436 N Us Highway 331 · DeFuniak Springs, FL 32433

$219,900

4 bd · 2.0 ba · 1,456 sqft · Other · 31 Days on market

Built 1972 0.95 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 +13.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

LIKE NEW CONDITION!!!!! This home is a total remodel with AWESOME upgrades. Remodel just completed. Kitchen upgrades include oak cabinets, granite counter tops , breakfast bar, stainless steel sink with Delta lifetime faucet. Brand new stainless steel Frigidaire appliances including ceramic top range, side by side refrigerator with ice & water in door, microwave and dishwasher. Also included is the new high end General Electric washer & dryer! New flooring includes Stainmaster carpet with deluxe padding in living room, family room and all three bedrooms. Traffic master flooring installed in kitchen, Florida room & two bathrooms. Water proof planking in foyer and living room. New A/C in 2016 with upgrades in 2018. New roof in 2016. Plus almost 1 acre of land! Move in Ready!

Key facts

• No restrictions
• 3 lots
• No hoa fees

Tags

• 3 LOTS
• NEARLY 1 ACRE
• NO HOA FEES
• NO RESTRICTIONS
• UPDATED FLOORING
• FRESH INTERIOR PAINT

Property features AI

Finance

• HOA & community: Located in the LAKEVIEW HEIGHTS subdivision

Exterior

• Utilities: Electric service; Public water; Public sewer
• Home design: Ranch-style single-story home; Built in 1972; Irregular lot dimensions; Zoned for city
• Construction: Brick construction; Shingle roof; Slab foundation
• Exterior features: Open deck; Lot is level; Aerials/topographic available; Survey available; Access from paved road and U.S. highway; Paved road surface

Interior

• Kitchen: Dishwasher; Microwave; Breakfast bar
• Bedrooms: 4 bedrooms total; Master bedroom on the first floor
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Breakfast bar; Newly painted; Split-bedroom layout; Living room on the first floor; Kitchen on the first floor; Dining area on the first floor; Florida room on the first floor
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $220k.

Deal economics

• At list price, monthly cash flow is $14 ($170/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 $194k (11.7% below list).
• Recommended offer: $194k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 423 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 45% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k 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 $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, 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 31 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $136k; list at $220k implies a 62% gain — meaningful room to come down on a strong offer.

Recommended offer $194,153 (11.7% below list)

Questions for the listing agent

1. It's been on market 31 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 9.4

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: 24.5%
• Equity multiple: 2.96×
• Total profit: $120,693
• Equity at exit: $198,103

10-year hold

• IRR: 21.7%
• Equity multiple: 6.76×
• Total profit: $354,770
• Equity at exit: $427,217

Cash invested: $61,572 (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: 423
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,942 medium
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $14

Break-even live

Break-even rent $1,924

Max offer price $219,900

Occupancy floor 94%

Sensitivity live

Price	-10% $166	-5% $90	+0% $14	+5% $-62	+10% $-138
Rent	-10% $-139	-5% $-63	+0% $14	+5% $91	+10% $168
Rate	-1.0pp $125	-0.5pp $70	base $14	+0.5pp $-43	+1.0pp $-101

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 Yearling Ct Defuniak Springs, FL	3.0	2.0	1397	$1,895	$1.36	22d	1	1.42mi
51 Yearling Ct Defuniak Springs, FL	3.0	2.0	1397	$1,750	$1.25	14d	1	1.42mi
594 Hunters Ridge Rd Defuniak Springs, FL	3.0	2.0	1654	$1,950	$1.18	14d	1	1.47mi

Listing history 31 events

1. 2026-06-21
   days on market $219,900 Active 31 DOM
2. 2026-06-18
   days on market $219,900 Active 28 DOM
3. 2026-06-17
   days on market $219,900 Active 27 DOM
4. 2026-06-16
   days on market $219,900 Active 26 DOM
5. 2026-06-15
   days on market $219,900 Active 25 DOM
6. 2026-06-14
   days on market $219,900 Active 23 DOM
7. 2026-06-13
   pricedays on market $219,900 Active 22 DOM
8. 2026-06-10
   days on market $229,900 Active 20 DOM
9. 2026-06-09
   days on market $229,900 Active 19 DOM
10. 2026-06-08
    days on market $229,900 Active 18 DOM
11. 2026-06-07
    days on market $229,900 Active 17 DOM
12. 2026-06-05
    days on market $229,900 Active 14 DOM
13. 2026-06-03
    days on market $229,900 Active 13 DOM
14. 2026-06-02
    days on market $229,900 Active 12 DOM
15. 2026-06-01
    days on market $229,900 Active 11 DOM
16. 2026-05-31
    days on market $229,900 Active 10 DOM
17. 2026-05-30
    days on market $229,900 Active 9 DOM
18. 2026-05-21
    listed $234,900 Active
19. 2019-05-07
    soldstatus $136,000
20. 2019-05-02
    soldstatus $136,000 795-char remark

    Show marketing remark (795 chars)

    LIKE NEW CONDITION!!!!! This home is a total remodel with AWESOME upgrades. Remodel just completed. Kitchen upgrades include oak cabinets, granite counter tops , breakfast bar, stainless steel sink with Delta lifetime faucet. Brand new stainless steel Frigidaire appliances including ceramic top range, side by side refrigerator with ice & water in door, microwave and dishwasher. Also included is the new high end General Electric washer & dryer! New flooring includes Stainmaster carpet with deluxe padding in living room, family room and all three bedrooms. Traffic master flooring installed in kitchen, Florida room & two bathrooms. Water proof planking in foyer and living room. New A/C in 2016 with upgrades in 2018. New roof in 2016. Plus almost 1 acre of land! Move in Ready!

21. 2019-05-02
    soldstatus $136,000 795-char remark

    Show marketing remark (795 chars)

    LIKE NEW CONDITION!!!!! This home is a total remodel with AWESOME upgrades. Remodel just completed. Kitchen upgrades include oak cabinets, granite counter tops , breakfast bar, stainless steel sink with Delta lifetime faucet. Brand new stainless steel Frigidaire appliances including ceramic top range, side by side refrigerator with ice & water in door, microwave and dishwasher. Also included is the new high end General Electric washer & dryer! New flooring includes Stainmaster carpet with deluxe padding in living room, family room and all three bedrooms. Traffic master flooring installed in kitchen, Florida room & two bathrooms. Water proof planking in foyer and living room. New A/C in 2016 with upgrades in 2018. New roof in 2016. Plus almost 1 acre of land! Move in Ready!

22. 2019-01-26
    listed $139,900 795-char remark

    Show marketing remark (795 chars)

    LIKE NEW CONDITION!!!!! This home is a total remodel with AWESOME upgrades. Remodel just completed. Kitchen upgrades include oak cabinets, granite counter tops , breakfast bar, stainless steel sink with Delta lifetime faucet. Brand new stainless steel Frigidaire appliances including ceramic top range, side by side refrigerator with ice & water in door, microwave and dishwasher. Also included is the new high end General Electric washer & dryer! New flooring includes Stainmaster carpet with deluxe padding in living room, family room and all three bedrooms. Traffic master flooring installed in kitchen, Florida room & two bathrooms. Water proof planking in foyer and living room. New A/C in 2016 with upgrades in 2018. New roof in 2016. Plus almost 1 acre of land! Move in Ready!

23. 2012-08-13
    soldstatus $115,000
24. 2012-06-05
    historical
25. 2011-02-01
    listed $129,900
26. 2011-02-01
    listed $129,900
27. 2005-01-13
    historical
28. 2004-07-13
    listed $79,500
29. 2004-07-13
    listed $79,500
30. 1995-12-04
    soldstatus $39,000
31. 1977-10-01
    soldstatus $18,650

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

Taxation est. · year 1

• Rental income: $23,298
• − Mortgage interest: −$12,318
• − Property taxes: −$3,298
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$6,397
• Taxable loss: −$3,542
• Est. tax savings @ 24.0%: +$850
• After-tax cash flow: $1,020/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

• Census place: DeFuniak Springs, FL
• 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

+1159.5% since first listed

14 events — show timeline

• 2026-05-21 Listed $234,900 ECAR
• 2019-05-07 Sold (Public Records) $136,000 Public Records
• 2019-05-02 Sold (MLS) $136,000 ECAR
• 2019-05-02 Sold (MLS) $136,000 NAMLS
• 2019-01-26 Listed $139,900 NAMLS
• 2012-08-13 Sold (Public Records) $115,000 Public Records
• 2012-06-05 Listing Removed — NAMLS
• 2011-02-01 Listed $129,900 NAMLS
• 2011-02-01 Listed $129,900 ECAR
• 2005-01-13 Listing Removed — NAMLS
• 2004-07-13 Listed $79,500 NAMLS
• 2004-07-13 Listed $79,500 ECAR
• 1995-12-04 Sold (Public Records) $39,000 Public Records
• 1977-10-01 Sold (Public Records) $18,650 Public Records

Property tax history

-0.3%/yr

Latest (2019): $99 · -0.3% YoY. Source: county tax records.