112 Pansy Ln · DeFuniak Springs, FL 32433

$90,000

2 bd · 2.0 ba · 1,056 sqft · SingleFamily public records · 59 Days on market

Built 1985 10,018 sqft lot

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Why this score? — see what drove the A- 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 +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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 59 days

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Private well water; Septic sewer; Natural gas available
• Home design: Traditional style; Single-story (1 story); Built in 1985
• Construction: Recorded building area 1,056 sq ft
• Exterior features: Private well; Septic tank; Lot approximately 0.23 acres; Subdivision: 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 heating; Window air conditioning units
• Interior features: 8 total rooms; Living room on the first floor; Dining area on the first floor
• Laundry & utility: Dedicated laundry room on the first floor

What this means for you Summary

Snapshot

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

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: $87k (3.0% 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); 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 59 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.86% ✓
• Cap rate: 16.63%
• Cash-on-cash: 36.91%
• DSCR: 2.64
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $189,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 E Tiger Lily Ln	0.31mi	3/2.0 (+1)	1,114 (+6%)	2mo	$179,888	$161	70
249 E Tiger Lily Ln	0.23mi	2/2.0	937 (-11%)	5mo	$167,000	$178	66
594 Tiger Lily Ln	0.27mi	2/2.0	937 (-11%)	8mo	$172,990	$185	62
624 Tiger Lily Ln	0.36mi	3/2.0 (+1)	1,114 (+6%)	9mo	$199,990	$180	62
224 E Iris Ln	0.34mi	3/2.0 (+1)	1,165 (+10%)	1mo	$209,000	$179	62
115 E Tiger Lily Ln	0.33mi	2/2.0	937 (-11%)	6mo	$159,888	$171	61
1623 Trout Dr	0.56mi	3/2.0 (+1)	1,114 (+6%)	1mo	$179,888	$161	59
969 Walden Rd	0.49mi	2/2.0	1,152 (+9%)	8mo	$200,990	$174	56
106 E Iris Ln	0.39mi	2/2.0	937 (-11%)	9mo	$184,990	$197	56
27 W Crocus Ave	0.47mi	2/2.0	937 (-11%)	8mo	$176,990	$189	53
82 E Daisy Ln	0.54mi	3/1.0 (+1)	975 (-8%)	0mo	$139,990	$144	52
189 W Violet Ln	0.59mi	2/2.0	937 (-11%)	8mo	$178,990	$191	47

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 →

ZIP-level market 32433

• Home prices YoY: 4.2%
• Active inventory: 422
• 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%

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
• 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	13d	1	0.32mi
71 Lafavre Ln Defuniak Springs, FL	2.0	1.0	806	$1,650	$2.05	21d	1	0.68mi
150 Hibiscus Ave Defuniak Springs, FL	3.0	2.0	1256	$1,950	$1.55	21d	1	0.89mi

Listing history 17 events

1. 2026-06-18
   days on market $90,000 Active 59 DOM
2. 2026-06-17
   days on market $90,000 Active 58 DOM
3. 2026-06-16
   days on market $90,000 Active 57 DOM
4. 2026-06-15
   days on market $90,000 Active 56 DOM
5. 2026-06-14
   days on market $90,000 Active 54 DOM
6. 2026-06-13
   days on market $90,000 Active 53 DOM
7. 2026-06-10
   days on market $90,000 Active 51 DOM
8. 2026-06-09
   days on market $90,000 Active 50 DOM
9. 2026-06-08
   days on market $90,000 Active 49 DOM
10. 2026-06-07
    days on market $90,000 Active 48 DOM
11. 2026-06-05
    days on market $90,000 Active 45 DOM
12. 2026-06-03
    days on market $90,000 Active 44 DOM
13. 2026-06-03
    days on market $90,000 Active 43 DOM
14. 2026-06-01
    days on market $90,000 Active 42 DOM
15. 2026-05-31
    days on market $90,000 Active 41 DOM
16. 2026-05-30
    days on market $90,000 Active 40 DOM
17. 2026-04-20
    listed $90,000 Active

ⓘ 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 5/10 Major
• 🌡 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.

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

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.