685 Mcdaniels Fishcamp Rd · Freeport, FL 32439

$208,900

3 bd · 2.0 ba · 1,176 sqft · Manufactured public records · 28 Days on market

Built 1993 0.26 ac lot Est $260k · 20% under ↓ 4% since listing

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on McDaniel's Fish Camp Road where the bay life meets everyday comfort and peace and quiet! This 3-bedroom, 2-bathroom doublewide sits on a great quarter-acre lot just moments from Pitts Bayshore park and public boat ramp. This property gives you a gateway to waterfront views, boat launches, and lazy afternoons by the bay. Inside, the home offers luxury vinyl plank flooring, open floor plan featuring an expanded living room that opens onto a spacious screened porch. The home offers a split-bedroom floor plan offers privacy; the laundry hookups add practical convenience. South Walton coastal beaches located nearby and shopping just minutes away, this affordable home in Freeport deliv

Key facts

• Waterfront views
• Boat launches
• Quarter-acre lot

Tags

• QUARTER-ACRE LOT
• WATERFRONT VIEWS
• BOAT LAUNCHES
• SPACIOUS SCREENED PORCH
• SPLIT-BEDROOM FLOOR PLAN
• LAUNDRY HOOKUPS

Property features AI

Finance

• HOA & community: Located in the Magnolia Bay subdivision

Exterior

• Parking: Driveway with 2 spaces; Carport
• Utilities: Community water; Septic tank; Electric service
• Home design: Mobile home style; 1 story; Entry level: first floor; Facing information not provided
• Construction: Built in 1993; Vinyl siding and trim; Metal roof; Foundation on pilings
• Exterior features: Yard building; Workshop; Shed; Within 1/2 mile to water; Paved county road frontage (80 x 129 lot)

Interior

• Kitchen: Kitchen on first floor; Refrigerator
• Bedrooms: 3 bedrooms (master bedroom on first floor)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bathroom with shower
• Heating & cooling: Central heating; Central air; Window AC units; Ceiling fans
• Interior features: Pull-down attic stairs; Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $209k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $209k).
• Recommended offer: $206k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.0% in Freeport — 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 68/100 on livability (#520 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, amenities F, commute 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); Freeport Senior High School (math 47% / reading 62%, grade C-, #138 of 667 statewide, top 21%, 557 students, 43% FRL).
• Market conditions: Rents rising (+1.4%/yr); 1020 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 33% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,766 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.11% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.93%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $259,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
376 Stillwater Rd	0.31mi	3/2.0	1,064 (-10%)	1mo	$235,000	$221	69

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

Projected returns pro-forma

-3.0% appreciation · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-12,864
• Equity at exit: $31,148

10-year hold

• IRR: 1.6%
• Equity multiple: 1.10×
• Total profit: $6,059
• Equity at exit: $18,062

Cash invested: $58,492 (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 32439

• Home prices YoY: -4.2%
• Rents YoY: 1.4%
• Active inventory: 1020
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,317 medium
• Mortgage (P&I): −$1,095
• Tax est. 1.5%: −$261 /mo · $3,134/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $387

Break-even live

Break-even rent $1,827

Max offer price $208,900

Occupancy floor 78%

Sensitivity live

Price	-10% $531	-5% $459	+0% $387	+5% $314	+10% $242
Rent	-10% $204	-5% $295	+0% $387	+5% $478	+10% $570
Rate	-1.0pp $492	-0.5pp $440	base $387	+0.5pp $332	+1.0pp $277

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: $52,225
• Closing costs: $6,267
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Formby St Freeport, FL	3.0	2.0	924	$1,850	$2.00	23d	1	0.12mi
1952 County Highway 3280 Unit 3280 Freeport, FL	3.0	2.0	1269	$1,900	$1.50	23d	1	1.25mi

Listing history 5 events

1. 2026-06-01
   days on market $208,900 Active 28 DOM
2. 2026-05-31
   days on market $208,900 Active 27 DOM
3. 2026-05-30
   days on market $208,900 Active 26 DOM
4. 2026-05-12
   price $219,900
5. 2026-05-04
   listed $229,900 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 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: $27,802
• − Mortgage interest: −$11,702
• − Property taxes: −$3,134
• − Insurance: −$1,044
• − Repairs & maintenance: −$2,224
• − Management: −$2,224
• − Depreciation: −$6,077
• Taxable income: $1,397
• Est. tax owed @ 24.0%: −$335
• After-tax cash flow: $4,304/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 — Freeport

• Score: 68/100
• State rank: #520
• US rank: #9579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• City population: 15,328
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 15,328
• Household income: $83,227
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 172.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 8% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 1%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 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: ▼ -15.18%
• Current HPI: 350.4692
• Rent YoY: ▲ 1.40%
• 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

-4.3% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $219,900 ECAR
• 2026-05-04 Listed $229,900 ECAR

Property tax history

-10.5%/yr

Latest (2025): $106 · +4.0% YoY. Source: county tax records.