116 Lagoon Pass Dr · DeFuniak Springs, FL 32433

$324,850

4 bd · 3.0 ba · 2,025 sqft · SingleFamily · 76 Days on market

Built 2026 5,662 sqft lot Est $352k · 8% under $38/mo HOA · 2% of rent ↓ 5% 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).

• ARV discount +11.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.6/30.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome home to the Stackhouse by Valor Communities, a sanctuary designed for lasting memories. This stunning home by Valor Communities features a spacious open-concept main level. From the versatile loft, enter the expansive primary retreat, complete with an oversized closet. With four bedrooms and three full baths, there is plenty of room for everyone. A unique highlight is the three-car garage, featuring a pass-through design for ultimate convenience and backyard access. A covered back porch adds the perfect finishing touch. Visuals feature a similar home for inspiration. Pricing is the base starting point; final price varies based on selected features. NOW is the time to choose your int

Key facts

• Large closet
• Dual vanity
• Soaking tub

Tags

• COVERED BACK PATIO
• SECLUDED PRIMARY RETREAT
• LARGE CLOSET
• DUAL VANITY
• SEPARATE SHOWER
• SOAKING TUB

Property features AI

Finance

• HOA & community: Homeowners association (master association); Short-term rentals not allowed; Minimum rental period required; Subdivision: WALTON POINTE

Exterior

• Parking: Attached 2-car garage; 2 driveway spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story Craftsman-style home; Built in 2026; Resid Single Family zoning; Lot dimensions approximately 110 x 50
• Construction: Cement fiberboard/wood siding exterior; Built in 2026
• Exterior features: Front porch; Covenants on the lot; Sidewalks; Paved road access

Interior

• Kitchen: Kitchen on the first floor; Kitchen island; Dishwasher; Disposal; Microwave; Pantry
• Bedrooms: 4 bedrooms; Primary bedroom on the first floor with trey ceiling and walk-in closet
• Flooring: Carpet
• Bathrooms: 3 full bathrooms; Primary bathroom with double vanity, garden tub and separate shower
• Heating & cooling: Central heating; Central air; Ceiling fans; Electric heat control
• Interior features: Tray ceilings; Kitchen island; Recessed lighting; Pantry; Pull-down attic stairs; Built-in shelving; Washer/dryer hookup; Double-pane windows
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-674 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (30.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (37.3% below list).
• Recommended offer: $204k (37.3% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 4.8% in DeFuniak Springs — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Maude Saunders Elementary School (math 58% / reading 52%, grade C, #872 of 2,144 statewide, top 42%, 553 students, 87% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 76% FRL vs 48% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• At $2,037/mo this rent would consume 47% 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 $35k of equity ($2k loan paydown + $32k 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 ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($305k) is reasonable based on typical stale-listing flexibility.

Recommended offer $203,680 (37.3% 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. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.63% ✗
• Cap rate: 3.80%
• Cash-on-cash: -8.89%
• DSCR: 0.60
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $352,350
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
676 Hunters Ridge Rd	0.42mi	3/2.0 (-1)	1,722 (-15%)	3mo	$300,000	$174	44
76 Cora Rd	0.74mi	4/2.0	1,781 (-12%)	16mo	$275,000	$154	28

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

Projected returns pro-forma

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

5-year hold

• IRR: 18.0%
• Equity multiple: 2.47×
• Total profit: $134,055
• Equity at exit: $292,651

10-year hold

• IRR: 16.9%
• Equity multiple: 5.71×
• Total profit: $428,631
• Equity at exit: $631,112

Cash invested: $90,958 (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: 13.3×

Monthly cashflow live

• Estimated rent: $2,037 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,873/yr
• Insurance: −$135
• HOA: −$38
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-674

Break-even live

Break-even rent $2,890

Max offer price $227,337

Occupancy floor —

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: $81,212
• Closing costs: $9,746
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
594 Hunters Ridge Rd Defuniak Springs, FL	3.0	2.0	1654	$1,950	$1.18	13d	1	0.48mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 19 events

1. 2026-06-18
   days on market $324,850 Active 76 DOM
2. 2026-06-17
   days on market $324,850 Active 75 DOM
3. 2026-06-16
   days on market $324,850 Active 74 DOM
4. 2026-06-15
   days on market $324,850 Active 73 DOM
5. 2026-06-14
   days on market $324,850 Active 71 DOM
6. 2026-06-13
   days on market $324,850 Active 70 DOM
7. 2026-06-10
   days on market $324,850 Active 68 DOM
8. 2026-06-09
   days on market $324,850 Active 67 DOM
9. 2026-06-08
   days on market $324,850 Active 66 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    pricedays on market $324,850 Active 65 DOM
12. 2026-06-05
    days on market $309,850 Active 62 DOM
13. 2026-06-03
    days on market $309,850 Active 61 DOM
14. 2026-06-03
    days on market $309,850 Active 60 DOM
15. 2026-06-01
    days on market $309,850 Active 59 DOM
16. 2026-05-31
    days on market $309,850 Active 58 DOM
17. 2026-05-30
    days on market $309,850 Active 57 DOM
18. 2026-05-17
    price $309,850
19. 2026-04-03
    listed $324,850 Active

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

Taxation est. · year 1

• Rental income: $24,442
• − Mortgage interest: −$18,197
• − Property taxes: −$4,873
• − Insurance: −$1,624
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − HOA: −$456
• − Depreciation: −$9,450
• Taxable loss: −$14,069
• Est. tax savings @ 24.0%: +$3,377
• After-tax cash flow: $-4,710/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

• Census place: DeFuniak Springs, FL
• 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

-4.6% since first listed

2 events — show timeline

• 2026-05-17 Price Changed $309,850 ECAR
• 2026-04-03 Listed $324,850 ECAR