393 Lowery Dr · Wright, FL 32547

$139,900

2 bd · 1.0 ba · 640 sqft · SingleFamily public records · 294 Days on market

Built 1985 8,712 sqft lot $219/sqft · 37% below area Est $222k · 37% under

---

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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +5.9/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

Key facts

• Fully renovated
• Refreshed bathroom
• New hvac unit

Tags

• FULLY RENOVATED
• NEW HVAC UNIT
• REFRESHED KITCHEN
• REFRESHED BATHROOM
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.2% in Wright — 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 80/100 on livability (#117 in FL, #1,790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools 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: Rents soft (-0.1%/yr); 224 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $967 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.

Negotiation context

• It's been on market 294 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $140k implies a 87% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 294 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.88%
• DSCR: 1.44
• GRM: 7.7

CMA / ARV

• ARV (median comp): $221,507
• List price: $139,900
• Delta: -36.84%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-6,622
• Equity at exit: $20,860

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $3,340
• 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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 224
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,519 high
• Mortgage (P&I): −$734
• Tax from tax record: −$86 /mo · $1,027/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $322

Break-even live

Break-even rent $1,111

Max offer price $139,900

Occupancy floor 74%

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Tsuga Way Unit L Fort Walton Beach, FL	1.0	1.0	680	$1,350	$1.99	43d	1	0.24mi
1800 Tsuga Way Unit G Fort Walton Beach, FL	1.0	1.0	680	$1,300	$1.91	20d	1	0.24mi
210 Pelham Rd Fort Walton Beach, FL	1.0–2.0	1.0	809	$1,500	$1.85	13d	2	0.90mi
320 Clifford St Fort Walton Beach, FL	1.0	1.0	600	$1,150	$1.92	43d	1	1.01mi
225 Wright Pkwy NW #4 Fort Walton Beach, FL	1.0	1.0	680	$1,195	$1.76	20d	1	1.16mi
200 Page Bacon Rd Mary Esther, FL	1.0–3.0	1.0–2.0	1030	$2,208	$2.14	13d	18	1.48mi

Listing history 29 events

1. 2026-06-18
   days on market $139,900 Active 294 DOM
2. 2026-06-17
   days on market $139,900 Active 293 DOM
3. 2026-06-16
   days on market $139,900 Active 292 DOM
4. 2026-06-15
   days on market $139,900 Active 291 DOM
5. 2026-06-14
   days on market $139,900 Active 289 DOM
6. 2026-06-13
   days on market $139,900 Active 288 DOM
7. 2026-06-10
   days on market $139,900 Active 286 DOM
8. 2026-06-09
   days on market $139,900 Active 285 DOM
9. 2026-06-08
   days on market $139,900 Active 284 DOM
10. 2026-06-07
    days on market $139,900 Active 283 DOM
11. 2026-06-05
    days on market $139,900 Active 280 DOM
12. 2026-06-02
    days on market $139,900 Active 278 DOM
13. 2026-06-01
    days on market $139,900 Active 277 DOM
14. 2026-05-31
    days on market $139,900 Active 276 DOM
15. 2026-05-30
    days on market $139,900 Active 275 DOM
16. 2026-04-23
    price $139,900 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

17. 2026-04-12
    price $144,900 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

18. 2026-03-01
    status Active 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

19. 2026-02-27
    status Active 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

20. 2025-12-25
    price $149,900 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

21. 2025-10-30
    price $159,900 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

22. 2025-10-01
    price $164,900 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

23. 2025-08-28
    listed $169,900 Active 558-char remark

    Show marketing remark (558 chars)

    393 Lowery Drive in Fort Walton offers a charming two-bedroom, one-bath home situated on a . 20-acre lot. Originally built in 1985, this property has been fully renovated inside with fresh paint, updated flooring, new doors, modern light fixtures, and beautifully refreshed kitchen and bathroom spaces. A brand-new HVAC unit, installed in 2025, ensures year-round comfort. Conveniently located near shopping and everyday amenities, the home provides both accessibility and privacy, with the benefit of not being directly surrounded by neighboring properties.

24. 2015-04-30
    soldstatus $75,000 795-char remark

    Show marketing remark (795 chars)

    Well-Maintained,Adorable and Affordable First Home- makes a terrific bachelor/bachelorette home-This 2 BDR/1BTH home has been meticulously cared for- granite countertop in Bathroom- Newly Insulated Attic (2 weeks ago)- Unfinished Hardwood floors under carpet in BDRooms/LvRoom/hall -Stove/Refrigerator Conveys- New Outbuilding/shed (7.5'x12')Conveys w/property- Large 200 sq' Front Uncovered Deck - There is also an approx. 280 sq' concrete pad located on property for recreational use -Basketball goal does NOT convey- There is a Right of Way to Power company noted on the Survey which is disclosed (see attachment to listing) Motivated Sellers!!!-Bring All offers! Conveniently located in the heart of Fort Walton Beach a few walking blocks away from Walmart/Lowes and many choice restaurants.

25. 2015-04-30
    soldstatus $75,000 795-char remark

    Show marketing remark (795 chars)

    Well-Maintained,Adorable and Affordable First Home- makes a terrific bachelor/bachelorette home-This 2 BDR/1BTH home has been meticulously cared for- granite countertop in Bathroom- Newly Insulated Attic (2 weeks ago)- Unfinished Hardwood floors under carpet in BDRooms/LvRoom/hall -Stove/Refrigerator Conveys- New Outbuilding/shed (7.5'x12')Conveys w/property- Large 200 sq' Front Uncovered Deck - There is also an approx. 280 sq' concrete pad located on property for recreational use -Basketball goal does NOT convey- There is a Right of Way to Power company noted on the Survey which is disclosed (see attachment to listing) Motivated Sellers!!!-Bring All offers! Conveniently located in the heart of Fort Walton Beach a few walking blocks away from Walmart/Lowes and many choice restaurants.

26. 2015-02-11
    listed $95,000 795-char remark

    Show marketing remark (795 chars)

    Well-Maintained,Adorable and Affordable First Home- makes a terrific bachelor/bachelorette home-This 2 BDR/1BTH home has been meticulously cared for- granite countertop in Bathroom- Newly Insulated Attic (2 weeks ago)- Unfinished Hardwood floors under carpet in BDRooms/LvRoom/hall -Stove/Refrigerator Conveys- New Outbuilding/shed (7.5'x12')Conveys w/property- Large 200 sq' Front Uncovered Deck - There is also an approx. 280 sq' concrete pad located on property for recreational use -Basketball goal does NOT convey- There is a Right of Way to Power company noted on the Survey which is disclosed (see attachment to listing) Motivated Sellers!!!-Bring All offers! Conveniently located in the heart of Fort Walton Beach a few walking blocks away from Walmart/Lowes and many choice restaurants.

27. 2006-08-08
    soldstatus $80,000
28. 1986-12-01
    soldstatus $33,000
29. 1983-11-01
    soldstatus $13,000

ⓘ 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: $1,027 · $86/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$134/yr (+$11/mo · 13.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,226
• − Mortgage interest: −$7,837
• − Property taxes: −$1,027
• − Insurance: −$700
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$4,070
• Taxable income: $1,677
• Est. tax owed @ 24.0%: −$402
• After-tax cash flow: $3,466/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 — Wright

• Score: 80/100
• State rank: #117
• US rank: #1790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wright, FL
• County: Okaloosa County · 194,352 people
• City population: 35,522
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 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: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

+976.2% since first listed

14 events — show timeline

• 2026-04-23 Price Changed $139,900 ECAR
• 2026-04-12 Price Changed $144,900 ECAR
• 2026-03-01 Relisted — ECAR
• 2026-02-27 Relisted — ECAR
• 2025-12-25 Price Changed $149,900 ECAR
• 2025-10-30 Price Changed $159,900 ECAR
• 2025-10-01 Price Changed $164,900 ECAR
• 2025-08-28 Listed $169,900 ECAR
• 2015-04-30 Sold (MLS) $75,000 NAMLS
• 2015-04-30 Sold (MLS) $75,000 ECAR
• 2015-02-11 Listed $95,000 NAMLS
• 2006-08-08 Sold (Public Records) $80,000 Public Records
• 1986-12-01 Sold (Public Records) $33,000 Public Records
• 1983-11-01 Sold (Public Records) $13,000 Public Records

Property tax history

+23.3%/yr

Latest (2025): $1,027 · +6.2% YoY. Source: county tax records.