1210 Jay St · Wright, FL 32547

$225,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 77 Days on market

Built 1961 8,712 sqft lot $312/sqft · 15% above area Est $321k · 30% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property in Paradise Investor Alert!! Add these to your portfolio! 2 cute cottages on 1 parcel! Both homes are occupied by tenants. These have been great rentals through the years. 1 Home is a 2bd/1Ba approx. 720 sq ft and 1 home is a 1 Bd/1Ba approx. 460 sq ft. Live in 1 rent the other! Close to everything the Emerald Coast has to offer. All that is missing is you!

Key facts

• 8,712 sq ft lot
• 7 parking spots
• Built 1961

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-69 ($-829/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (25.8% below list).
• Recommended offer: $167k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.2% in Wright — 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 80/100 on livability (#117 in FL, #1,790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities F.
• Okaloosa (other): math 60% / reading 60% proficiency, ranked #12 of 73 in FL (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.1%/yr); 224 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,268 units permitted in Okaloosa County in 2024 (175 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.
• Okaloosa County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago 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 $46k; list at $225k implies a 395% 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,022 (25.8% 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 77 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 11.2

CMA / ARV

• ARV (median comp): $321,105
• List price: $225,000
• Delta: -29.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.27×
• Total profit: $-45,833
• Equity at exit: $33,548

10-year hold

• IRR: -23.3%
• Equity multiple: -0.03×
• Total profit: $-64,808
• Equity at exit: $19,454

Cash invested: $63,000 (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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 224
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,670 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$115 /mo · $1,379/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-69

Break-even live

Break-even rent $1,758

Max offer price $212,791

Occupancy floor 99%

Sensitivity live

Price	-10% $58	-5% $-5	+0% $-69	+5% $-133	+10% $-196
Rent	-10% $-201	-5% $-135	+0% $-69	+5% $-3	+10% $63
Rate	-1.0pp $44	-0.5pp $-12	base $-69	+0.5pp $-127	+1.0pp $-187

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
830 Cardinal St Fort Walton Beach, FL	2.0	1.0	700	$1,250	$1.79	44d	1	0.29mi
1500 Lewis Turner Blvd Fort Walton Beach, FL	1.0	1.0	718	$1,695	$2.36	44d	1	0.46mi
500 Liberty Ln NW Fort Walton Beach, FL	1.0–3.0	1.0–2.0	967	$2,340	$2.42	14d	14	0.47mi
943 Central Ave Unit C Fort Walton Beach, FL	1.0	1.0	750	$1,200	$1.60	44d	1	0.88mi
5 Mooney Rd NE Fort Walton Beach, FL	1.0–3.0	1.0–2.0	975	$1,472	$1.51	44d	1	1.13mi
731 Lloyd St Fort Walton Beach, FL	1.0	1.0	400	$1,600	$4.00	44d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 77 DOM
2. 2026-06-17
   days on market $225,000 Active 76 DOM
3. 2026-06-16
   days on market $225,000 Active 75 DOM
4. 2026-06-15
   days on market $225,000 Active 74 DOM
5. 2026-06-14
   days on market $225,000 Active 72 DOM
6. 2026-06-13
   days on market $225,000 Active 71 DOM
7. 2026-06-10
   days on market $225,000 Active 69 DOM
8. 2026-06-09
   days on market $225,000 Active 68 DOM
9. 2026-06-08
   days on market $225,000 Active 67 DOM
10. 2026-06-07
    days on market $225,000 Active 66 DOM
11. 2026-06-05
    days on market $225,000 Active 63 DOM
12. 2026-06-02
    days on market $225,000 Active 61 DOM
13. 2026-06-01
    days on market $225,000 Active 60 DOM
14. 2026-05-31
    days on market $225,000 Active 59 DOM
15. 2026-05-30
    days on market $225,000 Active 58 DOM
16. 2026-04-02
    listed $225,000 Active 368-char remark

    Show marketing remark (368 chars)

    Property in Paradise Investor Alert!! Add these to your portfolio! 2 cute cottages on 1 parcel! Both homes are occupied by tenants. These have been great rentals through the years. 1 Home is a 2bd/1Ba approx. 720 sq ft and 1 home is a 1 Bd/1Ba approx. 460 sq ft. Live in 1 rent the other! Close to everything the Emerald Coast has to offer. All that is missing is you!

17. 2004-07-22
    soldstatus $45,500
18. 2004-06-21
    listed $50,000
19. 1981-05-01
    soldstatus $23,000

ⓘ 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: $1,379 · $115/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$489/yr (+$41/mo · 35.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,043
• − Mortgage interest: −$12,603
• − Property taxes: −$1,379
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$6,545
• Taxable loss: −$4,817
• Est. tax savings @ 24.0%: +$1,156
• After-tax cash flow: $327/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: Okaloosa
• NCES district ID: 1201380
• Math proficiency: 60% ▼ -12.00%
• Reading proficiency: 60% ▼ -4.00%
• Median HH income: $55,601
• Composite: 51.62/100
• National rank: #1705
• State rank: #12 of 73 in FL

Livability — Wright

• Score: 80/100
• State rank: #117
• US rank: #1790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wright, FL
• County: Okaloosa County · 194,352 people
• City population: 35,522
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

Population outlook (Okaloosa County) Hauer SSP2

• Today (2025): 235,133 people
• By 2030: 253,483 · +7.8%
• By 2040: 289,537 · +23.1%
• By 2050: 322,954 · +37.3%
• By 2075: 399,624 · +70.0%
• By 2100: 425,311 · +80.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Okaloosa

• 2024 margin: Solid R (+42.4) · D 28.2% · R 70.7% · Other 1.1%
• 2008→2024 swing: +2.5pp toward D · 2008: -44.9pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+39.1 2016: R+47.8 2012: R+49.4 2008: R+44.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

+878.3% since first listed

4 events — show timeline

• 2026-04-02 Listed $225,000 ECAR
• 2004-07-22 Sold (Public Records) $45,500 Public Records
• 2004-06-21 Listed $50,000 ECAR
• 1981-05-01 Sold (Public Records) $23,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,379 · +5.1% YoY. Source: county tax records.