12 E Royal Palm Ave · DeFuniak Springs, FL 32433

$135,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 41 Days on market

Built 2005 0.57 ac lot Est $152k · 11% under

---

Why this score? — see what drove the A- 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
• ARV discount +12.5/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• Schools +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice mobile home on 2 lots. Close to Highway 90. 3 bedrooms and 2 baths. Walk in closet in master. Garden tub in master with large walk in shower. Refrigerator and stove convey. Needs a little TLC but move in ready. Large fenced in back yard. Large covered porch at front door.

Key facts

• Covered front porch
• Easy access
• Yard building

Tags

• LARGE FENCED-IN BACKYARD
• COVERED FRONT PORCH
• YARD BUILDING
• CORNER LEVEL LOT
• EASY ACCESS

Property features AI

Finance

• Other: Zoned for mobile home or single-family residential
• Financial info:
• HOA & community: Subdivision: OAKWOOD HILLS UNIT 1

Exterior

• Parking:
• Security:
• Utilities: Electric service; Public water; Septic tank; Phone service; Electric water heater
• Home design: Mobile home; Single-story
• Construction: Built in 2005; Vinyl siding; Metal roof
• Exterior features: Private yard; Yard building; Partially fenced lot; Covered deck; Open deck; Porch; Corner, level lot; Road frontage on a county road; access via county road, dirt/clay road, graded/maintained

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms; Primary bedroom on the first floor with walk-in closet
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; Primary bathroom with garden tub and separate shower
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Washer/Dryer hookup; Ceiling fans
• Laundry & utility: Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: Mossy Head School (math 72% / reading 57%, grade B, #525 of 2,144 statewide, top 26%, 439 students, 86% FRL); Walton High School (math 52% / reading 53%, grade C-, #154 of 667 statewide, top 24%, 856 students, 65% FRL) — zoned schools average 75% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 422 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 $14k of equity ($933 loan paydown + $14k 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $49k; list at $135k implies a 176% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
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: 1.36% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.47%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $152,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
95 E Juniper Ave	0.20mi	3/2.0	1,232 (+1%)	12mo	$67,500	$55	79
124 E Juniper Ave	0.19mi	3/2.0	1,152 (-5%)	16mo	$143,000	$124	69
350 W Dogwood Ave	0.38mi	3/2.0	1,320 (+9%)	7mo	$165,000	$125	62
154 Orange Blossom Ave	0.58mi	3/2.0	1,140 (-6%)	17mo	$144,900	$127	48
40 Blue Marlin Ct	0.64mi	3/2.0	1,140 (-6%)	18mo	$150,000	$132	45

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: 36.5%
• Equity multiple: 3.82×
• Total profit: $106,604
• Equity at exit: $121,619

10-year hold

• IRR: 31.4%
• Equity multiple: 8.62×
• Total profit: $287,994
• Equity at exit: $262,275

Cash invested: $37,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,838 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $519

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 67%

Sensitivity live

Price	-10% $612	-5% $566	+0% $519	+5% $472	+10% $426
Rent	-10% $374	-5% $446	+0% $519	+5% $592	+10% $664
Rate	-1.0pp $587	-0.5pp $553	base $519	+0.5pp $484	+1.0pp $448

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Hibiscus Ave Defuniak Springs, FL	3.0	2.0	1256	$1,950	$1.55	21d	1	0.35mi
71 Lafavre Ln Defuniak Springs, FL	2.0	1.0	806	$1,650	$2.05	21d	1	0.66mi
135 Tiger Lily Ln Defuniak Springs, FL	3.0	2.0	1114	$1,795	$1.61	14d	1	1.09mi

Listing history 22 events

1. 2026-06-18
   days on market $135,000 Active 41 DOM
2. 2026-06-17
   days on market $135,000 Active 40 DOM
3. 2026-06-16
   days on market $135,000 Active 39 DOM
4. 2026-06-15
   days on market $135,000 Active 38 DOM
5. 2026-06-14
   days on market $135,000 Active 36 DOM
6. 2026-06-13
   days on market $135,000 Active 35 DOM
7. 2026-06-10
   days on market $135,000 Active 33 DOM
8. 2026-06-09
   days on market $135,000 Active 32 DOM
9. 2026-06-08
   days on market $135,000 Active 31 DOM
10. 2026-06-07
    days on market $135,000 Active 30 DOM
11. 2026-06-05
    days on market $135,000 Active 27 DOM
12. 2026-06-03
    days on market $135,000 Active 26 DOM
13. 2026-06-03
    days on market $135,000 Active 25 DOM
14. 2026-06-01
    days on market $135,000 Active 24 DOM
15. 2026-05-31
    days on market $135,000 Active 23 DOM
16. 2026-05-30
    days on market $135,000 Active 22 DOM
17. 2026-05-09
    listed $135,000 Active
18. 2019-11-13
    soldstatus $49,000
19. 2019-11-08
    soldstatus $49,000 277-char remark

    Show marketing remark (277 chars)

    Nice mobile home on 2 lots. Close to Highway 90. 3 bedrooms and 2 baths. Walk in closet in master. Garden tub in master with large walk in shower. Refrigerator and stove convey. Needs a little TLC but move in ready. Large fenced in back yard. Large covered porch at front door.

20. 2019-11-08
    soldstatus $49,000 277-char remark

    Show marketing remark (277 chars)

    Nice mobile home on 2 lots. Close to Highway 90. 3 bedrooms and 2 baths. Walk in closet in master. Garden tub in master with large walk in shower. Refrigerator and stove convey. Needs a little TLC but move in ready. Large fenced in back yard. Large covered porch at front door.

21. 2019-10-26
    listed $55,000 277-char remark

    Show marketing remark (277 chars)

    Nice mobile home on 2 lots. Close to Highway 90. 3 bedrooms and 2 baths. Walk in closet in master. Garden tub in master with large walk in shower. Refrigerator and stove convey. Needs a little TLC but move in ready. Large fenced in back yard. Large covered porch at front door.

22. 2005-07-07
    soldstatus $57,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $22,054
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,764
• − Management: −$1,764
• − Depreciation: −$3,927
• Taxable income: $4,336
• Est. tax owed @ 24.0%: −$1,041
• After-tax cash flow: $5,187/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

• 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

+134.8% since first listed

6 events — show timeline

• 2026-05-09 Listed $135,000 ECAR
• 2019-11-13 Sold (Public Records) $49,000 Public Records
• 2019-11-08 Sold (MLS) $49,000 NAMLS
• 2019-11-08 Sold (MLS) $49,000 ECAR
• 2019-10-26 Listed $55,000 NAMLS
• 2005-07-07 Sold (Public Records) $57,500 Public Records

Property tax history

+4.5%/yr

Latest (2025): $209 · -9.0% YoY. Source: county tax records.