503 N Tracy St · Bonifay, FL 32425

$150,000

5 bd · 2.0 ba · 3,096 sqft · SingleFamily public records · 11 Days on market

Built 1910 0.52 ac lot ↓ 25% since listing

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Why this score? — see what drove the C 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 +18.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.4/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Want a home with lots of historical charm? This beautiful well maintained 1910 home can be yours! It has 5 bedrooms and 3 baths, 6 fireplaces and huge rooms. The ceilings are approx. 12 feet high. It also features a large detached 2 car garage (25x20) but for your convenience there is an attached carport to the side of the front porch. The seller is very motivated and is open to all offers. Make an appointment to see this beautiful southern home today!

Key facts

• Carport
• Wrap-around porch
• Historic home

Tags

• WRAP-AROUND PORCH
• DETACHED GARAGE
• CARPORT
• CLASSIC ARCHITECTURAL DETAILS
• HISTORIC HOME

Property features AI

Exterior

• Parking: Two-car garage
• Utilities: Public sewer
• Home design: Two-story single-family layout; Main living areas on the first floor
• Exterior features: Lot approximately 0.52 acres; Lot dimensions about 150 x 150

Interior

• Kitchen: Kitchen on first floor (15 x 11)
• Bedrooms: Four bedrooms (three on second level, one on first level); Bedroom sizes include 14 x 13, 15 x 14, 17 x 13, and 13 x 11
• Bathrooms: Two full bathrooms; Bathroom sizes include 8 x 8 and 11 x 6
• Interior features: 10 total rooms; Sitting room; Dining room; Living room; Sitting room and living areas on the first floor

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (6.3% below list).
• Recommended offer: $140k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.8% in Bonifay — 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 67/100 on livability (#577 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Holmes (rural): math 44% / reading 45% proficiency, ranked #53 of 73 in FL (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ponce De Leon Elementary School (math 42% / reading 52%, grade D-, #1,191 of 2,144 statewide, top 57%, 308 students, 58% FRL); Holmes County High School (math 22% / reading 50%, grade F, #359 of 667 statewide, top 55%, 453 students, 49% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 144 active listings in the ZIP; 12 units permitted in Holmes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Holmes County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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

• Watch-outs: built in 1910 — 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 $140,492 (6.3% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 3.17×
• Total profit: $91,044
• Equity at exit: $135,132

10-year hold

• IRR: 23.9%
• Equity multiple: 7.21×
• Total profit: $260,689
• Equity at exit: $291,417

Cash invested: $42,000 (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 32425

• Home prices YoY: 16.2%
• Active inventory: 144
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,405 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$114 /mo · $1,363/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $147

Break-even live

Break-even rent $1,219

Max offer price $150,000

Occupancy floor 85%

Sensitivity live

Price	-10% $232	-5% $190	+0% $147	+5% $105	+10% $62
Rent	-10% $36	-5% $92	+0% $147	+5% $203	+10% $258
Rate	-1.0pp $223	-0.5pp $185	base $147	+0.5pp $108	+1.0pp $69

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-14
   listed $150,000 Active
2. 2025-12-16
   historical
3. 2025-12-06
   status Active
4. 2025-10-09
   status Pending
5. 2025-08-27
   price $184,000
6. 2025-08-19
   price $189,900
7. 2025-07-17
   price $199,900
8. 2025-07-12
   listed $224,900 Active
9. 2017-01-17
   soldstatus $185,000
10. 2017-01-13
    soldstatus $185,000 456-char remark

    Show marketing remark (456 chars)

    Want a home with lots of historical charm? This beautiful well maintained 1910 home can be yours! It has 5 bedrooms and 3 baths, 6 fireplaces and huge rooms. The ceilings are approx. 12 feet high. It also features a large detached 2 car garage (25x20) but for your convenience there is an attached carport to the side of the front porch. The seller is very motivated and is open to all offers. Make an appointment to see this beautiful southern home today!

11. 2015-01-21
    listed $199,900 456-char remark

    Show marketing remark (456 chars)

    Want a home with lots of historical charm? This beautiful well maintained 1910 home can be yours! It has 5 bedrooms and 3 baths, 6 fireplaces and huge rooms. The ceilings are approx. 12 feet high. It also features a large detached 2 car garage (25x20) but for your convenience there is an attached carport to the side of the front porch. The seller is very motivated and is open to all offers. Make an appointment to see this beautiful southern home today!

ⓘ 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: $1,363 · $114/mo
• Projected year-2 tax: $1,363 · $114/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 ≥107°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,859
• − Mortgage interest: −$8,402
• − Property taxes: −$1,363
• − Insurance: −$750
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$4,364
• Taxable loss: −$717
• Est. tax savings @ 24.0%: +$172
• After-tax cash flow: $1,938/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: Holmes
• NCES district ID: 1200900
• Math proficiency: 44% ▼ -5.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $35,365
• Composite: 36.83/100
• National rank: #4558
• State rank: #53 of 73 in FL

Livability — Bonifay

• Score: 67/100
• State rank: #577
• US rank: #10976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonifay, FL
• Population (ZIP): 13,944

Population outlook (Holmes County) Hauer SSP2

• Today (2025): 17,963 people
• By 2030: 17,245 · -4.0%
• By 2040: 15,970 · -11.1%
• By 2050: 14,905 · -17.0%
• By 2075: 12,327 · -31.4%
• By 2100: 9,760 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Holmes

• 2024 margin: Solid R (+80.2) · D 9.7% · R 89.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -65.0pp · 2024: -80.2pp
• All cycles: 2024: R+80.2 2020: R+78.9 2016: R+77.9 2012: R+68.3 2008: R+65.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.87%
• Current HPI: 322.29
• 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

-25.0% since first listed

11 events — show timeline

• 2026-05-14 Listed $150,000 CPARMLS
• 2025-12-16 Listing Removed — CPARMLS
• 2025-12-06 Relisted — CPARMLS
• 2025-10-09 Pending — CPARMLS
• 2025-08-27 Price Changed $184,000 CPARMLS
• 2025-08-19 Price Changed $189,900 CPARMLS
• 2025-07-17 Price Changed $199,900 CPARMLS
• 2025-07-12 Listed $224,900 CPARMLS
• 2017-01-17 Sold (Public Records) $185,000 Public Records
• 2017-01-13 Sold (MLS) $185,000 CPARMLS
• 2015-01-21 Listed $199,900 CPARMLS

Property tax history

+1.2%/yr

Latest (2017): $1,363 · -0.8% YoY. Source: county tax records.