16640 Spring St

White Springs, FL 32096

$150,000C-

3 bd · 1.0 ba · 1,535 sqft · Built 1958 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,192/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $-69/mo
• Annual: $-832/yr
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• 1% rule: 0.79%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-69 ($-832/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (20.5% below list).
• It's been on market 26 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (20.5% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.3% local appreciation)).
• Location reads 62/100 on livability (#754 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Hamilton (rural): math 34% / reading 29% proficiency, ranked #68 of 73 in FL (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hamilton County High School (math 27% / reading 27%, grade F, #478 of 667 statewide, top 73%, 859 students, 76% FRL) — zoned schools at 76% FRL track the district average.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 26 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).
• Hamilton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $80k; list at $150k implies a 87% gain — meaningful room to come down on a strong offer.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.

Questions for listing agent

• 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?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.