840 NW Turner Ave · Lake City, FL 32055

$205,000

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 4 Days on market

Built 1974 1.00 ac lot ↓ 10% since listing

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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 +10.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks

Beautifully refreshed brick home on 1 full acre just off US Hwy 90. Minutes from medical facilities, gyms, shopping, private schools, and more. Originally a 3-br, 1-bath home, now redesigned into a spacious 2-bedroom, 1-bath layout with larger rooms and improved flow, including handicap accessible modifications. Features a metal roof (2021), new well (2022), luxury vinyl plank flooring throughout, updated kitchen appliances, and new lighting and fans. The kitchen connects easily to the dining and living areas. Fully fenced acre with wood privacy and chain-link fencing. Includes a chicken coop, 2 sheds, and fruit trees. Move-in ready and clean.

Key facts

• Metal roof
• New well
• Brick home

Tags

• BRICK HOME
• FULL ACRE
• METAL ROOF
• NEW WELL
• LUXURY VINYL PLANK FLOORING
• UPDATED KITCHEN APPLIANCES

Property features AI

Exterior

• Parking: 3-car garage; On-street parking available
• Utilities: Private well water; Cable available
• Home design: Single-story residential property; Zoned RSF
• Construction: Brick construction; Metal roof; Slab foundation; Built as a residential property
• Exterior features: Covered patio; Patio; Chain link and wood fencing; Shed(s); Workshop

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Ceiling fans; Central air
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (27.8% below list).
• Recommended offer: $148k (27.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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: 145 active listings in the ZIP; 178 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k 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.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $40k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,975 (27.8% 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 1974 — 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 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?
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: 0.72% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.83×
• Total profit: $104,846
• Equity at exit: $184,680

10-year hold

• IRR: 20.3%
• Equity multiple: 6.47×
• Total profit: $313,923
• Equity at exit: $398,270

Cash invested: $57,400 (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 32055

• Home prices YoY: 24.1%
• Active inventory: 145
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$114 /mo · $1,372/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-106

Break-even live

Break-even rent $1,614

Max offer price $186,311

Occupancy floor —

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $205,000 Active 4 DOM
2. 2026-06-18
   days on market $205,000 Active 3 DOM
3. 2026-06-17
   days on market $205,000 Active 2 DOM
4. 2026-06-16
   days on marketlisting id $205,000 Active 1 DOM
5. 2026-06-12
   pricedays on market $205,000 Active 181 DOM
6. 2026-06-09
   days on market $210,000 Active 178 DOM
7. 2026-06-08
   days on market $210,000 Active 177 DOM
8. 2026-06-07
   days on market $210,000 Active 176 DOM
9. 2026-06-05
   days on market $210,000 Active 173 DOM
10. 2026-06-03
    days on market $210,000 Active 172 DOM
11. 2026-06-02
    days on market $210,000 Active 171 DOM
12. 2026-06-01
    days on market $210,000 Active 170 DOM
13. 2026-05-31
    days on market $210,000 Active 169 DOM
14. 2026-05-30
    days on market $210,000 Active 168 DOM
15. 2026-05-08
    price $220,000
16. 2026-04-20
    price $200,000
17. 2026-04-09
    status Active
18. 2026-03-31
    price $210,000
19. 2026-02-23
    price $219,000
20. 2026-02-09
    price $222,000
21. 2026-01-13
    price $225,000
22. 2025-12-21
    price $229,000
23. 2025-12-16
    price $239,000
24. 2025-12-13
    listed $245,000 Active

ⓘ 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: $1,372 · $114/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$329/yr (+$27/mo · 24.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 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: $17,757
• − Mortgage interest: −$11,483
• − Property taxes: −$1,372
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$5,964
• Taxable loss: −$4,928
• Est. tax savings @ 24.0%: +$1,183
• After-tax cash flow: $-87/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): 17,559
• Household income: $61,111
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 391.0

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: Majority White (61%)
• Race & ethnicity: White 61% Black 29% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Iranian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 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: ▲ 67.79%
• Current HPI: 348.8923
• 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

-10.2% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $220,000 NFMLS
• 2026-04-20 Price Changed $200,000 NFMLS
• 2026-04-09 Relisted — NFMLS
• 2026-03-31 Price Changed $210,000 NFMLS
• 2026-02-23 Price Changed $219,000 NFMLS
• 2026-02-09 Price Changed $222,000 NFMLS
• 2026-01-13 Price Changed $225,000 NFMLS
• 2025-12-21 Price Changed $229,000 NFMLS
• 2025-12-16 Price Changed $239,000 NFMLS
• 2025-12-13 Listed $245,000 NFMLS

Property tax history

+6.7%/yr

Latest (2025): $1,372 · -0.3% YoY. Source: county tax records.