509 S Weeks St · Bonifay, FL 32425

$75,000

2 bd · 1.0 ba · 925 sqft · SingleFamily public records · 64 Days on market

Built 1963 8,712 sqft lot Est $116k · 35% under

---

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 +17.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Owner Financing Available! Handyman Special! 2 Bedroom 1 Bath Home in Bonifay! Home has had new electrical and new HVAC installed in the last 15 months. Home is Block constructed on crawlspace. Seller is pricing it to Sell!

Key facts

• Metal roof
• Updated windows
• Shed in back yard

Tags

• BLOCK CONSTRUCTION HOME
• METAL ROOF
• UPDATED WINDOWS
• SHED IN BACK YARD

Property features AI

Exterior

• Parking: Unpaved parking
• Utilities: Electricity available; Public sewer
• Home design: Single-story; Metal roof; Block construction
• Construction: Block construction; Metal roof
• Exterior features: Open porch; Shed(s); City street frontage; Publicly maintained road

Interior

• Bedrooms: Second-level bedroom (10 x 12); First-level bedroom (12 x 12)
• Bathrooms: 1 full bathroom
• Interior features: Total of 2 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $61 ($727/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 $74k (1.8% below list).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.8% in Bonifay — 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 67/100 on livability (#577 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Holmes (rural): math 44% / reading 45% proficiency, ranked #53 of 73 in FL (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ponce De Leon Elementary School (math 42% / reading 52%, grade D-, #1,191 of 2,144 statewide, top 57%, 308 students, 58% FRL); Holmes County High School (math 22% / reading 50%, grade F, #359 of 667 statewide, top 55%, 453 students, 49% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 144 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 12 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Holmes County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.98% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $115,625
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 E Indiana Ave	0.72mi	2/1.0	912 (-1%)	17mo	$67,000	$73	50
203 Hubbard Ave	0.43mi	3/1.0 (+1)	1,036 (+12%)	16mo	$129,000	$125	42

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: 26.8%
• Equity multiple: 3.13×
• Total profit: $44,718
• Equity at exit: $67,566

10-year hold

• IRR: 23.4%
• Equity multiple: 7.13×
• Total profit: $128,680
• Equity at exit: $145,709

Cash invested: $21,000 (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 32425

• Home prices YoY: 16.2%
• Active inventory: 144
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $737 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$155
• Net cashflow: $61

Break-even live

Break-even rent $660

Max offer price $75,000

Occupancy floor 87%

Sensitivity live

Price	-10% $103	-5% $82	+0% $61	+5% $39	+10% $18
Rent	-10% $2	-5% $31	+0% $61	+5% $90	+10% $119
Rate	-1.0pp $98	-0.5pp $80	base $61	+0.5pp $41	+1.0pp $21

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 Hill Loop Bonifay, FL	1.0	1.0	732	$750	$1.02	23d	1	0.78mi
117 Hill Loop Bonifay, FL	1.0	1.0	702	$750	$1.07	23d	1	0.80mi
125 Hill Loop Bonifay, FL	1.0	1.0	532	$700	$1.32	23d	1	0.82mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $75,000 Pending 64 DOM
2. 2026-06-05
   days on market $75,000 Active 62 DOM
3. 2026-06-02
   days on market $75,000 Active 60 DOM
4. 2026-06-01
   days on market $75,000 Active 59 DOM
5. 2026-05-31
   days on market $75,000 Active 58 DOM
6. 2026-05-30
   days on market $75,000 Active 57 DOM
7. 2026-05-04
   price $75,000
8. 2026-04-03
   listed $85,000 Active
9. 2023-07-21
   soldstatus $65,000 Closed 223-char remark

   Show marketing remark (223 chars)

   Owner Financing Available! Handyman Special! 2 Bedroom 1 Bath Home in Bonifay! Home has had new electrical and new HVAC installed in the last 15 months. Home is Block constructed on crawlspace. Seller is pricing it to Sell!

10. 2023-06-08
    status Pending 223-char remark

    Show marketing remark (223 chars)

    Owner Financing Available! Handyman Special! 2 Bedroom 1 Bath Home in Bonifay! Home has had new electrical and new HVAC installed in the last 15 months. Home is Block constructed on crawlspace. Seller is pricing it to Sell!

11. 2023-04-20
    status Active 223-char remark

    Show marketing remark (223 chars)

    Owner Financing Available! Handyman Special! 2 Bedroom 1 Bath Home in Bonifay! Home has had new electrical and new HVAC installed in the last 15 months. Home is Block constructed on crawlspace. Seller is pricing it to Sell!

12. 2023-04-11
    status Pending 223-char remark

    Show marketing remark (223 chars)

    Owner Financing Available! Handyman Special! 2 Bedroom 1 Bath Home in Bonifay! Home has had new electrical and new HVAC installed in the last 15 months. Home is Block constructed on crawlspace. Seller is pricing it to Sell!

13. 2023-04-06
    listed $74,900 Active 223-char remark

    Show marketing remark (223 chars)

    Owner Financing Available! Handyman Special! 2 Bedroom 1 Bath Home in Bonifay! Home has had new electrical and new HVAC installed in the last 15 months. Home is Block constructed on crawlspace. Seller is pricing it to Sell!

14. 2020-07-24
    soldstatus $31,000 512-char remark

    Show marketing remark (512 chars)

    CURRENTLY UNDER CONTRACT-SELLER WILL LOOK AT BACKUP CONTRACTS. Investment opportunity with the 2/1 concrete block home in the Bonifay city limits. Home offers a spacious floorplan with living room, kitchen/dining area and large laundry room. Lots of potential for a rental or a fixer upper to live in. Close to shopping, schools and medical facilities. Approx. 50 miles from Panama City beaches, Pier Park shopping and Northwest Florida International Airport. Chipley is approx. 9 miles for additional amenities.

15. 2019-07-23
    listed $39,900 512-char remark

    Show marketing remark (512 chars)

    CURRENTLY UNDER CONTRACT-SELLER WILL LOOK AT BACKUP CONTRACTS. Investment opportunity with the 2/1 concrete block home in the Bonifay city limits. Home offers a spacious floorplan with living room, kitchen/dining area and large laundry room. Lots of potential for a rental or a fixer upper to live in. Close to shopping, schools and medical facilities. Approx. 50 miles from Panama City beaches, Pier Park shopping and Northwest Florida International Airport. Chipley is approx. 9 miles for additional amenities.

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,842
• − Mortgage interest: −$4,201
• − Property taxes: −$1,163
• − Insurance: −$375
• − Repairs & maintenance: −$707
• − Management: −$707
• − Depreciation: −$2,182
• Taxable loss: −$494
• Est. tax savings @ 24.0%: +$119
• After-tax cash flow: $846/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: Holmes
• NCES district ID: 1200900
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $35,365
• Composite: 36.83/100
• National rank: #4558
• State rank: #53 of 73 in FL

Livability — Bonifay

• Score: 67/100
• State rank: #577
• US rank: #10976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonifay, FL
• Population (ZIP): 13,944

Population outlook (Holmes County) Hauer SSP2

• Today (2025): 17,963 people
• By 2030: 17,245 · -4.0%
• By 2040: 15,970 · -11.1%
• By 2050: 14,905 · -17.0%
• By 2075: 12,327 · -31.4%
• By 2100: 9,760 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Holmes

• 2024 margin: Solid R (+80.2) · D 9.7% · R 89.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -65.0pp · 2024: -80.2pp
• All cycles: 2024: R+80.2 2020: R+78.9 2016: R+77.9 2012: R+68.3 2008: R+65.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.87%
• Current HPI: 322.29
• 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

+88.0% since first listed

9 events — show timeline

• 2026-05-04 Price Changed $75,000 CPARMLS
• 2026-04-03 Listed $85,000 CPARMLS
• 2023-07-21 Sold (MLS) $65,000 CPARMLS
• 2023-06-08 Pending — CPARMLS
• 2023-04-20 Relisted — CPARMLS
• 2023-04-11 Pending — CPARMLS
• 2023-04-06 Listed $74,900 CPARMLS
• 2020-07-24 Sold (MLS) $31,000 CPARMLS
• 2019-07-23 Listed $39,900 CPARMLS

Property tax history

+21.2%/yr

Latest (2025): $1,163 · +18.0% YoY. Source: county tax records.