108 N 7th St · Freeport, FL 32459

$289,000

3 bd · 2.0 ba · 1,024 sqft · SingleFamily public records · 82 Days on market

Built 2004 6,250 sqft lot Est $256k · 13% over

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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 +19.6/30.0
• DSCR +6.2/10.0
• Schools +5.2/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

New roof installed May of 2023. New AC installed August of 2025. New flooring in Kitchen, Dining, Living Room, Bathroom, and a guest BR. Located in the heart of Santa Rosa Beach, this home offers an opportunity to own a versatile property just moments from the Cessna Landing public boat ramp on Hogtown Bayou. This prime location is perfect for boating enthusiasts, because of its quick and easy access to the water for fishing, kayaking, or sunset cruises on the Choctawhatchee Bay. What sets this lot apart is its rear access, providing the perfect spot to park a boat, RV, or other recreational vehicles. Whether you're seeking full-time coastal living or a vacation retreat this property offers

Key facts

• New flooring
• Public boat ramp
• New ac

Tags

• NEW ROOF
• NEW AC
• NEW FLOORING
• REAR ACCESS
• PUBLIC BOAT RAMP
• QUICK ACCESS TO WATER

Property features AI

Finance

• HOA & community: No recorded subdivision

Exterior

• Parking: Driveway with 4 spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric service; Tap fee paid
• Home design: Florida Cottage style; 2 stories; Resid Single Family zoning; Built in 2004
• Construction: Shake roof; Vinyl siding; Foundation off grade
• Exterior features: Screened porch; Workshop; Level lot; Flood insurance required; Survey available; Within 1/2 mile to water; County road frontage

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms total; Primary bedroom located on the second floor; Loft on the second floor
• Flooring: Vinyl
• Bathrooms: 2 bathrooms total (1 full, 1 half)
• Heating & cooling: Central air conditioning; Heat pump heating
• Interior features: Vaulted ceilings; Unfurnished
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (6.7% below list).
• Recommended offer: $270k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: Dune Lakes Elementary School (math 74% / reading 68%, grade A-, #320 of 2,144 statewide, top 15%, 928 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 22% FRL vs 48% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents falling (-3.5%/yr); 1585 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $9k 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

• It's been on market 82 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 29y 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 $135k; list at $289k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $269,539 (6.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.93% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $256,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
79 N 6th St	0.10mi	3/2.0	1,068 (+4%)	0mo	$267,000	$250	88
102 L St	0.32mi	2/2.0 (-1)	960 (-6%)	24mo	$210,000	$219	50
56 Greenleaf Dr	0.72mi	3/2.0	1,174 (+15%)	6mo	$295,000	$251	37

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.25×
• Total profit: $-60,436
• Equity at exit: $43,091

10-year hold

• IRR: -28.1%
• Equity multiple: -0.11×
• Total profit: $-90,006
• Equity at exit: $24,987

Cash invested: $80,920 (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 32459

• Home prices YoY: -19.8%
• Rents YoY: -3.5%
• Active inventory: 1585
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,695 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$159 /mo · $1,911/yr
• Insurance: −$120
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $-92

Break-even live

Break-even rent $2,812

Max offer price $272,676

Occupancy floor 98%

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Santa Cruz Trl Santa Rosa Beach, FL	3.0	2.0	1315	$3,000	$2.28	14d	1	0.28mi
38 Santa Cruz Trl Santa Rosa Beach, FL	3.0	2.0	1315	$3,000	$2.28	14d	1	0.28mi
783 Indian Woman Rd Unit 1447173P Santa Rosa Beach, FL	3.0	2.0	1496	$2,678	$1.79	21d	1	0.43mi
5 Central 7th St Santa Rosa Beach, FL	3.0	2.0	1491	$3,000	$2.01	14d	1	0.54mi
9 Central 7th St Santa Rosa Beach, FL	3.0	2.0	1491	$3,000	$2.01	14d	1	0.72mi
64 Phoenix St SANTA RSA BCH, FL	3.0	2.5	1472	$2,000	$1.36	21d	1	0.78mi
45 Sparrow Ave , FL	3.0	2.5	1472	$1,950	$1.32	21d	1	0.78mi
3 Egret Ave Santa Rosa Beach, FL	3.0	2.5	1490	$2,184	$1.47	14d	3	1.18mi
88 Plantation Way Unit 1447175P Santa Rosa Beach, FL	3.0	2.0	1431	$3,262	$2.28	14d	1	1.28mi

Listing history 38 events

1. 2026-06-10
   days on market $289,000 Active 82 DOM
2. 2026-06-09
   days on market $289,000 Active 81 DOM
3. 2026-06-08
   days on market $289,000 Active 80 DOM
4. 2026-06-07
   days on market $289,000 Active 79 DOM
5. 2026-06-05
   days on market $289,000 Active 76 DOM
6. 2026-06-03
   days on market $289,000 Active 75 DOM
7. 2026-06-03
   pricedays on market $289,000 Active 74 DOM
8. 2026-06-01
   days on market $295,000 Active 73 DOM
9. 2026-05-31
   days on market $295,000 Active 72 DOM
10. 2026-05-30
    days on market $295,000 Active 71 DOM
11. 2026-04-27
    price $295,000
12. 2026-03-20
    listed $299,900 Active
13. 2026-01-09
    price $299,900
14. 2025-12-04
    price $309,900
15. 2025-10-20
    price $314,900
16. 2025-09-12
    price $319,900
17. 2025-08-29
    price $324,900
18. 2025-08-08
    listed $329,900 Active
19. 2019-01-25
    soldstatus $135,000
20. 2017-11-01
    soldstatus $125,000
21. 2011-04-28
    soldstatus $60,000
22. 2010-07-26
    listed $69,000
23. 2009-12-24
    historical
24. 2008-10-17
    listed $129,000
25. 2008-10-17
    listed $129,000
26. 2007-07-17
    historical
27. 2007-01-17
    listed $237,900
28. 2007-01-17
    listed $237,900
29. 2006-05-16
    listed $247,900
30. 2006-03-06
    historical
31. 2005-07-14
    listed $289,900
32. 2005-07-14
    listed $289,900
33. 2005-04-11
    soldstatus $249,500
34. 2005-04-11
    soldstatus $249,500
35. 2005-02-01
    listed $249,900
36. 2005-02-01
    listed $249,900
37. 1998-02-02
    soldstatus $39,000
38. 1997-07-02
    listed $45,000

ⓘ 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: $1,911 · $159/mo
• Projected year-2 tax: $2,399 · $200/mo
• Expected delta: +$488/yr (+$41/mo · 25.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 22 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: $32,345
• − Mortgage interest: −$16,188
• − Property taxes: −$1,911
• − Insurance: −$6,564
• − Repairs & maintenance: −$2,588
• − Management: −$2,588
• − Depreciation: −$8,407
• Taxable loss: −$5,901
• Est. tax savings @ 24.0%: +$1,416
• After-tax cash flow: $307/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): 23,522
• Household income: $107,821
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 633.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 2% 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: ▼ -91.08%
• Current HPI: 368.4091
• Rent YoY: ▼ -3.45%
• 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

+555.6% since first listed

28 events — show timeline

• 2026-04-27 Price Changed $295,000 ECAR
• 2026-03-20 Listed $299,900 ECAR
• 2026-01-09 Price Changed $299,900 ECAR
• 2025-12-04 Price Changed $309,900 ECAR
• 2025-10-20 Price Changed $314,900 ECAR
• 2025-09-12 Price Changed $319,900 ECAR
• 2025-08-29 Price Changed $324,900 ECAR
• 2025-08-08 Listed $329,900 ECAR
• 2019-01-25 Sold (Public Records) $135,000 Public Records
• 2017-11-01 Sold (Public Records) $125,000 Public Records
• 2011-04-28 Sold (MLS) $60,000 CPARMLS
• 2010-07-26 Listed $69,000 CPARMLS
• 2009-12-24 Listing Removed — NAMLS
• 2008-10-17 Listed $129,000 NAMLS
• 2008-10-17 Listed $129,000 ECAR
• 2007-07-17 Listing Removed — NAMLS
• 2007-01-17 Listed $237,900 NAMLS
• 2007-01-17 Listed $237,900 ECAR
• 2006-05-16 Listed $247,900 ECAR
• 2006-03-06 Listing Removed — NAMLS
• 2005-07-14 Listed $289,900 NAMLS
• 2005-07-14 Listed $289,900 ECAR
• 2005-04-11 Sold (MLS) $249,500 NAMLS
• 2005-04-11 Sold (MLS) $249,500 ECAR
• 2005-02-01 Listed $249,900 NAMLS
• 2005-02-01 Listed $249,900 ECAR
• 1998-02-02 Sold (MLS) $39,000 ECAR
• 1997-07-02 Listed $45,000 ECAR

Property tax history

+12.3%/yr

Latest (2025): $1,911 · +190.1% YoY. Source: county tax records.