Lot 38 Sweethorn St · Freeport, FL 32439

$299,850

3 bd · 3.0 ba · 1,306 sqft · SingleFamily · 274 Days on market

Built 2026 Excellent condition 3,724 sqft lot Garage $230/sqft · at area comps Est $309k · at est.

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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).

• Cash flow +11.2/30.0
• ARV discount +8.9/15.0
• Schools +5.5/10.0
• Condition / age +4.8/5.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

The Cordial. From your huge covered front porch, step inside the comfort of your brand new home. Gather with friends & family in the open layout living space. Savor those conversations & appetizers around the quartz peninsula island in the kitchen. Retreat upstairs to your secluded primary suite featuring a trey ceiling in the bedroom, walk-in closet, dual sinks & a shower in the bathroom. On the other side of the home you have another bedroom with trey ceiling, walk-in closet & full bathroom. Downstairs is the 3rd bedroom & full bathroom. Rear entry garage. Covered porch & a patio out back.

Key facts

• Covered front porch
• Dual sinks
• Walk-in closet

Tags

• COVERED FRONT PORCH
• OPEN LAYOUT LIVING SPACE
• QUARTZ PENINSULA ISLAND
• SECLUDED PRIMARY SUITE
• WALK-IN CLOSET
• DUAL SINKS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $300k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (17.4% below list).
• Recommended offer: $248k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.9% in Freeport — 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 68/100 on livability (#520 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, amenities F, commute 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: Freeport Elementary School (math 50% / reading 57%, grade C, #949 of 2,144 statewide, top 45%, 1,123 students, 55% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Freeport Senior High School (math 47% / reading 62%, grade C-, #138 of 667 statewide, top 21%, 557 students, 43% FRL).
• Market conditions: Rents rising (+1.4%/yr); 1545 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 162d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 36% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.

Recommended offer $247,796 (17.4% 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 274 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.83% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

• ARV (median comp): $309,301
• List price: $299,850
• Delta: -3.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Huckleberry St	0.24mi	3/2.0	1,487 (+14%)	4mo	$277,391	$187	58
186 Huckleberry St	0.24mi	3/2.0	1,487 (+14%)	7mo	$290,000	$195	55
180 Huckleberry St	0.24mi	3/2.0	1,487 (+14%)	8mo	$269,900	$182	55
234 Parkside St	0.06mi	3/2.0	1,487 (+14%)	17mo	$295,375	$199	55
332 Arrowwood Blvd	0.27mi	3/2.0	1,487 (+14%)	6mo	$290,000	$195	55
428 Arrowwood Blvd	0.19mi	3/2.0	1,487 (+14%)	14mo	$305,000	$205	53
342 Arrowwood Blvd	0.26mi	3/2.5	1,453 (+11%)	18mo	$304,038	$209	52
487 Bluebeech St	0.27mi	3/2.0	1,487 (+14%)	12mo	$305,275	$205	50
181 Huckleberry St	0.35mi	3/2.0	1,487 (+14%)	12mo	$275,900	$186	46
315 Bluebeech St	0.35mi	3/2.0	1,487 (+14%)	14mo	$299,900	$202	45
401 Arrowwood Blvd	0.36mi	3/2.0	1,487 (+14%)	17mo	$293,900	$198	42
16 Parkside St	0.36mi	3/2.0	1,487 (+14%)	17mo	$299,900	$202	42

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 · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.29×
• Total profit: $-59,777
• Equity at exit: $44,709

10-year hold

• IRR: -18.1%
• Equity multiple: 0.08×
• Total profit: $-76,902
• Equity at exit: $25,926

Cash invested: $83,958 (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: 6 active · 1 under contract
• Months of supply: 36.0 mo (3%/mo absorbed)
• Median asking: $303,125 ($214/sqft)
• Median days on market: 193 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +10.7% above current asking $/sqft

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

ZIP-level market 32439

• Home prices YoY: -4.2%
• Rents YoY: 1.4%
• Active inventory: 1545
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,478 high
• Mortgage (P&I): −$1,572
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-115

Break-even live

Break-even rent $2,623

Max offer price $283,267

Occupancy floor 100%

Sensitivity live

Price	-10% $93	-5% $-11	+0% $-115	+5% $-218	+10% $-322
Rent	-10% $-310	-5% $-212	+0% $-115	+5% $-17	+10% $81
Rate	-1.0pp $36	-0.5pp $-38	base $-115	+0.5pp $-192	+1.0pp $-271

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: $74,962
• Closing costs: $8,996
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
80 Silverthorn St Freeport, FL	3.0	2.0	1662	$2,200	$1.32	162d	1	0.22mi
38 Silverthorn St Freeport, FL	3.0	2.0	1813	$2,400	$1.32	7d	1	0.26mi
50 Sedge Cir Freeport, FL	1.0–3.0	1.0–2.0	1156	$2,700	$2.33	10d	1	0.63mi
235 Gray Owl Dr W Freeport, FL	4.0	2.0	1492	$2,500	$1.68	10d	1	1.22mi
585 Claudia Cir Freeport, FL	1.0–3.0	1.0–2.0	1082	$2,040	$1.89	162d	47	1.35mi
585 Claudia Cir Freeport, FL	1.0–3.0	1.0–2.0	1082	$1,980	$1.83	8d	44	1.35mi
593 Alleyoak Ln Freeport, FL	3.0	2.0	1634	$2,600	$1.59	162d	1	1.44mi
530 Alleyoak Ln Defuniak Springs, FL	3.0	2.0	1711	$2,500	$1.46	162d	1	1.46mi

Property features AI

Finance

• HOA & community: Has homeowners associationAssociation includes recreational facilities and master association servicesCommunity features include pool and fishing; minimum rental period applies; short-term rentals not allowed

Exterior

• Parking: Attached garage with 1 garage spaceDriveway parking for 2 vehicles
• Utilities: Public waterPublic sewerUnderground utilities
• Home design: Two-story Craftsman-style homeYear built 2026Zoned for single-family residential
• Construction: Frame construction with cement fiberboard sidingBuilt in 2026
• Exterior features: Community poolSprinkler systemFront porchCovenants and restrictionsLot dimensions approximately 98 x 38Subdivision: OWL'S HEADShort-term rentals not allowed

Interior

• Kitchen: DishwasherGarbage disposalElectric water heater
• Bedrooms: Three bedrooms totalPrimary bedroom on the second floor with trey ceiling
• Flooring: Vinyl flooringCarpet
• Bathrooms: Three full bathrooms
• Heating & cooling: Central heatingCentral air conditioningCeiling fans
• Interior features: Tray ceilingsPull-down attic stairsDouble-pane windows
• Laundry & utility: Electric water heater

Listing history 50 events

1. 2026-11-08
   days on market $299,850 Active 274 DOM
2. 2026-11-07
   days on market $299,850 Active 273 DOM
3. 2026-11-06
   days on market $299,850 Active 272 DOM
4. 2026-11-05
   days on market $299,850 Active 271 DOM
5. 2026-11-04
   days on market $299,850 Active 270 DOM
6. 2026-11-02
   days on market $299,850 Active 268 DOM
7. 2026-11-01
   days on market $299,850 Active 267 DOM
8. 2026-10-31
   days on market $299,850 Active 266 DOM
9. 2026-10-30
   days on market $299,850 Active 265 DOM
10. 2026-10-29
    days on market $299,850 Active 264 DOM
11. 2026-10-28
    days on market $299,850 Active 263 DOM
12. 2026-10-27
    days on market $299,850 Active 262 DOM
13. 2026-10-26
    days on market $299,850 Active 261 DOM
14. 2026-10-25
    days on market $299,850 Active 260 DOM
15. 2026-10-24
    days on market $299,850 Active 259 DOM
16. 2026-10-23
    days on market $299,850 Active 258 DOM
17. 2026-10-22
    days on market $299,850 Active 257 DOM
18. 2026-10-21
    days on market $299,850 Active 256 DOM
19. 2026-10-20
    days on market $299,850 Active 255 DOM
20. 2026-10-19
    days on market $299,850 Active 254 DOM
21. 2026-10-18
    days on market $299,850 Active 253 DOM
22. 2026-10-17
    days on market $299,850 Active 252 DOM
23. 2026-10-16
    days on market $299,850 Active 251 DOM
24. 2026-10-15
    days on market $299,850 Active 250 DOM
25. 2026-10-14
    days on market $299,850 Active 249 DOM
26. 2026-10-13
    days on market $299,850 Active 248 DOM
27. 2026-10-12
    days on market $299,850 Active 247 DOM
28. 2026-10-11
    days on market $299,850 Active 246 DOM
29. 2026-10-10
    days on market $299,850 Active 245 DOM
30. 2026-10-09
    days on market $299,850 Active 244 DOM
31. 2026-10-08
    days on market $299,850 Active 243 DOM
32. 2026-10-07
    days on market $299,850 Active 242 DOM
33. 2026-10-06
    days on market $299,850 Active 241 DOM
34. 2026-10-05
    days on market $299,850 Active 240 DOM
35. 2026-10-04
    days on market $299,850 Active 239 DOM
36. 2026-10-04
    days on market $299,850 Active 238 DOM
37. 2026-10-02
    days on market $299,850 Active 237 DOM
38. 2026-10-01
    days on market $299,850 Active 236 DOM
39. 2026-09-30
    days on market $299,850 Active 235 DOM
40. 2026-09-29
    days on market $299,850 Active 234 DOM
41. 2026-09-28
    days on market $299,850 Active 233 DOM
42. 2026-09-27
    days on market $299,850 Active 232 DOM
43. 2026-09-26
    days on market $299,850 Active 231 DOM
44. 2026-09-25
    days on market $299,850 Active 230 DOM
45. 2026-09-24
    days on market $299,850 Active 229 DOM
46. 2026-09-24
    days on market $299,850 Active 228 DOM
47. 2026-09-22
    days on market $299,850 Active 227 DOM
48. 2026-09-21
    days on market $299,850 Active 226 DOM
49. 2026-09-20
    days on market $299,850 Active 225 DOM
50. 2026-09-18
    days on market $299,850 Active 223 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,736
• − Mortgage interest: −$16,796
• − Property taxes: −$4,498
• − Insurance: −$1,499
• − Repairs & maintenance: −$2,379
• − Management: −$2,379
• − Depreciation: −$8,723
• Taxable loss: −$6,538
• Est. tax savings @ 24.0%: +$1,569
• After-tax cash flow: $194/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with a modern kitchen, good bathrooms, and a well-maintained exterior. It is move-in ready and has the potential for further value increases through landscaping and smart home improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve both the resale and rental value. ↑
• Both Add a smart home system — A smart home system can increase both the resale and rental value by adding modern amenities and convenience. ↑

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary Freeport Elementary School C FL #949/2,144 Nat'l #10,846/41,679 Middle Freeport Middle School B FL #157/571 Nat'l #2,146/14,009 High Freeport Senior High School C- FL #138/667 Nat'l #4,461/17,239

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 68/100

Livability — Freeport

• Score: 68/100
• State rank: #520
• US rank: #9579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, FL
• County: Walton County · 80,014 people
• City population: 15,328
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 15,328
• Household income: $83,227
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 11% 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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 8% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 1%
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 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: ▼ -15.18%
• Current HPI: 350.4692
• Rent YoY: ▲ 1.40%
• 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

Finance

• HOA & community: Has homeowners associationAssociation includes recreational facilities and master association servicesCommunity features include pool and fishing; minimum rental period applies; short-term rentals not allowed

Exterior

• Parking: Attached garage with 1 garage spaceDriveway parking for 2 vehicles
• Utilities: Public waterPublic sewerUnderground utilities
• Home design: Two-story Craftsman-style homeYear built 2026Zoned for single-family residential
• Construction: Frame construction with cement fiberboard sidingBuilt in 2026
• Exterior features: Community poolSprinkler systemFront porchCovenants and restrictionsLot dimensions approximately 98 x 38Subdivision: OWL'S HEADShort-term rentals not allowed

Interior

• Kitchen: DishwasherGarbage disposalElectric water heater
• Bedrooms: Three bedrooms totalPrimary bedroom on the second floor with trey ceiling
• Flooring: Vinyl flooringCarpet
• Bathrooms: Three full bathrooms
• Heating & cooling: Central heatingCentral air conditioningCeiling fans
• Interior features: Tray ceilingsPull-down attic stairsDouble-pane windows
• Laundry & utility: Electric water heater

Price history

+3.1% since first listed

2 events — show timeline

• 2026-02-08 Price Changed $299,850 ECAR
• 2026-02-07 Listed $290,850 ECAR