1203 Main St · Chattahoochee, FL 32324

$23,900

2 bd · 1.0 ba · 676 sqft · SingleFamily public records · 277 Days on market

Built 1953 0.61 ac lot $35/sqft · 47% below area Est $45k · 47% under ↓ 17% since listing

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Why this score? — see what drove the C 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 +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +4.6/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Single Family Residential home located 1.75 miles from rivers. 2 houses on this lot. 1 house is fire damaged. Property was purchased in a Tax Deed Sale and comes with a quitclaim deed. CASH ONLY Showings are restricted. Please Do Not Enter Property. Sold AS IS. Buyer is encouraged to do their due diligence.

Key facts

• 0.61 acre lot
• 2 parking spots
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($998 rent vs $24k).
• Recommended offer: $21k (12.0% below list) — sets the bar for market timing.
• Cap rate 36.1% vs local median 3.7% in Chattahoochee — 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 71/100 on livability (#401 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: employment D, schools F, amenities F.
• Gadsden (rural): math 31% / reading 31% proficiency, ranked #70 of 73 in FL (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 26 active listings in the ZIP; 107 units permitted in Gadsden County in 2024 (36 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.7%/yr); year-one equity from $165 of loan paydown is wiped out by about $174 of value loss. Plan a longer hold.
• Gadsden County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($21k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $21,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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.
8. 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.
9. 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: 4.18% ✓
• Cap rate: 36.07%
• Cash-on-cash: 106.35%
• DSCR: 5.73
• GRM: 2.0

CMA / ARV

• ARV (median comp): $45,053
• List price: $23,900
• Delta: -46.95%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1109 Lorraine Ave	0.56mi	2/1.0	672 (-1%)	9mo	$25,000	$37	65
601 Satsuma Rd	0.71mi	2/1.0	672 (-1%)	4mo	$65,000	$97	63

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

Projected returns pro-forma

-0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.42×
• Total profit: $36,301
• Equity at exit: $6,082

10-year hold

• IRR: —
• Equity multiple: 13.35×
• Total profit: $82,639
• Equity at exit: $6,656

Cash invested: $6,692 (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 32324

• Home prices YoY: -0.6%
• Active inventory: 26
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $998 medium
• Mortgage (P&I): −$125
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $593

Break-even live

Break-even rent $248

Max offer price $23,900

Occupancy floor 36%

Sensitivity live

Price	-10% $607	-5% $600	+0% $593	+5% $586	+10% $580
Rent	-10% $514	-5% $554	+0% $593	+5% $633	+10% $672
Rate	-1.0pp $605	-0.5pp $599	base $593	+0.5pp $587	+1.0pp $581

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: $5,975
• Closing costs: $717
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $23,900 Active 277 DOM
2. 2026-06-18
   days on market $23,900 Active 274 DOM
3. 2026-06-17
   days on market $23,900 Active 273 DOM
4. 2026-06-16
   days on market $23,900 Active 272 DOM
5. 2026-06-15
   days on market $23,900 Active 271 DOM
6. 2026-06-14
   days on market $23,900 Active 269 DOM
7. 2026-06-13
   days on market $23,900 Active 268 DOM
8. 2026-06-10
   days on market $23,900 Active 266 DOM
9. 2026-06-09
   days on market $23,900 Active 265 DOM
10. 2026-06-08
    days on market $23,900 Active 264 DOM
11. 2026-06-07
    days on market $23,900 Active 263 DOM
12. 2026-06-05
    days on market $23,900 Active 260 DOM
13. 2026-06-03
    days on market $23,900 Active 259 DOM
14. 2026-06-02
    days on market $23,900 Active 258 DOM
15. 2026-06-01
    days on market $23,900 Active 257 DOM
16. 2026-05-31
    days on market $23,900 Active 256 DOM
17. 2026-05-30
    days on market $23,900 Active 255 DOM
18. 2025-12-30
    price $23,900 308-char remark

    Show marketing remark (308 chars)

    Single Family Residential home located 1.75 miles from rivers. 2 houses on this lot. 1 house is fire damaged. Property was purchased in a Tax Deed Sale and comes with a quitclaim deed. CASH ONLY Showings are restricted. Please Do Not Enter Property. Sold AS IS. Buyer is encouraged to do their due diligence.

19. 2025-09-17
    listed $28,900 Active 308-char remark

    Show marketing remark (308 chars)

    Single Family Residential home located 1.75 miles from rivers. 2 houses on this lot. 1 house is fire damaged. Property was purchased in a Tax Deed Sale and comes with a quitclaim deed. CASH ONLY Showings are restricted. Please Do Not Enter Property. Sold AS IS. Buyer is encouraged to do their due diligence.

ⓘ 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: $724 · $60/mo
• Projected year-2 tax: $724 · $60/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,980
• − Mortgage interest: −$1,339
• − Property taxes: −$724
• − Insurance: −$120
• − Repairs & maintenance: −$958
• − Management: −$958
• − Depreciation: −$695
• Taxable income: $7,186
• Est. tax owed @ 24.0%: −$1,725
• After-tax cash flow: $5,392/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: Gadsden
• NCES district ID: 1200600
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $36,470
• Composite: 25.75/100
• National rank: #7373
• State rank: #70 of 73 in FL

Livability — Chattahoochee

• Score: 71/100
• State rank: #401
• US rank: #7120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chattahoochee, FL
• Population (ZIP): 4,719

Population outlook (Gadsden County) Hauer SSP2

• Today (2025): 42,956 people
• By 2030: 40,878 · -4.8%
• By 2040: 36,218 · -15.7%
• By 2050: 31,502 · -26.7%
• By 2075: 21,828 · -49.2%
• By 2100: 14,480 · -66.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 54% White 36% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Serbian 1% Hispanic 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 0%

Political lean MEDSL · Gadsden

• 2024 margin: Solid D (+30.7) · D 65.0% · R 34.3%
• 2008→2024 swing: -8.3pp toward R · 2008: 39.0pp · 2024: 30.7pp
• All cycles: 2024: D+30.7 2020: D+36.6 2016: D+37.5 2012: D+40.6 2008: D+39.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.73%
• Current HPI: 128.6244
• 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

-17.3% since first listed

2 events — show timeline

• 2025-12-30 Price Changed $23,900 PARMLS
• 2025-09-17 Listed $28,900 PARMLS

Property tax history

+2.6%/yr

Latest (2025): $724 · +5.4% YoY. Source: county tax records.