613 James Lee Rd · Wright, FL 32547

$175,000

3 bd · 1.0 ba · 2,398 sqft · SingleFamily · 16 Days on market

Built 1967 Poor condition 4,356 sqft lot $73/sqft · 55% below area ↓ 5% since listing

---

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 +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3BR/1BA ~2,000 sq ft single-family home on 2nd level needing full renovations. 1st level is a mixed use space that is currently used as a hair salon. Additionally there is a tenant food truck renting the front space of the property. The house has its own meter and the hair salon and food truck are on the same meter.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1967

🏷️ Possibly a rental listed for sale. The $175,000 price doesn't fit this home's estimated sale value (~$388,081) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 4.2% in Wright — 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 80/100 on livability (#117 in FL, #1,790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities F.
• Okaloosa (other): math 60% / reading 60% proficiency, ranked #12 of 73 in FL (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.1%/yr); 224 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• At $2,834/mo this rent would consume 48% of the median local household income ($71k/yr) (locally 1203% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Okaloosa County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $49k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.21%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

• ARV (median comp): $388,081
• List price: $175,000
• Delta: -54.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 James Lee Rd	0.00mi	3/1.0	2,398 (0%)	1mo	$175,000	$73	100
709 Concord Ct	0.16mi	4/2.0 (+1)	2,302 (-4%)	0mo	$538,600	$234	77
129 Newcastle Cir	0.23mi	4/3.5 (+1)	2,390 (-0%)	1mo	$425,000	$178	73
801 Patio Rd	0.51mi	4/2.0 (+1)	2,340 (-2%)	4mo	$545,000	$233	60
511 Trenton St	0.59mi	4/3.0 (+1)	2,392 (-0%)	2mo	$559,300	$234	58
730 Colony Ct	0.39mi	4/2.0 (+1)	2,179 (-9%)	4mo	$444,000	$204	55
422 Gerold St	0.46mi	4/2.0 (+1)	2,262 (-6%)	13mo	$500,000	$221	49
2372 Cummings Dr	0.61mi	4/3.0 (+1)	2,422 (+1%)	12mo	$545,000	$225	47
827 Whitrock Ln	0.30mi	4/2.0 (+1)	2,080 (-13%)	14mo	$400,000	$192	43
206 Forest Dr	0.51mi	4/4.0 (+1)	2,206 (-8%)	5mo	$559,000	$253	42
606 Pelham Rd	0.62mi	3/3.0	2,702 (+13%)	1mo	$775,000	$287	41
2331 Cummings Dr	0.70mi	4/3.0 (+1)	2,532 (+6%)	9mo	$510,000	$201	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: 15.3%
• Equity multiple: 1.59×
• Total profit: $28,936
• Equity at exit: $26,093

10-year hold

• IRR: 21.6%
• Equity multiple: 2.59×
• Total profit: $77,690
• Equity at exit: $15,131

Cash invested: $49,000 (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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 224
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,834 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,029

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 59%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2394 Ellison Way Fort Walton Beach, FL	4.0	2.5	2628	$3,850	$1.46	21d	1	0.68mi
16 Woodham Ave Fort Walton Beach, FL	4.0	3.0	1600	$2,000	$1.25	43d	1	0.72mi
16 Chelsea Dr NW Fort Walton Beach, FL	4.0	3.0	2089	$2,895	$1.39	21d	1	0.75mi
204 Devon Ct Fort Walton Beach, FL	3.0	2.0	1599	$2,000	$1.25	44d	1	0.93mi
608 Manor Ct NW Fort Walton Beach, FL	4.0	2.5	2485	$2,900	$1.17	43d	1	1.10mi
122 Beach Dr Fort Walton Beach, FL	3.0	2.0	2235	$2,400	$1.07	21d	1	1.16mi
618 Country Club Ave NE Fort Walton Beach, FL	4.0	2.0	2120	$4,200	$1.98	13d	1	1.30mi
810 Eglin Pkwy Fort Walton Beach, FL	3.0	3.5	1905	$2,995	$1.57	43d	1	1.41mi
789 Barley Port Ln Fort Walton Beach, FL	4.0	3.0	3049	$3,695	$1.21	43d	1	1.49mi

Listing history 3 events

1. 2026-05-08
   status Pending 317-char remark

   Show marketing remark (317 chars)

   3BR/1BA ~2,000 sq ft single-family home on 2nd level needing full renovations. 1st level is a mixed use space that is currently used as a hair salon. Additionally there is a tenant food truck renting the front space of the property. The house has its own meter and the hair salon and food truck are on the same meter.

2. 2026-05-05
   price $175,000 317-char remark

   Show marketing remark (317 chars)

   3BR/1BA ~2,000 sq ft single-family home on 2nd level needing full renovations. 1st level is a mixed use space that is currently used as a hair salon. Additionally there is a tenant food truck renting the front space of the property. The house has its own meter and the hair salon and food truck are on the same meter.

3. 2026-04-21
   listed $185,000 Active 317-char remark

   Show marketing remark (317 chars)

   3BR/1BA ~2,000 sq ft single-family home on 2nd level needing full renovations. 1st level is a mixed use space that is currently used as a hair salon. Additionally there is a tenant food truck renting the front space of the property. The house has its own meter and the hair salon and food truck are on the same meter.

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

Taxation est. · year 1

• Rental income: $34,005
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,720
• − Management: −$2,720
• − Depreciation: −$5,091
• Taxable income: $10,171
• Est. tax owed @ 24.0%: −$2,441
• After-tax cash flow: $9,910/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.

Condition & rehab AI · 4 photos

Poor 30/100 Extensive rehab

This property requires extensive renovations, including exterior and interior repairs, to become move-in ready. Significant value can be added through a comprehensive renovation that addresses structural issues and enhances the home's curb appeal and functionality.

Repairs flagged

• Major exterior siding — Weathered and peeling
• Major roof — No photos of roof
• Major interior walls/paint — Worn and outdated
• Major flooring — Worn and outdated
• Major HVAC/mechanicals — No photos of HVAC/mechanicals

Value-add opportunities

• Both exterior siding and roof repair — Enhances curb appeal and structural integrity
• Both interior paint and flooring — Improves aesthetics and functionality
• Both HVAC/mechanicals upgrade — Enhances comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and peeling	Major	$15,000–50,000
roof · No photos of roof	Major	$15,000–50,000
interior walls/paint · Worn and outdated	Major	$15,000–50,000
flooring · Worn and outdated	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior siding and roof repair — Enhances curb appeal and structural integrity ↑
• Both interior paint and flooring — Improves aesthetics and functionality ↑
• Both HVAC/mechanicals upgrade — Enhances comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Okaloosa
• NCES district ID: 1201380
• Math proficiency: 60% ▼ -12.00%
• Reading proficiency: 60% ▼ -4.00%
• Median HH income: $55,601
• Composite: 51.62/100
• National rank: #1705
• State rank: #12 of 73 in FL

Livability — Wright

• Score: 80/100
• State rank: #117
• US rank: #1790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wright, FL
• County: Okaloosa County · 194,352 people
• City population: 35,522
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

Population outlook (Okaloosa County) Hauer SSP2

• Today (2025): 235,133 people
• By 2030: 253,483 · +7.8%
• By 2040: 289,537 · +23.1%
• By 2050: 322,954 · +37.3%
• By 2075: 399,624 · +70.0%
• By 2100: 425,311 · +80.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Okaloosa

• 2024 margin: Solid R (+42.4) · D 28.2% · R 70.7% · Other 1.1%
• 2008→2024 swing: +2.5pp toward D · 2008: -44.9pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+39.1 2016: R+47.8 2012: R+49.4 2008: R+44.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

-5.4% since first listed

3 events — show timeline

• 2026-05-08 Pending — ECAR
• 2026-05-05 Price Changed $175,000 ECAR
• 2026-04-21 Listed $185,000 ECAR