6455 Co Hwy 0605 · Paxton, FL 32433

$338,000

3 bd · 2.0 ba · 2,418 sqft · SingleFamily public records · 25 Days on market

Built 1991 1.19 ac lot ↓ 3% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.5/30.0
• Schools +5.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Country Home on 1.19+/- acres. Spacious, Five bedrooms, 2 baths and a den/office. Primary bedroom with oversized bathroom, with walk thru to the hot tub. Separate 14x24 Office with a half bath. 2 A/C units (1 unit 22 SER) and 3 ton generator K22 that runs off propane tank. Metal roof with lifetime warranty - all screws were changed out in 2023. 2 separate breakers in house Outside features: pole barn 32x60 with heated/cooled office toilet & overhead storage; small shed; and 60x25 shed, barn for truck and boat shed. All power is unground. Deep well. Drain fill 1 yr old and septic pumped 2023. Don't miss this one!

Key facts

• Split bedroom design
• Over an acre
• 1.19 acre lot

Tags

• OVER AN ACRE
• COLLECTION OF OUTBUILDINGS
• 5 BAYS WORTH OF CARPORTS
• LARGE OPERATIONAL CHICKEN COOP
• DETACHED OFFICE SPACE
• SPLIT BEDROOM DESIGN

Property features AI

Finance

• HOA & community: No recorded subdivision

Exterior

• Parking: 5 covered parking spaces; Detached carport; 1 carport space
• Utilities: Electric service; Propane gas; Private well water; Septic tank sewage; Underground utilities; Electric water heaters (two or more)
• Home design: Ranch-style single-story home; Built in 1991; Zoned for single-family residential; Lot accessed by a paved county road; lot dimensions approximately 260 x 215
• Construction: Metal roof
• Exterior features: Yard building; Workshop; Covered deck; Open patio

Interior

• Kitchen: Dishwasher; Microwave; Range hood; Refrigerator; Electric water heater
• Bedrooms: 5 bedrooms (all on the first floor); Master bedroom with walk-in closet and separate shower in master bathroom
• Flooring: Tile; Carpet
• Bathrooms: 3 bathrooms total (2 full, 1 half)
• Heating & cooling: Central air conditioning; Multiple high-efficiency central AC units (listed as 2 or more)
• Interior features: Breakfast bar; Fireplace; Double pane windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $338k.

Deal economics

• At list price, monthly cash flow is $-719 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (37.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (49.1% below list).
• Recommended offer: $172k (49.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#861 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities 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); South Walton High School (math 61% / reading 73%, grade B, #69 of 667 statewide, top 11%, 1,235 students, 20% FRL) — zoned schools average 33% FRL vs 48% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 423 active listings in the ZIP; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 40% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($333k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,175 (49.1% below list)

Questions for the listing agent

1. 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?
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: 0.51% ✗
• Cap rate: 3.74%
• Cash-on-cash: -9.11%
• DSCR: 0.59
• GRM: 16.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.46×
• Total profit: $138,177
• Equity at exit: $304,497

10-year hold

• IRR: 16.7%
• Equity multiple: 5.68×
• Total profit: $442,643
• Equity at exit: $656,660

Cash invested: $94,640 (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 32433

• Home prices YoY: 4.2%
• Active inventory: 423
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $1,722 medium
• Mortgage (P&I): −$1,773
• Tax from tax record: −$166 /mo · $1,987/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-719

Break-even live

Break-even rent $2,632

Max offer price $211,037

Occupancy floor —

Sensitivity live

Price	-10% $-527	-5% $-623	+0% $-719	+5% $-814	+10% $-910
Rent	-10% $-855	-5% $-787	+0% $-719	+5% $-651	+10% $-583
Rate	-1.0pp $-548	-0.5pp $-633	base $-719	+0.5pp $-806	+1.0pp $-895

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: $84,500
• Closing costs: $10,140
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-01
   status $338,000 Pending 25 DOM
2. 2026-05-31
   days on market $338,000 Active 25 DOM
3. 2026-05-30
   days on market $338,000 Active 24 DOM
4. 2026-05-06
   listed $338,000 Active
5. 2025-10-21
   price $338,000
6. 2025-10-13
   price $342,000
7. 2025-09-15
   price $347,000
8. 2025-08-25
   price $352,000
9. 2025-08-04
   price $357,000
10. 2025-07-22
    price $361,000
11. 2025-07-01
    listed $371,000 Active
12. 2024-12-18
    soldstatus $350,000
13. 2024-12-17
    soldstatus $350,000 Sold 624-char remark

    Show marketing remark (624 chars)

    Country Home on 1.19+/- acres. Spacious, Five bedrooms, 2 baths and a den/office. Primary bedroom with oversized bathroom, with walk thru to the hot tub. Separate 14x24 Office with a half bath. 2 A/C units (1 unit 22 SER) and 3 ton generator K22 that runs off propane tank. Metal roof with lifetime warranty - all screws were changed out in 2023. 2 separate breakers in house Outside features: pole barn 32x60 with heated/cooled office toilet & overhead storage; small shed; and 60x25 shed, barn for truck and boat shed. All power is unground. Deep well. Drain fill 1 yr old and septic pumped 2023. Don't miss this one!

14. 2024-11-12
    status Pending 624-char remark

    Show marketing remark (624 chars)

    Country Home on 1.19+/- acres. Spacious, Five bedrooms, 2 baths and a den/office. Primary bedroom with oversized bathroom, with walk thru to the hot tub. Separate 14x24 Office with a half bath. 2 A/C units (1 unit 22 SER) and 3 ton generator K22 that runs off propane tank. Metal roof with lifetime warranty - all screws were changed out in 2023. 2 separate breakers in house Outside features: pole barn 32x60 with heated/cooled office toilet & overhead storage; small shed; and 60x25 shed, barn for truck and boat shed. All power is unground. Deep well. Drain fill 1 yr old and septic pumped 2023. Don't miss this one!

15. 2024-10-17
    listed $349,000 Active 624-char remark

    Show marketing remark (624 chars)

    Country Home on 1.19+/- acres. Spacious, Five bedrooms, 2 baths and a den/office. Primary bedroom with oversized bathroom, with walk thru to the hot tub. Separate 14x24 Office with a half bath. 2 A/C units (1 unit 22 SER) and 3 ton generator K22 that runs off propane tank. Metal roof with lifetime warranty - all screws were changed out in 2023. 2 separate breakers in house Outside features: pole barn 32x60 with heated/cooled office toilet & overhead storage; small shed; and 60x25 shed, barn for truck and boat shed. All power is unground. Deep well. Drain fill 1 yr old and septic pumped 2023. Don't miss this one!

ⓘ 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: $1,987 · $166/mo
• Projected year-2 tax: $2,805 · $234/mo
• Expected delta: +$819/yr (+$68/mo · 41.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 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: $20,661
• − Mortgage interest: −$18,933
• − Property taxes: −$1,987
• − Insurance: −$1,690
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$9,833
• Taxable loss: −$15,087
• Est. tax savings @ 24.0%: +$3,621
• After-tax cash flow: $-5,004/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 — Paxton

• Score: 57/100
• State rank: #861
• US rank: #22199

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 19,746
• Household income: $52,199
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 356.0

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 (75%)
• Race & ethnicity: White 75% Black 10% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 14.77%
• Current HPI: 367.046
• Rent YoY: —
• 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

-3.2% since first listed

12 events — show timeline

• 2026-05-06 Listed $338,000 ECAR
• 2025-10-21 Price Changed $338,000 ECAR
• 2025-10-13 Price Changed $342,000 ECAR
• 2025-09-15 Price Changed $347,000 ECAR
• 2025-08-25 Price Changed $352,000 ECAR
• 2025-08-04 Price Changed $357,000 ECAR
• 2025-07-22 Price Changed $361,000 ECAR
• 2025-07-01 Listed $371,000 ECAR
• 2024-12-18 Sold (Public Records) $350,000 Public Records
• 2024-12-17 Sold (MLS) $350,000 ECAR
• 2024-11-12 Pending — ECAR
• 2024-10-17 Listed $349,000 ECAR

Property tax history

+10.0%/yr

Latest (2025): $1,987 · +148.0% YoY. Source: county tax records.