$149,500
5830 LADY BUG Lane, Melrose, FL 32666, Melrose, FL 32666
Tanglewood
- Price
- $149,500
- Beds / Baths
- 3 / 2
- Living area
- 1,500 sqft
- Year built
- 1984
- Type
- Residential
- Lot
- 5 ac
- Garage
- 0
- HOA
- None
- CDD
- No
- Flood zone
- Unknown
- County
- Clay
- Days on market
- 92
$100/sqft asking, vs a $187/sqft median across 81 closed sales in 32666 over the last 12 months — 47% below the area's closed prices. This 3-bed, 2-bath on 5 acres needs significant repairs and updates, explaining the 46.6% discount to area median pricing.
Country living with endless potential! Situated on 5 beautiful acres and conveniently located near Keystone Heights and Gainesville, this 3-bedroom, 2-bath home offers a rare opportunity to create your own private retreat. The home is in need of significant repairs and updates, making it ideal for investors, renovators, or buyers looking to customize a property to their own needs. Bring your vision and transform this fixer-upper into the country homestead you've always wanted. With plenty of room for gardens, animals, workshops, recreational vehicles, and outdoor activities, the possibilities are endless. Enjoy the privacy and open space of rural living while still being within easy reach of shopping, dining, schools, and amenities. Whether you're looking for a renovation project, investment opportunity, or future dream home, this property offers incredible potential and plenty of room to grow. Sold AS IS . Cash or renovation financing is most likely required.
What to check on this one
- Verify actual flood zone designation—unknown status requires FEMA map check and elevation certificate if in AE/VE
- Get roof age and condition assessment; 42-year-old home may exceed insurer limits without mitigation
- Order 4-point inspection (roof, HVAC, plumbing, electrical) and wind-mitigation inspection—critical for insurance approval
- Confirm septic system functionality and well water quality; request service records and recent pumping history
- Identify plumbing material era; polybutylene or cast-iron lines common in 1984—may need replacement
- Clarify scope and cost of 'significant repairs'; obtain pre-purchase contractor estimates for renovation financing
Flagged from the listing itself — not an inspection, and no substitute for one. Bring these to the showing.
What this home really costs per month
Loan $119,600 at 6.75% · 30 yr
Not a loan quote. Rate, insurance, and tax are stated assumptions — a lender and an insurance agent give real numbers. Homestead exemption lowers taxes after you file.
Listing courtesy of COLDWELL BANKER BEN BATES INC. Data via realMLS (Northeast Florida MLS), updated Aug 4, 2026, 7:33 PM.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.