174 Turpentine Dr · Crawfordville, FL 32327

$242,900

3 bd · 2.5 ba · 1,498 sqft · Land · 181 Days on market

Built 2025 435 sqft lot $94/mo HOA · 5% of rent

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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 +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks

Model home shown. Not actual home. Features shown may not be included in the base price. 174 Turpentine Drive in Misting Springs is a modern and spacious 3-bedroom, 2 ½-bathroom townhome with an attached garage. Upon entering the townhome, you'll be welcomed by a convenient powder room and a flowing, open-concept living space. This thoughtfully designed layout boasts a designer kitchen with abundant counter and cabinet space, complemented by sleek stainless steel appliances and elegant granite countertops. The kitchen seamlessly opens into the expansive living area, allowing for a cozy sitting area and a dedicated dining space, ideal for both entertaining and daily living. Upstairs,

Key facts

• Designer kitchen
• Powder room
• Granite countertops

Tags

• DESIGNER KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• OPEN-CONCEPT LIVING SPACE
• POWDER ROOM
• EXPANSIVE LIVING AREA

Property features AI

Finance

• HOA & community: HOA fee applies; Community features include curbs and gutters and a pool

Exterior

• Parking: 1-car garage
• Utilities: Public sewer; Electric service
• Home design: New construction; 2 stories; Entry level information not provided
• Construction: New construction
• Exterior features: Paved road access; Community pool

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range
• Bedrooms: Bedroom 2 (14 x 10); Bedroom 3 (14 x 9); Primary bedroom on upper level
• Flooring: Carpet; Plank; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: High ceilings; Stall shower; Upper-level primary bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $243k.

Deal economics

• At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (22.4% below list).
• Recommended offer: $188k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 4.0% in Crawfordville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#187 in FL, #2,943 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crawfordville Elementary School (math 65% / reading 65%, grade B+, #514 of 2,144 statewide, top 24%, 684 students, 42% FRL); Wakulla Middle School (math 55% / reading 52%, grade C+, #205 of 571 statewide, top 36%, 486 students, 41% FRL); Wakulla High School (math 42% / reading 51%, grade D-, #216 of 667 statewide, top 33%, 1,418 students, 37% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 346 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($214k) is reasonable based on typical stale-listing flexibility.

Recommended offer $188,451 (22.4% 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 181 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.78% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.18% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.16×
• Total profit: $-57,012
• Equity at exit: $36,217

10-year hold

• IRR: -19.5%
• Equity multiple: -0.05×
• Total profit: $-71,167
• Equity at exit: $21,002

Cash invested: $68,012 (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 32327

• Home prices YoY: -1.5%
• Rents YoY: 3.2%
• Active inventory: 346
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$1,274
• Tax est. 1.5%: −$304 /mo · $3,644/yr
• Insurance: −$101
• HOA: −$94
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-284

Break-even live

Break-even rent $2,244

Max offer price $201,824

Occupancy floor —

Sensitivity live

Price	-10% $-116	-5% $-200	+0% $-284	+5% $-368	+10% $-452
Rent	-10% $-433	-5% $-358	+0% $-284	+5% $-209	+10% $-135
Rate	-1.0pp $-162	-0.5pp $-222	base $-284	+0.5pp $-347	+1.0pp $-411

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: $60,725
• Closing costs: $7,287
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Tafflinger Rd Crawfordville, FL	4.0	2.0	1497	$2,000	$1.34	23d	1	0.52mi
48 Ruby Ln Crawfordville, FL	3.0	2.0	1290	$1,600	$1.24	15d	1	0.63mi
7 Homestretch Ln Crawfordville, FL	1.0–3.0	1.0–2.0	931	$1,350	$1.45	23d	7	0.72mi
356 Dellwood Rd Crawfordville, FL	3.0–5.0	2.0–3.0	1796	$2,150	$1.20	15d	3	1.48mi

HOA detail

• Monthly dues: $94 · $1,128/yr

Listing history 21 events

1. 2026-06-22
   days on market $242,900 Active 181 DOM
2. 2026-06-18
   days on market $242,900 Active 178 DOM
3. 2026-06-17
   days on market $242,900 Active 177 DOM
4. 2026-06-16
   days on market $242,900 Active 176 DOM
5. 2026-06-15
   days on market $242,900 Active 175 DOM
6. 2026-06-14
   days on market $242,900 Active 173 DOM
7. 2026-06-10
   days on market $242,900 Active 170 DOM
8. 2026-06-09
   days on market $242,900 Active 169 DOM
9. 2026-06-08
   days on market $242,900 Active 168 DOM
10. 2026-06-07
    days on market $242,900 Active 167 DOM
11. 2026-06-05
    days on market $242,900 Active 164 DOM
12. 2026-06-03
    days on market $242,900 Active 163 DOM
13. 2026-06-02
    days on market $242,900 Active 162 DOM
14. 2026-06-01
    days on market $242,900 Active 161 DOM
15. 2026-05-31
    days on market $242,900 Active 160 DOM
16. 2026-05-30
    days on market $242,900 Active 159 DOM
17. 2026-05-22
    price $242,900
18. 2026-05-07
    price $244,900
19. 2026-02-06
    price $245,900
20. 2025-12-22
    listed $270,900 Active
21. 2025-04-24
    soldstatus $3,755,838

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,614
• − Mortgage interest: −$13,606
• − Property taxes: −$3,644
• − Insurance: −$1,214
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − HOA: −$1,128
• − Depreciation: −$7,066
• Taxable loss: −$7,662
• Est. tax savings @ 24.0%: +$1,839
• After-tax cash flow: $-1,567/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: Wakulla
• NCES district ID: 1201950
• Math proficiency: 56% ▼ -7.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $53,740
• Composite: 48.12/100
• National rank: #2183
• State rank: #18 of 73 in FL

Livability — Crawfordville

• Score: 77/100
• State rank: #187
• US rank: #2943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wakulla County · 31,445 people
• City population: 31,445
• Metro: Tallahassee, FL
• Population (ZIP): 31,445
• Household income: $84,138
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 360.0

Population outlook (Wakulla County) Hauer SSP2

• Today (2025): 32,809 people
• By 2030: 33,165 · +1.1%
• By 2040: 33,245 · +1.3%
• By 2050: 32,539 · -0.8%
• By 2075: 29,676 · -9.5%
• By 2100: 22,931 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 15% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Italian 5% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Wakulla

• 2024 margin: Solid R (+44.4) · D 27.4% · R 71.8%
• 2008→2024 swing: -19.5pp toward R · 2008: -24.8pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+40.9 2016: R+40.1 2012: R+28.1 2008: R+24.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.59%
• Current HPI: 302.1883
• Rent YoY: ▲ 3.18%
• Metro: Tallahassee, 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

-93.5% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $242,900 CATRS
• 2026-05-07 Price Changed $244,900 CATRS
• 2026-02-06 Price Changed $245,900 CATRS
• 2025-12-22 Listed $270,900 CATRS
• 2025-04-24 Sold (Public Records) $3,755,838 Public Records