112 Pansy Ln · Defuniak Springs, FL 32433

$90,000

2 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 110 Days on market

Built 1985 Poor condition 10,018 sqft lot $85/sqft · 56% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

Investor special in a growing area with no HOA! Surrounded by newer construction homes and recently installed mobile homes, this property offers excellent potential for renovation. Situated on a spacious lot with strong upside in an improving area. Ideal opportunity for investors looking to bring new life to the property or add to their rental portfolio. Property will require clean-out and significant repairs. Cash buyers only. Sold as-is.

Key facts

• 0.23 acre lot
• Built 1985
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 4.8% in Defuniak Springs — 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 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); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL).
• Market conditions: 553 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 38% 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 $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
6. 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?
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: 1.86% ✓
• Cap rate: 16.63%
• Cash-on-cash: 36.91%
• DSCR: 2.64
• GRM: 4.5

CMA / ARV

• ARV (median comp): $203,013
• List price: $90,000
• Delta: -55.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
190 E Iris Ln	0.34mi	3/2.0 (+1)	1,114 (+6%)	0mo	$175,888	$158	69
204 E Iris Ln	0.36mi	3/2.0 (+1)	1,114 (+6%)	0mo	$175,888	$158	69
135 E Tiger Lily Ln	0.31mi	3/2.0 (+1)	1,114 (+6%)	3mo	$179,888	$161	68
249 E Tiger Lily Ln	0.23mi	2/2.0	937 (-11%)	7mo	$167,000	$178	65
594 Tiger Lily Ln	0.27mi	2/2.0	937 (-11%)	9mo	$172,990	$185	61
224 E Iris Ln	0.34mi	3/2.0 (+1)	1,165 (+10%)	2mo	$209,000	$179	60
115 E Tiger Lily Ln	0.33mi	2/2.0	937 (-11%)	8mo	$159,888	$171	60
1657 Trout Dr	0.57mi	3/2.0 (+1)	1,114 (+6%)	2mo	$179,888	$161	58
1623 Trout Dr	0.56mi	3/2.0 (+1)	1,114 (+6%)	2mo	$179,888	$161	58
969 Walden Rd	0.49mi	2/2.0	1,152 (+9%)	9mo	$200,990	$174	54
82 E Daisy Ln	0.54mi	3/1.0 (+1)	975 (-8%)	2mo	$139,990	$144	51
189 W Violet Ln	0.59mi	2/2.0	937 (-11%)	9mo	$178,990	$191	46

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: 52.7%
• Equity multiple: 4.90×
• Total profit: $98,364
• Equity at exit: $81,079

10-year hold

• IRR: 46.3%
• Equity multiple: 10.95×
• Total profit: $250,801
• Equity at exit: $174,850

Cash invested: $25,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 18 active · 9 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $208,490 ($187/sqft)
• Median days on market: 77 d
• This list price: 6% of active listings are priced below it
• ARV vs active asking: +2.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32433

• Home prices YoY: 4.2%
• Active inventory: 553
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,674 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $775

Break-even live

Break-even rent $693

Max offer price $90,000

Occupancy floor 49%

Sensitivity live

Price	-10% $826	-5% $801	+0% $775	+5% $750	+10% $724
Rent	-10% $643	-5% $709	+0% $775	+5% $841	+10% $907
Rate	-1.0pp $820	-0.5pp $798	base $775	+0.5pp $752	+1.0pp $728

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: $22,500
• Closing costs: $2,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Tiger Lily Ln Defuniak Springs, FL	3.0	2.0	1114	$1,795	$1.61	62d	1	0.32mi
71 Lafavre Ln Defuniak Springs, FL	2.0	1.0	806	$1,650	$2.05	70d	1	0.68mi
150 Hibiscus Ave Defuniak Springs, FL	3.0	2.0	1256	$1,950	$1.55	70d	1	0.89mi

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Private well waterSeptic sewerNatural gas available
• Home design: Traditional styleSingle-story (1 story)Built in 1985
• Construction: Recorded building area 1,056 sq ft
• Exterior features: Private wellSeptic tankLot approximately 0.23 acresSubdivision: OAKWOOD HILLS UNIT 1

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms (both on the first floor)Master bedroom on the first floor
• Bathrooms: 2 full bathrooms (first floor)
• Heating & cooling: Natural gas heatingWindow air conditioning units
• Interior features: 8 total roomsLiving room on the first floorDining area on the first floor
• Laundry & utility: Dedicated laundry room on the first floor

Listing history 50 events

1. 2026-08-08
   days on market $90,000 Active 110 DOM
2. 2026-08-07
   days on market $90,000 Active 109 DOM
3. 2026-08-06
   days on market $90,000 Active 108 DOM
4. 2026-08-05
   days on market $90,000 Active 107 DOM
5. 2026-08-04
   days on market $90,000 Active 106 DOM
6. 2026-08-03
   days on market $90,000 Active 105 DOM
7. 2026-07-31
   days on market $90,000 Active 102 DOM
8. 2026-07-30
   days on market $90,000 Active 101 DOM
9. 2026-07-29
   days on market $90,000 Active 100 DOM
10. 2026-07-27
    days on market $90,000 Active 98 DOM
11. 2026-07-25
    days on market $90,000 Active 96 DOM
12. 2026-07-24
    days on market $90,000 Active 95 DOM
13. 2026-07-23
    days on market $90,000 Active 94 DOM
14. 2026-07-22
    days on market $90,000 Active 93 DOM
15. 2026-07-21
    days on market $90,000 Active 92 DOM
16. 2026-07-18
    days on market $90,000 Active 89 DOM
17. 2026-07-16
    days on market $90,000 Active 87 DOM
18. 2026-07-16
    days on market $90,000 Active 86 DOM
19. 2026-07-14
    days on market $90,000 Active 85 DOM
20. 2026-07-13
    days on market $90,000 Active 84 DOM
21. 2026-07-12
    days on market $90,000 Active 83 DOM
22. 2026-07-11
    days on market $90,000 Active 82 DOM
23. 2026-07-10
    days on market $90,000 Active 81 DOM
24. 2026-07-09
    days on market $90,000 Active 80 DOM
25. 2026-07-08
    days on market $90,000 Active 79 DOM
26. 2026-07-07
    days on market $90,000 Active 78 DOM
27. 2026-07-06
    days on market $90,000 Active 77 DOM
28. 2026-07-05
    days on market $90,000 Active 76 DOM
29. 2026-07-04
    days on market $90,000 Active 75 DOM
30. 2026-07-03
    days on market $90,000 Active 74 DOM
31. 2026-07-02
    days on market $90,000 Active 73 DOM
32. 2026-07-01
    days on market $90,000 Active 72 DOM
33. 2026-06-30
    days on market $90,000 Active 71 DOM
34. 2026-06-29
    days on market $90,000 Active 70 DOM
35. 2026-06-28
    days on market $90,000 Active 69 DOM
36. 2026-06-28
    days on market $90,000 Active 68 DOM
37. 2026-06-27
    days on market $90,000 Active 67 DOM
38. 2026-06-25
    days on market $90,000 Active 65 DOM
39. 2026-06-23
    days on market $90,000 Active 63 DOM
40. 2026-06-21
    days on market $90,000 Active 62 DOM
41. 2026-06-18
    days on market $90,000 Active 59 DOM
42. 2026-06-17
    days on market $90,000 Active 58 DOM
43. 2026-06-16
    days on market $90,000 Active 57 DOM
44. 2026-06-15
    days on market $90,000 Active 56 DOM
45. 2026-06-14
    days on market $90,000 Active 54 DOM
46. 2026-06-13
    days on market $90,000 Active 53 DOM
47. 2026-06-10
    days on market $90,000 Active 51 DOM
48. 2026-06-09
    days on market $90,000 Active 50 DOM
49. 2026-06-08
    days on market $90,000 Active 49 DOM
50. 2026-06-07
    days on market $90,000 Active 48 DOM

ⓘ 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: $456 · $38/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$291/yr (+$24/mo · 63.9%)

ⓘ 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 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $20,090
• − Mortgage interest: −$5,041
• − Property taxes: −$456
• − Insurance: −$450
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$2,618
• Taxable income: $8,310
• Est. tax owed @ 24.0%: −$1,994
• After-tax cash flow: $7,307/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.

Condition & rehab AI · 9 photos

Poor 20/100 Extensive rehab Est. rehab $52,800–$95,040 screening

This property requires extensive repairs and renovations to stabilize the structure and improve its curb appeal. Significant work is needed on the roof, exterior, and bathrooms, as well as landscaping and fencing repairs.

Repairs flagged

• Major roof — Significant rust and damage
• Major exterior siding — Worn and peeling
• Major bathroom flooring — Exposed subflooring
• Major interior walls — Paint peeling and drywall damage
• Major bathroom fixtures — Damaged and missing tiles
• Major fencing — Damaged and leaning

Value-add opportunities

• Both New roof — Stabilizes the structure and improves curb appeal ↑
• Both New siding — Enhances curb appeal and durability ↑
• Both New bathroom fixtures — Improves functionality and aesthetics ↑
• Both Landscaping and fence repair — Enhances curb appeal and safety ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary Mossy Head School B FL #525/2,144 Nat'l #5,189/41,679 Middle Walton Middle School C FL #246/571 Nat'l #3,367/14,009 High Walton High School C- FL #154/667 Nat'l #4,948/17,239

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

C Composite livability gradescore 64/100

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 · 80,014 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: 10% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Private well waterSeptic sewerNatural gas available
• Home design: Traditional styleSingle-story (1 story)Built in 1985
• Construction: Recorded building area 1,056 sq ft
• Exterior features: Private wellSeptic tankLot approximately 0.23 acresSubdivision: OAKWOOD HILLS UNIT 1

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms (both on the first floor)Master bedroom on the first floor
• Bathrooms: 2 full bathrooms (first floor)
• Heating & cooling: Natural gas heatingWindow air conditioning units
• Interior features: 8 total roomsLiving room on the first floorDining area on the first floor
• Laundry & utility: Dedicated laundry room on the first floor

Price history

1 event — show timeline

• 2026-04-20 Listed $90,000 ECAR

Property tax history

-0.2%/yr

Latest (2025): $456 · +0.4% YoY. Source: county tax records.