362 Palmetto Ave · Freeport, FL 32439

$300,000

3 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 51 Days on market

Built 2007 0.25 ac lot Est $276k · 9% over

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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 +13.6/30.0
• Schools +5.2/10.0
• DSCR +4.1/10.0
• ARV discount +3.6/15.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Seller offering $5,000 credit toward closing costs or rate buy down! No HOA in a convenient Freeport, Florida location south of Route 20 and just minutes from 30A. This 3-bedroom, 2-bath home offers 1,232 square feet of well-designed living space on a spacious 0.26-acre lot. Features include an open-concept living area with breakfast bar, split-bedroom floor plan, private en-suite primary bedroom, full laundry room, crown molding, and an enclosed back patio. Ideally located about 15 minutes from the beaches of 30A, 5 minutes to Grady Brown Park and the 331 bridge, and 1 mile to Black Creek Marina, with easy access to boating, shopping, dining, and everyday conveniences.

Key facts

• 0.25 acre lot
• 4 parking spots
• Built 2007

Property features AI

Finance

• HOA & community: Subdivision: MAGNOLIA BAYE

Exterior

• Parking: 4 driveway spaces
• Utilities: Electric service; Public water; Septic tank; Central electric heating control; Electric water heater
• Home design: Florida cottage style; 1 story; Built in 2007
• Construction: Vinyl siding; Composite shingle roof; Slab foundation
• Exterior features: Partially fenced lot; Yard building; Rain gutters; Porch; Dead-end street; Within 1/2 mile to water; Survey available; County road frontage (paved)

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms; Master bedroom is on the first floor; Master bedroom is carpeted; Master bedroom has a walk-in closet
• Flooring: Tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Breakfast bar; Crown molding; Split bedroom floor plan; Washer/dryer hookup; Unfurnished
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $18 ($210/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (22.5% below list).
• Recommended offer: $232k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.0% in Freeport — 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 68/100 on livability (#520 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, amenities F, commute F.
• Walton (rural): math 62% / reading 61% proficiency, ranked #10 of 73 in FL (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Freeport Elementary School (math 50% / reading 57%, grade C, #949 of 2,144 statewide, top 45%, 1,123 students, 55% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Freeport Senior High School (math 47% / reading 62%, grade C-, #138 of 667 statewide, top 21%, 557 students, 43% FRL).
• Market conditions: Rents rising (+1.4%/yr); 1020 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 34% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,361 (22.5% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.77% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $275,968
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
392 Palmetto Ave	0.04mi	3/2.0	1,232 (0%)	16mo	$316,000	$256	85
165 Palmetto Ave	0.16mi	3/2.0	1,296 (+5%)	4mo	$290,000	$224	81
75 Palmetto Ave	0.19mi	3/2.0	1,316 (+7%)	4mo	$255,000	$194	77
356 Stillwater Rd	0.19mi	3/3.0	1,372 (+11%)	14mo	$267,000	$195	57

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

Projected returns pro-forma

-3.0% appreciation · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.39×
• Total profit: $-51,301
• Equity at exit: $44,731

10-year hold

• IRR: -12.6%
• Equity multiple: 0.31×
• Total profit: $-58,360
• Equity at exit: $25,939

Cash invested: $84,000 (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 32439

• Home prices YoY: -4.2%
• Rents YoY: 1.4%
• Active inventory: 1020
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,324 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$120 /mo · $1,439/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $18

Break-even live

Break-even rent $2,301

Max offer price $300,000

Occupancy floor 94%

Sensitivity live

Price	-10% $187	-5% $102	+0% $18	+5% $-67	+10% $-152
Rent	-10% $-166	-5% $-74	+0% $18	+5% $109	+10% $201
Rate	-1.0pp $169	-0.5pp $94	base $18	+0.5pp $-60	+1.0pp $-139

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Formby St Freeport, FL	3.0	2.0	924	$1,850	$2.00	23d	1	0.49mi
1952 County Highway 3280 Unit 3280 Freeport, FL	3.0	2.0	1269	$1,900	$1.50	23d	1	1.04mi

Listing history 41 events

1. 2026-06-21
   days on market $300,000 Active 51 DOM
2. 2026-06-18
   days on market $300,000 Active 48 DOM
3. 2026-06-17
   days on market $300,000 Active 47 DOM
4. 2026-06-16
   days on market $300,000 Active 46 DOM
5. 2026-06-15
   days on market $300,000 Active 45 DOM
6. 2026-06-14
   days on market $300,000 Active 43 DOM
7. 2026-06-13
   days on market $300,000 Active 42 DOM
8. 2026-06-10
   days on market $300,000 Active 40 DOM
9. 2026-06-09
   days on market $300,000 Active 39 DOM
10. 2026-06-08
    days on market $300,000 Active 38 DOM
11. 2026-06-07
    days on market $300,000 Active 37 DOM
12. 2026-06-05
    remarks 678-char remark
13. 2026-06-05
    pricedays on market $300,000 Active 34 DOM
14. 2026-06-03
    days on market $299,000 Active 33 DOM
15. 2026-06-03
    days on market $299,000 Active 32 DOM
16. 2026-06-01
    days on market $299,000 Active 31 DOM
17. 2026-05-31
    days on market $299,000 Active 30 DOM
18. 2026-05-30
    days on market $299,000 Active 29 DOM
19. 2026-05-01
    listed $299,000 Active
20. 2025-05-09
    price $309,000
21. 2025-03-28
    listed $310,000 Active
22. 2024-03-09
    price $315,000
23. 2024-02-13
    price $325,000
24. 2023-11-29
    listed $335,000 Active
25. 2023-10-11
    price $295,000
26. 2023-09-03
    listed $375,000 Active
27. 2022-06-03
    soldstatus $265,000
28. 2022-06-02
    soldstatus $265,000 Sold
29. 2022-06-02
    soldstatus $265,000 Sold
30. 2022-05-28
    historical
31. 2022-05-28
    listed $265,000
32. 2021-12-14
    historical
33. 2016-04-01
    historical
34. 2016-02-12
    listed $150,000
35. 2016-02-12
    listed $150,000
36. 2014-04-07
    historical
37. 2013-12-18
    listed $125,000
38. 2013-12-18
    listed $125,000
39. 2013-12-18
    listed $125,000
40. 2004-12-07
    soldstatus $20,000
41. 2001-09-12
    soldstatus $9,500

ⓘ 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: $1,439 · $120/mo
• Projected year-2 tax: $2,490 · $208/mo
• Expected delta: +$1,051/yr (+$88/mo · 73.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,883
• − Mortgage interest: −$16,805
• − Property taxes: −$1,439
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,231
• − Management: −$2,231
• − Depreciation: −$8,727
• Taxable loss: −$5,049
• Est. tax savings @ 24.0%: +$1,212
• After-tax cash flow: $1,422/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: Walton
• NCES district ID: 1201980
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $46,794
• Composite: 52.03/100
• National rank: #1634
• State rank: #10 of 73 in FL

Livability — Freeport

• Score: 68/100
• State rank: #520
• US rank: #9579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• City population: 15,328
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 15,328
• Household income: $83,227
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 172.0

Population outlook (Walton County) Hauer SSP2

• Today (2025): 80,014 people
• By 2030: 88,120 · +10.1%
• By 2040: 103,537 · +29.4%
• By 2050: 117,034 · +46.3%
• By 2075: 143,901 · +79.8%
• By 2100: 155,138 · +93.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 8% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 1%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Walton

• 2024 margin: Solid R (+57.8) · D 20.7% · R 78.6%
• 2008→2024 swing: -12.0pp toward R · 2008: -45.8pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+51.7 2016: R+56.1 2012: R+52.0 2008: R+45.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.18%
• Current HPI: 350.4692
• Rent YoY: ▲ 1.40%
• Metro: Crestview-Fort Walton Beach-Destin, 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

+3047.4% since first listed

23 events — show timeline

• 2026-05-01 Listed $299,000 ECAR
• 2025-05-09 Price Changed $309,000 ECAR
• 2025-03-28 Listed $310,000 ECAR
• 2024-03-09 Price Changed $315,000 ECAR
• 2024-02-13 Price Changed $325,000 ECAR
• 2023-11-29 Listed $335,000 ECAR
• 2023-10-11 Price Changed $295,000 ECAR
• 2023-09-03 Listed $375,000 ECAR
• 2022-06-03 Sold (Public Records) $265,000 Public Records
• 2022-06-02 Sold (MLS) $265,000 NAMLS
• 2022-06-02 Sold (MLS) $265,000 ECAR
• 2022-05-28 Listed $265,000 NAMLS
• 2022-05-28 Listing Removed — NAMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2016-04-01 Listing Removed — NAMLS
• 2016-02-12 Listed $150,000 ECAR
• 2016-02-12 Listed $150,000 NAMLS
• 2014-04-07 Listing Removed — NAMLS
• 2013-12-18 Listed $125,000 NAMLS
• 2013-12-18 Listed $125,000 ECAR
• 2013-12-18 Listed $125,000 CPARMLS
• 2004-12-07 Sold (Public Records) $20,000 Public Records
• 2001-09-12 Sold (Public Records) $9,500 Public Records

Property tax history

+9.6%/yr

Latest (2025): $1,439 · -2.1% YoY. Source: county tax records.