25 Caswell Dr · DeFuniak Springs, FL 32435

$146,000

2 bd · 1.0 ba · 560 sqft · Manufactured public records · 3 Days on market

Built 1989 3.97 ac lot

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Why this score? — see what drove the C 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 +17.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +5.2/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located South of I-10 just off of US Hwy 331 S. 3.7 wooded acres with an area for a home already cleared. Property currently has an older mobile home in very poor condition - no value has been given to it. Well and septic are on property. Surrounding properties have new homes being built. Excellant location for a new home or manufactured home. Trees are beautiful with a variety of hardwoods. Being sold as-is.

Key facts

• New stove
• New front porch
• Water pump serviced

Tags

• WOODED ACRES
• MATURE HARDWOOD TREES
• NEW FRONT PORCH
• NEW STOVE
• NEW REFRIGERATOR
• WATER PUMP SERVICED

Property features AI

Finance

• HOA & community: Located in Hidden Valley Ranchettes (unrecorded subdivision)

Exterior

• Utilities: Electric service; Private well water; Septic tank
• Home design: Manufactured home; Single-story
• Construction: Built in 1989
• Exterior features: Level, wooded lot; Paved road access

Interior

• Bedrooms: 2 bedrooms (both on the first floor)
• Bathrooms: 1 full bathroom; Master bathroom (first floor)
• Heating & cooling: Window/unit wall heating; Window unit cooling; Electric water heater
• Interior features: Great room; Cleared interior lot (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $146k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (16.7% below list).
• Recommended offer: $122k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: West Defuniak Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 669 students, 69% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 67% FRL vs 48% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 122 active listings in the ZIP; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k 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 $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 22 sale attempts since 22y 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 $92k; list at $146k implies a 59% 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; major 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 $121,552 (16.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 3.10×
• Total profit: $86,014
• Equity at exit: $131,528

10-year hold

• IRR: 23.2%
• Equity multiple: 7.07×
• Total profit: $247,979
• Equity at exit: $283,646

Cash invested: $40,880 (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 32435

• Home prices YoY: 4.0%
• Active inventory: 122
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$766
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $103

Break-even live

Break-even rent $1,085

Max offer price $146,000

Occupancy floor 87%

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: $36,500
• Closing costs: $4,380
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $146,000 Pending 3 DOM
2. 2026-06-05
   remarks 666-char remark
3. 2026-06-05
   listed $146,000 Active 1 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: $367 · $31/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$845/yr (+$70/mo · 230.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,586
• − Mortgage interest: −$8,178
• − Property taxes: −$367
• − Insurance: −$730
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$4,247
• Taxable loss: −$1,270
• Est. tax savings @ 24.0%: +$305
• After-tax cash flow: $1,543/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

• City population: 19,746
• Population (ZIP): 6,359

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 (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 5% Scottish 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▲ 12.25%
• Current HPI: 314.8146
• 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

+1116.7% since first listed

40 events — show timeline

• 2026-06-03 Listed $146,000 ECAR
• 2022-08-01 Sold (Public Records) $92,000 Public Records
• 2022-07-28 Sold (MLS) $92,000 NAMLS
• 2022-07-28 Sold (MLS) $92,000 ECAR
• 2022-06-30 Pending — ECAR
• 2022-06-30 Pending — NAMLS
• 2022-06-24 Listed $95,000 ECAR
• 2022-06-20 Listed $95,000 NAMLS
• 2017-12-27 Listing Removed — NAMLS
• 2017-06-27 Listed $37,000 NAMLS
• 2017-06-27 Listed $37,000 ECAR
• 2017-03-12 Listing Removed — NAMLS
• 2016-10-29 Listed $37,000 ECAR
• 2016-10-29 Listed $37,000 NAMLS
• 2016-09-05 Listing Removed — NAMLS
• 2015-09-06 Listed $39,700 NAMLS
• 2015-09-06 Listed $39,700 ECAR
• 2013-10-28 Listing Removed — NAMLS
• 2013-04-28 Listed $29,500 NAMLS
• 2010-02-19 Listing Removed — NAMLS
• 2009-08-20 Listed $60,000 NAMLS
• 2009-08-20 Listed $60,000 ECAR
• 2008-11-17 Listing Removed — NAMLS
• 2008-05-21 Listing Removed — NAMLS
• 2007-08-17 Listing Removed — NAMLS
• 2007-08-17 Listed $120,000 NAMLS
• 2007-08-17 Listed $110,000 NAMLS
• 2007-08-17 Listed $110,000 ECAR
• 2007-08-17 Listed $120,000 ECAR
• 2006-02-02 Listing Removed — NAMLS
• 2006-02-01 Listed $130,000 NAMLS
• 2006-02-01 Listed $130,000 ECAR
• 2006-01-03 Listed $130,000 NAMLS
• 2006-01-03 Listed $130,000 ECAR
• 2005-05-05 Sold (Public Records) $71,000 Public Records
• 2005-05-02 Sold (MLS) $71,000 ECAR
• 2005-05-02 Sold (MLS) $71,000 NAMLS
• 2004-12-08 Listed $58,500 ECAR
• 2004-12-08 Listed $58,500 NAMLS
• 1994-01-11 Sold (Public Records) $12,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $367 · +2.0% YoY. Source: county tax records.