413 NE 7th St · Trenton, FL 32693

$515,000

3 bd · 2.0 ba · 1,946 sqft · SingleFamily public records · 1186 Days on market

Built 1977 1.16 ac lot $265/sqft · 34% below area Est $786k · 34% 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 +15.0/15.0
• Appreciation +10.0/10.0
• Schools +5.3/10.0
• Livability +3.9/5.0
• Cash flow +3.0/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

INVESTMENT ALERT - TRENTON FLORIDA! 3 homes in the heart of town! Two 3/2 DW mobile homes and a 4/2 CB home sitting on just over an acre in a beautiful neighborhood. The mobile homes were both manufactured in 2003 and consist of 828 sq ft with an open floor plan. 3 large bedrooms perfect for a small family. The CB home sits in the back of the property and boasts 4 large bedrooms and a bonus room that could easily be used for an office or an additional family room/den. Huge living room with a wood burning fireplace, spacious kitchen and a separate dining room. Long term rental histories and each home is currently occupied. This is a prime turnkey investment opportunity. Call today to schedule a tour!

Key facts

• 1.16 acre lot
• Built 1977
• Listed 1186 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $515k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (57.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (61.2% below list).
• Recommended offer: $200k (61.2% below list) — sets the bar for 1% rule.
• Cap rate 2.4% vs local median 4.9% in Trenton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#207 in FL, #3,078 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Gilchrist (rural): math 66% / reading 61% proficiency, ranked #9 of 73 in FL (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Trenton Elementary School (math 71% / reading 59%, grade B+, #514 of 2,144 statewide, top 24%, 809 students, 58% FRL).
• Market conditions: 198 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 94 units permitted in Gilchrist County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $55k of equity ($4k loan paydown + $52k appreciation (10.0% local appreciation)).
• Gilchrist County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$89k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 1186 days — a 12% lower offer ($453k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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.

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 $200,000 (61.2% 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 1186 days. Have you received any prior offers? Is the seller open to a 61% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.39% ✗
• Cap rate: 2.42%
• Cash-on-cash: -13.82%
• DSCR: 0.39
• GRM: 21.5

CMA / ARV

• ARV (median comp): $786,249
• List price: $515,000
• Delta: -34.50%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 NE 2nd St	0.29mi	3/1.0	1,806 (-7%)	2mo	$35,000	$19	68
310 NE 2nd Ave	0.28mi	4/3.0 (+1)	2,075 (+7%)	21mo	$233,000	$112	50
407 SW First St	0.61mi	3/2.0	1,756 (-10%)	22mo	$217,600	$124	37
632 S Main St	0.64mi	4/2.0 (+1)	1,777 (-9%)	18mo	$315,000	$177	36
509 NW 5th Ave	0.71mi	3/2.0	1,740 (-11%)	22mo	$247,000	$142	31

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: 14.6%
• Equity multiple: 2.21×
• Total profit: $174,571
• Equity at exit: $463,953

10-year hold

• IRR: 14.5%
• Equity multiple: 5.14×
• Total profit: $596,912
• Equity at exit: $1,000,532

Cash invested: $144,200 (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 32693

• Home prices YoY: 14.8%
• Active inventory: 198
• Price-to-rent: 21.5×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$2,701
• Tax from tax record: −$325 /mo · $3,900/yr
• Insurance: −$215
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-1,660

Break-even live

Break-even rent $4,102

Max offer price $221,700

Occupancy floor —

Sensitivity live

Price	-10% $-1,369	-5% $-1,515	+0% $-1,660	+5% $-1,806	+10% $-1,952
Rent	-10% $-1,818	-5% $-1,739	+0% $-1,660	+5% $-1,581	+10% $-1,502
Rate	-1.0pp $-1,401	-0.5pp $-1,529	base $-1,660	+0.5pp $-1,794	+1.0pp $-1,930

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: $128,750
• Closing costs: $15,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 SW 1st St Trenton, FL	3.0	2.0	1508	$2,000	$1.33	15d	1	0.62mi

Listing history 25 events

1. 2026-06-21
   days on market $515,000 Active 1186 DOM
2. 2026-06-18
   days on market $515,000 Active 1183 DOM
3. 2026-06-17
   days on market $515,000 Active 1182 DOM
4. 2026-06-16
   days on market $515,000 Active 1181 DOM
5. 2026-06-15
   days on market $515,000 Active 1180 DOM
6. 2026-06-14
   days on market $515,000 Active 1178 DOM
7. 2026-06-13
   days on market $515,000 Active 1177 DOM
8. 2026-06-10
   days on market $515,000 Active 1175 DOM
9. 2026-06-09
   days on market $515,000 Active 1174 DOM
10. 2026-06-08
    days on market $515,000 Active 1173 DOM
11. 2026-06-07
    days on market $515,000 Active 1172 DOM
12. 2026-06-05
    days on market $515,000 Active 1169 DOM
13. 2026-06-02
    days on market $515,000 Active 1167 DOM
14. 2026-06-01
    days on market $515,000 Active 1166 DOM
15. 2026-05-31
    days on market $515,000 Active 1165 DOM
16. 2026-05-30
    days on market $515,000 Active 1164 DOM
17. 2025-03-02
    status Active 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT ALERT - TRENTON FLORIDA! 3 homes in the heart of town! Two 3/2 DW mobile homes and a 4/2 CB home sitting on just over an acre in a beautiful neighborhood. The mobile homes were both manufactured in 2003 and consist of 828 sq ft with an open floor plan. 3 large bedrooms perfect for a small family. The CB home sits in the back of the property and boasts 4 large bedrooms and a bonus room that could easily be used for an office or an additional family room/den. Huge living room with a wood burning fireplace, spacious kitchen and a separate dining room. Long term rental histories and each home is currently occupied. This is a prime turnkey investment opportunity. Call today to schedule a tour!

18. 2024-09-03
    status Active 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT ALERT - TRENTON FLORIDA! 3 homes in the heart of town! Two 3/2 DW mobile homes and a 4/2 CB home sitting on just over an acre in a beautiful neighborhood. The mobile homes were both manufactured in 2003 and consist of 828 sq ft with an open floor plan. 3 large bedrooms perfect for a small family. The CB home sits in the back of the property and boasts 4 large bedrooms and a bonus room that could easily be used for an office or an additional family room/den. Huge living room with a wood burning fireplace, spacious kitchen and a separate dining room. Long term rental histories and each home is currently occupied. This is a prime turnkey investment opportunity. Call today to schedule a tour!

19. 2023-09-03
    status Active 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT ALERT - TRENTON FLORIDA! 3 homes in the heart of town! Two 3/2 DW mobile homes and a 4/2 CB home sitting on just over an acre in a beautiful neighborhood. The mobile homes were both manufactured in 2003 and consist of 828 sq ft with an open floor plan. 3 large bedrooms perfect for a small family. The CB home sits in the back of the property and boasts 4 large bedrooms and a bonus room that could easily be used for an office or an additional family room/den. Huge living room with a wood burning fireplace, spacious kitchen and a separate dining room. Long term rental histories and each home is currently occupied. This is a prime turnkey investment opportunity. Call today to schedule a tour!

20. 2023-08-09
    historical 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT ALERT - TRENTON FLORIDA! 3 homes in the heart of town! Two 3/2 DW mobile homes and a 4/2 CB home sitting on just over an acre in a beautiful neighborhood. The mobile homes were both manufactured in 2003 and consist of 828 sq ft with an open floor plan. 3 large bedrooms perfect for a small family. The CB home sits in the back of the property and boasts 4 large bedrooms and a bonus room that could easily be used for an office or an additional family room/den. Huge living room with a wood burning fireplace, spacious kitchen and a separate dining room. Long term rental histories and each home is currently occupied. This is a prime turnkey investment opportunity. Call today to schedule a tour!

21. 2022-07-28
    listed $515,000 Active 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT ALERT - TRENTON FLORIDA! 3 homes in the heart of town! Two 3/2 DW mobile homes and a 4/2 CB home sitting on just over an acre in a beautiful neighborhood. The mobile homes were both manufactured in 2003 and consist of 828 sq ft with an open floor plan. 3 large bedrooms perfect for a small family. The CB home sits in the back of the property and boasts 4 large bedrooms and a bonus room that could easily be used for an office or an additional family room/den. Huge living room with a wood burning fireplace, spacious kitchen and a separate dining room. Long term rental histories and each home is currently occupied. This is a prime turnkey investment opportunity. Call today to schedule a tour!

22. 2021-12-31
    historical
23. 2021-06-16
    listed $349,900
24. 2001-04-20
    historical
25. 2000-10-20
    listed $94,895

ⓘ 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: $3,900 · $325/mo
• Projected year-2 tax: $4,274 · $356/mo
• Expected delta: +$374/yr (+$31/mo · 9.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$28,848
• − Property taxes: −$3,900
• − Insurance: −$2,575
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$14,982
• Taxable loss: −$30,145
• Est. tax savings @ 24.0%: +$7,235
• After-tax cash flow: $-12,689/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: Gilchrist
• NCES district ID: 1200630
• Math proficiency: 66% ▼ -4.00%
• Reading proficiency: 61% ▼ -5.00%
• Median HH income: $39,610
• Composite: 53.01/100
• National rank: #1522
• State rank: #9 of 73 in FL

Livability — Trenton

• Score: 77/100
• State rank: #207
• US rank: #3078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, FL
• Population (ZIP): 11,692

Population outlook (Gilchrist County) Hauer SSP2

• Today (2025): 17,730 people
• By 2030: 17,722 · +-0.0%
• By 2040: 17,393 · -1.9%
• By 2050: 16,597 · -6.4%
• By 2075: 14,300 · -19.3%
• By 2100: 11,498 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Gilchrist

• 2024 margin: Solid R (+68.0) · D 15.6% · R 83.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -46.8pp · 2024: -68.0pp
• All cycles: 2024: R+68.0 2020: R+64.0 2016: R+62.8 2012: R+51.0 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 46.81%
• Current HPI: 363.4299
• Rent YoY: —
• Metro: —
• 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

+442.7% since first listed

9 events — show timeline

• 2025-03-02 Relisted — DGLMLS
• 2024-09-03 Relisted — DGLMLS
• 2023-09-03 Relisted — DGLMLS
• 2023-08-09 Delisted — DGLMLS
• 2022-07-28 Listed $515,000 DGLMLS
• 2021-12-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2021-06-16 Listed $349,900 Stellar MLS as Distributed by MLS Grid
• 2001-04-20 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2000-10-20 Listed $94,895 Stellar MLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $3,900 · +3.9% YoY. Source: county tax records.