994 O'sage Dr · Defuniak Springs, FL 32433

$225,000

3 bd · 2.0 ba · 1,724 sqft · Manufactured public records · 35 Days on market

Built 2023 7.55 ac lot

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Why this score? — see what drove the C- 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 +13.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• DSCR +3.9/10.0
• Livability +3.2/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Tucked within the quiet countryside of DeFuniak Springs, this 7.55 acre property presents an opportunity to own a piece of land with space, privacy, and future potential. Surrounded by mature trees and a relaxed rural setting, the property offers a flexible canvas for a variety of possibilities, with the added convenience of paved road access. Existing structures and utilities are already in place and will convey as-is, making this an appealing option for buyers seeking land with infrastructure already established. Whether you're looking to build, invest, create a private retreat, or reimagine the property entirely, this is a chance to shape the space to fit your vision.

Key facts

• Utilities in place
• Paved road access
• 7.55 acre property

Tags

• 7.55 ACRE PROPERTY
• PAVED ROAD ACCESS
• EXISTING STRUCTURES
• UTILITIES IN PLACE

Property features AI

Finance

• HOA & community: Subdivision: HINOTE COMMONS

Exterior

• Parking: Detached carport
• Utilities: Electric service; Public water; Septic tank
• Home design: Single-story home; Other architectural style; Built in 2023
• Construction: Metal roof
• Exterior features: 7.55-acre parcel; Paved county road frontage and access; Creek with approximately 20 feet of waterfront

Interior

• Kitchen: First-floor kitchen
• Bedrooms: 2 bedrooms (both on the first floor)
• Bathrooms: 2 full bathrooms (first floor)
• Heating & cooling: Window/wall air conditioning; Wall/window heating
• Interior features: Window air conditioning units; Wall/window heating

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $-12 ($-138/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (22.6% below list).
• Recommended offer: $174k (22.6% 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: Mossy Head School (math 72% / reading 57%, grade B, #525 of 2,144 statewide, top 26%, 439 students, 86% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 75% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 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 $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $174,038 (22.6% 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 35 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. 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: 0.77% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $125,852
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
687 Osage Dr	0.32mi	3/2.0	1,710 (-1%)	1mo	$125,000	$73	83

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: 24.1%
• Equity multiple: 2.93×
• Total profit: $121,730
• Equity at exit: $202,698

10-year hold

• IRR: 21.4%
• Equity multiple: 6.70×
• Total profit: $358,897
• Equity at exit: $437,126

Cash invested: $63,000 (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 32433

• Home prices YoY: 4.2%
• Active inventory: 422
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,740 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$113 /mo · $1,353/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-12

Break-even live

Break-even rent $1,755

Max offer price $222,964

Occupancy floor 96%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $225,000 Active 35 DOM
2. 2026-06-17
   days on market $225,000 Active 34 DOM
3. 2026-06-16
   price $225,000 Active 33 DOM
4. 2026-06-16
   days on market $250,000 Active 33 DOM
5. 2026-06-15
   days on market $250,000 Active 32 DOM
6. 2026-06-14
   days on market $250,000 Active 30 DOM
7. 2026-06-13
   days on market $250,000 Active 29 DOM
8. 2026-06-10
   days on market $250,000 Active 27 DOM
9. 2026-06-09
   days on market $250,000 Active 26 DOM
10. 2026-06-08
    days on market $250,000 Active 25 DOM
11. 2026-06-07
    days on market $250,000 Active 24 DOM
12. 2026-06-05
    days on market $250,000 Active 21 DOM
13. 2026-06-03
    days on market $250,000 Active 20 DOM
14. 2026-06-02
    days on market $250,000 Active 19 DOM
15. 2026-06-01
    days on market $250,000 Active 18 DOM
16. 2026-05-31
    days on market $250,000 Active 17 DOM
17. 2026-05-30
    days on market $250,000 Active 16 DOM
18. 2026-05-14
    listed $250,000 Active

    Show marketing remark (679 chars)

    Tucked within the quiet countryside of DeFuniak Springs, this 7.55 acre property presents an opportunity to own a piece of land with space, privacy, and future potential. Surrounded by mature trees and a relaxed rural setting, the property offers a flexible canvas for a variety of possibilities, with the added convenience of paved road access. Existing structures and utilities are already in place and will convey as-is, making this an appealing option for buyers seeking land with infrastructure already established. Whether you're looking to build, invest, create a private retreat, or reimagine the property entirely, this is a chance to shape the space to fit your vision.

19. 2026-05-14
    listed $250,000 Active 679-char remark

    Show marketing remark (679 chars)

    Tucked within the quiet countryside of DeFuniak Springs, this 7.55 acre property presents an opportunity to own a piece of land with space, privacy, and future potential. Surrounded by mature trees and a relaxed rural setting, the property offers a flexible canvas for a variety of possibilities, with the added convenience of paved road access. Existing structures and utilities are already in place and will convey as-is, making this an appealing option for buyers seeking land with infrastructure already established. Whether you're looking to build, invest, create a private retreat, or reimagine the property entirely, this is a chance to shape the space to fit your vision.

20. 2025-01-17
    soldstatus $180,000 Sold 343-char remark

    Show marketing remark (343 chars)

    This is a great property for someone who wants rental property and live there too. Beautiful rural property with nice trees. There is an existing pair of cabanas with bathrooms already in place and a shared kitchen. The mobile home has been a rental. All will need work. Being sold as is. Has solar panels ready to go but need to be connected.

21. 2024-11-09
    listed $210,000 Active 343-char remark

    Show marketing remark (343 chars)

    This is a great property for someone who wants rental property and live there too. Beautiful rural property with nice trees. There is an existing pair of cabanas with bathrooms already in place and a shared kitchen. The mobile home has been a rental. All will need work. Being sold as is. Has solar panels ready to go but need to be connected.

ⓘ 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: $1,353 · $113/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$514/yr (+$43/mo · 38.0%)

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

Taxation est. · year 1

• Rental income: $20,885
• − Mortgage interest: −$12,603
• − Property taxes: −$1,353
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$6,545
• Taxable loss: −$4,084
• Est. tax savings @ 24.0%: +$980
• After-tax cash flow: $842/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

+19.0% since first listed

4 events — show timeline

• 2026-05-14 Listed $250,000 ECAR
• 2026-05-14 Listed $250,000 ECAR
• 2025-01-17 Sold (MLS) $180,000 ECAR
• 2024-11-09 Listed $210,000 ECAR