118 N Sand Palm Rd · Freeport, FL 32439

$219,000

3 bd · 3.0 ba · 1,471 sqft · Townhouse public records · 11 Days on market

Built 2020 Est $228k · at est. $125/mo HOA · 6% of rent

---

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 +12.5/30.0
• ARV discount +9.3/15.0
• Schools +5.2/10.0
• 1% rule +3.9/10.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Vista floor plan offers 3 bedrooms, 2.5 baths, and 1,336 sq. ft. of thoughtfully designed living space. The open floor plan with kitchen island includes luxury finishes such as quartz countertops throughout, stainless steel appliances, soft-closing cabinets, and luxury vinyl plank flooring on the first floor and carpet on the second floor. Blinds and refrigerator are included for added convenience. Upstairs, you'll find a laundry room with full-size hookups for your own washer/dryer, a Jack and Jill bathroom between the two back bedrooms, and a spacious primary suite. A large back patio with storage closet completes this well-appointed home. The Verandas features excellent amenities in

Key facts

• Open floor plan
• Quartz countertops
• Kitchen island

Tags

• OPEN FLOOR PLAN
• KITCHEN ISLAND
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• SOFT-CLOSING CABINETS
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• HOA & community: Has association; Association covers grounds maintenance, land recreation, management, and trash; Community features include BBQ/grill, fishing, pavilion/gazebo, pool, TV cable, and pet-friendly rules

Exterior

• Parking: 1 assigned parking space; 1 driveway space
• Security: TV cable available
• Utilities: Electric service; Public water; Public sewer; Tap fee paid
• Home design: Florida Cottage style; 2 stories; Built in 2020; Resid Multi-Family zoning
• Construction: Metal roof; Concrete construction; Pitched roof; Wood trim; Cement fiberboard siding
• Exterior features: Covered deck; Open porch; Community pool; Paved road access; Level lot; Sidewalks; Covenants

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric water heater
• Bedrooms: 3 bedrooms; Master bedroom on second level with walk-in closet and double vanity in master bath
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: 3 bathrooms (2 full, 1 half)
• Heating & cooling: Central heating; Central air; Ceiling fans; Electric heat control
• Interior features: Breakfast bar; Crown molding; Newly painted; Washer/dryer hookup; Window treatments; Unfurnished
• Laundry & utility: Laundry room on second level; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $219k.

Deal economics

• At list price, monthly cash flow is $-31 ($-367/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (10.7% below list).
• Recommended offer: $196k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 21 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).

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.
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $195,550 (10.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.89% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $228,005
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 S Sand Palm Rd	0.11mi	3/2.5	1,454 (-1%)	1mo	$210,000	$144	90
16 S Sand Palm Rd	0.09mi	3/2.5	1,426 (-3%)	1mo	$210,000	$147	88
17 S Sand Palm Rd	0.11mi	3/2.5	1,426 (-3%)	1mo	$218,500	$153	87
22 N Sand Palm Rd #15	0.09mi	3/2.5	1,529 (+4%)	1mo	$220,000	$144	86
220 Date Palm Ln #220	0.24mi	3/2.5	1,471 (0%)	1mo	$205,000	$139	86
113 Date Palm Ln	0.14mi	3/2.5	1,484 (+1%)	6mo	$260,000	$175	85
304 Date Palm Ln	0.21mi	3/2.5	1,512 (+3%)	1mo	$234,900	$155	83
304 Date Palm Ln Unit Horizon	0.21mi	3/2.5	1,512 (+3%)	1mo	$234,900	$155	83
392 N Sand Palm Rd	0.23mi	3/2.5	1,426 (-3%)	2mo	$230,000	$161	80
43 N Sand Palm Rd	0.05mi	3/2.5	1,396 (-5%)	9mo	$234,000	$168	80
320 N Sand Palm	0.19mi	3/2.0	1,396 (-5%)	2mo	$210,000	$150	76
179 N Sand Palm Rd #179	0.07mi	3/2.5	1,336 (-9%)	12mo	$234,500	$176	70

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: -19.1%
• Equity multiple: 0.34×
• Total profit: $-40,467
• Equity at exit: $32,654

10-year hold

• IRR: -15.5%
• Equity multiple: 0.19×
• Total profit: $-49,785
• Equity at exit: $18,935

Cash invested: $61,320 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,956 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$211 /mo · $2,529/yr
• Insurance: −$91
• HOA: −$125
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $-31

Break-even live

Break-even rent $1,994

Max offer price $213,597

Occupancy floor 97%

Sensitivity live

Price	-10% $93	-5% $31	+0% $-31	+5% $-93	+10% $-155
Rent	-10% $-185	-5% $-108	+0% $-31	+5% $47	+10% $124
Rate	-1.0pp $80	-0.5pp $25	base $-31	+0.5pp $-87	+1.0pp $-145

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 N Sand Palm Rd Freeport, FL	3.0	2.5	1471	$1,595	$1.08	23d	1	0.05mi
76 N Sand Palm Rd Freeport, FL	2.0	3.0	1128	$1,450	$1.29	23d	1	0.05mi
246 N Sand Palm Rd Freeport, FL	3.0	2.5	1471	$1,650	$1.12	23d	1	0.14mi
259 N Sand Palm Rd Freeport, FL	3.0	2.5	1336	$1,600	$1.20	23d	1	0.15mi
151 Date Palm Ln Freeport, FL	3.0	2.5	1484	$1,775	$1.20	15d	1	0.17mi
15284 U.S. 331 Business Freeport, FL	2.0	3.0	1106	$1,400	$1.27	23d	1	0.18mi
15031 U.S. 331 Business Unit 104 Freeport, FL	3.0	2.0	1007	$1,800	$1.79	23d	1	0.18mi
15031 U.S. 331 Business Unit 117 Freeport, FL	3.0	2.0	1007	$1,700	$1.69	23d	1	0.18mi
156 Date Palm Ln Freeport, FL	3.0	2.5	1432	$2,300	$1.61	23d	1	0.18mi
15 Oakfield Dr Freeport, FL	3.0	2.0	1531	$2,350	$1.53	15d	1	0.52mi
832 Whispering Creek Ave Freeport, FL	4.0	2.0	1398	$2,175	$1.56	23d	1	0.75mi
70 Jakes Way Freeport, FL	3.0	2.0	1500	$2,100	$1.40	23d	1	0.87mi
178 Whispering Creek Ave Freeport, FL	3.0	2.0	1706	$2,550	$1.49	23d	1	0.90mi
266 Emr AVE Freeport, FL	1.0–2.0	1.0–2.0	909	$985	$1.08	15d	5	0.96mi
255 N Jackson St Freeport, FL	3.0	2.0	1456	$2,100	$1.44	23d	1	0.97mi
3495 Sanctuary WAY Melbourne, FL	1.0–3.0	1.0–2.0	1002	$2,412	$2.41	15d	38	0.97mi
2 Polk St Freeport, FL	3.0	2.0	1155	$1,550	$1.34	23d	1	1.17mi
245 Pine St Freeport, FL	3.0	2.0	1368	$2,000	$1.46	23d	1	1.19mi
51 S Main Deck Dr Freeport, FL	3.0	2.5	1500	$2,095	$1.40	23d	1	1.42mi
47 S Main Deck Dr Unit 1 Freeport, FL	3.0	2.5	1459	$2,000	$1.37	23d	1	1.42mi
41 S Main Deck Dr Unit 1 Freeport, FL	3.0	2.5	1500	$2,195	$1.46	23d	1	1.42mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 8 events

1. 2026-06-21
   days on market $219,000 Active 11 DOM
2. 2026-06-18
   days on market $219,000 Active 8 DOM
3. 2026-06-17
   days on market $219,000 Active 7 DOM
4. 2026-06-16
   days on market $219,000 Active 6 DOM
5. 2026-06-15
   days on market $219,000 Active 5 DOM
6. 2026-06-14
   days on market $219,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $219,000 Active 2 DOM

ⓘ 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: $2,529 · $211/mo
• Projected year-2 tax: $2,529 · $211/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 ≥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: $23,466
• − Mortgage interest: −$12,267
• − Property taxes: −$2,529
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,877
• − Management: −$1,877
• − HOA: −$1,500
• − Depreciation: −$6,371
• Taxable loss: −$4,051
• Est. tax savings @ 24.0%: +$972
• After-tax cash flow: $605/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

+12066.7% since first listed

15 events — show timeline

• 2026-06-10 Listed $219,000 ECAR
• 2025-09-29 Rental Removed $1,595 APPFOLIO
• 2025-09-27 Listed for Rent $1,595 APPFOLIO
• 2025-09-26 Rental Removed $1,595 ECAR
• 2025-07-28 Rental Removed $1,595 APPFOLIO
• 2025-07-26 Price Changed $1,595 ECAR
• 2025-07-26 Listed for Rent $1,700 APPFOLIO
• 2025-07-01 Listed for Rent $1,700 ECAR
• 2025-05-12 Rental Removed $1,685 APPFOLIO
• 2025-05-09 Rental Removed $1,685 ECAR
• 2025-05-07 Price Changed $1,685 ECAR
• 2025-05-07 Listed for Rent $1,800 APPFOLIO
• 2025-04-12 Listed for Rent $1,800 ECAR
• 2025-04-12 Rental Removed $1,800 APPFOLIO
• 2025-03-26 Listed for Rent $1,800 APPFOLIO

Property tax history

+10.4%/yr

Latest (2025): $2,529 · +1.5% YoY. Source: county tax records.