6989 SW State Road 26 · Fanning Springs, FL 32693

$279,900

4 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 9 Days on market

Built 1976 1.00 ac lot Est $266k · 5% 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).

• Appreciation +10.0/10.0
• Cash flow +7.3/30.0
• Schools +5.3/10.0
• ARV discount +5.1/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.4/10.0

Listing remarks MLS

REDUCED & REFRESHED! For Sale- 4 BR/1.5 BA home, on one acre in the Wilcox community. Built in 1976, this 1460 sq ft home is close to the Suwanee River and local springs, and just steps away from access to the nature trails. New laminate flooring, new bath tub, new paint. Galley style kitchen, large utility room, use 4th bedroom as a den or office. Beautiful property with large 2 car detached garage. This back yard has ample room to add a pool. Owner is motivated to sell. Look for Deen Lancaster Realty, Inc. signage.

Key facts

• Fresh paint
• New kitchen cabinets
• New countertops

Tags

• DETACHED GARAGE WORKSHOP
• NEWLY REMODELED
• FRESH PAINT
• NEW VINYL PLANK FLOORING
• NEW KITCHEN CABINETS
• NEW COUNTERTOPS

Property features AI

Finance

• Other: Property is zoned SFR; Property type: Residential — Single Family Residence; Furnished status: Unfurnished; Living area approximately 1,344 (estimated); total building area 1,460 (public records)
• HOA & community: No association

Exterior

• Parking: 2-car garage with workshop area; Ground-level parking; Bathroom in garage
• Utilities: Well water; Septic tank; High-speed internet available; Electricity available and connected; Private utilities
• Home design: Single family residence; One-story home; West-facing
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Completed condition; Built on approximately 1 acre
• Exterior features: Private mailbox; Sliding doors; Chain link fencing; Oak trees on the property; Publicly maintained paved asphalt road access; Workshop structure on property

Interior

• Kitchen: No built-in appliances listed
• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning; Electric water heater
• Interior features: Ceiling fans; Living room and dining room combo; Split bedroom floor plan; Exhaust fan
• Laundry & utility: Indoor laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-378 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (23.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (36.5% below list).
• Recommended offer: $178k (36.5% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.7% in Fanning Springs — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 63/100 on livability (#739 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute 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; 94 units permitted in Gilchrist County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k 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 ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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.
• Current owner paid $118k; list at $280k implies a 137% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,781 (36.5% 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. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.64% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.79%
• DSCR: 0.74
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $265,824
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8450 SW County Road 232	0.24mi	3/2.0 (-1)	1,430 (+15%)	20mo	$305,000	$213	43
7480 SW 85th Pl	0.62mi	3/1.0 (-1)	1,096 (-12%)	12mo	$163,000	$149	32

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: 20.2%
• Equity multiple: 2.64×
• Total profit: $128,307
• Equity at exit: $252,156

10-year hold

• IRR: 18.4%
• Equity multiple: 6.06×
• Total profit: $396,637
• Equity at exit: $543,784

Cash invested: $78,372 (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: 13.1×

Monthly cashflow live

• Estimated rent: $1,778 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$198 /mo · $2,375/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-378

Break-even live

Break-even rent $2,256

Max offer price $213,146

Occupancy floor —

Sensitivity live

Price	-10% $-219	-5% $-299	+0% $-378	+5% $-457	+10% $-536
Rent	-10% $-518	-5% $-448	+0% $-378	+5% $-308	+10% $-237
Rate	-1.0pp $-237	-0.5pp $-307	base $-378	+0.5pp $-450	+1.0pp $-524

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $279,900 Active 9 DOM
2. 2026-06-18
   days on market $279,900 Active 6 DOM
3. 2026-06-17
   days on market $279,900 Active 5 DOM
4. 2026-06-16
   days on market $279,900 Active 4 DOM
5. 2026-06-15
   days on market $279,900 Active 3 DOM
6. 2026-06-13
   remarks 268-char remark
7. 2026-06-13
   listed $279,900 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: $2,375 · $198/mo
• Projected year-2 tax: $2,375 · $198/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥108°F today · 22 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: $21,334
• − Mortgage interest: −$15,679
• − Property taxes: −$2,375
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$8,143
• Taxable loss: −$9,675
• Est. tax savings @ 24.0%: +$2,322
• After-tax cash flow: $-2,213/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 — Fanning Springs

• Score: 63/100
• State rank: #739
• US rank: #15960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

+882.1% since first listed

8 events — show timeline

• 2026-06-12 Listed $279,900 Stellar MLS as Distributed by MLS Grid
• 2020-01-06 Sold (Public Records) $117,900 Public Records
• 2019-12-26 Sold (MLS) $117,900 DGLMLS
• 2019-04-11 Listed $117,900 DGLMLS
• 2014-09-29 Sold (Public Records) $50,000 Public Records
• 2014-09-26 Sold (MLS) $50,000 DGLMLS
• 2010-09-09 Listed $59,900 DGLMLS
• 1984-04-01 Sold (Public Records) $28,500 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,375 · +5.5% YoY. Source: county tax records.