8094 Highway 393 · Laurel Hill, FL 32567

$49,000

3 bd · 2.0 ba · 1,452 sqft · SingleFamily public records · 74 Days on market

Built 1961 9,583 sqft lot $34/sqft · 77% below area ↓ 55% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.5/10.0

Listing remarks MLS

Investment Opportunity! This 3 bedroom 2 bath home needs to be renovated but priced with plenty of upside. Deep well. Paved road access. Great proximity. Cash only.

Key facts

• Deep well
• Great proximity
• Paved road access

Tags

• DEEP WELL
• PAVED ROAD ACCESS
• GREAT PROXIMITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• Cap rate 33.2% vs local median 3.5% in Laurel Hill — 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 62/100 on livability (#759 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime 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: 114 active listings in the ZIP; 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 $339 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.74% ✓
• Cap rate: 33.20%
• Cash-on-cash: 96.10%
• DSCR: 5.28
• GRM: 2.2

CMA / ARV

• ARV (median comp): $212,020
• List price: $49,000
• Delta: -76.89%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 97.0%
• Equity multiple: 5.52×
• Total profit: $62,077
• Equity at exit: $7,306

10-year hold

• IRR: 99.7%
• Equity multiple: 11.52×
• Total profit: $144,308
• Equity at exit: $4,237

Cash invested: $13,720 (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 32567

• Home prices YoY: -2.9%
• Active inventory: 114
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,833 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $1,099

Break-even live

Break-even rent $442

Max offer price $49,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,127	-5% $1,113	+0% $1,099	+5% $1,085	+10% $1,071
Rent	-10% $954	-5% $1,026	+0% $1,099	+5% $1,171	+10% $1,244
Rate	-1.0pp $1,123	-0.5pp $1,111	base $1,099	+0.5pp $1,086	+1.0pp $1,073

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $49,000 Active 74 DOM
2. 2026-06-18
   days on market $49,000 Active 71 DOM
3. 2026-06-17
   days on market $49,000 Active 70 DOM
4. 2026-06-16
   days on market $49,000 Active 69 DOM
5. 2026-06-15
   days on market $49,000 Active 68 DOM
6. 2026-06-14
   days on market $49,000 Active 66 DOM
7. 2026-06-13
   days on market $49,000 Active 65 DOM
8. 2026-06-10
   days on market $49,000 Active 63 DOM
9. 2026-06-09
   days on market $49,000 Active 62 DOM
10. 2026-06-08
    days on market $49,000 Active 61 DOM
11. 2026-06-07
    days on market $49,000 Active 60 DOM
12. 2026-06-05
    days on market $49,000 Active 57 DOM
13. 2026-06-02
    days on market $49,000 Active 55 DOM
14. 2026-06-01
    days on market $49,000 Active 54 DOM
15. 2026-05-31
    days on market $49,000 Active 53 DOM
16. 2026-05-30
    days on market $49,000 Active 52 DOM
17. 2026-04-08
    listed $49,000 Active 164-char remark

    Show marketing remark (164 chars)

    Investment Opportunity! This 3 bedroom 2 bath home needs to be renovated but priced with plenty of upside. Deep well. Paved road access. Great proximity. Cash only.

18. 2026-01-15
    status Active
19. 2025-10-22
    price $30,000
20. 2025-10-22
    status Active
21. 2025-08-14
    price $59,900
22. 2025-06-30
    status Active
23. 2025-06-13
    price $69,900
24. 2025-05-01
    price $74,900
25. 2025-03-07
    price $84,900
26. 2025-02-06
    price $89,900
27. 2024-08-25
    price $99,900
28. 2024-06-17
    listed $108,900 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: $860 · $72/mo
• Projected year-2 tax: $860 · $72/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 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: $21,992
• − Mortgage interest: −$2,745
• − Property taxes: −$860
• − Insurance: −$245
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$1,425
• Taxable income: $13,198
• Est. tax owed @ 24.0%: −$3,168
• After-tax cash flow: $10,018/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 — Laurel Hill

• Score: 62/100
• State rank: #759
• US rank: #16757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,820

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: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 9% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Iranian 5% Romanian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -7.00%
• Current HPI: 236.47
• 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

-55.0% since first listed

12 events — show timeline

• 2026-04-08 Listed $49,000 ECAR
• 2026-01-15 Relisted — ECAR
• 2025-10-22 Price Changed $30,000 ECAR
• 2025-10-22 Relisted — ECAR
• 2025-08-14 Price Changed $59,900 ECAR
• 2025-06-30 Relisted — ECAR
• 2025-06-13 Price Changed $69,900 ECAR
• 2025-05-01 Price Changed $74,900 ECAR
• 2025-03-07 Price Changed $84,900 ECAR
• 2025-02-06 Price Changed $89,900 ECAR
• 2024-08-25 Price Changed $99,900 ECAR
• 2024-06-17 Listed $108,900 ECAR

Property tax history

+24.7%/yr

Latest (2025): $860 · +7.6% YoY. Source: county tax records.