24 Oak Pl · Freeport, FL 32439

$199,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 8 Days on market

Built 2000 0.70 ac lot Est $195k · at est.

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Why this score? — see what drove the D+ 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 +19.4/30.0
• ARV discount +6.7/15.0
• DSCR +6.1/10.0
• Schools +5.2/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 1/2 acre lot one block off Choctawhatchee Bay with possible bay and Destin skyline views from a second story balcony or roof deck. Less that 1 mile to the Choctaw Beach Park and public boat ramp and 10 minutes to the Mid-Bay Bridge, which provides quick access to the beaches, shopping and dining in the Destin area.

Key facts

• Community dock
• New appliances
• Lvp flooring

Tags

• CORNER LOT
• COMMUNITY DOCK
• LVP FLOORING
• NEW APPLIANCES
• NEW HVAC SYSTEM
• SPLIT-BEDROOM FLOOR PLAN

Property features AI

Finance

• HOA & community: Community offers boat launch, dock and fishing

Exterior

• Parking: Detached oversized carport; 4 carport spaces; 2 driveway spaces
• Utilities: Electric service; Private well water; Septic tank; Phone service
• Home design: Single-story mobile home; Built in 2000
• Construction: Composite shingle roof; Frame construction with vinyl siding and trim; Off-grade foundation
• Exterior features: Partial privacy fencing; Fenced area (partially fenced); Workshop on the property; Corner lot on a cul-de-sac; County paved road frontage

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: 3 bedrooms; Primary suite on the first floor with walk-in closet, dressing area, garden tub and separate shower, double vanity
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Newly painted; Split bedroom layout; Washer/dryer hookup
• Laundry & utility: Washer and dryer present (washer/dryer hookup); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/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 $177k (11.2% below list).
• Recommended offer: $177k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.0% in Freeport — 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 68/100 on livability (#520 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; 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); 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: Rents rising (+1.4%/yr); 1012 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y 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 $60k; list at $199k implies a 232% 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; moderate 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 $176,762 (11.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
3. 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.
4. 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.
5. 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: 0.89% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $195,360
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Creekside Waterview Ct	0.06mi	3/2.0 (+1)	1,080 (+2%)	10mo	$200,000	$185	80

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 · 1.4% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-21,050
• Equity at exit: $29,672

10-year hold

• IRR: -3.4%
• Equity multiple: 0.79×
• Total profit: $-11,702
• Equity at exit: $17,206

Cash invested: $55,720 (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 32439

• Home prices YoY: -4.2%
• Rents YoY: 1.4%
• Active inventory: 1012
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,768 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$49 /mo · $584/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $221

Break-even live

Break-even rent $1,488

Max offer price $199,000

Occupancy floor 82%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-10
   status $199,000 Pending 8 DOM
2. 2026-06-09
   days on market $199,000 Active 8 DOM
3. 2026-06-08
   days on market $199,000 Active 7 DOM
4. 2026-06-07
   days on market $199,000 Active 6 DOM
5. 2026-06-05
   days on market $199,000 Active 3 DOM
6. 2026-06-03
   days on market $199,000 Active 2 DOM
7. 2026-06-02
   remarks 699-char remark
8. 2026-06-02
   listed $199,000 Active 1 DOM

ⓘ 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: $584 · $49/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$1,068/yr (+$89/mo · 183.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $21,211
• − Mortgage interest: −$11,147
• − Property taxes: −$584
• − Insurance: −$995
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$5,789
• Taxable loss: −$697
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $2,823/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 — Freeport

• Score: 68/100
• State rank: #520
• US rank: #9579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• City population: 15,328
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 15,328
• Household income: $83,227
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 172.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 8% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2% Cuban 1%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 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: ▼ -15.18%
• Current HPI: 350.4692
• Rent YoY: ▲ 1.40%
• 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

+59.3% since first listed

13 events — show timeline

• 2026-06-01 Listed $199,000 ECAR
• 2019-07-08 Sold (MLS) $60,000 ECAR
• 2007-06-26 Sold (Public Records) $120,000 Public Records
• 2007-06-22 Sold (MLS) $120,000 NAMLS
• 2007-06-22 Sold (MLS) $120,000 ECAR
• 2007-01-26 Listed $122,000 NAMLS
• 2007-01-26 Listed $122,000 ECAR
• 2006-12-31 Listing Removed — NAMLS
• 2006-07-19 Listed $164,900 NAMLS
• 2006-07-19 Listed $164,900 ECAR
• 2005-09-20 Listed $110,000 ECAR
• 2005-05-25 Listed $120,000 ECAR
• 2005-01-03 Listed $124,900 ECAR

Property tax history

+5.1%/yr

Latest (2025): $584 · +1.9% YoY. Source: county tax records.