2693 CR 426f · Lake Panasoffkee, FL 33538

$70,000

2 bd · 1.0 ba · 560 sqft · SingleFamily public records · 274 Days on market

Built 1997 6,969 sqft lot Est $52k · 36% over

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.5/10.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

Key facts

• Lake panasoffkee
• Garden area
• 6,969 sq ft lot

Tags

• GARDEN AREA
• LAKE PANASOFFKEE

Property features AI

Finance

• Other: Living area listed as 560 sq ft (building area 632 sq ft); Property has lake access
• HOA & community: No association

Exterior

• Parking: 2-car garage
• Utilities: Public water; Septic tank sewer; Electricity connected; Propane available; Cable available; Broadband/high-speed internet available; Water connected
• Home design: Single family residence; One story; Residence faces east; Residential zoning (R-1); Homestead exempt
• Construction: Frame construction with wood siding; Metal roof; Crawlspace foundation; Built on a 0.16-acre lot (approx. 0.16 acres); Paved road access
• Exterior features: Private mailbox; Rain gutters; Outdoor storage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; No central cooling
• Interior features: Ceiling fans; Eat-in kitchen; Solid wood cabinets; Window treatments
• Laundry & utility: No laundry room (none listed); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 5.1% in Lake Panasoffkee — 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 72/100 on livability (#332 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lake Panasoffkee Elementary School (math 62% / reading 66%, grade B, #552 of 2,144 statewide, top 26%, 584 students, 65% FRL); South Sumter High School (math 33% / reading 48%, grade F, #294 of 667 statewide, top 44%, 1,045 students, 52% FRL).
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($484 loan paydown + $3k appreciation (5.0% local appreciation)).
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y ago; this cycle's ask has dropped $13k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $70k implies a 233% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.75% ✓
• Cap rate: 15.51%
• Cash-on-cash: 32.92%
• DSCR: 2.46
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $51,520
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2573 CR 426a	0.30mi	2/1.0	623 (+11%)	4mo	$34,100	$55	64
1568 CR 434	0.57mi	2/1.0	600 (+7%)	21mo	$55,000	$92	44

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

Projected returns pro-forma

4.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.8%
• Equity multiple: 3.57×
• Total profit: $50,318
• Equity at exit: $39,615

10-year hold

• IRR: 39.8%
• Equity multiple: 7.25×
• Total profit: $122,511
• Equity at exit: $68,325

Cash invested: $19,600 (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 33538

• Home prices YoY: 1.5%
• Active inventory: 86
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$34 /mo · $405/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $538

Break-even live

Break-even rent $544

Max offer price $70,000

Occupancy floor 51%

Sensitivity live

Price	-10% $577	-5% $558	+0% $538	+5% $518	+10% $498
Rent	-10% $441	-5% $489	+0% $538	+5% $586	+10% $635
Rate	-1.0pp $573	-0.5pp $556	base $538	+0.5pp $520	+1.0pp $501

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2248 CR 446 Lake Panasoffkee, FL	1.0	1.0	650	$1,225	$1.88	21d	1	0.70mi

Listing history 36 events

1. 2026-06-19
   days on market $70,000 Active 274 DOM
2. 2026-06-18
   days on market $70,000 Active 273 DOM
3. 2026-06-17
   days on market $70,000 Active 272 DOM
4. 2026-06-16
   days on market $70,000 Active 271 DOM
5. 2026-06-15
   days on market $70,000 Active 270 DOM
6. 2026-06-14
   days on market $70,000 Active 268 DOM
7. 2026-06-13
   days on market $70,000 Active 267 DOM
8. 2026-06-10
   days on market $70,000 Active 265 DOM
9. 2026-06-09
   days on market $70,000 Active 264 DOM
10. 2026-06-08
    days on market $70,000 Active 263 DOM
11. 2026-06-07
    days on market $70,000 Active 262 DOM
12. 2026-06-02
    days on market $70,000 Active 257 DOM
13. 2026-06-01
    days on market $70,000 Active 256 DOM
14. 2026-05-31
    days on market $70,000 Active 255 DOM
15. 2026-05-30
    days on market $70,000 Active 254 DOM
16. 2026-05-07
    status Active
17. 2026-04-23
    status Pending
18. 2026-04-16
    price $70,000
19. 2026-03-03
    status Active
20. 2026-02-17
    status Pending
21. 2026-01-28
    status Active
22. 2026-01-22
    status Pending
23. 2026-01-20
    status Active
24. 2026-01-08
    status Pending
25. 2025-09-16
    status Active
26. 2025-09-15
    status Pending
27. 2025-09-02
    status Active
28. 2025-08-29
    status Pending
29. 2025-07-30
    listed $83,000 Active
30. 2016-06-10
    historical 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

31. 2016-06-10
    soldstatus $21,000 Sold 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

32. 2016-05-23
    status Pending 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

33. 2016-05-03
    price $24,900 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

34. 2016-05-03
    status Active 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

35. 2016-04-30
    historical 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

36. 2015-10-21
    listed $29,900 Active 494-char remark

    Show marketing remark (494 chars)

    Owner says make an offer!!! Back to the Simple Life!! This home could be like one of those tiny houses. . with the right remodel you could make every inch of this small 560 sq ft home usable. Could be a nice weekend getaway or live full time. The home was built around 1960 but electric was updated in 1997 so county has it listed as being built in 1997. There are no appliances, no heat or air. (air was stolen) Huge garage, part has concrete floor but the rest is dirt. It does have electric.

ⓘ 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: $405 · $34/mo
• Projected year-2 tax: $581 · $48/mo
• Expected delta: +$176/yr (+$15/mo · 43.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 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: $14,700
• − Mortgage interest: −$3,921
• − Property taxes: −$405
• − Insurance: −$350
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,036
• Taxable income: $5,635
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $5,100/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: Sumter
• NCES district ID: 1201800
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $48,240
• Composite: 51.74/100
• National rank: #1682
• State rank: #11 of 73 in FL

Livability — Lake Panasoffkee

• Score: 72/100
• State rank: #332
• US rank: #5777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Panasoffkee, FL
• Population (ZIP): 5,748

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 161,172 people
• By 2030: 180,083 · +11.7%
• By 2040: 209,892 · +30.2%
• By 2050: 234,186 · +45.3%
• By 2075: 284,602 · +76.6%
• By 2100: 317,039 · +96.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 7% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Sumter

• 2024 margin: Solid R (+37.6) · D 30.9% · R 68.6%
• 2008→2024 swing: -10.6pp toward R · 2008: -27.0pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+36.1 2016: R+39.2 2012: R+34.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.99%
• Current HPI: 329.8431
• 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

+134.1% since first listed

21 events — show timeline

• 2026-05-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-04-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $70,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-28 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-20 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-16 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-09-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-02 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-08-29 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-30 Listed $83,000 Stellar MLS as Distributed by MLS Grid
• 2016-06-10 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2016-06-10 Sold (MLS) $21,000 Stellar MLS as Distributed by MLS Grid
• 2016-05-23 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-05-03 Price Changed $24,900 Stellar MLS as Distributed by MLS Grid
• 2016-05-03 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-04-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2015-10-21 Listed $29,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+10.9%/yr

Latest (2025): $405 · +3.1% YoY. Source: county tax records.