143 W Heather Ave · DeFuniak Springs, FL 32433

$85,000

2 bd · 1.0 ba · 1,076 sqft · Manufactured public records · 148 Days on market

Built 1983 10,018 sqft lot Est $137k · 38% under ↓ 15% since listing

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Are you looking for affordable living in Walton County? Here is the answer you're looking for. This older mobile home has been remodeled by the owner and is move in ready. The home sits on just under 1/4 acre in the Oakwood Hills area. The home is a two-bedroom, one bath, with a bonus room that could easily be transitioned into a nice sized bedroom. The owner had this property as a rental property for years and with no issues with finding renters. The best thing about this property, it is listed under $100K. That is almost unheard of for Walton County property nowadays. The seller is also willing to do owner financing, with a substantial down payment. So whether you are looking for an inve

Key facts

• Bonus room
• Move in ready
• 0.23 acre lot

Tags

• REMODELED MOBILE HOME
• MOVE IN READY
• BONUS ROOM

Property features AI

Finance

• HOA & community: Located in Oakwood Hills Unit 1

Exterior

• Utilities: Private well water; Septic tank; Electric-powered water heater
• Home design: Mobile home style; Single-story; Built in 1983
• Construction: Metal roof
• Exterior features: Level lot; Fully fenced lot; Covered patio; Porch; County road frontage; Paved road access

Interior

• Kitchen: Kitchen on the first floor; Refrigerator
• Bedrooms: 2 bedrooms; Master bedroom on the first floor
• Flooring: Tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Walls are paneled
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.2% 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: Mossy Head School (math 72% / reading 57%, grade B, #525 of 2,144 statewide, top 26%, 439 students, 86% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 39% 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 $9k of equity ($588 loan paydown + $8k 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.00% ✓
• Cap rate: 18.16%
• Cash-on-cash: 42.36%
• DSCR: 2.88
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $136,652
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154 Orange Blossom Ave	0.03mi	3/2.0 (+1)	1,140 (+6%)	17mo	$144,900	$127	66
66 E Orange Blossom Ave	0.22mi	2/2.0	924 (-14%)	2mo	$100,000	$108	61
7992 W US Hwy 90	0.66mi	3/2.0 (+1)	1,020 (-5%)	3mo	$115,000	$113	49
124 E Juniper Ave	0.57mi	3/2.0 (+1)	1,152 (+7%)	16mo	$143,000	$124	40
402 W Royal Palm Ave	0.58mi	3/2.0 (+1)	924 (-14%)	2mo	$119,900	$130	39
223 E Juniper Ave	0.66mi	3/2.0 (+1)	990 (-8%)	10mo	$150,000	$152	38
382 W ROYAL PALM Ave	0.58mi	3/2.0 (+1)	924 (-14%)	3mo	$119,900	$130	38
11 W Lafavre Ln	0.61mi	3/2.0 (+1)	1,140 (+6%)	19mo	$153,000	$134	37
95 E Juniper Ave	0.52mi	3/2.0 (+1)	1,232 (+14%)	12mo	$67,500	$55	33
330 E Clover Ln	0.69mi	3/2.0 (+1)	1,140 (+6%)	21mo	$140,000	$123	32
266 E Laurel Ln	0.70mi	3/2.0 (+1)	1,170 (+9%)	24mo	$179,000	$153	24

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: 57.2%
• Equity multiple: 5.19×
• Total profit: $99,781
• Equity at exit: $76,575

10-year hold

• IRR: 50.7%
• Equity multiple: 11.58×
• Total profit: $251,698
• Equity at exit: $165,136

Cash invested: $23,800 (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 32433

• Home prices YoY: 4.2%
• Active inventory: 423
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $840

Break-even live

Break-even rent $634

Max offer price $85,000

Occupancy floor 45%

Sensitivity live

Price	-10% $888	-5% $864	+0% $840	+5% $816	+10% $792
Rent	-10% $706	-5% $773	+0% $840	+5% $907	+10% $974
Rate	-1.0pp $883	-0.5pp $862	base $840	+0.5pp $818	+1.0pp $796

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Hibiscus Ave Defuniak Springs, FL	3.0	2.0	1256	$1,950	$1.55	22d	1	0.35mi
71 Lafavre Ln Defuniak Springs, FL	2.0	1.0	806	$1,650	$2.05	22d	1	0.49mi
135 Tiger Lily Ln Defuniak Springs, FL	3.0	2.0	1114	$1,795	$1.61	15d	1	0.64mi

Listing history 9 events

1. 2026-04-30
   status Active
2. 2026-03-17
   status Pending
3. 2026-03-11
   status Pending
4. 2026-03-06
   status Active
5. 2026-03-03
   price $85,000
6. 2026-01-07
   price $95,000
7. 2025-11-18
   status Active
8. 2025-09-18
   status Pending
9. 2025-09-09
   listed $99,999 Active

ⓘ 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: $233 · $19/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$472/yr (+$39/mo · 202.4%)

ⓘ 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 9/10 Extreme 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,367
• − Mortgage interest: −$4,761
• − Property taxes: −$233
• − Insurance: −$425
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$2,473
• Taxable income: $9,216
• Est. tax owed @ 24.0%: −$2,212
• After-tax cash flow: $7,871/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

-15.0% since first listed

9 events — show timeline

• 2026-04-30 Relisted — ECAR
• 2026-03-17 Pending — ECAR
• 2026-03-11 Pending — ECAR
• 2026-03-06 Relisted — ECAR
• 2026-03-03 Price Changed $85,000 ECAR
• 2026-01-07 Price Changed $95,000 ECAR
• 2025-11-18 Relisted — ECAR
• 2025-09-18 Pending — ECAR
• 2025-09-09 Listed $99,999 ECAR

Property tax history

+3.6%/yr

Latest (2025): $233 · +1.7% YoY. Source: county tax records.