Real Estate Investing in Westville, Florida (32464)
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Should you buy in 32464 (Westville, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 21.5% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.1% CAGR).
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Westville, FL (32464)?
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Market Analysis: 32464 Westville
ZIP 32464 inside Holmes County looks affordable on the surface — median value of $202K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 32464 can be a a credible choice for hunting ground — but the discount at $202K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Westville have seen price recovery that 32464 has not matched. Holmes County data supports the view that the spread is structural rather than temporary.
Who lives in 32464 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Westville:
Market Trends
Home Value History (with trend line)
📊 How Does 32464 Compare?
| Metric | 32464 | Westville | Crestview-Fort Walton Beach-Destin, FL | Florida |
|---|---|---|---|---|
| Home Value | $202,354 | $202,354 | N/A | $374,697 |
| 5-Year CAGR | 1.1% | 1.1% | N/A | 7.4% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 3.8% | 3.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32464 (Westville, FL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $202,354 |
| Monthly Rent | $981 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +1.1% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 32464
Population: 3,914
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
Is Westville, FL a good place for real estate investing?
Westville, FL comes in at an investability rating of 2.0/5, with median home values near $202K and average rents around $981/mo. That combination puts it in the healthy tier for investor interest.
Is Westville, FL good for house hacking?
The house hack math a challenging in Westville, FL. Owner-occupant buyers benefit from the $981/mo rents and $202K home values.
What do rentals go for in Westville, FL?
Average rent in Westville, FL is approximately $981/mo per month. Against $202K home values that yields a reasonable rent-to-price ratio.
Do landlords face vacancy issues in Westville, FL?
Rental vacancy in Westville, FL is elevated. Investors should budget normal turnover but not chronic empty units.
How much does a house cost in Westville, FL?
Homes in Westville, FL typically sell near $202K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
You know 32464 now. You don’t know where it ranks.
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How 32464 ranks in Crestview-Fort Walton Beach-Destin, FL
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