503 Martin Luther King Junior Ave · Bonifay, FL 32425

$160,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 66 Days on market

Built 1977 0.32 ac lot Est $135k · 19% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.2/30.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0
• ARV discount +0.0/15.0

Listing remarks

INVESTORS!! Space and Opportunity! An addition to your Real Estate Portfolio or perhaps breaking in as a first-time investor this asset has the best ROI and proven track record for residual rental income. Nestled on a substantial amount of private land gives space for opportunity! Create a Legacy with this one-of-a-kind brick home located in Bonifay, FL. Equipped with 3 spacious bedrooms, open living room space and plenty of LAND! Add this income producing asset to your portfolio today!

Key facts

• Private land
• 0.32 acre lot
• 3 parking spots

Tags

• PRIVATE LAND
• ONE-OF-A-KIND BRICK HOME
• INCOME PRODUCING ASSET

Property features AI

Finance

• Other: Pets allowed with no restrictions
• Financial info: No land lease

Exterior

• Parking: 3 parking spaces; Driveway with asphalt and concrete surfaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water available; Sewer available
• Home design: Single family residence; One story; Resale property; Faces south
• Construction: Brick and wood siding exterior; Shingle roof; Built area reported as 1,680 (source: appraiser)
• Exterior features: Room for pool; Landscaped lot; Public maintained road access; Not waterfront

Interior

• Kitchen: Electric range; Electric cooktop; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate; Vinyl; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Ceiling fan(s); Electric cooling
• Interior features: Walk-in closets; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-222 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (30.2% below list).
• Recommended offer: $112k (30.2% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.8% in Bonifay — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $17k of equity ($1k loan paydown + $16k 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.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $19k; list at $160k implies a 751% 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; 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 $111,613 (30.2% 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 66 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.70% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.96%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $135,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 E Evans Ave	0.09mi	2/1.5 (-1)	1,159 (+7%)	8mo	$134,000	$116	70
203 Hubbard Ave	0.23mi	3/1.0	1,036 (-4%)	16mo	$129,000	$125	65
530 E Brock Ave	0.64mi	3/2.0	1,186 (+10%)	19mo	$170,000	$143	38

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: 20.1%
• Equity multiple: 2.63×
• Total profit: $72,996
• Equity at exit: $144,141

10-year hold

• IRR: 18.3%
• Equity multiple: 6.05×
• Total profit: $226,127
• Equity at exit: $310,845

Cash invested: $44,800 (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: 11.9×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$198 /mo · $2,380/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $-222

Break-even live

Break-even rent $1,398

Max offer price $120,724

Occupancy floor —

Sensitivity live

Price	-10% $-132	-5% $-177	+0% $-222	+5% $-268	+10% $-313
Rent	-10% $-311	-5% $-266	+0% $-222	+5% $-178	+10% $-134
Rate	-1.0pp $-142	-0.5pp $-182	base $-222	+0.5pp $-264	+1.0pp $-306

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $160,000 Active 66 DOM
2. 2026-06-17
   days on market $160,000 Active 65 DOM
3. 2026-06-16
   days on market $160,000 Active 64 DOM
4. 2026-06-15
   days on market $160,000 Active 63 DOM
5. 2026-06-14
   days on market $160,000 Active 61 DOM
6. 2026-06-13
   days on market $160,000 Active 60 DOM
7. 2026-06-10
   days on market $160,000 Active 58 DOM
8. 2026-06-09
   days on market $160,000 Active 57 DOM
9. 2026-06-08
   days on market $160,000 Active 56 DOM
10. 2026-06-07
    days on market $160,000 Active 55 DOM
11. 2026-06-05
    days on market $160,000 Active 52 DOM
12. 2026-06-02
    days on market $160,000 Active 50 DOM
13. 2026-06-01
    days on market $160,000 Active 49 DOM
14. 2026-05-31
    days on market $160,000 Active 48 DOM
15. 2026-05-30
    days on market $160,000 Active 47 DOM
16. 2026-04-08
    listed $160,000 Active
17. 2022-01-31
    historical
18. 2021-12-01
    listed $128,800
19. 1978-10-01
    soldstatus $18,800

ⓘ 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: $2,380 · $198/mo
• Projected year-2 tax: $2,380 · $198/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $13,394
• − Mortgage interest: −$8,962
• − Property taxes: −$2,380
• − Insurance: −$800
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$4,655
• Taxable loss: −$5,547
• Est. tax savings @ 24.0%: +$1,331
• After-tax cash flow: $-1,337/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

• Census place: Bonifay, FL
• 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

+751.1% since first listed

4 events — show timeline

• 2026-04-08 Listed $160,000 Beaches MLS
• 2022-01-31 Listing Removed — CPARMLS
• 2021-12-01 Listed $128,800 CPARMLS
• 1978-10-01 Sold (Public Records) $18,800 Public Records

Property tax history

+16.3%/yr

Latest (2025): $2,380 · +18.0% YoY. Source: county tax records.