7722 Clary Rd · Laurel Hill, FL 32567

$229,000

4 bd · 2.0 ba · 1,971 sqft · Manufactured public records · 147 Days on market

Built 1997 2.00 ac lot

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Why this score? — see what drove the C 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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +5.2/10.0
• 1% rule +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.5/10.0

Listing remarks MLS

Move-in ready and thoughtfully updated throughout, this inviting home offers comfort, space, and versatility on a beautiful 2-acre property. All major appliances were updated in 2023, and the home features chair rail and crown molding, carpet and vinyl flooring throughout, and a regularly maintained HVAC system paired with a durable metal roof for peace of mind. The living room features a welcoming fireplace, creating a warm and inviting space for gatherings, while the spacious master suite serves as a private retreat with its own brick fireplace and a well-appointed master bath complete with a double vanity, soaker tub, and separate shower. The large kitchen is the heart of the home, complete with a breakfast bar, walk-in pantry, and ample cabinetry, and is complemented by a separate laundry room and mudroom offering excellent storage and functionality. A dedicated home office makes remote work easy, and the workshop adds even more flexibility for hobbies or projects. Step outside to enjoy decks galore and an above-ground pool, perfect for entertaining or relaxing. This property offers the best of country living while remaining close to city conveniences, with Crestview just 20 minutes away. The home can also be sold fully furnished, making it truly turnkey. Call today to schedule your private showing.

Key facts

• Updated appliances
• Durable metal roof
• Brick fireplace

Tags

• 2 ACRE PROPERTY
• UPDATED APPLIANCES
• REGULARLY MAINTAINED HVAC
• DURABLE METAL ROOF
• WELCOMING FIREPLACE
• BRICK FIREPLACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/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 $221k (3.4% below list).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.5% in Laurel Hill — 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 62/100 on livability (#759 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D+, amenities F.
• Okaloosa (other): math 60% / reading 60% proficiency, ranked #12 of 73 in FL (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 110 active listings in the ZIP; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Okaloosa County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $229k implies a 435% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-12,293
• Equity at exit: $34,145

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $20,954
• Equity at exit: $19,800

Cash invested: $64,120 (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 32567

• Home prices YoY: -2.9%
• Active inventory: 110
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,211 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$59 /mo · $711/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $391

Break-even live

Break-even rent $1,716

Max offer price $229,000

Occupancy floor 77%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $229,000 Active 147 DOM
2. 2026-06-17
   days on market $229,000 Active 146 DOM
3. 2026-06-16
   days on market $229,000 Active 145 DOM
4. 2026-06-15
   days on market $229,000 Active 144 DOM
5. 2026-06-14
   days on market $229,000 Active 142 DOM
6. 2026-06-13
   days on market $229,000 Active 141 DOM
7. 2026-06-10
   days on market $229,000 Active 139 DOM
8. 2026-06-09
   days on market $229,000 Active 138 DOM
9. 2026-06-08
   days on market $229,000 Active 137 DOM
10. 2026-06-07
    days on market $229,000 Active 136 DOM
11. 2026-06-05
    days on market $229,000 Active 133 DOM
12. 2026-06-02
    days on market $229,000 Active 131 DOM
13. 2026-06-01
    days on market $229,000 Active 130 DOM
14. 2026-05-31
    days on market $229,000 Active 129 DOM
15. 2026-05-30
    pricedays on market $229,000 Active 128 DOM
16. 2026-05-17
    price $234,900 1325-char remark

    Show marketing remark (1325 chars)

    Move-in ready and thoughtfully updated throughout, this inviting home offers comfort, space, and versatility on a beautiful 2-acre property. All major appliances were updated in 2023, and the home features chair rail and crown molding, carpet and vinyl flooring throughout, and a regularly maintained HVAC system paired with a durable metal roof for peace of mind. The living room features a welcoming fireplace, creating a warm and inviting space for gatherings, while the spacious master suite serves as a private retreat with its own brick fireplace and a well-appointed master bath complete with a double vanity, soaker tub, and separate shower. The large kitchen is the heart of the home, complete with a breakfast bar, walk-in pantry, and ample cabinetry, and is complemented by a separate laundry room and mudroom offering excellent storage and functionality. A dedicated home office makes remote work easy, and the workshop adds even more flexibility for hobbies or projects. Step outside to enjoy decks galore and an above-ground pool, perfect for entertaining or relaxing. This property offers the best of country living while remaining close to city conveniences, with Crestview just 20 minutes away. The home can also be sold fully furnished, making it truly turnkey. Call today to schedule your private showing.

17. 2026-03-23
    price $239,900 1325-char remark

    Show marketing remark (1325 chars)

    Move-in ready and thoughtfully updated throughout, this inviting home offers comfort, space, and versatility on a beautiful 2-acre property. All major appliances were updated in 2023, and the home features chair rail and crown molding, carpet and vinyl flooring throughout, and a regularly maintained HVAC system paired with a durable metal roof for peace of mind. The living room features a welcoming fireplace, creating a warm and inviting space for gatherings, while the spacious master suite serves as a private retreat with its own brick fireplace and a well-appointed master bath complete with a double vanity, soaker tub, and separate shower. The large kitchen is the heart of the home, complete with a breakfast bar, walk-in pantry, and ample cabinetry, and is complemented by a separate laundry room and mudroom offering excellent storage and functionality. A dedicated home office makes remote work easy, and the workshop adds even more flexibility for hobbies or projects. Step outside to enjoy decks galore and an above-ground pool, perfect for entertaining or relaxing. This property offers the best of country living while remaining close to city conveniences, with Crestview just 20 minutes away. The home can also be sold fully furnished, making it truly turnkey. Call today to schedule your private showing.

18. 2026-01-22
    listed $249,900 Active 1325-char remark

    Show marketing remark (1325 chars)

    Move-in ready and thoughtfully updated throughout, this inviting home offers comfort, space, and versatility on a beautiful 2-acre property. All major appliances were updated in 2023, and the home features chair rail and crown molding, carpet and vinyl flooring throughout, and a regularly maintained HVAC system paired with a durable metal roof for peace of mind. The living room features a welcoming fireplace, creating a warm and inviting space for gatherings, while the spacious master suite serves as a private retreat with its own brick fireplace and a well-appointed master bath complete with a double vanity, soaker tub, and separate shower. The large kitchen is the heart of the home, complete with a breakfast bar, walk-in pantry, and ample cabinetry, and is complemented by a separate laundry room and mudroom offering excellent storage and functionality. A dedicated home office makes remote work easy, and the workshop adds even more flexibility for hobbies or projects. Step outside to enjoy decks galore and an above-ground pool, perfect for entertaining or relaxing. This property offers the best of country living while remaining close to city conveniences, with Crestview just 20 minutes away. The home can also be sold fully furnished, making it truly turnkey. Call today to schedule your private showing.

19. 2018-04-20
    soldstatus $42,800 457-char remark

    Show marketing remark (457 chars)

    REO. This mobile home is being sold AS IS and could be a great investment opportunity. Home sits on just over 3 acre lot so there's plenty of room to roam! Inside the home you find a large kitchen complete with a breakfast bar. Two separate living areas are located on each side of the kitchen. Enjoy country living while also being near city conveniences. Crestview is just 20 minutes away. Both Laurel Hill School and shopping are just 8 minutes away too!

20. 2018-04-20
    soldstatus $42,800 457-char remark

    Show marketing remark (457 chars)

    REO. This mobile home is being sold AS IS and could be a great investment opportunity. Home sits on just over 3 acre lot so there's plenty of room to roam! Inside the home you find a large kitchen complete with a breakfast bar. Two separate living areas are located on each side of the kitchen. Enjoy country living while also being near city conveniences. Crestview is just 20 minutes away. Both Laurel Hill School and shopping are just 8 minutes away too!

21. 2018-03-25
    listed $39,500 457-char remark

    Show marketing remark (457 chars)

    REO. This mobile home is being sold AS IS and could be a great investment opportunity. Home sits on just over 3 acre lot so there's plenty of room to roam! Inside the home you find a large kitchen complete with a breakfast bar. Two separate living areas are located on each side of the kitchen. Enjoy country living while also being near city conveniences. Crestview is just 20 minutes away. Both Laurel Hill School and shopping are just 8 minutes away too!

22. 2004-01-15
    soldstatus $35,000
23. 1995-11-27
    soldstatus $9,500
24. 1995-02-08
    soldstatus $23,500
25. 1995-01-19
    soldstatus $8,500
26. 1994-05-10
    soldstatus $8,500
27. 1993-04-08
    soldstatus $19,833

ⓘ 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: $711 · $59/mo
• Projected year-2 tax: $1,901 · $158/mo
• Expected delta: +$1,190/yr (+$99/mo · 167.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,534
• − Mortgage interest: −$12,828
• − Property taxes: −$711
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − Depreciation: −$6,662
• Taxable income: $944
• Est. tax owed @ 24.0%: −$226
• After-tax cash flow: $4,469/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: Okaloosa
• NCES district ID: 1201380
• Math proficiency: 60% ▼ -12.00%
• Reading proficiency: 60% ▼ -4.00%
• Median HH income: $55,601
• Composite: 51.62/100
• National rank: #1705
• State rank: #12 of 73 in FL

Livability — Laurel Hill

• Score: 62/100
• State rank: #759
• US rank: #16757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,820

Population outlook (Okaloosa County) Hauer SSP2

• Today (2025): 235,133 people
• By 2030: 253,483 · +7.8%
• By 2040: 289,537 · +23.1%
• By 2050: 322,954 · +37.3%
• By 2075: 399,624 · +70.0%
• By 2100: 425,311 · +80.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 9% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Iranian 5% Romanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Okaloosa

• 2024 margin: Solid R (+42.4) · D 28.2% · R 70.7% · Other 1.1%
• 2008→2024 swing: +2.5pp toward D · 2008: -44.9pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+39.1 2016: R+47.8 2012: R+49.4 2008: R+44.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.00%
• Current HPI: 236.47
• Rent YoY: —
• Metro: —
• 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

+1084.4% since first listed

12 events — show timeline

• 2026-05-17 Price Changed $234,900 ECAR
• 2026-03-23 Price Changed $239,900 ECAR
• 2026-01-22 Listed $249,900 ECAR
• 2018-04-20 Sold (MLS) $42,800 NAMLS
• 2018-04-20 Sold (MLS) $42,800 ECAR
• 2018-03-25 Listed $39,500 NAMLS
• 2004-01-15 Sold (Public Records) $35,000 Public Records
• 1995-11-27 Sold (Public Records) $9,500 Public Records
• 1995-02-08 Sold (Public Records) $23,500 Public Records
• 1995-01-19 Sold (Public Records) $8,500 Public Records
• 1994-05-10 Sold (Public Records) $8,500 Public Records
• 1993-04-08 Sold (Public Records) $19,833 Public Records

Property tax history

+22.4%/yr

Latest (2025): $711 · +4.4% YoY. Source: county tax records.