228 Double Bridge Rd · Florala, AL 32567

$47,900

2 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 212 Days on market

Built 1928

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.5/10.0

Listing remarks MLS

Located in North Walton County this 0.60 of an acre is located on a paved road with beautiful trees and lots of opportunities for the right person! Located on property is a 1483 sqft home with zero knowledge of condition of home of utilities on property. Please do not enter property or home without prior consent. Priced to sell with condition acknowledged. Mobiles homes allowed.

Key facts

• City water tap
• Septic available
• Inground pool

Tags

• COUNTRY HOME STYLE LOT
• CITY WATER TAP
• SEPTIC AVAILABLE
• NATURAL GAS AVAILABLE
• INGROUND POOL
• CHAIN LINK FENCED BACK YARD

Property features AI

Finance

• Other: Zoning: County, Residential Single Family, Unrestricted; Road frontage on a county paved road
• HOA & community: Subdivision: Metes and Bounds

Exterior

• Utilities: Electric service available; Natural gas available; Public water; Septic tank; Tap fee paid
• Home design: Country-style home; Single-story
• Construction: Built in 1928; Metal roof; Foundation off grade
• Exterior features: Private gunite/concrete pool; Partially fenced lot with chain link fencing; Cleared and wooded areas; Within 1/2 mile to water; Irregular lot; aerial/topo available

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms total; Master bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: 6 total rooms; Living room on the first floor; Dining area on the first floor; See remarks for energy features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#130 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; 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); South Walton High School (math 61% / reading 73%, grade B, #69 of 667 statewide, top 11%, 1,235 students, 20% FRL) — zoned schools average 33% FRL vs 48% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 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 $331 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $37k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $42,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. 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?
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: 3.38% ✓
• Cap rate: 30.41%
• Cash-on-cash: 86.15%
• DSCR: 4.83
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $206,272
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
523 Landing Ave	0.63mi	3/2.0 (+1)	1,216 (+4%)	3mo	$214,500	$176	53
523 Landing Ave	0.64mi	3/2.0 (+1)	1,216 (+4%)	3mo	$214,500	$176	52
519 Landing Ave	0.62mi	3/2.0 (+1)	1,216 (+4%)	4mo	$241,500	$199	52
521 Landing Ave	0.62mi	3/2.0 (+1)	1,216 (+4%)	5mo	$214,500	$176	52
521 Landing Ave	0.62mi	3/2.0 (+1)	1,216 (+4%)	5mo	$214,500	$176	52
651 6th St	0.72mi	3/2.0 (+1)	1,152 (-2%)	11mo	$179,900	$156	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.6%
• Equity multiple: 4.99×
• Total profit: $53,578
• Equity at exit: $7,142

10-year hold

• IRR: 89.7%
• Equity multiple: 10.37×
• Total profit: $125,680
• Equity at exit: $4,142

Cash invested: $13,412 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 32567

• Home prices YoY: -2.9%
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$251
• Tax from tax record: −$44 /mo · $526/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $963

Break-even live

Break-even rent $399

Max offer price $47,900

Occupancy floor 35%

Sensitivity live

Price	-10% $990	-5% $976	+0% $963	+5% $949	+10% $936
Rent	-10% $835	-5% $899	+0% $963	+5% $1,027	+10% $1,091
Rate	-1.0pp $987	-0.5pp $975	base $963	+0.5pp $950	+1.0pp $938

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $47,900 Active 212 DOM
2. 2026-06-18
   days on market $47,900 Active 209 DOM
3. 2026-06-17
   days on market $47,900 Active 208 DOM
4. 2026-06-16
   days on market $47,900 Active 207 DOM
5. 2026-06-15
   days on market $47,900 Active 206 DOM
6. 2026-06-14
   days on market $47,900 Active 204 DOM
7. 2026-06-13
   days on market $47,900 Active 203 DOM
8. 2026-06-10
   days on market $47,900 Active 201 DOM
9. 2026-06-09
   days on market $47,900 Active 200 DOM
10. 2026-06-08
    days on market $47,900 Active 199 DOM
11. 2026-06-07
    days on market $47,900 Active 198 DOM
12. 2026-06-05
    days on market $47,900 Active 195 DOM
13. 2026-06-03
    days on market $47,900 Active 194 DOM
14. 2026-06-03
    days on market $47,900 Active 193 DOM
15. 2026-06-01
    days on market $47,900 Active 192 DOM
16. 2026-05-31
    days on market $47,900 Active 191 DOM
17. 2026-05-30
    days on market $47,900 Active 190 DOM
18. 2026-05-06
    price $47,900
19. 2025-12-29
    price $59,500
20. 2025-11-21
    listed $85,000 Active
21. 2025-03-24
    soldstatus $155,000
22. 2025-01-31
    soldstatus $26,000 Sold 381-char remark

    Show marketing remark (381 chars)

    Located in North Walton County this 0.60 of an acre is located on a paved road with beautiful trees and lots of opportunities for the right person! Located on property is a 1483 sqft home with zero knowledge of condition of home of utilities on property. Please do not enter property or home without prior consent. Priced to sell with condition acknowledged. Mobiles homes allowed.

23. 2024-12-24
    status Pending 381-char remark

    Show marketing remark (381 chars)

    Located in North Walton County this 0.60 of an acre is located on a paved road with beautiful trees and lots of opportunities for the right person! Located on property is a 1483 sqft home with zero knowledge of condition of home of utilities on property. Please do not enter property or home without prior consent. Priced to sell with condition acknowledged. Mobiles homes allowed.

24. 2024-12-23
    listed $24,900 Active 381-char remark

    Show marketing remark (381 chars)

    Located in North Walton County this 0.60 of an acre is located on a paved road with beautiful trees and lots of opportunities for the right person! Located on property is a 1483 sqft home with zero knowledge of condition of home of utilities on property. Please do not enter property or home without prior consent. Priced to sell with condition acknowledged. Mobiles homes allowed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $526 · $44/mo
• Projected year-2 tax: $526 · $44/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°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: $19,410
• − Mortgage interest: −$2,683
• − Property taxes: −$526
• − Insurance: −$240
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$1,393
• Taxable income: $11,463
• Est. tax owed @ 24.0%: −$2,751
• After-tax cash flow: $8,803/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 — Florala

• Score: 65/100
• State rank: #130
• US rank: #13167

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,820

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 (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 · 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: ▼ -7.00%
• Current HPI: 236.47
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+92.4% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $47,900 ECAR
• 2025-12-29 Price Changed $59,500 ECAR
• 2025-11-21 Listed $85,000 ECAR
• 2025-03-24 Sold (Public Records) $155,000 Public Records
• 2025-01-31 Sold (MLS) $26,000 ECAR
• 2024-12-24 Pending — ECAR
• 2024-12-23 Listed $24,900 ECAR

Property tax history

+2.6%/yr

Latest (2025): $526 · +5.5% YoY. Source: county tax records.