209 E North Ave · Bonifay, FL 32425

$69,999

3 bd · 2.0 ba · 1,276 sqft · SingleFamily public records · 159 Days on market

Built 1960 5,968 sqft lot ↓ 1% since listing

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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 +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located in a high-traffic area of a charming small town, this older home in Bonifay offers incredible potential for the buyer with vision. Whether you're looking to create a cozy residence, a professional office, or a mixed-use space, this property provides a solid foundation to make it your own. Inside, you'll find classic character waiting to be revitalized—the perfect canvas for a full remodel or modern redesign. With its flexible layout and excellent visibility, this property is ideal for entrepreneurs, investors, or anyone looking to put their personal touch on a standout location. Outside, the lot provides room for expansion or outdoor improvements, adding even more value to the

Key facts

• Flexible layout
• Room for expansion
• Outdoor improvements

Tags

• FLEXIBLE LAYOUT
• ROOM FOR EXPANSION
• OUTDOOR IMPROVEMENTS

Property features AI

Finance

• Other: Units furnished: None
• Financial info: Annual tax amount reported for 2025
• HOA & community: Short-term rentals allowed

Exterior

• Home design: Mobile home dimensions measured in feet
• Exterior features: Lot dimensions approximately 50 x 130

Interior

• Bedrooms: Three bedrooms on the first floor (two approx. 10 x 12, one approx. 10 x 10)
• Bathrooms: 2 full bathrooms
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 3.8% in Bonifay — 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 67/100 on livability (#577 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Holmes (rural): math 44% / reading 45% proficiency, ranked #53 of 73 in FL (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 141 active listings in the ZIP; 12 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k appreciation (10.0% local appreciation)).
• Holmes County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.71% ✓
• Cap rate: 15.28%
• Cash-on-cash: 32.11%
• DSCR: 2.43
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $215,644
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 N Tracy St	0.30mi	3/2.0	1,209 (-5%)	8mo	$204,000	$169	70
904 N Tracy St	0.30mi	3/2.0	1,209 (-5%)	9mo	$204,900	$169	70
908 N Tracy St	0.29mi	3/2.0	1,209 (-5%)	10mo	$204,000	$169	69
102 Lisenby Dr	0.32mi	3/2.0	1,377 (+8%)	13mo	$225,000	$163	61
206 Northdale Ave	0.56mi	3/2.0	1,440 (+13%)	14mo	$238,000	$165	40
603 W Kansas Ave	0.67mi	2/1.0 (-1)	1,100 (-14%)	6mo	$125,000	$114	32

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: 48.8%
• Equity multiple: 4.65×
• Total profit: $71,510
• Equity at exit: $63,061

10-year hold

• IRR: 42.5%
• Equity multiple: 10.40×
• Total profit: $184,276
• Equity at exit: $135,993

Cash invested: $19,600 (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 32425

• Home prices YoY: 16.2%
• Active inventory: 141
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$26 /mo · $317/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $525

Break-even live

Break-even rent $535

Max offer price $69,999

Occupancy floor 51%

Sensitivity live

Price	-10% $564	-5% $544	+0% $525	+5% $505	+10% $485
Rent	-10% $430	-5% $477	+0% $525	+5% $572	+10% $619
Rate	-1.0pp $560	-0.5pp $542	base $525	+0.5pp $506	+1.0pp $488

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-13
   statusdays on market $69,999 Pending 159 DOM
2. 2026-06-10
   days on market $69,999 Active 157 DOM
3. 2026-06-09
   days on market $69,999 Active 156 DOM
4. 2026-06-08
   days on market $69,999 Active 155 DOM
5. 2026-06-07
   days on market $69,999 Active 154 DOM
6. 2026-06-05
   days on market $69,999 Active 151 DOM
7. 2026-06-02
   days on market $69,999 Active 149 DOM
8. 2026-06-01
   days on market $69,999 Active 148 DOM
9. 2026-05-31
   days on market $69,999 Active 147 DOM
10. 2026-05-30
    days on market $69,999 Active 146 DOM
11. 2026-05-13
    status Active
12. 2026-05-12
    historical
13. 2026-05-01
    status Active
14. 2026-04-09
    status Pending
15. 2026-03-17
    price $69,999
16. 2026-01-22
    price $79,999
17. 2025-12-12
    listed $89,999 Active
18. 2006-07-28
    soldstatus $71,000

ⓘ 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: $317 · $26/mo
• Projected year-2 tax: $581 · $48/mo
• Expected delta: +$264/yr (+$22/mo · 83.2%)

ⓘ 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 8/10 Severe 7 d/yr ≥107°F today · 19 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: $14,388
• − Mortgage interest: −$3,921
• − Property taxes: −$317
• − Insurance: −$350
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$2,036
• Taxable income: $5,461
• Est. tax owed @ 24.0%: −$1,311
• After-tax cash flow: $4,983/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: Holmes
• NCES district ID: 1200900
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $35,365
• Composite: 36.83/100
• National rank: #4558
• State rank: #53 of 73 in FL

Livability — Bonifay

• Score: 67/100
• State rank: #577
• US rank: #10976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,944

Population outlook (Holmes County) Hauer SSP2

• Today (2025): 17,963 people
• By 2030: 17,245 · -4.0%
• By 2040: 15,970 · -11.1%
• By 2050: 14,905 · -17.0%
• By 2075: 12,327 · -31.4%
• By 2100: 9,760 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Holmes

• 2024 margin: Solid R (+80.2) · D 9.7% · R 89.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -65.0pp · 2024: -80.2pp
• All cycles: 2024: R+80.2 2020: R+78.9 2016: R+77.9 2012: R+68.3 2008: R+65.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.87%
• Current HPI: 322.29
• Rent YoY: —
• Metro: —
• 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

-1.4% since first listed

8 events — show timeline

• 2026-05-13 Relisted — CPARMLS
• 2026-05-12 Listing Removed — CPARMLS
• 2026-05-01 Relisted — CPARMLS
• 2026-04-09 Pending — CPARMLS
• 2026-03-17 Price Changed $69,999 CPARMLS
• 2026-01-22 Price Changed $79,999 CPARMLS
• 2025-12-12 Listed $89,999 CPARMLS
• 2006-07-28 Sold (Public Records) $71,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $317 · +7.5% YoY. Source: county tax records.