618 Oakridge Rd · DeFuniak Springs, FL 32433

$240,000

3 bd · 2.0 ba · 1,869 sqft · Manufactured public records · 114 Days on market

Built 2002 0.92 ac lot Est $196k · 22% over

---

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 +7.5/30.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• ARV discount +0.0/15.0

Listing remarks

This beautiful property is located just north of the City of DeFuniak springs. This property blends the convince of the city, with the freedoms afforded with county living. This 3-bedroom, 2-bath home sits on nearly a full acre of land that has been well maintained. Spacious rooms and well laid out floor plan provides plenty of comfortable living space. The property features a detached carport and large shop that totals nearly 1,200 sq feet! Inside the shop you will find water hooked up, electricity, and a working bathroom. The carport area also allows for enough room to park two vehicles, with an additional area, big enough to fit a lawnmower/4wheeler/ or small boat. The backside of the pr

Key facts

• Detached carport
• Working bathroom
• Fenced off

Tags

• DETACHED CARPORT
• LARGE SHOP
• WATER HOOKED UP
• WORKING BATHROOM
• FENCED OFF

Property features AI

Finance

• HOA & community: No recorded subdivision

Exterior

• Parking: Detached carport; 2 carport spaces; 3 covered spaces
• Security: Smoke detectors
• Utilities: Public water; Septic tank; Electric service; Propane gas
• Home design: Manufactured home; Single-story; Built in 2002
• Construction: Metal roof; Vinyl siding; Off-grade foundation
• Exterior features: Partially fenced lot; Porch; Workshop; Level lot; Approximately 299' x 137' lot dimensions; County road frontage on a paved road

Interior

• Kitchen: Microwave
• Bedrooms: 3 bedrooms; Master bedroom on the first floor with carpet and walk-in closet
• Flooring: Carpet in master bedroom
• Bathrooms: 2 full bathrooms; Master bathroom with double vanity, garden tub, and separate shower
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Gas fireplace; 10 total rooms
• Laundry & utility: Laundry room on the first floor; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $240k.

Deal economics

• At list price, monthly cash flow is $-294 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (28.0% below list).
• Recommended offer: $173k (28.0% 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: Maude Saunders Elementary School (math 58% / reading 52%, grade C, #872 of 2,144 statewide, top 42%, 553 students, 87% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL).
• Market conditions: 423 active listings in the ZIP; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 40% 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 $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $10k; list at $240k implies a 2208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $172,686 (28.0% 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 114 days. Have you received any prior offers? Is the seller open to a 28% 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: 0.72% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.26%
• DSCR: 0.77
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $196,245
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
775 Oakridge Rd	0.16mi	3/2.0	1,904 (+2%)	11mo	$185,000	$97	80
362 Schubert Cir	0.41mi	3/2.0	1,707 (-9%)	2mo	$180,000	$105	65
563 W Bach Dr	0.36mi	3/2.0	1,620 (-13%)	8mo	$220,000	$136	54

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: 20.6%
• Equity multiple: 2.67×
• Total profit: $111,988
• Equity at exit: $216,211

10-year hold

• IRR: 18.7%
• Equity multiple: 6.13×
• Total profit: $344,582
• Equity at exit: $466,267

Cash invested: $67,200 (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: 423
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,727 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-294

Break-even live

Break-even rent $2,099

Max offer price $197,405

Occupancy floor —

Sensitivity live

Price	-10% $-129	-5% $-211	+0% $-294	+5% $-377	+10% $-460
Rent	-10% $-431	-5% $-363	+0% $-294	+5% $-226	+10% $-158
Rate	-1.0pp $-174	-0.5pp $-233	base $-294	+0.5pp $-357	+1.0pp $-420

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $240,000 Active 114 DOM
2. 2026-06-18
   days on market $240,000 Active 111 DOM
3. 2026-06-17
   days on market $240,000 Active 110 DOM
4. 2026-06-16
   days on market $240,000 Active 109 DOM
5. 2026-06-15
   days on market $240,000 Active 108 DOM
6. 2026-06-14
   days on market $240,000 Active 106 DOM
7. 2026-06-13
   days on market $240,000 Active 105 DOM
8. 2026-06-10
   days on market $240,000 Active 103 DOM
9. 2026-06-09
   days on market $240,000 Active 102 DOM
10. 2026-06-08
    days on market $240,000 Active 101 DOM
11. 2026-06-07
    days on market $240,000 Active 100 DOM
12. 2026-06-05
    days on market $240,000 Active 97 DOM
13. 2026-06-03
    days on market $240,000 Active 96 DOM
14. 2026-06-03
    days on market $240,000 Active 95 DOM
15. 2026-06-01
    days on market $240,000 Active 94 DOM
16. 2026-05-31
    days on market $240,000 Active 93 DOM
17. 2026-05-30
    days on market $240,000 Active 92 DOM
18. 2026-04-29
    status Active
19. 2026-04-29
    price $240,000
20. 2026-03-24
    status Pending
21. 2026-01-22
    listed $250,000 Active
22. 2025-06-25
    listed $285,000 Active
23. 1999-03-05
    soldstatus $10,400

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $20,722
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$6,982
• Taxable loss: −$7,819
• Est. tax savings @ 24.0%: +$1,877
• After-tax cash flow: $-1,656/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

+2207.7% since first listed

6 events — show timeline

• 2026-04-29 Relisted — ECAR
• 2026-04-29 Price Changed $240,000 ECAR
• 2026-03-24 Pending — ECAR
• 2026-01-22 Listed $250,000 ECAR
• 2025-06-25 Listed $285,000 ECAR
• 1999-03-05 Sold (Public Records) $10,400 Public Records

Property tax history

-2.5%/yr

Latest (2025): $230 · +3.7% YoY. Source: county tax records.