493 Marigold Ave · DeFuniak Springs, FL 32433

$184,900

4 bd · 2.0 ba · 1,512 sqft · Land public records · 195 Days on market

Built 2025 7,840 sqft lot ↓ 12% since listing

---

Why this score? — see what drove the B- 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 +22.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Brand New 2025. This home has a GORGEOUS Kitchen, Stainless Steel Range Hood, Refrigerator and Dishwasher, Island with Breakfast Bar. Huge Laundry Room and Pantry, Walk in Shower, Walk in Closets, Accents Walls. Fantastic split floor plan with Master Bedroom on one side, and 3 additional bedrooms on the other end of the home. All of the following included for FREE: Free LVP upgrade- No Carpet anywhere, Free Refrigerator and $1 Move in Options available for most VA buyers.

Key facts

• Split floor plan
• Huge laundry room
• Walk in closets

Tags

• STAINLESS STEEL RANGE HOOD
• ISLAND WITH BREAKFAST BAR
• HUGE LAUNDRY ROOM
• WALK IN SHOWER
• WALK IN CLOSETS
• SPLIT FLOOR PLAN

Property features AI

Finance

• HOA & community: Subdivision: Oakwood Hills Unit 1

Exterior

• Parking: 2 driveway spaces
• Utilities: Electric service; Public water; Septic tank; Electric water heater
• Home design: Manufactured home; Single-story
• Construction: Composite shingle roof; Built in 2025
• Exterior features: Cleared lot; County road frontage (70 x 110 lot dimensions); Access via county road and dirt/clay road

Interior

• Kitchen: Range hood; Refrigerator
• Bedrooms: 4 bedrooms; Primary bedroom with double vanity, shower (no tub), and walk-in closet
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air
• Interior features: Breakfast bar; Kitchen island; Recessed lighting; Newly painted; Pantry; Shelving; Paneled walls; Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $185k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.8% in DeFuniak Springs — 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 64/100 on livability (#694 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, 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: Mossy Head School (math 72% / reading 57%, grade B, #525 of 2,144 statewide, top 26%, 439 students, 86% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 75% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• At $1,997/mo this rent would consume 46% of the median local household income ($52k/yr) (locally 356% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $162,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 7.7

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: 29.3%
• Equity multiple: 3.31×
• Total profit: $119,839
• Equity at exit: $166,573

10-year hold

• IRR: 25.5%
• Equity multiple: 7.53×
• Total profit: $337,941
• Equity at exit: $359,220

Cash invested: $51,772 (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: 422
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,997 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $300

Break-even live

Break-even rent $1,617

Max offer price $184,900

Occupancy floor 80%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Tiger Lily Ln Defuniak Springs, FL	3.0	2.0	1114	$1,795	$1.61	13d	1	0.43mi
150 Hibiscus Ave Defuniak Springs, FL	3.0	2.0	1256	$1,950	$1.55	21d	1	0.57mi

Listing history 9 events

1. 2026-06-03
   status $184,900 Pending 195 DOM
2. 2026-06-03
   days on market $184,900 Active 195 DOM
3. 2026-06-01
   days on market $184,900 Active 194 DOM
4. 2026-05-31
   days on market $184,900 Active 193 DOM
5. 2026-05-30
   days on market $184,900 Active 192 DOM
6. 2026-05-15
   price $184,900
7. 2026-02-16
   price $189,900
8. 2026-01-14
   price $199,900
9. 2025-11-19
   listed $209,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $23,967
• − Mortgage interest: −$10,357
• − Property taxes: −$2,774
• − Insurance: −$924
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$5,379
• Taxable income: $698
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $3,433/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 — DeFuniak Springs

• Score: 64/100
• State rank: #694
• US rank: #14475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• City population: 19,746
• 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

-11.9% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $184,900 ECAR
• 2026-02-16 Price Changed $189,900 ECAR
• 2026-01-14 Price Changed $199,900 ECAR
• 2025-11-19 Listed $209,900 ECAR