8 Alexander Way · Freeport, FL 32439

$292,500

3 bd · 2.0 ba · 1,294 sqft · SingleFamily public records · 106 Days on market

Built 2022 5,227 sqft lot Est $290k · at est. $75/mo HOA · 3% of rent ↓ 6% 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).

• Cash flow +10.7/30.0
• ARV discount +7.1/15.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• 1% rule +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2022-built single-family home featuring 3 bedrooms, 2 baths with open-concept living, quartz countertops, white kitchen, stainless steel appliances, LVP flooring in main areas, crown molding, walk-in closet, double vanity and fenced backyard. Located on a corner lot in Enclave at Freeport, FL, this home offers a covered patio, 1-car garage, Flood Zone X designation and low $75/month HOA. Move-in ready construction with modern finishes and low-maintenance living in a quiet neighborhood setting. Built in 2022 by Grayton Construction, this thoughtfully designed single-family home in Enclave at Freeport, delivers the modern layout and finishes buyers are actively searching for in Freeport, Flor

Key facts

• Quartz countertops
• Walk-in closet
• Lvp flooring

Tags

• OPEN-CONCEPT LIVING
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LVP FLOORING
• CROWN MOLDING
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Homeowners association with management services; Subdivision: Enclave at Freeport; Community features include picnic area and pet-friendly policies

Exterior

• Parking: Attached garage with 1 garage space; Driveway with 2 parking spaces
• Security: Smoke detectors
• Utilities: Electric service; Public water; Public sewer
• Home design: Single-story beach house style; Built in 2022
• Construction: Concrete and frame construction; Fiber cement/board siding with wood trim; Pitched roof; Shake roof; Foundation off grade
• Exterior features: Private yard; Open patio; Paved road access; Sidewalk; Dead-end street; Covenants

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: 3 bedrooms; master suite on the first floor with double vanity, tile bath, and walk-in closet
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans; Electric heat controls
• Interior features: Crown molding; Newly painted; Washer/dryer hookup; Window treatments
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $292k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (20.4% below list).
• Recommended offer: $233k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 34% 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 $2k of loan paydown is wiped out by about $9k 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 106 days — a 9% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $232,763 (20.4% 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 106 days. Have you received any prior offers? Is the seller open to a 20% 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. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $289,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Jessica Ct	0.12mi	3/2.0	1,325 (+2%)	2mo	$295,000	$223	89
150 Bradford Ct	0.05mi	3/2.0	1,302 (+1%)	10mo	$315,000	$242	88
7 Alexander Way	0.03mi	3/2.0	1,302 (+1%)	12mo	$307,000	$236	88
54 Caswell Branch Rd	0.09mi	3/2.0	1,314 (+2%)	12mo	$293,000	$223	84
26 Alexander Way	0.03mi	3/2.0	1,324 (+2%)	16mo	$315,000	$238	82
41 Jessica Ct	0.12mi	3/2.0	1,314 (+2%)	13mo	$293,000	$223	81
404 Four Mile Rd	0.17mi	3/2.0	1,314 (+2%)	12mo	$293,000	$223	80
386 Four Mile Rd	0.18mi	3/2.0	1,314 (+2%)	12mo	$293,000	$223	79
22 Jessica Ct	0.12mi	3/2.0	1,314 (+2%)	15mo	$295,000	$225	79
43 Justin Ct	0.17mi	3/2.0	1,314 (+2%)	16mo	$295,000	$225	76
12 Justin Ct	0.19mi	3/2.0	1,314 (+2%)	16mo	$294,900	$224	76
9 Laurel Oaks Dr	0.41mi	3/2.0	1,379 (+7%)	1mo	$302,152	$219	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: -21.5%
• Equity multiple: 0.27×
• Total profit: $-60,093
• Equity at exit: $43,613

10-year hold

• IRR: -19.3%
• Equity multiple: 0.04×
• Total profit: $-78,554
• Equity at exit: $25,290

Cash invested: $81,900 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,328 high
• Mortgage (P&I): −$1,534
• Tax from tax record: −$250 /mo · $2,995/yr
• Insurance: −$122
• HOA: −$75
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-142

Break-even live

Break-even rent $2,507

Max offer price $267,492

Occupancy floor —

Sensitivity live

Price	-10% $24	-5% $-59	+0% $-142	+5% $-224	+10% $-307
Rent	-10% $-325	-5% $-234	+0% $-142	+5% $-50	+10% $42
Rate	-1.0pp $6	-0.5pp $-67	base $-142	+0.5pp $-217	+1.0pp $-294

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: $73,125
• Closing costs: $8,775
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Bradford Ct Freeport, FL	3.0	2.0	1713	$2,095	$1.22	15d	1	0.01mi
170 Bradford Ct Freeport, FL	3.0	2.0	1253	$2,300	$1.84	22d	1	0.07mi
160 Bradford Ct Freeport, FL	3.0	2.0	1223	$2,495	$2.04	22d	1	0.07mi
41 S Main Deck Dr Unit 1 Freeport, FL	3.0	2.5	1500	$2,195	$1.46	22d	1	0.23mi
47 S Main Deck Dr Unit 1 Freeport, FL	3.0	2.5	1459	$2,000	$1.37	22d	1	0.23mi
51 S Main Deck Dr Freeport, FL	3.0	2.5	1500	$2,095	$1.40	22d	1	0.23mi
2 Polk St Freeport, FL	3.0	2.0	1155	$1,550	$1.34	22d	1	0.96mi
266 Emr AVE Freeport, FL	1.0–2.0	1.0–2.0	909	$985	$1.08	15d	5	1.02mi
3495 Sanctuary WAY Melbourne, FL	1.0–3.0	1.0–2.0	1002	$2,412	$2.41	15d	38	1.08mi
15 Oakfield Dr Freeport, FL	3.0	2.0	1531	$2,350	$1.53	15d	1	1.31mi
70 Jakes Way Freeport, FL	3.0	2.0	1500	$2,100	$1.40	22d	1	1.41mi
156 Date Palm Ln Freeport, FL	3.0	2.5	1432	$2,300	$1.61	22d	1	1.45mi
255 N Jackson St Freeport, FL	3.0	2.0	1456	$2,100	$1.44	22d	1	1.45mi
151 Date Palm Ln Freeport, FL	3.0	2.5	1484	$1,775	$1.20	15d	1	1.46mi
532 Marquis Way Freeport, FL	3.0	2.0	1807	$2,950	$1.63	22d	1	1.48mi

HOA detail

• Monthly dues: $75 · $900/yr

Listing history 12 events

1. 2026-06-05
   days on market $292,500 Active 106 DOM
2. 2026-06-03
   days on market $292,500 Active 105 DOM
3. 2026-06-03
   days on market $292,500 Active 104 DOM
4. 2026-06-01
   days on market $292,500 Active 103 DOM
5. 2026-05-31
   days on market $292,500 Active 102 DOM
6. 2026-05-30
   days on market $292,500 Active 101 DOM
7. 2026-04-24
   price $292,500
8. 2026-02-11
   price $305,000
9. 2025-12-27
   listed $319,000 Active
10. 2025-08-27
    listed $319,000 Active
11. 2025-02-18
    listed $305,000 Active
12. 2022-09-29
    soldstatus $309,999 Sold

ⓘ 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: $2,995 · $250/mo
• Projected year-2 tax: $2,995 · $250/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 10/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,932
• − Mortgage interest: −$16,385
• − Property taxes: −$2,995
• − Insurance: −$1,462
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − HOA: −$900
• − Depreciation: −$8,509
• Taxable loss: −$6,789
• Est. tax savings @ 24.0%: +$1,629
• After-tax cash flow: $-69/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

• Census place: Freeport, FL
• 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

-5.6% since first listed

6 events — show timeline

• 2026-04-24 Price Changed $292,500 ECAR
• 2026-02-11 Price Changed $305,000 ECAR
• 2025-12-27 Listed $319,000 ECAR
• 2025-08-27 Listed $319,000 ECAR
• 2025-02-18 Listed $305,000 ECAR
• 2022-09-29 Sold (MLS) $309,999 ECAR

Property tax history

+102.7%/yr

Latest (2025): $2,995 · -2.7% YoY. Source: county tax records.