893 8th St · Chipley, FL 32428

$139,900

3 bd · 2.0 ba · 2,136 sqft · SingleFamily public records · 699 Days on market

Built 1963 0.91 ac lot $65/sqft · 36% below area Est $169k · 17% under ↓ 22% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• 1% rule +4.2/10.0
• Schools +4.1/10.0
• DSCR +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

Key facts

• City utilities
• 1.34 acres
• 0.91 acre lot

Tags

• EXPANSIVE BLOCK HOUSE
• CITY UTILITIES
• BONUS DOUBLEWIDE MOBILE HOME
• 1.34 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (7.9% below list).
• Recommended offer: $123k (12.1% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 3.2% in Chipley — 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 66/100 on livability (#614 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, amenities F, commute F.
• Washington (rural): math 49% / reading 50% proficiency, ranked #45 of 73 in FL (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 775 active listings in the ZIP; 217 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 699 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $40k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,941 (12.1% 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 699 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• GRM: 9.0

CMA / ARV

• ARV (median comp): $168,569
• List price: $139,900
• Delta: -17.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1249 Woodrow Ave	0.23mi	3/2.0	2,088 (-2%)	2mo	$325,000	$156	84
1179 South Blvd	0.46mi	3/2.0	2,156 (+1%)	7mo	$92,920	$43	71
1277 South Blvd	0.52mi	3/2.0	1,903 (-11%)	14mo	$310,000	$163	46
853 1st St	0.66mi	2/2.0 (-1)	1,917 (-10%)	2mo	$100,000	$52	45
868 2nd St	0.59mi	4/2.5 (+1)	2,050 (-4%)	21mo	$240,000	$117	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-28,674
• Equity at exit: $20,860

10-year hold

• IRR: -14.3%
• Equity multiple: 0.17×
• Total profit: $-32,395
• Equity at exit: $12,096

Cash invested: $39,172 (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 32428

• Home prices YoY: -9.2%
• Active inventory: 775
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,289 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$256 /mo · $3,068/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-96

Break-even live

Break-even rent $1,410

Max offer price $122,941

Occupancy floor —

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-04
   status Pending 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

2. 2026-01-13
   price $139,900 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

3. 2025-06-18
   price $149,900 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

4. 2025-05-29
   status Active 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

5. 2025-05-12
   status Pending 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

6. 2025-01-14
   status Active 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

7. 2025-01-14
   price $159,900 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

8. 2024-06-27
   price $165,000 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

9. 2024-05-17
   listed $180,000 Active 474-char remark

   Show marketing remark (474 chars)

   Rare opportunity in Chipley city limits! This expansive block house features 3 bedrooms and 2 baths, with city utilities. Inside, you'll find a living room, family room, and a large bonus room that would make a perfect area for entertaining once a HVAC is added. The breakfast bar and lots of cabinets in the kitchen offer ample storage space, while the oversized laundry room adds extra convenience. * * * * * * SELLERS ARE SELLING THIS PROPERTY AS IS * * * * * *

ⓘ 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: $3,068 · $256/mo
• Projected year-2 tax: $3,068 · $256/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,464
• − Mortgage interest: −$7,837
• − Property taxes: −$3,068
• − Insurance: −$1,497
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$4,070
• Taxable loss: −$3,481
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $-316/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: Washington
• NCES district ID: 1202010
• Math proficiency: 49% ▼ -7.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $36,948
• Composite: 41.12/100
• National rank: #3561
• State rank: #45 of 73 in FL

Livability — Chipley

• Score: 66/100
• State rank: #614
• US rank: #11863

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chipley, FL
• Population (ZIP): 18,015

Population outlook (Washington County) Hauer SSP2

• Today (2025): 24,087 people
• By 2030: 23,600 · -2.0%
• By 2040: 22,643 · -6.0%
• By 2050: 21,524 · -10.6%
• By 2075: 18,432 · -23.5%
• By 2100: 13,298 · -44.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+65.4) · D 17.0% · R 82.4%
• 2008→2024 swing: -17.7pp toward R · 2008: -47.8pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+61.1 2016: R+57.1 2012: R+47.4 2008: R+47.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.96%
• Current HPI: 247.8492
• Rent YoY: —
• Metro: —
• 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

-22.3% since first listed

9 events — show timeline

• 2026-05-04 Pending — CPARMLS
• 2026-01-13 Price Changed $139,900 CPARMLS
• 2025-06-18 Price Changed $149,900 CPARMLS
• 2025-05-29 Relisted — CPARMLS
• 2025-05-12 Pending — CPARMLS
• 2025-01-14 Relisted — CPARMLS
• 2025-01-14 Price Changed $159,900 CPARMLS
• 2024-06-27 Price Changed $165,000 CPARMLS
• 2024-05-17 Listed $180,000 CPARMLS

Property tax history

+26.0%/yr

Latest (2024): $3,068 · +9.6% YoY. Source: county tax records.