480 S Jefferson St Unit - · Monticello, FL 32344

$390,000

4 bd · 5.0 ba · 2,750 sqft · MultiFamily public records · 28 Days on market

Built 1920

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Located in the heart of Monticello, this 5-unit investment property offers a prime opportunity for investors looking to add value and generate income. Positioned just minutes from local businesses, shopping, dining, and convenient interstate access, the location provides strong appeal for tenants seeking both convenience and accessibility. Currently, 3 of the units are occupied, providing immediate rental income, while the remaining 2 units are vacant and present an excellent value-add opportunity. Both vacant units are 1-bedroom, 1-bath units that need updating and repairs to become rent-ready, allowing the next owner to renovate and increase overall cash flow potential. Total Bedroom Coun

Key facts

• Cash flow potential
• Desirable location
• Investment property

Tags

• INVESTMENT PROPERTY
• IMMEDIATE RENTAL INCOME
• CASH FLOW POTENTIAL
• GROWING DEMAND
• DESIRABLE LOCATION

Property features AI

Finance

• Other: Two units currently rented with listed rents ($1,045 and $875); two units listed as vacant
• Financial info: Four-unit multifamily property; Gross monthly income reported as $2,515; Owner pays management, repairs and taxes

Exterior

• Parking: Carport
• Home design: Single-story building
• Construction: Frame construction with vinyl siding
• Exterior features: Patio; Lot dimensions approximately 100 x 100 x 100 x 100

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Four 1-bedroom units (unit numbers 1–4)
• Flooring: Carpet
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Carpet flooring
• Laundry & utility: Washer/Dryer included

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/?-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $330/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $390k).
• Recommended offer: $384k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.8% in Monticello — 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 72/100 on livability (#356 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, amenities D-, commute F.
• Jefferson (rural): math 28% / reading 30% proficiency, ranked #71 of 73 in FL (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 65 active listings in the ZIP; 64 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Jefferson County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $109k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($384k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $120k; list at $390k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $384,150 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.37%
• Cash-on-cash: 18.15%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.7%
• Equity multiple: 1.38×
• Total profit: $41,960
• Equity at exit: $58,150

10-year hold

• IRR: 18.9%
• Equity multiple: 2.57×
• Total profit: $171,910
• Equity at exit: $33,720

Cash invested: $109,200 (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 32344

• Home prices YoY: -18.6%
• Active inventory: 65
• Price-to-rent: 30.6×

Monthly cashflow live

• Estimated rent: $5,312 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$338 /mo · $4,050/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,116
• Net cashflow: $1,651

Break-even live

Break-even rent $3,222

Max offer price $390,000

Occupancy floor 64%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	1	—	$5,310
Total (5 units)			$5,312

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $390,000 Active 28 DOM
2. 2026-06-17
   days on market $390,000 Active 27 DOM
3. 2026-06-16
   days on market $390,000 Active 26 DOM
4. 2026-06-15
   days on market $390,000 Active 25 DOM
5. 2026-06-14
   days on market $390,000 Active 23 DOM
6. 2026-06-13
   days on market $390,000 Active 22 DOM
7. 2026-06-10
   days on market $390,000 Active 20 DOM
8. 2026-06-09
   days on market $390,000 Active 19 DOM
9. 2026-06-08
   days on market $390,000 Active 18 DOM
10. 2026-06-07
    days on market $390,000 Active 17 DOM
11. 2026-06-03
    days on market $390,000 Active 13 DOM
12. 2026-06-02
    days on market $390,000 Active 12 DOM
13. 2026-06-01
    days on market $390,000 Active 11 DOM
14. 2026-05-31
    days on market $390,000 Active 10 DOM
15. 2026-05-30
    days on market $390,000 Active 9 DOM
16. 2026-05-21
    price $390,000
17. 2026-05-21
    listed $350,000 Active
18. 2024-09-14
    historical $950
19. 2024-09-11
    listed $950
20. 2024-09-06
    historical $950
21. 2024-08-27
    listed $950
22. 2018-09-21
    soldstatus $120,000
23. 1997-01-01
    soldstatus $40,000

ⓘ 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: $4,050 · $338/mo
• Projected year-2 tax: $4,050 · $338/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 4/10 Moderate 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,744
• − Mortgage interest: −$21,846
• − Property taxes: −$4,050
• − Insurance: −$1,950
• − Repairs & maintenance: −$5,100
• − Management: −$5,100
• − Depreciation: −$11,345
• Taxable income: $14,353
• Est. tax owed @ 24.0%: −$3,445
• After-tax cash flow: $16,370/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: Jefferson
• NCES district ID: 1200990
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 30% ▼ -3.00%
• Median HH income: $43,356
• Composite: 24.74/100
• National rank: #7605
• State rank: #71 of 73 in FL

Livability — Monticello

• Score: 72/100
• State rank: #356
• US rank: #6199

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, FL
• Population (ZIP): 12,879

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 12,681 people
• By 2030: 11,811 · -6.9%
• By 2040: 9,968 · -21.4%
• By 2050: 8,319 · -34.4%
• By 2075: 5,406 · -57.4%
• By 2100: 3,278 · -74.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 2% Lithuanian 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1%

Political lean MEDSL · Jefferson

• 2024 margin: R (+18.6) · D 40.3% · R 58.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 3.7pp · 2024: -18.6pp
• All cycles: 2024: R+18.6 2020: R+6.9 2016: R+5.1 2012: D+1.8 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.71%
• Current HPI: 182.5741
• 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

+875.0% since first listed

8 events — show timeline

• 2026-05-21 Price Changed $390,000 CATRS
• 2026-05-21 Listed $350,000 CATRS
• 2024-09-14 Rental Removed $950 APPFOLIO
• 2024-09-11 Listed for Rent $950 APPFOLIO
• 2024-09-06 Rental Removed $950 APPFOLIO
• 2024-08-27 Listed for Rent $950 APPFOLIO
• 2018-09-21 Sold (Public Records) $120,000 Public Records
• 1997-01-01 Sold (Public Records) $40,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $4,050 · +29.5% YoY. Source: county tax records.