4758 Boutwell Rd · Laurel Hill, FL 32567

$127,500

3 bd · 2.0 ba · 2,185 sqft · SingleFamily public records · 104 Days on market

Built 1970 0.65 ac lot $58/sqft · 47% below area Est $243k · 47% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +5.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.5/10.0

Listing remarks MLS

Welcome to your next great investment in a peaceful country setting with prime HWY 85 frontage - offering visibility for a cottage business or home based venture. Generously sized rooms filled with natural light and a spacious kitchen is ready to be reimagined. The home boasts solid YELLOW HEART PINE construction. The subfloor is tongue and groove yellow heart pine as well - a rare and durable feature that speaks to the quality and longevity of the structure. With strong bones and untapped potential, this property is ready for someone with vision to restore, renovate or repurpose. Whether you're an investor looking for a project or a buyer dreaming of creating something special, this AS-IS offering presents a unique opportunity. Bring your ideas and make an offer!!

Key facts

• Untapped potential
• Hwy 85 frontage
• Spacious kitchen

Tags

• HWY 85 FRONTAGE
• NATURAL LIGHT
• SPACIOUS KITCHEN
• YELLOW HEART PINE CONSTRUCTION
• STRONG BONES
• UNTAPPED POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $116k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 3.5% in Laurel Hill — 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 62/100 on livability (#759 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D+, 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.
• Market conditions: 110 active listings in the ZIP; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Recommended offer $116,025 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.43% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.17%
• DSCR: 2.03
• GRM: 5.8

CMA / ARV

• ARV (median comp): $242,552
• List price: $127,500
• Delta: -47.43%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.1%
• Equity multiple: 1.65×
• Total profit: $23,187
• Equity at exit: $19,011

10-year hold

• IRR: 24.7%
• Equity multiple: 3.14×
• Total profit: $76,504
• Equity at exit: $11,024

Cash invested: $35,700 (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 32567

• Home prices YoY: -2.9%
• Active inventory: 110
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,822 medium
• Mortgage (P&I): −$669
• Tax from tax record: −$28 /mo · $340/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $689

Break-even live

Break-even rent $950

Max offer price $127,500

Occupancy floor 57%

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $127,500 Active 104 DOM
2. 2026-06-17
   days on market $127,500 Active 103 DOM
3. 2026-06-16
   days on market $127,500 Active 102 DOM
4. 2026-06-15
   days on market $127,500 Active 101 DOM
5. 2026-06-14
   days on market $127,500 Active 99 DOM
6. 2026-06-13
   days on market $127,500 Active 98 DOM
7. 2026-06-10
   days on market $127,500 Active 96 DOM
8. 2026-06-09
   days on market $127,500 Active 95 DOM
9. 2026-06-08
   days on market $127,500 Active 94 DOM
10. 2026-06-07
    days on market $127,500 Active 93 DOM
11. 2026-06-05
    days on market $127,500 Active 90 DOM
12. 2026-06-02
    days on market $127,500 Active 88 DOM
13. 2026-06-01
    days on market $127,500 Active 87 DOM
14. 2026-05-31
    days on market $127,500 Active 86 DOM
15. 2026-05-30
    days on market $127,500 Active 85 DOM
16. 2026-03-04
    listed $127,500 Active 776-char remark

    Show marketing remark (776 chars)

    Welcome to your next great investment in a peaceful country setting with prime HWY 85 frontage - offering visibility for a cottage business or home based venture. Generously sized rooms filled with natural light and a spacious kitchen is ready to be reimagined. The home boasts solid YELLOW HEART PINE construction. The subfloor is tongue and groove yellow heart pine as well - a rare and durable feature that speaks to the quality and longevity of the structure. With strong bones and untapped potential, this property is ready for someone with vision to restore, renovate or repurpose. Whether you're an investor looking for a project or a buyer dreaming of creating something special, this AS-IS offering presents a unique opportunity. Bring your ideas and make an offer!!

ⓘ 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: $340 · $28/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$718/yr (+$60/mo · 210.9%)

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

Taxation est. · year 1

• Rental income: $21,864
• − Mortgage interest: −$7,142
• − Property taxes: −$340
• − Insurance: −$638
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$3,709
• Taxable income: $6,537
• Est. tax owed @ 24.0%: −$1,569
• After-tax cash flow: $6,702/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 — Laurel Hill

• Score: 62/100
• State rank: #759
• US rank: #16757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,820

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: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 9% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Iranian 5% Romanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -7.00%
• Current HPI: 236.47
• 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

1 event — show timeline

• 2026-03-04 Listed $127,500 ECAR

Property tax history

+1.0%/yr

Latest (2025): $340 · +5.6% YoY. Source: county tax records.