42 Cypress Ln · Freeport, FL 32439

$240,500

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 318 Days on market

Built 2003 1.19 ac lot

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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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +5.2/10.0
• 1% rule +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming home featuring 3 bedrooms and 2 full bathrooms, nestled on a generously sized lot 1,1 ac. Step into a spacious living room complete with a cozy fireplace- perfect for relaxing evenings. The open dining area flows into a well appointed kitchen with a breakfast nook ideal for casual meals. Enjoy outdoor living at its finest with a large, covered front porch- great for morning coffee- and a spacious open deck in the back for entertaining family and friends. Move in ready and conveniently located!

Key facts

• Covered front porch
• Spacious open deck
• Cozy fireplace

Tags

• COZY FIREPLACE
• COVERED FRONT PORCH
• SPACIOUS OPEN DECK

Property features AI

Finance

• HOA & community: Subdivision: MAGNOLIA LANDING

Exterior

• Parking: Driveway access (county/paved road frontage)
• Utilities: Public water; Public sewer; Electric service available; Phone service available
• Home design: Mobile home; Single-story; Built in 2003
• Construction: Vinyl siding; Composite shingle roof
• Exterior features: Open deck; Porch (covered porch listed); Interior lot; Paved county road access

Interior

• Kitchen: Dishwasher; Garbage disposal; Range hood; Refrigerator; Pantry
• Bedrooms: 3 bedrooms; Master bedroom with tile shower and double vanity
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms; Master bath with shower and tile
• Heating & cooling: Central heating; Central electric cooling; Ceiling fans; Electric heat control
• Interior features: Fireplace; Recently painted; Pantry; Washer/dryer hookup; Central air; Ceiling fans
• Laundry & utility: Washer and dryer included (washer, dryer listed); Washer/dryer hookup; Gas 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 $292 ($4k/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 $218k (9.5% below list).
• Recommended offer: $212k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.0% in Freeport — 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 68/100 on livability (#520 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, amenities F, commute 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: Freeport Elementary School (math 50% / reading 57%, grade C, #949 of 2,144 statewide, top 45%, 1,123 students, 55% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Freeport Senior High School (math 47% / reading 62%, grade C-, #138 of 667 statewide, top 21%, 557 students, 43% FRL).
• Market conditions: Rents rising (+1.4%/yr); 1020 active listings in the ZIP; solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 31% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 318 days — a 12% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 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 $125k; list at $240k implies a 92% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 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. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-23,957
• Equity at exit: $35,859

10-year hold

• IRR: -2.6%
• Equity multiple: 0.84×
• Total profit: $-11,102
• Equity at exit: $20,794

Cash invested: $67,340 (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 32439

• Home prices YoY: -4.2%
• Rents YoY: 1.4%
• Active inventory: 1020
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,177 medium
• Mortgage (P&I): −$1,261
• Tax from tax record: −$67 /mo · $805/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $292

Break-even live

Break-even rent $1,808

Max offer price $240,500

Occupancy floor 82%

Sensitivity live

Price	-10% $428	-5% $360	+0% $292	+5% $224	+10% $156
Rent	-10% $120	-5% $206	+0% $292	+5% $378	+10% $464
Rate	-1.0pp $413	-0.5pp $353	base $292	+0.5pp $229	+1.0pp $166

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: $60,125
• Closing costs: $7,215
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $240,500 Active 318 DOM
2. 2026-06-18
   days on market $240,500 Active 315 DOM
3. 2026-06-17
   days on market $240,500 Active 314 DOM
4. 2026-06-16
   days on market $240,500 Active 313 DOM
5. 2026-06-15
   days on market $240,500 Active 312 DOM
6. 2026-06-14
   days on market $240,500 Active 310 DOM
7. 2026-06-13
   days on market $240,500 Active 309 DOM
8. 2026-06-10
   days on market $240,500 Active 307 DOM
9. 2026-06-09
   days on market $240,500 Active 306 DOM
10. 2026-06-08
    days on market $240,500 Active 305 DOM
11. 2026-06-07
    days on market $240,500 Active 304 DOM
12. 2026-06-05
    days on market $240,500 Active 301 DOM
13. 2026-06-03
    days on market $240,500 Active 300 DOM
14. 2026-06-03
    days on market $240,500 Active 299 DOM
15. 2026-06-01
    days on market $240,500 Active 298 DOM
16. 2026-05-31
    days on market $240,500 Active 297 DOM
17. 2026-05-30
    days on market $240,500 Active 296 DOM
18. 2026-03-05
    status Active
19. 2025-10-12
    price $240,500
20. 2025-08-07
    listed $245,500 Active
21. 2021-08-24
    soldstatus $125,000
22. 2003-07-02
    soldstatus $86,600

ⓘ 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: $805 · $67/mo
• Projected year-2 tax: $1,996 · $166/mo
• Expected delta: +$1,191/yr (+$99/mo · 147.9%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,129
• − Mortgage interest: −$13,472
• − Property taxes: −$805
• − Insurance: −$1,202
• − Repairs & maintenance: −$2,090
• − Management: −$2,090
• − Depreciation: −$6,996
• Taxable loss: −$527
• Est. tax savings @ 24.0%: +$127
• After-tax cash flow: $3,626/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 — Freeport

• Score: 68/100
• State rank: #520
• US rank: #9579

Category grades

Amenities F Commute F Cost of living B Crime A+ Employment B+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, FL
• County: Walton County · 70,839 people
• City population: 15,328
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 15,328
• Household income: $83,227
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 172.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 8% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 1%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 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: ▼ -15.18%
• Current HPI: 350.4692
• Rent YoY: ▲ 1.40%
• 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

+177.7% since first listed

5 events — show timeline

• 2026-03-05 Relisted — ECAR
• 2025-10-12 Price Changed $240,500 ECAR
• 2025-08-07 Listed $245,500 ECAR
• 2021-08-24 Sold (Public Records) $125,000 Public Records
• 2003-07-02 Sold (Public Records) $86,600 Public Records

Property tax history

+6.4%/yr

Latest (2025): $805 · -6.7% YoY. Source: county tax records.