1310 Cleveland Ave · Palatka, FL 32177

$5,000

2 bd · 1.0 ba · 957 sqft · SingleFamily public records · 5 Days on market

Built 1964 10,019 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.1/5.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained 3-bedroom 1 bath home is perfect for the small family, retirees or first-time buyers! With a spacious layout, carport, screened porch and shed located in a convenient location near schools, shopping and unban amenities. VA, FHA, USDA and conventional financing all available on this one!

Key facts

• 0.23 acre lot
• Parking
• Built 1964

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: Other water source; Other sewer
• Home design: Single family residence; One level; Residential property
• Construction: Construction materials: see remarks
• Exterior features: Front porch; Other roof

Interior

• Bedrooms: Total of 1 room
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Other flooring

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$158,862) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $5k).
• Cap rate 265.6% vs local median 3.8% in Palatka — 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 58/100 on livability (#839 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools C-, health & safety C-, crime D.
• Putnam (town): math 34% / reading 39% proficiency, ranked #66 of 73 in FL (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 319 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 113 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $35 of loan paydown is wiped out by about $150 of value loss. Plan a longer hold.
• Putnam County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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?
5. 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.
6. 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.
7. 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: 28.23% ✓
• Cap rate: 265.64%
• Cash-on-cash: 926.23%
• DSCR: 42.21
• GRM: 0.3

CMA / ARV

• ARV (on-the-fly): $158,862
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 Cleveland Ave	0.24mi	3/1.0 (+1)	980 (+2%)	2mo	$125,000	$128	78
2213 Gillis St	0.68mi	2/1.0	952 (-0%)	7mo	$79,000	$83	61
1922 Locust Ave	0.61mi	2/1.0	984 (+3%)	7mo	$179,950	$183	61
1121 S Palm Ave	0.62mi	2/1.0	1,008 (+5%)	4mo	$164,500	$163	59
1520 President St	0.47mi	2/1.0	850 (-11%)	1mo	$82,000	$96	58
1508 Roselle Ave	0.35mi	3/1.0 (+1)	850 (-11%)	3mo	$158,000	$186	58
2007 Sherman Ave	0.69mi	3/1.0 (+1)	960 (+0%)	7mo	$196,000	$204	57
113 W Oak Hill Dr	0.53mi	2/1.0	849 (-11%)	2mo	$165,000	$194	55
1510 President St	0.48mi	3/1.0 (+1)	1,036 (+8%)	6mo	$101,793	$98	54
805 S 15th St	0.49mi	3/1.0 (+1)	1,054 (+10%)	6mo	$175,000	$166	51
1304 President St	0.60mi	3/1.0 (+1)	1,068 (+12%)	1mo	$175,000	$164	46
102 Fernwood St	0.73mi	3/2.0 (+1)	981 (+2%)	9mo	$183,000	$187	45

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

Projected returns pro-forma

-3.0% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 48.82×
• Total profit: $66,950
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 102.87×
• Total profit: $142,622
• Equity at exit: $432

Cash invested: $1,400 (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 32177

• Home prices YoY: -28.1%
• Rents YoY: 2.2%
• Active inventory: 319
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $1,081

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 18%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2113 Silver Lake Dr Palatka, FL	2.0	1.0	988	$1,500	$1.52	23d	1	0.07mi
1510 Cleveland Ave Palatka, FL	2.0	1.0	916	$1,350	$1.47	23d	1	0.21mi
3115 Carter Ln Palatka, FL	2.0	1.0	684	$900	$1.32	21d	1	0.57mi
1510 Laurel St Palatka, FL	3.0	1.0	1080	$1,659	$1.54	3d	1	0.78mi
3523 Whitehall St Palatka, FL	3.0	2.0	1078	$2,000	$1.86	23d	1	1.26mi
3301 Druid St Palatka, FL	3.0	1.0	856	$1,600	$1.87	23d	1	1.29mi
1010 Bronson St Unit 3 Palatka, FL	1.0	1.0	650	$975	$1.50	23d	1	1.37mi
1010 Bronson St Apt 12 Palatka, FL	2.0	1.0	700	$1,095	$1.56	3d	1	1.37mi
716 Bronson St Palatka, FL	3.0	1.0	900	$1,175	$1.31	23d	1	1.47mi
105 N 2nd St Palatka, FL	2.0	2.0	924	$1,650	$1.79	23d	1	1.49mi

Listing history 5 events

1. 2026-06-09
   days on market $5,000 Active 5 DOM
2. 2026-06-08
   days on market $5,000 Active 4 DOM
3. 2026-06-07
   days on market $5,000 Active 3 DOM
4. 2026-06-05
   remarks 295-char remark
5. 2026-06-05
   listed $5,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,939
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$145
• Taxable income: $13,703
• Est. tax owed @ 24.0%: −$3,289
• After-tax cash flow: $9,678/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: Putnam
• NCES district ID: 1201620
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $33,350
• Composite: 29.99/100
• National rank: #6361
• State rank: #66 of 73 in FL

Livability — Palatka

• Score: 58/100
• State rank: #839
• US rank: #20793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palatka, FL
• County: Putnam County · 25,645 people
• City population: 25,645
• Metro: Palatka, FL
• Population (ZIP): 25,645
• Household income: $47,796
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 806.0

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 65,299 people
• By 2030: 61,255 · -6.2%
• By 2040: 52,930 · -18.9%
• By 2050: 45,051 · -31.0%
• By 2075: 28,720 · -56.0%
• By 2100: 15,852 · -75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 28% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 2% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -19.3pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+41.2 2016: R+36.6 2012: R+24.5 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.10%
• Current HPI: 223.1966
• Rent YoY: ▲ 2.23%
• Metro: Palatka, 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

-97.2% since first listed

10 events — show timeline

• 2026-06-04 Listed $5,000 HAOR as distributed by MLS GRID
• 2025-07-30 Listing Removed — realMLS
• 2025-06-23 Price Changed $194,900 realMLS
• 2025-05-30 Price Changed $179,900 realMLS
• 2025-04-07 Price Changed $199,000 realMLS
• 2025-03-11 Listed $209,900 realMLS
• 2024-03-05 Sold (Public Records) $179,900 Public Records
• 2024-02-29 Sold (MLS) $179,900 realMLS
• 2024-01-31 Contingent — realMLS
• 2023-11-09 Listed $179,900 realMLS

Property tax history

+18.1%/yr

Latest (2025): $3,384 · +30.8% YoY. Source: county tax records.