834 Paradise Island Dr · DeFuniak Springs, FL 32433

$299,900

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 268 Days on market

Built 2021 0.42 ac lot Est $239k · 26% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +0.8/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Nice fish camp on King lake's Paradise Island. Small mobile is very attractive inside, great condition and well kept. Great fishing. Quiet and peaceful. Property has a lawn sprinkler system, storage building and a dock! Also has as complete RV hookup which includes septic and electrical.

Key facts

• Lake views
• Private dock
• Split floor plan

Tags

• PRIVATE DOCK
• LAKE VIEWS
• SPLIT FLOOR PLAN
• EAT-IN KITCHEN
• LUXURY VINYL FLOORS
• DBL VANITY

Property features AI

Finance

• HOA & community: Located in the Paradise Island subdivision

Exterior

• Parking: Detached carport with 2 carport spaces
• Utilities: Electric service; Public water; Septic tank
• Home design: Manufactured home; Single-story
• Construction: Built in 2021; Vinyl siding; Metal roof
• Exterior features: Dock; Partially fenced lot with chain link; Located on a dead-end road; Within 1/2 mile to water; Lake view; Lakefront property with approximately 91 feet of frontage

Interior

• Kitchen: Dishwasher; Microwave; Kitchen island; Pantry
• Bedrooms: 3 bedrooms (master on the first floor with walk-in closet)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; Master bathroom with cultured marble, double vanity, and separate shower
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Kitchen island; Recessed lighting; Pantry; 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 $300k.

Deal economics

• At list price, monthly cash flow is $-506 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (42.1% below list).
• Recommended offer: $174k (42.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#694 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, amenities 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: Maude Saunders Elementary School (math 58% / reading 52%, grade C, #872 of 2,144 statewide, top 42%, 553 students, 87% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL).
• Market conditions: 423 active listings in the ZIP; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 40% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $300k implies a 566% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,645 (42.1% 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 268 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.58% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.44%
• DSCR: 0.76
• GRM: 14.4

CMA / ARV

• ARV (on-the-fly): $238,560
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
757 Paradise Island Dr	0.09mi	3/2.0	1,832 (+9%)	9mo	$259,000	$141	73
600 Paradise Island Dr	0.23mi	3/2.0	1,568 (-7%)	6mo	$206,000	$131	73
808 Paradise Island Dr	0.03mi	3/2.0	1,512 (-10%)	22mo	$339,000	$224	64
448 Bell Dr	0.69mi	3/2.0	1,679 (-0%)	21mo	$269,000	$160	50
55 Patrick Dr	0.65mi	3/2.0	1,500 (-11%)	2mo	$212,900	$142	50
926 Kings Lake Blvd	0.65mi	3/2.0	1,773 (+6%)	23mo	$150,000	$85	41
135 Patrick Dr	0.59mi	3/3.0	1,440 (-14%)	13mo	$295,000	$205	34

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: 19.2%
• Equity multiple: 2.56×
• Total profit: $131,015
• Equity at exit: $270,174

10-year hold

• IRR: 17.7%
• Equity multiple: 5.89×
• Total profit: $410,973
• Equity at exit: $582,640

Cash invested: $83,972 (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 32433

• Home prices YoY: 4.2%
• Active inventory: 423
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $1,736 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$55 /mo · $659/yr
• Insurance: −$125
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-506

Break-even live

Break-even rent $2,377

Max offer price $210,520

Occupancy floor —

Sensitivity live

Price	-10% $-336	-5% $-421	+0% $-506	+5% $-591	+10% $-1,033
Rent	-10% $-643	-5% $-575	+0% $-506	+5% $-437	+10% $-369
Rate	-1.0pp $-355	-0.5pp $-430	base $-506	+0.5pp $-584	+1.0pp $-663

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $299,900 Active 268 DOM
2. 2026-06-18
   days on market $299,900 Active 265 DOM
3. 2026-06-17
   days on market $299,900 Active 264 DOM
4. 2026-06-16
   days on market $299,900 Active 263 DOM
5. 2026-06-15
   days on market $299,900 Active 262 DOM
6. 2026-06-14
   days on market $299,900 Active 260 DOM
7. 2026-06-13
   days on market $299,900 Active 259 DOM
8. 2026-06-10
   days on market $299,900 Active 257 DOM
9. 2026-06-09
   days on market $299,900 Active 256 DOM
10. 2026-06-08
    days on market $299,900 Active 255 DOM
11. 2026-06-07
    days on market $299,900 Active 254 DOM
12. 2026-06-05
    days on market $299,900 Active 251 DOM
13. 2026-06-03
    days on market $299,900 Active 250 DOM
14. 2026-06-03
    days on market $299,900 Active 249 DOM
15. 2026-06-01
    days on market $299,900 Active 248 DOM
16. 2026-05-31
    days on market $299,900 Active 247 DOM
17. 2026-05-30
    days on market $299,900 Active 246 DOM
18. 2026-02-11
    price $299,900
19. 2026-01-13
    price $310,000
20. 2025-09-23
    listed $319,900 Active
21. 2017-05-19
    soldstatus $45,000
22. 2009-08-24
    soldstatus $75,000
23. 2009-08-21
    soldstatus $75,000 288-char remark

    Show marketing remark (288 chars)

    Nice fish camp on King lake's Paradise Island. Small mobile is very attractive inside, great condition and well kept. Great fishing. Quiet and peaceful. Property has a lawn sprinkler system, storage building and a dock! Also has as complete RV hookup which includes septic and electrical.

24. 2009-08-21
    soldstatus $75,000 288-char remark

    Show marketing remark (288 chars)

    Nice fish camp on King lake's Paradise Island. Small mobile is very attractive inside, great condition and well kept. Great fishing. Quiet and peaceful. Property has a lawn sprinkler system, storage building and a dock! Also has as complete RV hookup which includes septic and electrical.

25. 2007-02-28
    listed $89,900 288-char remark

    Show marketing remark (288 chars)

    Nice fish camp on King lake's Paradise Island. Small mobile is very attractive inside, great condition and well kept. Great fishing. Quiet and peaceful. Property has a lawn sprinkler system, storage building and a dock! Also has as complete RV hookup which includes septic and electrical.

26. 2007-02-28
    listed $89,900 288-char remark

    Show marketing remark (288 chars)

    Nice fish camp on King lake's Paradise Island. Small mobile is very attractive inside, great condition and well kept. Great fishing. Quiet and peaceful. Property has a lawn sprinkler system, storage building and a dock! Also has as complete RV hookup which includes septic and electrical.

27. 2001-10-09
    soldstatus $10,000
28. 1996-05-28
    soldstatus $37,500

ⓘ 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: $659 · $55/mo
• Projected year-2 tax: $2,489 · $207/mo
• Expected delta: +$1,831/yr (+$153/mo · 278.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $20,837
• − Mortgage interest: −$16,799
• − Property taxes: −$659
• − Insurance: −$3,002
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$8,724
• Taxable loss: −$11,681
• Est. tax savings @ 24.0%: +$2,803
• After-tax cash flow: $-3,268/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 — DeFuniak Springs

• Score: 64/100
• State rank: #694
• US rank: #14475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• City population: 19,746
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 19,746
• Household income: $52,199
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 356.0

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 (75%)
• Race & ethnicity: White 75% Black 10% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 14.77%
• Current HPI: 367.046
• Rent YoY: —
• 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

+699.7% since first listed

11 events — show timeline

• 2026-02-11 Price Changed $299,900 ECAR
• 2026-01-13 Price Changed $310,000 ECAR
• 2025-09-23 Listed $319,900 ECAR
• 2017-05-19 Sold (Public Records) $45,000 Public Records
• 2009-08-24 Sold (Public Records) $75,000 Public Records
• 2009-08-21 Sold (MLS) $75,000 NAMLS
• 2009-08-21 Sold (MLS) $75,000 ECAR
• 2007-02-28 Listed $89,900 NAMLS
• 2007-02-28 Listed $89,900 ECAR
• 2001-10-09 Sold (Public Records) $10,000 Public Records
• 1996-05-28 Sold (Public Records) $37,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $659 · +2.4% YoY. Source: county tax records.