78 April Ct · Freeport, FL 32439

$200,000

1 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 210 Days on market

Built 1990 0.46 ac lot Est $267k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• Schools +5.2/10.0
• DSCR +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

Key facts

• Huge lot
• 0.46 acre lot
• Built 1990

Tags

• HUGE LOT

Property features AI

Finance

• HOA & community: Subdivision: April Ct

Exterior

• Parking: Has carport; Oversized covered parking
• Utilities: Septic system
• Home design: Mobile Home; Single-story
• Construction: Built in 1990
• Exterior features: Dead-end lot; Within 1/2 mile to water; County and dirt/clay road access; County road frontage; Zoned for single-family residences

Interior

• Bedrooms: 3 bedrooms; Master bedroom on the first floor; All bedrooms on the first floor
• Flooring: Laminate flooring
• Bathrooms: 4 bathrooms (2 full, 2 half)
• Heating & cooling: Central electric AC
• Interior features: Central air conditioning; 5 total rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-66 ($-791/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (29.9% below list).
• Recommended offer: $140k (29.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.0% 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); Freeport Senior High School (math 47% / reading 62%, grade C-, #138 of 667 statewide, top 21%, 557 students, 43% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents rising (+1.4%/yr); 1012 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 210 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $35k; list at $200k implies a 471% 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; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,176 (29.9% 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 210 days. Have you received any prior offers? Is the seller open to a 30% 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: 0.70% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $267,264
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Eckie Dr	0.24mi	2/2.0 (+1)	1,100 (-4%)	2mo	$250,000	$227	70
30 Eckie Dr	0.22mi	2/2.0 (+1)	1,100 (-4%)	3mo	$255,000	$232	70

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: -20.2%
• Equity multiple: 0.30×
• Total profit: $-38,933
• Equity at exit: $29,821

10-year hold

• IRR: -16.7%
• Equity multiple: 0.13×
• Total profit: $-48,567
• Equity at exit: $17,292

Cash invested: $56,000 (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 32439

• Home prices YoY: -4.2%
• Rents YoY: 1.4%
• Active inventory: 1012
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-66

Break-even live

Break-even rent $1,485

Max offer price $188,362

Occupancy floor 100%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
185 Marquis Way Freeport, FL	1.0–3.0	1.0–2.0	1129	$1,484	$1.31	13d	46	1.08mi
266 Emr AVE Freeport, FL	1.0–2.0	1.0–2.0	909	$521	$0.57	13d	5	1.16mi
3495 Sanctuary WAY Melbourne, FL	1.0–3.0	1.0–2.0	1002	$1,599	$1.60	13d	38	1.16mi

Listing history 28 events

1. 2026-06-18
   days on market $200,000 Active 210 DOM
2. 2026-06-17
   days on market $200,000 Active 209 DOM
3. 2026-06-16
   days on market $200,000 Active 208 DOM
4. 2026-06-15
   days on market $200,000 Active 207 DOM
5. 2026-06-14
   days on market $200,000 Active 205 DOM
6. 2026-06-13
   days on market $200,000 Active 204 DOM
7. 2026-06-10
   days on market $200,000 Active 202 DOM
8. 2026-06-09
   days on market $200,000 Active 201 DOM
9. 2026-06-08
   days on market $200,000 Active 200 DOM
10. 2026-06-07
    days on market $200,000 Active 199 DOM
11. 2026-06-05
    days on market $200,000 Active 196 DOM
12. 2026-06-03
    days on market $200,000 Active 195 DOM
13. 2026-06-03
    days on market $200,000 Active 194 DOM
14. 2026-06-01
    days on market $200,000 Active 193 DOM
15. 2026-05-31
    days on market $200,000 Active 192 DOM
16. 2026-05-30
    days on market $200,000 Active 191 DOM
17. 2025-11-20
    listed $200,000 Active
18. 2021-03-04
    soldstatus $35,000 Sold 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

19. 2021-03-04
    soldstatus $35,000 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

20. 2021-02-23
    status Pending 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

21. 2021-02-23
    status Active 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

22. 2021-02-06
    historical 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

23. 2021-01-29
    listed $65,000 Active 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

24. 2021-01-29
    listed $65,000 206-char remark

    Show marketing remark (206 chars)

    Located in the booming area of Freeport, close to schools and main highways. Manufactured home needing TLC. Great opportunity for rental income once renovated. Buyer to verify lot dimensions and acreage.

25. 2004-03-09
    historical
26. 2002-08-20
    listed $79,500
27. 2002-08-20
    listed $79,500
28. 2000-07-13
    listed $82,500

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$1,167/yr (+$97/mo · 236.5%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 21 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: $16,821
• − Mortgage interest: −$11,203
• − Property taxes: −$493
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$5,818
• Taxable loss: −$4,385
• Est. tax savings @ 24.0%: +$1,052
• After-tax cash flow: $262/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 — 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 · 70,839 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: 172.0

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 (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%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 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: ▼ -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

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

+142.4% since first listed

12 events — show timeline

• 2025-11-20 Listed $200,000 ECAR
• 2021-03-04 Sold (MLS) $35,000 NAMLS
• 2021-03-04 Sold (MLS) $35,000 ECAR
• 2021-02-23 Pending — ECAR
• 2021-02-23 Relisted — ECAR
• 2021-02-06 Delisted — ECAR
• 2021-01-29 Listed $65,000 ECAR
• 2021-01-29 Listed $65,000 NAMLS
• 2004-03-09 Listing Removed — NAMLS
• 2002-08-20 Listed $79,500 NAMLS
• 2002-08-20 Listed $79,500 ECAR
• 2000-07-13 Listed $82,500 ECAR

Property tax history

+16.3%/yr

Latest (2025): $493 · -53.1% YoY. Source: county tax records.