411 E Sloss Ave · DeFuniak Springs, FL 32433

$199,000

3 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 127 Days on market

Built 1960 0.36 ac lot Est $204k · at est.

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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 +16.4/30.0
• Appreciation +10.0/10.0
• ARV discount +8.7/15.0
• Schools +5.2/10.0
• DSCR +5.1/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits in this 4 bedroom 2 bedroom bath with carport. Will require new flooring and repair but could be well worth your investment. Come take a look today.

Key facts

• Covered carport
• Central location
• Large yard

Tags

• GENEROUS 0.36 ACRE LOT
• LARGE YARD
• COVERED CARPORT
• UPDATED KITCHEN
• CENTRAL LOCATION

Property features AI

Finance

• Other: Property tax information available (not included)
• HOA & community: Subdivision: Town of Defuniak Springs

Exterior

• Parking: Attached carport
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story ranch; Built in 1960; Zoned for single-family residential
• Construction: Built in 1960
• Exterior features: Lot accessed by a paved road; Paved road frontage; Lot dimensions approximately 102 x 136; Lot size about 0.36 acre; No pool

Interior

• Kitchen: Standard kitchen on the first floor
• Bedrooms: Four bedrooms; master bedroom on the first floor
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Electric heat controls
• Interior features: Living room on the first floor; Kitchen on the first floor; Agent-measured total building area of 1536

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $174k (12.4% below list).
• Recommended offer: $174k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.8% in DeFuniak Springs — 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 64/100 on livability (#694 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, amenities 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: West Defuniak Elementary School (math 67% / reading 57%, grade B, #608 of 2,144 statewide, top 29%, 669 students, 69% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 67% FRL vs 48% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $199k implies a 391% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,322 (12.4% below list)

Questions for the listing agent

1. It's been on market 127 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 1960 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.42%
• DSCR: 1.11
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $204,288
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 E Sloss Ave	0.00mi	4/2.0 (+1)	1,536 (0%)	0mo	$199,000	$130	91
152 Florence St	0.48mi	3/2.0	1,671 (+9%)	6mo	$188,000	$113	53
301 Dorsey Ave	0.62mi	3/1.0	1,592 (+4%)	15mo	$145,000	$91	53
101 N 10th St	0.54mi	2/1.0 (-1)	1,372 (-11%)	11mo	$182,500	$133	43
59 Davis St	0.40mi	3/2.0	1,343 (-13%)	23mo	$252,500	$188	37
341 S 11Th St	0.73mi	3/2.0	1,726 (+12%)	23mo	$280,000	$162	22

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

Projected returns pro-forma

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

5-year hold

• IRR: 26.0%
• Equity multiple: 3.07×
• Total profit: $115,500
• Equity at exit: $179,275

10-year hold

• IRR: 22.8%
• Equity multiple: 7.00×
• Total profit: $334,415
• Equity at exit: $386,613

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 32433

• Home prices YoY: 4.2%
• Active inventory: 422
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$138 /mo · $1,659/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $112

Break-even live

Break-even rent $1,601

Max offer price $199,000

Occupancy floor 89%

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: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 S 11th St Defuniak Springs, FL	2.0	1.0	1076	$1,499	$1.39	21d	1	0.99mi
90 Andrews Ave Defuniak Springs, FL	3.0	1.0	1118	$1,550	$1.39	13d	1	1.01mi
594 Hunters Ridge Rd Defuniak Springs, FL	3.0	2.0	1654	$1,950	$1.18	13d	1	1.34mi
51 Yearling Ct Defuniak Springs, FL	3.0	2.0	1397	$1,895	$1.36	21d	1	1.47mi
51 Yearling Ct Defuniak Springs, FL	3.0	2.0	1397	$1,750	$1.25	13d	1	1.47mi

Listing history 6 events

1. 2026-05-20
   status Pending
2. 2026-04-06
   price $199,000
3. 2026-01-13
   listed $219,000 Active
4. 2018-07-27
   soldstatus $40,500 169-char remark

   Show marketing remark (169 chars)

   Opportunity awaits in this 4 bedroom 2 bedroom bath with carport. Will require new flooring and repair but could be well worth your investment. Come take a look today.

5. 2018-07-27
   soldstatus $40,500 169-char remark

   Show marketing remark (169 chars)

   Opportunity awaits in this 4 bedroom 2 bedroom bath with carport. Will require new flooring and repair but could be well worth your investment. Come take a look today.

6. 2018-06-30
   listed $42,900 169-char remark

   Show marketing remark (169 chars)

   Opportunity awaits in this 4 bedroom 2 bedroom bath with carport. Will require new flooring and repair but could be well worth your investment. Come take a look 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: $1,659 · $138/mo
• Projected year-2 tax: $1,659 · $138/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $20,919
• − Mortgage interest: −$11,147
• − Property taxes: −$1,659
• − Insurance: −$995
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − Depreciation: −$5,789
• Taxable loss: −$2,018
• Est. tax savings @ 24.0%: +$484
• After-tax cash flow: $1,834/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 — DeFuniak Springs

• Score: 64/100
• State rank: #694
• US rank: #14475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeFuniak Springs, FL
• County: Walton County · 70,839 people
• City population: 19,746
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 19,746
• Household income: $52,199
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 356.0

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 (75%)
• Race & ethnicity: White 75% Black 10% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% 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: ▲ 14.77%
• Current HPI: 367.046
• Rent YoY: —
• 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

+363.9% since first listed

6 events — show timeline

• 2026-05-20 Pending — ECAR
• 2026-04-06 Price Changed $199,000 ECAR
• 2026-01-13 Listed $219,000 ECAR
• 2018-07-27 Sold (MLS) $40,500 NAMLS
• 2018-07-27 Sold (MLS) $40,500 ECAR
• 2018-06-30 Listed $42,900 NAMLS

Property tax history

+8.8%/yr

Latest (2025): $1,659 · +24.5% YoY. Source: county tax records.