63 E Heather Ave · DeFuniak Springs, FL 32433

$140,000

1 bd · 1.0 ba · 600 sqft · SingleFamily · 252 Days on market

Built 2024 10,018 sqft lot Est $132k · 6% over

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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 +10.7/30.0
• Appreciation +10.0/10.0
• Schools +5.2/10.0
• ARV discount +4.8/15.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover tiny home living at its finest! This charming 1 or 2 bedroom cottage proves that good things do come in small packages. Thoughtfully designed for efficiency and comfort, it features a modern mini-split A/C system, a tankless water heater, and cozy front and back porches perfect for morning coffee or evening sunsets. Nestled on a ¼-acre lot, you'll have just enough space for a garden, firepit, or hammock, without the hassle of endless yard work. Enjoy the peace and quiet of country life while being just a quick drive from the powder-white sand beaches of the Emerald Coast. Whether you're looking for a smart rental investment, a minimalist retreat, or a starter home that won't

Key facts

• Quarter-acre lot
• 0.23 acre lot
• Built 2024

Tags

• MODERN MINI-SPLIT A/C SYSTEM
• TANKLESS WATER HEATER
• COZY FRONT AND BACK PORCHES
• QUARTER-ACRE LOT
• GARDEN FIREPIT OR HAMMOCK

Property features AI

Finance

• Other: County-recorded building area
• HOA & community: Subdivision: OAKWOOD HILLS UNIT 1

Exterior

• Utilities: Public water; Septic tank
• Home design: Cabin-style single-story home; Built in 2024; Zoned for mobile home and single-family residential
• Construction: 600 total building area (per county records)
• Exterior features: Located on a county road with dirt/clay access

Interior

• Kitchen: First-floor kitchen
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Central air; Window air conditioning units; Wall/window heating
• Interior features: First-floor living areas
• Laundry & utility: Washer/dryer capability (wall/window heat noted in energy features)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-67 ($-808/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (18.6% below list).
• Recommended offer: $114k (18.6% below list) — sets the bar for 1% rule.

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: Mossy Head School (math 72% / reading 57%, grade B, #525 of 2,144 statewide, top 26%, 439 students, 86% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 75% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 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 $15k of equity ($968 loan paydown + $14k 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 $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,951 (18.6% 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 252 days. Have you received any prior offers? Is the seller open to a 19% 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. 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $132,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
261 W Royal Palm Ave	0.60mi	1/1.0	600 (0%)	3mo	$132,000	$220	69

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: 22.8%
• Equity multiple: 2.84×
• Total profit: $71,979
• Equity at exit: $126,123

10-year hold

• IRR: 20.4%
• Equity multiple: 6.49×
• Total profit: $215,370
• Equity at exit: $271,989

Cash invested: $39,200 (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 32433

• Home prices YoY: 4.2%
• Active inventory: 422
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $-67

Break-even live

Break-even rent $1,225

Max offer price $130,262

Occupancy floor —

Sensitivity live

Price	-10% $29	-5% $-19	+0% $-67	+5% $-116	+10% $-164
Rent	-10% $-157	-5% $-112	+0% $-67	+5% $-22	+10% $23
Rate	-1.0pp $3	-0.5pp $-32	base $-67	+0.5pp $-104	+1.0pp $-140

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $140,000 Active 252 DOM
2. 2026-06-17
   days on market $140,000 Active 251 DOM
3. 2026-06-16
   days on market $140,000 Active 250 DOM
4. 2026-06-15
   days on market $140,000 Active 249 DOM
5. 2026-06-14
   days on market $140,000 Active 247 DOM
6. 2026-06-13
   days on market $140,000 Active 246 DOM
7. 2026-06-10
   days on market $140,000 Active 244 DOM
8. 2026-06-09
   days on market $140,000 Active 243 DOM
9. 2026-06-08
   days on market $140,000 Active 242 DOM
10. 2026-06-07
    days on market $140,000 Active 241 DOM
11. 2026-06-05
    days on market $140,000 Active 238 DOM
12. 2026-06-03
    days on market $140,000 Active 237 DOM
13. 2026-06-03
    days on market $140,000 Active 236 DOM
14. 2026-06-01
    days on market $140,000 Active 235 DOM
15. 2026-05-31
    days on market $140,000 Active 234 DOM
16. 2026-05-30
    days on market $140,000 Active 233 DOM
17. 2025-10-08
    listed $140,000 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $13,674
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$4,073
• Taxable loss: −$3,229
• Est. tax savings @ 24.0%: +$775
• After-tax cash flow: $-33/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

• County: Walton County · 70,839 people
• City population: 19,746
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 19,746
• Household income: $52,199
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 356.0

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 (75%)
• Race & ethnicity: White 75% Black 10% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 14.77%
• Current HPI: 367.046
• Rent YoY: —
• 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

1 event — show timeline

• 2025-10-08 Listed $140,000 ECAR