1657 Trout Dr · DeFuniak Springs, FL 32433

$179,888

3 bd · 2.0 ba · 1,114 sqft · SingleFamily · 104 Days on market

Built 2026 6,098 sqft lot Est $201k · 10% under ↓ 13% since listing

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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 +18.5/30.0
• ARV discount +12.1/15.0
• Appreciation +10.0/10.0
• DSCR +5.8/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this NEW Single-Story Home in the Mossy Head Community! The desirable Lanier Plan boasts an open design encompassing the Living and Kitchen spaces. The Kitchen features gorgeous cabinets, quartz countertops, and Stainless-Steel Appliances (including Range with a Microwave hood and Dishwasher). The primary suite has a private bath and a walk-in closet. This Home also includes 2 more bedrooms and a secondary bathroom. Energy-efficient Low-E insulated dual-pane vinyl windows and a one-year limited warranty ensure comfort and peace of mind.

Key facts

• Quartz countertops
• Open design
• Mossy head community

Tags

• SINGLE-STORY HOME
• MOSSY HEAD COMMUNITY
• OPEN DESIGN
• GORGEOUS CABINETS
• QUARTZ COUNTERTOPS
• STAINLESS-STEEL APPLIANCES

Property features AI

Finance

• Financial info: Financial details not provided
• HOA & community: Subdivision: Mossy Head

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Septic tank; Electric water heater
• Home design: Ranch-style, single-story home; Entry level: First floor; Facing direction: Not specified
• Construction: Vinyl siding; Built in 2026
• Exterior features: Paved road access; Paved road surface; Lot dimensions approximately 129 x 50; Zoned for single-family residential

Interior

• Kitchen: Dishwasher; Microwave; Electric water heater
• Bedrooms: 3 bedrooms, master bedroom on the first floor
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heat control
• Interior features: Washer/Dryer hookup; Double pane windows
• Laundry & utility: Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/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 $179k (0.4% below list).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: Mossy Head School (math 72% / reading 57%, grade B, #525 of 2,144 statewide, top 26%, 439 students, 86% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 75% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 41% 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 $19k of equity ($1k loan paydown + $18k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, 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 104 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Recommended offer $163,698 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.00% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $200,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1623 Trout Dr	0.01mi	3/2.0	1,114 (0%)	1mo	$179,888	$161	99
1643 Trout Dr	0.07mi	3/2.0	1,114 (0%)	11mo	$204,990	$184	88
135 E Tiger Lily Ln	0.44mi	3/2.0	1,114 (0%)	2mo	$179,888	$161	78
556 Woodlands Blvd	0.54mi	3/2.0	1,114 (0%)	0mo	$204,990	$184	75
792 Girl Scout Rd	0.48mi	3/2.0	1,114 (0%)	12mo	$192,990	$173	68
196 woodlands Blvd	0.28mi	3/2.0	1,200 (+8%)	12mo	$225,000	$188	64
166 W Honeysuckle St	0.58mi	2/2.0 (-1)	1,105 (-1%)	4mo	$199,000	$180	63
224 E Iris Ln	0.67mi	3/2.0	1,165 (+5%)	1mo	$209,000	$179	60
114 W May Lilly Ct	0.55mi	3/1.0	1,028 (-8%)	5mo	$169,000	$164	53
15 E Tiger Lily Ln	0.38mi	3/2.0	1,272 (+14%)	12mo	$202,990	$160	48
344 Marigold Ave	0.70mi	3/2.0	1,200 (+8%)	10mo	$229,000	$191	46
153 E Honeysuckle St	0.60mi	3/2.0	1,254 (+13%)	6mo	$262,900	$210	46

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: 27.2%
• Equity multiple: 3.16×
• Total profit: $108,930
• Equity at exit: $162,057

10-year hold

• IRR: 23.8%
• Equity multiple: 7.20×
• Total profit: $312,238
• Equity at exit: $349,483

Cash invested: $50,369 (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: 422
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $172

Break-even live

Break-even rent $1,574

Max offer price $179,888

Occupancy floor 85%

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: $44,972
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Tiger Lily Ln Defuniak Springs, FL	3.0	2.0	1114	$1,795	$1.61	13d	1	0.44mi
71 Lafavre Ln Defuniak Springs, FL	2.0	1.0	806	$1,650	$2.05	21d	1	0.91mi
150 Hibiscus Ave Defuniak Springs, FL	3.0	2.0	1256	$1,950	$1.55	21d	1	1.41mi

Listing history 5 events

1. 2026-05-05
   price $179,888
2. 2026-04-28
   price $183,978
3. 2026-04-21
   price $189,888
4. 2026-03-31
   price $194,888
5. 2026-02-12
   listed $205,990 Active

ⓘ 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: $21,491
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$899
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$5,233
• Taxable loss: −$855
• Est. tax savings @ 24.0%: +$205
• After-tax cash flow: $2,265/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

-12.7% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $179,888 ECAR
• 2026-04-28 Price Changed $183,978 ECAR
• 2026-04-21 Price Changed $189,888 ECAR
• 2026-03-31 Price Changed $194,888 ECAR
• 2026-02-12 Listed $205,990 ECAR