17 Cat Island Cir · DeFuniak Springs, FL 32433

$290,990

4 bd · 2.0 ba · 1,773 sqft · SingleFamily · 3 Days on market

Built 2026 0.37 ac lot Est $284k · at est. $29/mo HOA · 1% of rent

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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 +6.8/30.0
• ARV discount +6.3/15.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.1/10.0

Listing remarks

Welcome home to our Roanoke plan. This thoughtfully designed 4-bedroom, 2-bathroom home offers 1,773 square feet of comfortable, open-concept living. The spacious layout seamlessly connects the kitchen, dining, and living areas. The kitchen features shaker-style cabinets, beautiful quartz countertops, and stainless steel appliances. The primary suite hosts a private bath, including dual sinks and a large walk-in closet. Three additional bedrooms provide plenty of space for family, guests, or a home office. Step out from the living area onto a covered back porch, providing you with relaxing outdoor space and easy access to the backyard. With modern finishes, quality craftsmanship, and a func

Key facts

• Quartz countertops
• Open design
• Gorgeous cabinets

Tags

• SINGLE-STORY HOME
• CAT ISLAND ESTATES COMMUNITY
• OPEN DESIGN
• GORGEOUS CABINETS
• QUARTZ COUNTERTOPS
• STAINLESS-STEEL APPLIANCES

Property features AI

Finance

• Financial info: List price $290,990

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family property (ROANOKE plan)
• Construction: New construction (Spec)
• Exterior features: Address: 17 Cat Island Cir, Defuniak Springs, FL 32433

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home (ROANOKE plan); Living area approximately 1,773

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $291k.

Deal economics

• At list price, monthly cash flow is $-450 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (30.8% below list).
• Recommended offer: $201k (30.8% 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: 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); South Walton High School (math 61% / reading 73%, grade B, #69 of 667 statewide, top 11%, 1,235 students, 20% FRL) — zoned schools average 33% FRL vs 48% district-wide (15 pts lower); this property's tenant base skews higher-income than 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).
• At $2,013/mo this rent would consume 46% of the median local household income ($52k/yr) (locally 356% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k 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 ~$50k 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,292 (30.8% 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. 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?
5. 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?
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: 0.69% ✗
• Cap rate: 4.44%
• Cash-on-cash: -6.62%
• DSCR: 0.71
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $283,680
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
337 Cat Island Cir	0.11mi	4/2.0	1,773 (0%)	4mo	$258,888	$146	91
241 Cat Island Cir	0.12mi	4/2.0	1,773 (0%)	4mo	$285,990	$161	91
257 Cat Island Cir	0.12mi	4/2.0	1,684 (-5%)	2mo	$258,888	$154	84
321 Cat Island Cir	0.11mi	4/2.0	1,684 (-5%)	5mo	$250,888	$149	82
225 Cat Island Cir	0.18mi	4/2.0	1,684 (-5%)	3mo	$279,990	$166	81
252 Squirrel Rd	0.20mi	4/2.0	1,696 (-4%)	4mo	$294,500	$174	80
218 Squirrel Rd	0.17mi	4/2.0	1,773 (0%)	23mo	$279,990	$158	73
238 Squirrel Rd	0.19mi	4/2.0	1,684 (-5%)	24mo	$268,990	$160	63

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: 19.6%
• Equity multiple: 2.59×
• Total profit: $129,884
• Equity at exit: $262,147

10-year hold

• IRR: 18.0%
• Equity multiple: 5.97×
• Total profit: $405,108
• Equity at exit: $565,330

Cash invested: $81,477 (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: 12.0×

Monthly cashflow live

• Estimated rent: $2,013 medium
• Mortgage (P&I): −$1,526
• Tax est. 1.5%: −$364 /mo · $4,365/yr
• Insurance: −$121
• HOA: −$29
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-450

Break-even live

Break-even rent $2,582

Max offer price $225,909

Occupancy floor —

Sensitivity live

Price	-10% $-249	-5% $-349	+0% $-450	+5% $-550	+10% $-651
Rent	-10% $-609	-5% $-529	+0% $-450	+5% $-370	+10% $-291
Rate	-1.0pp $-303	-0.5pp $-376	base $-450	+0.5pp $-525	+1.0pp $-602

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: $72,748
• Closing costs: $8,730
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 8 events

1. 2026-06-21
   days on market $290,990 Active 3 DOM
2. 2026-06-18
   days on marketlisting id $290,990 Active 1 DOM
3. 2026-06-18
   days on market $290,990 Active 6 DOM
4. 2026-06-17
   days on market $290,990 Active 5 DOM
5. 2026-06-16
   days on market $290,990 Active 4 DOM
6. 2026-06-15
   days on market $290,990 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $290,990 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 8/10 Severe 7 d/yr ≥107°F today · 18 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: $24,155
• − Mortgage interest: −$16,300
• − Property taxes: −$4,365
• − Insurance: −$1,455
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − HOA: −$348
• − Depreciation: −$8,465
• Taxable loss: −$10,643
• Est. tax savings @ 24.0%: +$2,554
• After-tax cash flow: $-2,843/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