284 North Sand Palm · Freeport, FL 32439

$220,000

3 bd · 2.5 ba · 1,471 sqft · Townhouse · 187 Days on market

Built 2021 Est $228k · at est. $125/mo HOA · 6% of rent ↓ 3% since listing

---

Why this score? — see what drove the D 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 +11.7/30.0
• ARV discount +9.1/15.0
• Schools +5.2/10.0
• 1% rule +4.1/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable 3BR / 2.5 BA open floor plan that backs up to the woods for privacy! Priced competitively with LOW HOA and desirable amenities. This townhome offers exceptional value and flexibility designed for easy, low-maintenance living. Looking for an investment opportunity? This home is currently tenant-occupied and income-producing, offering instant cash flow for its next owner. Located within a very well-maintained community, residents enjoy desirable amenities including a pool, pickleball and basketball courts, and a playground. Unit is occupied by Renters. Text or call Vanessa at 917-410-5388. Minimum 24-hour notice required for all showings. Inside, the open-concept layout creates a s

Key facts

• Quartz countertops
• Spacious back porch
• Wooded back views

Tags

• WOODED BACK VIEWS
• OPEN-CONCEPT FLOOR PLAN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR
• SPACIOUS BACK PORCH

Property features AI

Finance

• Other: Zoned for multi-family residential; Building area recorded from county records
• HOA & community: Homes association present; Association maintains grounds, management, and trash; Community pool; Dumpster on site; Pets allowed; Pickleball; Short-term rentals not allowed; TV cable available

Exterior

• Parking: 1 assigned parking space
• Security: Smoke detector(s)
• Utilities: Electric service; Public water; Public sewer; TV cable
• Home design: Townhome; 2 stories; Built in 2021
• Construction: Concrete construction; Wood trim; Fiber cement/engineered siding; Pitched metal roof; Built in 2021
• Exterior features: Open patio; Sprinkler system; Sidewalk; City street frontage; Paved road access

Interior

• Kitchen: Disposal; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms; Master bedroom on second level with shower-only master bathroom
• Flooring: Laminate
• Bathrooms: 3 total bathrooms (2 full, 1 half)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Breakfast bar; Crown molding; Newly painted; Washer/dryer hookup; Window treatments
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $220k.

Deal economics

• At list price, monthly cash flow is $-63 ($-759/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (9.0% below list).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).

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 187 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 13233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $193,600 (12.0% 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 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $228,005
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Date Palm Ln #220	0.14mi	3/2.5	1,471 (0%)	1mo	$205,000	$139	93
304 Date Palm Ln	0.10mi	3/2.5	1,512 (+3%)	1mo	$234,900	$155	90
304 Date Palm Ln Unit Horizon	0.10mi	3/2.5	1,512 (+3%)	1mo	$234,900	$155	90
113 Date Palm Ln	0.10mi	3/2.5	1,484 (+1%)	6mo	$260,000	$175	89
392 N Sand Palm Rd	0.11mi	3/2.5	1,426 (-3%)	2mo	$230,000	$161	88
23 S Sand Palm Rd	0.23mi	3/2.5	1,454 (-1%)	1mo	$210,000	$144	87
320 N Sand Palm	0.05mi	3/2.0	1,396 (-5%)	2mo	$210,000	$150	85
16 S Sand Palm Rd	0.21mi	3/2.5	1,426 (-3%)	1mo	$210,000	$147	84
17 S Sand Palm Rd	0.23mi	3/2.5	1,426 (-3%)	1mo	$218,500	$153	84
22 N Sand Palm Rd #15	0.22mi	3/2.5	1,529 (+4%)	1mo	$220,000	$144	82
43 N Sand Palm Rd	0.20mi	3/2.5	1,396 (-5%)	9mo	$234,000	$168	75
179 N Sand Palm Rd #179	0.09mi	3/2.5	1,336 (-9%)	12mo	$234,500	$176	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -20.2%
• Equity multiple: 0.31×
• Total profit: $-42,745
• Equity at exit: $32,803

10-year hold

• IRR: -17.5%
• Equity multiple: 0.11×
• Total profit: $-54,585
• Equity at exit: $19,022

Cash invested: $61,600 (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: $2,003 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$125
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-63

Break-even live

Break-even rent $2,083

Max offer price $210,846

Occupancy floor 98%

Sensitivity live

Price	-10% $89	-5% $13	+0% $-63	+5% $-139	+10% $-215
Rent	-10% $-221	-5% $-142	+0% $-63	+5% $16	+10% $95
Rate	-1.0pp $48	-0.5pp $-7	base $-63	+0.5pp $-120	+1.0pp $-178

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
259 N Sand Palm Rd Freeport, FL	3.0	2.5	1336	$1,600	$1.20	22d	1	0.04mi
246 N Sand Palm Rd Freeport, FL	3.0	2.5	1471	$1,650	$1.12	22d	1	0.05mi
156 Date Palm Ln Freeport, FL	3.0	2.5	1432	$2,300	$1.61	22d	1	0.08mi
151 Date Palm Ln Freeport, FL	3.0	2.5	1484	$1,775	$1.20	15d	1	0.10mi
147 N Sand Palm Rd Freeport, FL	3.0	2.5	1471	$1,595	$1.08	22d	1	0.13mi
76 N Sand Palm Rd Freeport, FL	2.0	3.0	1128	$1,450	$1.29	22d	1	0.22mi
15284 U.S. 331 Business Freeport, FL	2.0	3.0	1106	$1,400	$1.27	22d	1	0.25mi
15031 U.S. 331 Business Unit 104 Freeport, FL	3.0	2.0	1007	$1,800	$1.79	22d	1	0.36mi
15031 U.S. 331 Business Unit 117 Freeport, FL	3.0	2.0	1007	$1,700	$1.69	22d	1	0.36mi
15 Oakfield Dr Freeport, FL	3.0	2.0	1531	$2,350	$1.53	15d	1	0.54mi
832 Whispering Creek Ave Freeport, FL	4.0	2.0	1398	$2,175	$1.56	22d	1	0.76mi
178 Whispering Creek Ave Freeport, FL	3.0	2.0	1706	$2,550	$1.49	22d	1	0.89mi
70 Jakes Way Freeport, FL	3.0	2.0	1500	$2,100	$1.40	22d	1	0.93mi
266 Emr AVE Freeport, FL	1.0–2.0	1.0–2.0	909	$985	$1.08	15d	5	0.94mi
3495 Sanctuary WAY Melbourne, FL	1.0–3.0	1.0–2.0	1002	$2,412	$2.41	15d	38	0.97mi
255 N Jackson St Freeport, FL	3.0	2.0	1456	$2,100	$1.44	22d	1	1.03mi
2 Polk St Freeport, FL	3.0	2.0	1155	$1,550	$1.34	22d	1	1.15mi
245 Pine St Freeport, FL	3.0	2.0	1368	$2,000	$1.46	22d	1	1.20mi
51 S Main Deck Dr Freeport, FL	3.0	2.5	1500	$2,095	$1.40	22d	1	1.30mi
47 S Main Deck Dr Unit 1 Freeport, FL	3.0	2.5	1459	$2,000	$1.37	22d	1	1.30mi
41 S Main Deck Dr Unit 1 Freeport, FL	3.0	2.5	1500	$2,195	$1.46	22d	1	1.31mi
103 Bradford Ct Freeport, FL	3.0	2.0	1713	$2,095	$1.22	15d	1	1.49mi

HOA detail

• Monthly dues: $125 · $1,500/yr
• Likely covers: pool

Listing history 24 events

1. 2026-06-21
   days on market $220,000 Active 187 DOM
2. 2026-06-18
   days on market $220,000 Active 184 DOM
3. 2026-06-17
   days on market $220,000 Active 183 DOM
4. 2026-06-16
   days on market $220,000 Active 182 DOM
5. 2026-06-15
   days on market $220,000 Active 181 DOM
6. 2026-06-14
   days on market $220,000 Active 179 DOM
7. 2026-06-13
   days on market $220,000 Active 178 DOM
8. 2026-06-10
   days on market $220,000 Active 176 DOM
9. 2026-06-09
   days on market $220,000 Active 175 DOM
10. 2026-06-08
    days on market $220,000 Active 174 DOM
11. 2026-06-07
    days on market $220,000 Active 173 DOM
12. 2026-06-05
    days on market $220,000 Active 170 DOM
13. 2026-06-03
    days on market $220,000 Active 169 DOM
14. 2026-06-03
    days on market $220,000 Active 168 DOM
15. 2026-06-01
    days on market $220,000 Active 167 DOM
16. 2026-05-31
    days on market $220,000 Active 166 DOM
17. 2026-05-30
    days on market $220,000 Active 165 DOM
18. 2026-05-05
    historical $1,650
19. 2026-04-02
    listed $1,650
20. 2026-04-02
    historical $1,650
21. 2026-03-25
    price $220,000
22. 2025-12-16
    listed $229,000 Active
23. 2025-11-21
    price $1,650
24. 2025-09-24
    listed $1,700

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 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: $24,032
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,923
• − Management: −$1,923
• − HOA: −$1,500
• − Depreciation: −$6,400
• Taxable loss: −$4,437
• Est. tax savings @ 24.0%: +$1,065
• After-tax cash flow: $306/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

-2.9% since first listed

7 events — show timeline

• 2026-05-05 Rental Removed $1,650 ECAR
• 2026-04-02 Listed for Rent $1,650 ECAR
• 2026-04-02 Rental Removed $1,650 ECAR
• 2026-03-25 Price Changed $220,000 ECAR
• 2025-12-16 Listed $229,000 ECAR
• 2025-11-21 Price Changed $1,650 ECAR
• 2025-09-24 Listed for Rent $1,700 ECAR