.5	3,076 (-12%)	10mo	$265,000	$86	62
116 Kirkland St	0.49mi	5/5.0	3,648 (+4%)	6mo	$470,000	$129	57
314 Emmett St	0.39mi	4/4.0 (-1)	3,176 (-9%)	20mo	$98,700	$31	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-33,852
• Equity at exit: $35,636

10-year hold

• IRR: -6.7%
• Equity multiple: 0.59×
• Total profit: $-27,609
• Equity at exit: $20,664

Cash invested: $66,920 (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 32177

• Home prices YoY: -28.1%
• Rents YoY: 2.2%
• Active inventory: 319
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$89 /mo · $1,063/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $102

Break-even live

Break-even rent $1,825

Max offer price $239,000

Occupancy floor 90%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-05
   statusdays on market $239,000 Pending 20 DOM
2. 2026-06-03
   days on market $239,000 Active 19 DOM
3. 2026-06-02
   pricedays on market $239,000 Active 18 DOM
4. 2026-06-01
   days on market $279,900 Active 17 DOM
5. 2026-05-31
   days on market $279,900 Active 16 DOM
6. 2026-05-13
   listed $279,900 Active
7. 2025-08-12
   soldstatus $209,900
8. 2025-08-11
   soldstatus $209,000 Closed 979-char remark

   Show marketing remark (979 chars)

   Nestled in the heart of the historic district and just moments from the St. Johns River, this stunning 1900-built home offers timeless elegance and endless possibilities. Situated on a spacious 0.27-acre lot, this 3,504 sq. ft. residence boasts five bedrooms and three bathrooms, providing ample space for comfortable living and creative design. From the moment you step inside, you'll be captivated by the exquisite original herringbone-patterned floors and beautiful hardwood flooring throughout. The inviting living room features a cozy fireplace, perfect for gathering with family and friends. Enjoy year-round serenity on the screened front porch an ideal spot for morning coffee or evening relaxation. The enormous upstairs master suite offers generous closet space, ensuring abundant storage. Surrounded by picturesque, tree-lined streets, stately homes, and charming cobblestone roads, this exceptional property blends historic character with a highly desirable location.

9. 2025-07-11
   status Pending 979-char remark

   Show marketing remark (979 chars)

   Nestled in the heart of the historic district and just moments from the St. Johns River, this stunning 1900-built home offers timeless elegance and endless possibilities. Situated on a spacious 0.27-acre lot, this 3,504 sq. ft. residence boasts five bedrooms and three bathrooms, providing ample space for comfortable living and creative design. From the moment you step inside, you'll be captivated by the exquisite original herringbone-patterned floors and beautiful hardwood flooring throughout. The inviting living room features a cozy fireplace, perfect for gathering with family and friends. Enjoy year-round serenity on the screened front porch an ideal spot for morning coffee or evening relaxation. The enormous upstairs master suite offers generous closet space, ensuring abundant storage. Surrounded by picturesque, tree-lined streets, stately homes, and charming cobblestone roads, this exceptional property blends historic character with a highly desirable location.

10. 2025-06-25
    price $209,900 979-char remark

    Show marketing remark (979 chars)

    Nestled in the heart of the historic district and just moments from the St. Johns River, this stunning 1900-built home offers timeless elegance and endless possibilities. Situated on a spacious 0.27-acre lot, this 3,504 sq. ft. residence boasts five bedrooms and three bathrooms, providing ample space for comfortable living and creative design. From the moment you step inside, you'll be captivated by the exquisite original herringbone-patterned floors and beautiful hardwood flooring throughout. The inviting living room features a cozy fireplace, perfect for gathering with family and friends. Enjoy year-round serenity on the screened front porch an ideal spot for morning coffee or evening relaxation. The enormous upstairs master suite offers generous closet space, ensuring abundant storage. Surrounded by picturesque, tree-lined streets, stately homes, and charming cobblestone roads, this exceptional property blends historic character with a highly desirable location.

11. 2025-05-16
    price $299,900 979-char remark

    Show marketing remark (979 chars)

    Nestled in the heart of the historic district and just moments from the St. Johns River, this stunning 1900-built home offers timeless elegance and endless possibilities. Situated on a spacious 0.27-acre lot, this 3,504 sq. ft. residence boasts five bedrooms and three bathrooms, providing ample space for comfortable living and creative design. From the moment you step inside, you'll be captivated by the exquisite original herringbone-patterned floors and beautiful hardwood flooring throughout. The inviting living room features a cozy fireplace, perfect for gathering with family and friends. Enjoy year-round serenity on the screened front porch an ideal spot for morning coffee or evening relaxation. The enormous upstairs master suite offers generous closet space, ensuring abundant storage. Surrounded by picturesque, tree-lined streets, stately homes, and charming cobblestone roads, this exceptional property blends historic character with a highly desirable location.

12. 2025-03-25
    listed $319,900 Active 979-char remark

    Show marketing remark (979 chars)

    Nestled in the heart of the historic district and just moments from the St. Johns River, this stunning 1900-built home offers timeless elegance and endless possibilities. Situated on a spacious 0.27-acre lot, this 3,504 sq. ft. residence boasts five bedrooms and three bathrooms, providing ample space for comfortable living and creative design. From the moment you step inside, you'll be captivated by the exquisite original herringbone-patterned floors and beautiful hardwood flooring throughout. The inviting living room features a cozy fireplace, perfect for gathering with family and friends. Enjoy year-round serenity on the screened front porch an ideal spot for morning coffee or evening relaxation. The enormous upstairs master suite offers generous closet space, ensuring abundant storage. Surrounded by picturesque, tree-lined streets, stately homes, and charming cobblestone roads, this exceptional property blends historic character with a highly desirable location.

13. 2013-06-17
    soldstatus $39,000 230-char remark

    Show marketing remark (230 chars)

    REDUCED! Lots of potential with this Spacious Historic Home in Heart of Palatka. This Grand Home has a Queen Anne influence with projecting bay windows, gable roof dormer, encircling veranda, and fireplace on well landscaped lot.

14. 2013-06-17
    soldstatus $39,000

    Show marketing remark (230 chars)

    REDUCED! Lots of potential with this Spacious Historic Home in Heart of Palatka. This Grand Home has a Queen Anne influence with projecting bay windows, gable roof dormer, encircling veranda, and fireplace on well landscaped lot.

15. 2013-03-14
    listed $49,900 230-char remark

    Show marketing remark (230 chars)

    REDUCED! Lots of potential with this Spacious Historic Home in Heart of Palatka. This Grand Home has a Queen Anne influence with projecting bay windows, gable roof dormer, encircling veranda, and fireplace on well landscaped lot.

16. 2013-03-14
    listed $49,900

    Show marketing remark (230 chars)

    REDUCED! Lots of potential with this Spacious Historic Home in Heart of Palatka. This Grand Home has a Queen Anne influence with projecting bay windows, gable roof dormer, encircling veranda, and fireplace on well landscaped lot.

17. 2010-11-10
    historical
18. 2010-05-24
    listed $129,000
19. 2010-01-31
    historical
20. 2009-12-02
    historical
21. 2009-11-25
    listed $239,900
22. 2009-08-01
    listed $239,900
23. 2008-09-01
    historical
24. 2008-03-01
    listed $279,900
25. 1999-01-19
    soldstatus $72,000
26. 1975-10-01
    soldstatus $24,900

ⓘ 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: $1,063 · $89/mo
• Projected year-2 tax: $1,984 · $165/mo
• Expected delta: +$921/yr (+$77/mo · 86.7%)

ⓘ 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 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,441
• − Mortgage interest: −$13,388
• − Property taxes: −$1,063
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$6,953
• Taxable loss: −$2,908
• Est. tax savings @ 24.0%: +$698
• After-tax cash flow: $1,918/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: Putnam
• NCES district ID: 1201620
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $33,350
• Composite: 29.99/100
• National rank: #6361
• State rank: #66 of 73 in FL

Livability — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palatka, FL
• County: Putnam County · 25,645 people
• City population: 25,645
• Metro: Palatka, FL
• Population (ZIP): 25,645
• Household income: $47,796
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 806.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 65,299 people
• By 2030: 61,255 · -6.2%
• By 2040: 52,930 · -18.9%
• By 2050: 45,051 · -31.0%
• By 2075: 28,720 · -56.0%
• By 2100: 15,852 · -75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 2% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -19.3pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+41.2 2016: R+36.6 2012: R+24.5 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.10%
• Current HPI: 223.1966
• Rent YoY: ▲ 2.23%
• Metro: Palatka, 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

+1024.1% since first listed

21 events — show timeline

• 2026-05-13 Listed $279,900 realMLS
• 2025-08-12 Sold (Public Records) $209,900 Public Records
• 2025-08-11 Sold (MLS) $209,000 realMLS
• 2025-07-11 Pending — realMLS
• 2025-06-25 Price Changed $209,900 realMLS
• 2025-05-16 Price Changed $299,900 realMLS
• 2025-03-25 Listed $319,900 realMLS
• 2013-06-17 Sold (MLS) $39,000 Stellar MLS as Distributed by MLS Grid
• 2013-06-17 Sold (MLS) $39,000 realMLS
• 2013-03-14 Listed $49,900 Stellar MLS as Distributed by MLS Grid
• 2013-03-14 Listed $49,900 realMLS
• 2010-11-10 Listing Removed — realMLS
• 2010-05-24 Listed $129,000 realMLS
• 2010-01-31 Listing Removed — realMLS
• 2009-12-02 Listing Removed — realMLS
• 2009-11-25 Listed $239,900 realMLS
• 2009-08-01 Listed $239,900 realMLS
• 2008-09-01 Listing Removed — realMLS
• 2008-03-01 Listed $279,900 realMLS
• 1999-01-19 Sold (Public Records) $72,000 Public Records
• 1975-10-01 Sold (Public Records) $24,900 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,063 · +4.3% YoY. Source: county tax records.