234 SE Rachel Way · Lake City, FL 32025

$209,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 12 Days on market

Built 2008 0.52 ac lot Est $150k · 40% over

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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).

• Cash flow +17.6/30.0
• Appreciation +10.0/10.0
• DSCR +5.5/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Motivated Seller! What you would love about this 3BR/2BA home is not just the attractive interior but also the 18×30 graveled RV port with full RV hookups, the paved 12×20 carport, and 2 storage sheds, and that's not all; this home also had a new drain field installed in 2023 and a metal roof installed in 2020, offering years of low-maintenance living and peace of mind. In addition, you can relax on the welcoming covered front porch complete with a swing, enjoy grilling on your covered back porch, or hang out in a man cave lean-to. The fully fenced yard is also accented by fruit trees providing privacy and enjoyment. It is conveniently located 9 minutes to Winn-Dixie and 14 minu

Key facts

• Metal roof
• Vaulted ceiling
• Front porch

Tags

• VAULTED CEILING
• WALK-IN CLOSETS
• FRONT PORCH
• METAL ROOF
• RV PORT
• PAVED CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/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 $180k (14.1% below list).
• Recommended offer: $180k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.7% in Lake City — 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 73/100 on livability (#304 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, 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.
• Market conditions: 143 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k 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 $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $210k implies a 247% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,390 (14.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.86% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.35%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $150,228
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
168 SE Faye Ln	0.17mi	4/2.0 (+1)	1,560 (+11%)	9mo	$205,000	$131	61
217 SE Pearl Ter	0.60mi	2/2.0 (-1)	1,370 (-2%)	3mo	$125,000	$91	60
220 SE Pearl Ter	0.60mi	2/2.0 (-1)	1,456 (+4%)	4mo	$156,000	$107	57
244 SE Becky Ter	0.47mi	3/2.0	1,352 (-4%)	20mo	$95,000	$70	55
324 SE Pearl Ter	0.50mi	2/2.0 (-1)	1,200 (-14%)	6mo	$135,000	$113	43

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: 26.7%
• Equity multiple: 3.12×
• Total profit: $124,664
• Equity at exit: $189,095

10-year hold

• IRR: 23.3%
• Equity multiple: 7.10×
• Total profit: $358,731
• Equity at exit: $407,790

Cash invested: $58,772 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,804 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$73 /mo · $876/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $164

Break-even live

Break-even rent $1,596

Max offer price $209,900

Occupancy floor 86%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   remarks 687-char remark
2. 2026-06-19
   pricedays on market $209,900 Active 12 DOM
3. 2026-06-18
   days on market $214,900 Active 11 DOM
4. 2026-06-17
   days on market $214,900 Active 10 DOM
5. 2026-06-16
   days on market $214,900 Active 9 DOM
6. 2026-06-15
   days on market $214,900 Active 8 DOM
7. 2026-06-14
   days on market $214,900 Active 6 DOM
8. 2026-06-12
   pricedays on market $214,900 Active 5 DOM
9. 2026-06-09
   days on market $219,900 Active 2 DOM
10. 2026-06-08
    pricedays on marketlisting id $219,900 Active 1 DOM
11. 2026-06-07
    days on market $240,000 Active 19 DOM
12. 2026-06-05
    days on market $240,000 Active 16 DOM
13. 2026-06-03
    days on market $240,000 Active 15 DOM
14. 2026-06-02
    days on market $240,000 Active 14 DOM
15. 2026-06-01
    days on market $240,000 Active 13 DOM
16. 2026-05-31
    days on market $240,000 Active 12 DOM
17. 2026-05-30
    days on market $240,000 Active 11 DOM
18. 2026-05-20
    listed $240,000 Active
19. 2014-10-27
    soldstatus $60,500

ⓘ 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: $876 · $73/mo
• Projected year-2 tax: $1,742 · $145/mo
• Expected delta: +$866/yr (+$72/mo · 98.8%)

ⓘ 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 · 21 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: $21,647
• − Mortgage interest: −$11,758
• − Property taxes: −$876
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$6,106
• Taxable loss: −$1,606
• Est. tax savings @ 24.0%: +$386
• After-tax cash flow: $2,352/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 — Lake City

• Score: 73/100
• State rank: #304
• US rank: #5154

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Columbia County · 40,507 people
• City population: 40,507
• 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

+296.7% since first listed

2 events — show timeline

• 2026-05-20 Listed $240,000 FSBO.com
• 2014-10-27 Sold (Public Records) $60,500 Public Records

Property tax history

-3.1%/yr

Latest (2025): $876 · -0.8% YoY. Source: county tax records.