2 Sarah Ln · Wright, FL 32547

$150,000

2 bd · 2.0 ba · 1,392 sqft · Manufactured public records · 11 Days on market

Built 1991 8,712 sqft lot $108/sqft · 18% below area Est $184k · 18% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2 Sarah Lane in Fort Walton Beach, a move in ready home that combines comfort, functionality, and major updates that give buyers peace of mind. Recent improvements include a new roof, updated plumbing, and a new HVAC system installed in 2024. Inside, you'll find a bright and inviting layout with an open living area that flows naturally into the updated kitchen featuring stainless steel appliances and plenty of cabinet space. The spacious primary suite offers a private bathroom with a separate soaking tub and shower along with a generously sized closet. Additional rooms provide flexibility for guests, family or a home office setup. Outside, the private backyard creates the perfect

Key facts

• Storage building
• Metal workshop
• Mature shade trees

Tags

• METAL WORKSHOP
• STORAGE BUILDING
• MATURE SHADE TREES

Property features AI

Finance

• Other: Zoned for mobile home; Lot is level, irregular and interior on a dead-end paved county road
• HOA & community: Subdivision: NONESUCH WAY

Exterior

• Parking: Detached carport; Carport
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric service; TV cable
• Home design: Manufactured home; Single-story
• Construction: Built in 1991; Vinyl siding and trim; Pitched roof; Flat roof listed (property includes flat roof detail)
• Exterior features: Outdoor grill; Private yard; Lawn pump; Yard building; Rain gutters; Partially fenced lot; Covered and enclosed deck; Workshop

Interior

• Kitchen: Refrigerator; Freezer; Pantry
• Bedrooms: 2 bedrooms (master bedroom on first floor with carpet, separate shower, and double vanity)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans
• Interior features: Bookcases; Vaulted ceilings; Handicap provisions; Pantry; Split bedroom layout; Washer/dryer hookup; Storm doors; Window treatments
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.3% vs local median 4.2% in Wright — 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 80/100 on livability (#117 in FL, #1,790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Okaloosa (other): math 60% / reading 60% proficiency, ranked #12 of 73 in FL (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kenwood Elementary School (math 68% / reading 64%, grade B+, #492 of 2,144 statewide, top 23%, 545 students, 58% FRL); Choctawhatchee Senior High School (math 42% / reading 50%, grade D-, #220 of 667 statewide, top 33%, 1,677 students, 52% FRL) — zoned schools average 55% FRL vs 36% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 224 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 31% of the median local income ($71k/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 $4k of value loss. Plan a longer hold.
• Okaloosa County population projected at +37% 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.
• 9 sale attempts since 5y ago; this cycle's ask has dropped $10k (6%) 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

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. 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?
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.38%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

• ARV (median comp): $183,620
• List price: $150,000
• Delta: -12.86%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,348
• Equity at exit: $22,365

10-year hold

• IRR: 8.1%
• Equity multiple: 1.53×
• Total profit: $22,437
• Equity at exit: $12,969

Cash invested: $42,000 (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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 224
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,834 high
• Mortgage (P&I): −$787
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $503

Break-even live

Break-even rent $1,197

Max offer price $150,000

Occupancy floor 68%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1705 Conservation Trl Unit 104 Fort Walton Beach, FL	2.0	2.0	1190	$1,900	$1.60	21d	1	0.09mi
1004 McLaren Cir Fort Walton Beach, FL	3.0	2.5	1537	$2,500	$1.63	43d	1	0.15mi
1008 Pineview Blvd Unit D Fort Walton Beach, FL	2.0	2.0	1200	$1,650	$1.38	21d	1	0.15mi
1839 Sod Dr Fort Walton Beach, FL	3.0	2.0	1425	$1,925	$1.35	21d	1	0.16mi
913 Landry St #5 Fort Walton Beach, FL	2.0	1.0	884	$1,200	$1.36	21d	1	0.21mi
1319 Greendale Ave Fort Walton Beach, FL	2.0	2.0	900	$1,400	$1.56	21d	1	0.29mi
713 N Park Blvd Fort Walton Beach, FL	3.0	2.5	1363	$1,950	$1.43	43d	1	0.30mi
699 Woodlawn Ave NW Fort Walton Beach, FL	3.0	2.5	1567	$2,240	$1.43	13d	1	0.34mi
984 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,650	$1.32	13d	1	0.34mi
976 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,675	$1.34	43d	1	0.36mi
977 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,650	$1.32	43d	1	0.36mi
1128 Sweetbriar Station Fort Walton Beach, FL	3.0	2.0	1150	$1,850	$1.61	21d	1	0.36mi
1329 White Blossom Ln Fort Walton Beach, FL	3.0	2.5	1735	$1,900	$1.10	13d	1	0.38mi
216 Cloverdale Blvd Unit C Fort Walton Beach, FL	2.0	1.5	1224	$1,700	$1.39	43d	1	0.38mi
954 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,700	$1.36	21d	1	0.40mi
905 Piedmont Pl Fort Walton Beach, FL	3.0	2.0	1303	$1,695	$1.30	43d	1	0.41mi
309 Union St Fort Walton Beach, FL	3.0	2.0	1602	$2,100	$1.31	13d	1	0.42mi
2800 Bradford Pl NW Fort Walton Beach, FL	2.0	2.0	850	$1,395	$1.64	13d	5	0.49mi
537 Schneider Dr Unit A Fort Walton Beach, FL	2.0	1.5	1250	$1,650	$1.32	21d	1	0.51mi
2809 Bradford Pl NW Unit 4 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	43d	1	0.55mi
2809 Bradford Pl NW Unit 3 Fort Walton Beach, FL	2.0	2.0	928	$1,300	$1.40	13d	1	0.55mi
702 Terrance Ct Unit A Fort Walton Beach, FL	2.0	2.0	1009	$1,700	$1.68	13d	1	0.55mi
2812 Bradford Pl NW Unit 4 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	21d	1	0.56mi
1917 Heartland Dr Fort Walton Beach, FL	3.0	2.0	1190	$2,200	$1.85	21d	1	0.56mi
964 Southern Oaks Ct Fort Walton Beach, FL	3.0	2.0	1315	$2,000	$1.52	43d	1	0.57mi
507 Landview St Fort Walton Beach, FL	2.0	1.5	900	$1,300	$1.44	21d	1	0.57mi
2813 Bradford Pl NW Unit 2 Fort Walton Beach, FL	2.0	2.0	928	$1,300	$1.40	13d	1	0.57mi
2814 Bradford Pl NW Unit 3 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	21d	1	0.57mi
1112 Green Tree Ct Fort Walton Beach, FL	3.0	2.0	1181	$1,900	$1.61	43d	1	0.59mi
1867 Heartland Dr Fort Walton Beach, FL	3.0	2.0	1300	$2,095	$1.61	21d	1	0.59mi
915 Emily Cir Fort Walton Beach, FL	3.0	2.0	1358	$2,195	$1.62	13d	1	0.62mi
818 Fairview Dr #4 Fort Walton Beach, FL	3.0	2.5	1750	$2,000	$1.14	13d	1	0.68mi
838 Fairview Dr Fort Walton Beach, FL	3.0	2.5	1608	$2,000	$1.24	43d	1	0.68mi
1916 Squirrel Path Fort Walton Beach, FL	2.0	2.0	1056	$1,795	$1.70	43d	1	0.70mi
1825 Hunters Path Fort Walton Beach, FL	2.0	2.0	1192	$1,825	$1.53	43d	1	0.74mi
806 Fairview Dr Fort Walton Beach, FL	2.0	1.0	901	$1,350	$1.50	43d	1	0.79mi
862 Fairview Dr Unit B Fort Walton Beach, FL	3.0	2.5	1568	$1,750	$1.12	43d	1	0.79mi
2113 Wilderness Path Fort Walton Beach, FL	3.0	2.0	1253	$2,095	$1.67	43d	1	0.85mi
2113 Wilderness Path Fort Walton Beach, FL	3.0	2.0	1253	$2,095	$1.67	13d	1	0.85mi
2132 Wilderness Path Fort Walton Beach, FL	3.0	2.0	1250	$1,675	$1.34	43d	1	0.86mi

Listing history 38 events

1. 2026-06-18
   days on market $150,000 Active 11 DOM
2. 2026-06-17
   price $150,000 Active 10 DOM
3. 2026-06-17
   days on market $160,000 Active 10 DOM
4. 2026-06-16
   days on market $160,000 Active 9 DOM
5. 2026-06-15
   days on market $160,000 Active 8 DOM
6. 2026-06-14
   days on market $160,000 Active 6 DOM
7. 2026-06-13
   days on market $160,000 Active 5 DOM
8. 2026-06-10
   days on market $160,000 Active 3 DOM
9. 2026-06-09
   days on market $160,000 Active 2 DOM
10. 2026-06-08
    days on marketlisting id $160,000 Active 1 DOM
11. 2026-06-07
    days on market $160,000 Active 23 DOM
12. 2026-06-05
    pricedays on market $160,000 Active 20 DOM
13. 2026-06-02
    days on market $165,000 Active 18 DOM
14. 2026-06-01
    days on market $165,000 Active 17 DOM
15. 2026-05-31
    days on market $165,000 Active 16 DOM
16. 2026-05-30
    days on market $165,000 Active 15 DOM
17. 2026-05-07
    listed $170,000 Active 1109-char remark
18. 2025-09-21
    historical
19. 2025-07-24
    price $175,000
20. 2025-04-18
    status Active
21. 2025-03-06
    status Pending
22. 2025-01-26
    historical Contingent
23. 2025-01-09
    price $185,000
24. 2024-09-19
    listed $175,000 Active
25. 2024-09-17
    listed $195,000 Active
26. 2022-01-28
    soldstatus $145,000
27. 2022-01-25
    soldstatus $145,000 Sold
28. 2022-01-25
    soldstatus $145,000
29. 2022-01-15
    status Pending
30. 2022-01-11
    price $150,000
31. 2022-01-11
    status Active
32. 2021-12-21
    status Pending
33. 2021-12-10
    status Active
34. 2021-10-09
    status Pending
35. 2021-09-18
    listed $165,000 Active
36. 2021-09-17
    listed $150,000
37. 1992-03-01
    soldstatus $13,400
38. 1977-01-01
    soldstatus $7,200

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$86/yr (+$7/mo · 7.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,011
• − Mortgage interest: −$8,402
• − Property taxes: −$1,159
• − Insurance: −$750
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$4,364
• Taxable income: $3,814
• Est. tax owed @ 24.0%: −$915
• After-tax cash flow: $5,125/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: Okaloosa
• NCES district ID: 1201380
• Math proficiency: 60% ▼ -12.00%
• Reading proficiency: 60% ▼ -4.00%
• Median HH income: $55,601
• Composite: 51.62/100
• National rank: #1705
• State rank: #12 of 73 in FL

Livability — Wright

• Score: 80/100
• State rank: #117
• US rank: #1790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wright, FL
• County: Okaloosa County · 194,352 people
• City population: 35,522
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

Population outlook (Okaloosa County) Hauer SSP2

• Today (2025): 235,133 people
• By 2030: 253,483 · +7.8%
• By 2040: 289,537 · +23.1%
• By 2050: 322,954 · +37.3%
• By 2075: 399,624 · +70.0%
• By 2100: 425,311 · +80.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Okaloosa

• 2024 margin: Solid R (+42.4) · D 28.2% · R 70.7% · Other 1.1%
• 2008→2024 swing: +2.5pp toward D · 2008: -44.9pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+39.1 2016: R+47.8 2012: R+49.4 2008: R+44.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

+1983.3% since first listed

27 events — show timeline

• 2026-06-17 Price Changed $150,000 ECAR
• 2026-06-09 Listing Removed — CPARMLS
• 2026-06-07 Listed $160,000 ECAR
• 2026-06-04 Price Changed $160,000 CPARMLS
• 2026-05-23 Price Changed $165,000 CPARMLS
• 2026-05-07 Listed $170,000 CPARMLS
• 2025-09-21 Listing Removed — PARMLS
• 2025-07-24 Price Changed $175,000 PARMLS
• 2025-04-18 Relisted — PARMLS
• 2025-03-06 Pending — PARMLS
• 2025-01-26 Contingent — PARMLS
• 2025-01-09 Price Changed $185,000 PARMLS
• 2024-09-19 Listed $175,000 ECAR
• 2024-09-17 Listed $195,000 PARMLS
• 2022-01-28 Sold (Public Records) $145,000 Public Records
• 2022-01-25 Sold (MLS) $145,000 NAMLS
• 2022-01-25 Sold (MLS) $145,000 ECAR
• 2022-01-15 Pending — ECAR
• 2022-01-11 Price Changed $150,000 ECAR
• 2022-01-11 Relisted — ECAR
• 2021-12-21 Pending — ECAR
• 2021-12-10 Relisted — ECAR
• 2021-10-09 Pending — ECAR
• 2021-09-18 Listed $165,000 ECAR
• 2021-09-17 Listed $150,000 NAMLS
• 1992-03-01 Sold (Public Records) $13,400 Public Records
• 1977-01-01 Sold (Public Records) $7,200 Public Records

Property tax history

+27.4%/yr

Latest (2025): $1,159 · +13.8% YoY. Source: county tax records.