184 Dockside Rd · Freeport, FL 32439

$302,988

4 bd · 2.0 ba · 1,799 sqft · SingleFamily · 50 Days on market

Built 2026 Good condition Est $356k · 15% under $59/mo HOA · 2% of rent ↓ 9% since listing

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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).

• ARV discount +14.2/15.0
• Cash flow +13.6/30.0
• Schools +5.2/10.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 184 Dockside Road, This spectacular floor plan is a 4-bedroom, 2-bathroom home with a two-car garage. The Cali floor plan features a large covered front porch with space for a sitting area. As you enter this home you will find a long hallway leading to the living area. Two bedrooms are off the entry with a full bathroom in between. Across the hall is a fourth bedroom and large laundry room. The fourth bedroom is a perfect space for a den or even a home office. Continuing down the hall, you will find yourself at an open kitchen with center island, a large dining space and comfortable living area. The primary bedroom is found at the back of the home and features a large bathroom wi

Key facts

• Large bathroom
• Large dining space
• Open kitchen

Tags

• LARGE COVERED FRONT PORCH
• OPEN KITCHEN
• CENTER ISLAND
• LARGE DINING SPACE
• COMFORTABLE LIVING AREA
• LARGE BATHROOM

Property features AI

Finance

• HOA & community: Homeowners association (master association fees apply); Subdivision: Magnolia at the Bluffs Ph 3

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener
• Security: Smoke detectors
• Utilities: Electric service; Public water; Public water source; Electric water heater
• Home design: Contemporary single-story home; Facing information not provided
• Construction: Built in 2026; Vinyl siding and trim; Shingle roof; Building area based on building plan
• Exterior features: Front porch; Interior lot; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bedrooms: 4 bedrooms; Primary suite on the first floor with double vanity, separate shower, and walk-in closet
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; High-efficiency central AC; Electric heat controls
• Interior features: Kitchen island; Pantry; Washer/Dryer hookup; 7 total rooms
• Laundry & utility: Washer/Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $303k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (9.3% below list).
• Recommended offer: $275k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); 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); 1020 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 40% 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 50 days — a 3% lower offer ($294k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major 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 $274,849 (9.3% 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 50 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.91% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $356,202
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
152 Dockside Rd	0.03mi	4/2.0	1,799 (0%)	0mo	$306,383	$170	98
193 Dockside Rd	0.03mi	4/2.0	1,799 (0%)	1mo	$304,466	$169	97
140 Dockside Rd	0.04mi	3/2.0 (-1)	1,641 (-9%)	0mo	$316,761	$193	78
225 Hydrangea Blvd	0.29mi	3/2.0 (-1)	1,848 (+3%)	1mo	$375,000	$203	76
14 Bon Ami Dr	0.21mi	3/2.0 (-1)	1,710 (-5%)	1mo	$359,990	$211	76
10 Bon Ami Dr	0.21mi	3/2.0 (-1)	1,569 (-13%)	0mo	$344,990	$220	64
55 Hydrangea Blvd	0.41mi	3/2.0 (-1)	1,642 (-9%)	1mo	$346,990	$211	60
66 Bonne Vue Cir Lot 96-1	0.57mi	3/2.0 (-1)	1,717 (-5%)	1mo	$357,260	$208	60
692 Alleyoak Ln Lot 33-2	0.58mi	3/2.0 (-1)	1,717 (-5%)	2mo	$332,110	$193	59
114 Bonne Vue Cir Lot 104-1	0.59mi	3/2.0 (-1)	1,901 (+6%)	1mo	$376,436	$198	57
586 Alleyoak Ln Lot 43-2	0.68mi	3/2.0 (-1)	1,717 (-5%)	2mo	$332,110	$193	54
530 Alleyoak Ln Lot 47-2	0.68mi	3/2.0 (-1)	1,711 (-5%)	2mo	$337,096	$197	54

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: -20.7%
• Equity multiple: 0.29×
• Total profit: $-60,099
• Equity at exit: $45,176

10-year hold

• IRR: -18.3%
• Equity multiple: 0.08×
• Total profit: $-77,769
• Equity at exit: $26,197

Cash invested: $84,837 (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: 1020
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,748 high
• Mortgage (P&I): −$1,589
• Tax est. 1.5%: −$379 /mo · $4,545/yr
• Insurance: −$126
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$59
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $-107

Break-even live

Break-even rent $2,884

Max offer price $287,536

Occupancy floor 99%

Sensitivity live

Price	-10% $103	-5% $-2	+0% $-107	+5% $-211	+10% $-316
Rent	-10% $-324	-5% $-215	+0% $-107	+5% $2	+10% $110
Rate	-1.0pp $46	-0.5pp $-30	base $-107	+0.5pp $-185	+1.0pp $-265

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: $75,747
• Closing costs: $9,090
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Hydrangea Blvd Freeport, FL	3.0	2.0	1854	$2,495	$1.35	23d	1	0.30mi
692 Alleyoak Ln Defuniak Springs, FL	3.0	2.0	1776	$2,500	$1.41	23d	1	0.59mi
664 Alleyoak Ln Defuniak Springs, FL	3.0	2.0	1634	$2,600	$1.59	23d	1	0.62mi
530 Alleyoak Ln Defuniak Springs, FL	3.0	2.0	1711	$2,500	$1.46	23d	1	0.69mi
593 Alleyoak Ln Freeport, FL	3.0	2.0	1634	$2,600	$1.59	23d	1	0.70mi
585 Claudia Cir Freeport, FL	1.0–3.0	1.0–2.0	1082	$2,040	$1.89	23d	47	0.80mi
36 Gray Owl Dr E Freeport, FL	4.0	2.0	2108	$2,800	$1.33	23d	1	1.18mi

HOA detail

• Monthly dues: $59 · $708/yr

Listing history 8 events

1. 2026-05-07
   status Pending
2. 2026-05-06
   price $302,988
3. 2026-05-05
   price $299,988
4. 2026-04-22
   price $317,093
5. 2026-04-15
   price $323,661
6. 2026-04-03
   price $320,661
7. 2026-04-01
   price $323,900
8. 2026-03-18
   listed $333,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $32,982
• − Mortgage interest: −$16,972
• − Property taxes: −$4,545
• − Insurance: −$3,017
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − HOA: −$708
• − Depreciation: −$8,814
• Taxable loss: −$6,352
• Est. tax savings @ 24.0%: +$1,524
• After-tax cash flow: $243/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 · 12 photos

Good 80/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from some exterior painting and landscaping improvements to further enhance its value.

Value-add opportunities

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Landscaping improvements — Well-maintained landscaping can attract tenants and increase rental value.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Landscaping improvements — Well-maintained landscaping can attract tenants and increase rental value. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-9.3% since first listed

8 events — show timeline

• 2026-05-07 Pending — ECAR
• 2026-05-06 Price Changed $302,988 ECAR
• 2026-05-05 Price Changed $299,988 ECAR
• 2026-04-22 Price Changed $317,093 ECAR
• 2026-04-15 Price Changed $323,661 ECAR
• 2026-04-03 Price Changed $320,661 ECAR
• 2026-04-01 Price Changed $323,900 ECAR
• 2026-03-18 Listed $333,900 ECAR