280 Meteyard Ln · DeFuniak Springs, FL 32433

$159,000

3 bd · 2.0 ba · 864 sqft · Manufactured public records · 137 Days on market

Built 2006 0.46 ac lot Est $112k · 42% over ↓ 12% 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 +26.8/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• 1% rule +5.9/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

2BR/1BA manufactured home on an oversized 0.46-acre homesite in DeFuniak Springs, comprised of two 0.23-acre lots. Built in 2006 with an efficient 864 SF layout and over $45K in upgrades completed in 2024, including commercial-grade LVP flooring, a mini-split system, deck, galvanized metal roof, gutters, and a new septic system. Outside features include a carport with additional covered parking, multiple sheds, and a workshop with power, ideal for projects or extra storage. The second 0.23-acre lot includes a septic tank and existing public water and electric hookups already in place, making it perfect for RV parking, future use, or potential resale. Seller will remove the shipping containe

Key facts

• Multiple sheds
• Oversized homesite
• Mini-split system

Tags

• OVERSIZED HOMESITE
• COMMERCIAL-GRADE LVP FLOORING
• MINI-SPLIT SYSTEM
• GALVANIZED METAL ROOF
• MULTIPLE SHEDS
• WORKSHOP WITH POWER

Property features AI

Finance

• HOA & community: Subdivision: OAKWOOD HILLS UNIT 1

Exterior

• Parking: Detached covered carport; 3 covered parking spaces
• Utilities: Public water; Septic tank; Electric service; Phone service
• Home design: Manufactured home; 1 story; Built in 2006; Zoned for single family residential; Facing direction not specified
• Construction: Vinyl siding; Metal roof; Foundation details not specified
• Exterior features: Rain gutters; Covered deck; Open deck; Workshop on property; Cleared lot; Survey available; County road frontage; Access via county and dirt/clay roads

Interior

• Kitchen: Freezer; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (all on the first level)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit(s) for cooling; Wall/window heating; Electric water heater
• Interior features: Washer/dryer hookup; Window/wall heating and cooling indicated (window units for cooling)
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: West Defuniak Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 669 students, 69% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 423 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 40% 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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($140k) 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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. 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: 1.09% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.67%
• DSCR: 1.52
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $112,320
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 W Royal Palm Ave	0.24mi	2/2.0 (-1)	858 (-1%)	8mo	$74,000	$86	76
25 Lafavre Ln	0.15mi	2/2.0 (-1)	820 (-5%)	12mo	$121,900	$149	69
402 W Royal Palm Ave	0.61mi	3/2.0	924 (+7%)	2mo	$119,900	$130	59
382 W ROYAL PALM Ave	0.61mi	3/2.0	924 (+7%)	3mo	$119,900	$130	57
66 E Orange Blossom Ave	0.65mi	2/2.0 (-1)	924 (+7%)	2mo	$100,000	$108	52
61 Juniper Ave	0.56mi	2/2.0 (-1)	784 (-9%)	4mo	$20,000	$26	50
19 Oleander Ave	0.61mi	2/2.0 (-1)	896 (+4%)	21mo	$150,000	$167	43
18 Orange Blossom Ave	0.59mi	2/1.0 (-1)	888 (+3%)	19mo	$55,000	$62	43

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: 32.8%
• Equity multiple: 3.56×
• Total profit: $114,102
• Equity at exit: $143,240

10-year hold

• IRR: 28.3%
• Equity multiple: 8.06×
• Total profit: $314,173
• Equity at exit: $308,902

Cash invested: $44,520 (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: 423
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,731 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $433

Break-even live

Break-even rent $1,182

Max offer price $159,000

Occupancy floor 70%

Sensitivity live

Price	-10% $523	-5% $478	+0% $433	+5% $388	+10% $343
Rent	-10% $296	-5% $365	+0% $433	+5% $501	+10% $570
Rate	-1.0pp $513	-0.5pp $473	base $433	+0.5pp $392	+1.0pp $350

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Lafavre Ln Defuniak Springs, FL	2.0	1.0	806	$1,650	$2.05	23d	1	0.06mi
135 Tiger Lily Ln Defuniak Springs, FL	3.0	2.0	1114	$1,795	$1.61	15d	1	0.55mi

Listing history 19 events

1. 2026-06-21
   days on market $159,000 Active 137 DOM
2. 2026-06-18
   days on market $159,000 Active 134 DOM
3. 2026-06-17
   days on market $159,000 Active 133 DOM
4. 2026-06-16
   days on market $159,000 Active 132 DOM
5. 2026-06-15
   days on market $159,000 Active 131 DOM
6. 2026-06-14
   days on market $159,000 Active 129 DOM
7. 2026-06-13
   days on market $159,000 Active 128 DOM
8. 2026-06-10
   days on market $159,000 Active 126 DOM
9. 2026-06-09
   days on market $159,000 Active 125 DOM
10. 2026-06-08
    days on market $159,000 Active 124 DOM
11. 2026-06-07
    days on market $159,000 Active 123 DOM
12. 2026-06-05
    days on market $159,000 Active 120 DOM
13. 2026-06-03
    days on market $159,000 Active 119 DOM
14. 2026-06-03
    days on market $159,000 Active 118 DOM
15. 2026-06-01
    days on market $159,000 Active 117 DOM
16. 2026-05-31
    days on market $159,000 Active 116 DOM
17. 2026-05-30
    days on market $159,000 Active 115 DOM
18. 2026-04-07
    price $159,000
19. 2026-02-04
    listed $180,000 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: $408 · $34/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$911/yr (+$76/mo · 223.3%)

ⓘ 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 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $20,767
• − Mortgage interest: −$8,906
• − Property taxes: −$408
• − Insurance: −$795
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,625
• Taxable income: $2,709
• Est. tax owed @ 24.0%: −$650
• After-tax cash flow: $4,547/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

-11.7% since first listed

2 events — show timeline

• 2026-04-07 Price Changed $159,000 ECAR
• 2026-02-04 Listed $180,000 ECAR

Property tax history

+16.7%/yr

Latest (2025): $408 · +444.3% YoY. Source: county tax records.