395 E Brock Ave · Bonifay, FL 32425

$50,000

2 bd · 1.0 ba · 975 sqft · SingleFamily public records · 46 Days on market

Built 1971 0.25 ac lot ↓ 47% since listing

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Why this score? — see what drove the B+ 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Alert -- Charming 2BR/1BA Rehab Opportunity with Flip Potential! Handy investor special in town of Bonifay -- solid 1 bed, 1 bath footprint ready for a full renovation. Clean layout, strong bones, and a blank canvas to add value with cosmetic upgrades, modern finishes, and smart staging. Ideal for first-time flippers or portfolio builders looking for a quick turnaround and strong ROI. tenants are family related so they are just paying utilities, no monthly rental fees. ($225-$250 for water, sewer, garbage and electric combined). Metal roof is 3 years old. Room measurements are not factual. Needs to be measured / verified

Key facts

• 0.25 acre lot
• Built 1971
• Listed 46 days

Property features AI

Exterior

• Parking: Attached covered carport
• Utilities: Electric service; Public water; Public sewer
• Home design: Single-story home; Architectural style: Other; Built in 1971
• Construction: Metal roof; Aluminum siding; Foundation off grade
• Exterior features: Covered attached carport; Lot approximately 0.25 acre (dimensions 104 x 75); Subdivision: none; Zoned for single-family residential

Interior

• Kitchen: Kitchen located on the first floor; Refrigerator included
• Bedrooms: 2 bedrooms (all on the first floor)
• Bathrooms: 1 full bathroom (first floor)
• Heating & cooling: Window/Wall AC
• Interior features: Window cooling (window/wall units); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($737 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.8% in Bonifay — 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 67/100 on livability (#577 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment 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.
• Zoned schools: Bonifay K-8 School (math 58% / reading 47%, grade C-, #976 of 2,144 statewide, top 46%, 1,192 students, 58% FRL); Holmes County High School (math 22% / reading 50%, grade F, #359 of 667 statewide, top 55%, 453 students, 49% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 141 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 12 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($48k) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. 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.
6. 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.
7. 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: 1.47% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.70%
• DSCR: 1.79
• GRM: 5.7

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: 37.4%
• Equity multiple: 3.89×
• Total profit: $40,411
• Equity at exit: $45,044

10-year hold

• IRR: 32.3%
• Equity multiple: 8.77×
• Total profit: $108,722
• Equity at exit: $97,139

Cash invested: $14,000 (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: 5.7×

Monthly cashflow live

• Estimated rent: $737 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$93 /mo · $1,110/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$155
• Net cashflow: $206

Break-even live

Break-even rent $475

Max offer price $50,000

Occupancy floor 67%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 Hill Loop Bonifay, FL	1.0	1.0	732	$750	$1.02	21d	1	0.87mi
117 Hill Loop Bonifay, FL	1.0	1.0	702	$750	$1.07	21d	1	0.88mi
125 Hill Loop Bonifay, FL	1.0	1.0	532	$700	$1.32	21d	1	0.90mi

Listing history 9 events

1. 2026-06-02
   days on market $50,000 Active 46 DOM
2. 2026-06-01
   days on market $50,000 Active 45 DOM
3. 2026-05-31
   days on market $50,000 Active 44 DOM
4. 2026-05-30
   days on market $50,000 Active 43 DOM
5. 2026-05-16
   price $50,000
6. 2026-05-08
   price $60,000
7. 2026-04-30
   price $73,000
8. 2026-04-22
   price $85,000
9. 2026-04-17
   listed $95,000 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: $1,110 · $93/mo
• Projected year-2 tax: $1,110 · $93/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: $8,841
• − Mortgage interest: −$2,801
• − Property taxes: −$1,110
• − Insurance: −$250
• − Repairs & maintenance: −$707
• − Management: −$707
• − Depreciation: −$1,455
• Taxable income: $1,811
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $2,043/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

-47.4% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $50,000 ECAR
• 2026-05-08 Price Changed $60,000 ECAR
• 2026-04-30 Price Changed $73,000 ECAR
• 2026-04-22 Price Changed $85,000 ECAR
• 2026-04-17 Listed $95,000 ECAR

Property tax history

+17.8%/yr

Latest (2025): $1,110 · +239.3% YoY. Source: county tax records.