164 Waits St · Ebro, FL 32455

$99,990

2 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 34 Days on market

Built 1978 0.52 ac lot Est $95k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +8.2/10.0
• ARV discount +5.3/15.0
• Schools +5.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to a cozy and inviting 2-bedroom, 1-bath single-family home sitting on a generous 0.52-acre lot, offering the perfect blend of comfort, privacy, and outdoor space. Step inside to find a functional and welcoming layout designed for easy living. The home provides a warm atmosphere with just the right amount of space for a small family, a weekend getaway, or even a rental opportunity. What truly sets this property apart is the oversized half-acre lot -- giving you plenty of room to expand, garden, park additional vehicles, or simply enjoy the peace and quiet of country-style living. Whether you're looking to create your own outdoor oasis or need extra space for hobbies and storage, thi

Key facts

• 0.52 acre lot
• Built 1978
• Listed 34 days

Property features AI

Exterior

• Utilities: Electric service
• Home design: Ranch-style, single-story home; Built in 1978
• Construction: Frame construction; Metal roof
• Exterior features: Lot approximately 0.52 acre (150 x 150); Subdivision: NONESUCH WAY; Residential single-family zoning; No pool

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric air conditioning
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#806 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, 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); Freeport Senior High School (math 47% / reading 62%, grade C-, #138 of 667 statewide, top 21%, 557 students, 43% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 66 active listings in the ZIP; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($692 loan paydown + $8k appreciation (8.4% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $65k; list at $100k implies a 54% 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; major 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 $96,990 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
6. 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.
7. 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: 1.32% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.26%
• DSCR: 1.81
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $95,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
164 Waits St	0.00mi	2/1.0	1,272 (0%)	0mo	$95,000	$75	100

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

Projected returns pro-forma

8.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.1%
• Equity multiple: 3.54×
• Total profit: $71,203
• Equity at exit: $79,060

10-year hold

• IRR: 31.0%
• Equity multiple: 7.66×
• Total profit: $186,572
• Equity at exit: $159,982

Cash invested: $27,997 (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 32455

• Home prices YoY: 3.6%
• Active inventory: 66
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $426

Break-even live

Break-even rent $778

Max offer price $99,990

Occupancy floor 63%

Sensitivity live

Price	-10% $483	-5% $454	+0% $426	+5% $398	+10% $369
Rent	-10% $322	-5% $374	+0% $426	+5% $478	+10% $530
Rate	-1.0pp $476	-0.5pp $451	base $426	+0.5pp $400	+1.0pp $374

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: $24,998
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-22
   status Pending
2. 2026-04-28
   status Active
3. 2026-04-03
   listed $99,990 Active
4. 2021-12-14
   historical
5. 2015-07-08
   soldstatus $65,000
6. 2007-03-03
   listed $238,500
7. 1980-10-01
   soldstatus $2,500

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: +$248/yr (+$21/mo · 42.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $15,805
• − Mortgage interest: −$5,601
• − Property taxes: −$582
• − Insurance: −$500
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$2,909
• Taxable income: $3,684
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,227/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 — Ebro

• Score: 60/100
• State rank: #806
• US rank: #18889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,903

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Native American 4% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 8.45%
• Current HPI: 244.4649
• Rent YoY: —
• Metro: —
• 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

+3899.6% since first listed

7 events — show timeline

• 2026-05-22 Pending — ECAR
• 2026-04-28 Relisted — ECAR
• 2026-04-03 Listed $99,990 ECAR
• 2021-12-14 Listing Removed — CPARMLS
• 2015-07-08 Sold (Public Records) $65,000 Public Records
• 2007-03-03 Listed $238,500 CPARMLS
• 1980-10-01 Sold (Public Records) $2,500 Public Records

Property tax history

+20.5%/yr

Latest (2025): $582 · -2.3% YoY. Source: county tax records.