48 Howlin Rd · DeFuniak Springs, FL 32433

$244,900

3 bd · 2.0 ba · 1,177 sqft · SingleFamily public records · 3 Days on market

Built 2009 0.34 ac lot Est $231k · 6% over

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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).

• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• Schools +5.2/10.0
• ARV discount +4.7/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0

Listing remarks MLS

2 lots totaling almost an acre. Nice lightly wooded lots. Mostly level. Good neighborhood. Mobile homes allowed. Larger than normal lot size for the subdivision. Close to town. Additional third lot for sale next door if more land is needed.

Key facts

• Concrete pad
• Insulated pole barn
• Privacy fencing

Tags

• INSULATED POLE BARN
• PRIVACY FENCING
• EXPANDED OUTDOOR LIVING SPACE
• FIRE PIT AREA
• DETACHED WORKSHOP
• CONCRETE PAD

Property features AI

Finance

• HOA & community: Located in Oakwood Lakes Estates subdivision

Exterior

• Parking: Attached garage with 1 parking space; Garage located on the first level
• Utilities: Electric service; Public water; Septic tank; Electric water heater
• Home design: Florida Cottage style; Single-story; Built in 2009; Irregular lot on a cul-de-sac, level; County road frontage; Zoned for single-family residential
• Construction: Frame construction with vinyl trim and cement fiberboard siding; Composite shingle roof; Slab foundation
• Exterior features: Hurricane shutters; Yard building; Privacy fencing; Open porch

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 3 bedrooms; Master bedroom on the first floor with trey ceiling and walk-in closet
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms; Master bathroom with tile
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; Vaulted ceilings; Tray ceilings; Newly painted; Pull-down attic stairs; Washer/dryer hookup
• Laundry & utility: Washer hookup; Dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-367 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (31.5% below list).
• Recommended offer: $168k (31.5% 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: West Defuniak Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 669 students, 69% 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) — zoned schools at 52% FRL track the district average.
• 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 39% 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 $26k of equity ($2k loan paydown + $24k 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 ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 17y ago 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.
• Current owner paid $24k; list at $245k implies a 920% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,721 (31.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.68% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.43%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $230,692
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
578 Smith Rd	0.33mi	3/2.0	1,200 (+2%)	18mo	$235,000	$196	66
534 Howlin Rd	0.54mi	3/2.0	1,200 (+2%)	18mo	$235,000	$196	56
546 Peacock Rd	0.73mi	3/2.0	1,270 (+8%)	19mo	$295,000	$232	37

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: 19.7%
• Equity multiple: 2.60×
• Total profit: $110,001
• Equity at exit: $220,625

10-year hold

• IRR: 18.1%
• Equity multiple: 5.99×
• Total profit: $342,389
• Equity at exit: $475,787

Cash invested: $68,572 (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: 12.2×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$1,284
• Tax est. 1.5%: −$306 /mo · $3,674/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-367

Break-even live

Break-even rent $2,142

Max offer price $191,729

Occupancy floor —

Sensitivity live

Price	-10% $-198	-5% $-283	+0% $-367	+5% $-452	+10% $-537
Rent	-10% $-500	-5% $-434	+0% $-367	+5% $-301	+10% $-235
Rate	-1.0pp $-244	-0.5pp $-305	base $-367	+0.5pp $-431	+1.0pp $-495

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $244,900 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $244,900 Active 1 DOM

ⓘ 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 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: $20,127
• − Mortgage interest: −$13,718
• − Property taxes: −$3,674
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$7,124
• Taxable loss: −$8,834
• Est. tax savings @ 24.0%: +$2,120
• After-tax cash flow: $-2,289/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

+3165.3% since first listed

14 events — show timeline

• 2026-06-18 Listed $244,900 ECAR
• 2025-10-14 Listed $39,000 ECAR
• 2021-02-25 Sold (MLS) $24,000 NAMLS
• 2021-02-25 Sold (MLS) $24,000 ECAR
• 2021-02-08 Pending — ECAR
• 2021-02-02 Listed $24,000 ECAR
• 2021-02-02 Listed $24,000 NAMLS
• 2012-07-31 Sold (MLS) $99,900 NAMLS
• 2012-07-31 Sold (MLS) $99,900 ECAR
• 2011-10-12 Listing Removed — NAMLS
• 2011-07-28 Listed $99,900 NAMLS
• 2009-05-12 Listed $114,900 NAMLS
• 2009-05-12 Listed $114,900 ECAR
• 2004-09-27 Sold (Public Records) $7,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $457 · +3.1% YoY. Source: county tax records.