168 Ridge Lake Rd · Crestview, FL 32536

$199,900

3 bd · 2.0 ba · 1,131 sqft · SingleFamily public records · 219 Days on market

Built 1986 0.28 ac lot $177/sqft · 14% below area Est $233k · 14% under

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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 +14.4/30.0
• ARV discount +13.8/15.0
• Schools +5.2/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 168 Ridgelake—a wonderful opportunity to own a home in one of Crestview's desirable neighborhoods. This property offers plenty of space, great bones, and tons of potential for those looking to add their personal touch and create something truly special. * Spacious floor plan with open living areas that invite natural light throughout. * Well-designed kitchen layout ready for your updates—imagine the possibilities! * Comfortable bedrooms with generous closet space. * Primary suite features a private bath and room to customize to your taste. * One-car garage and a nice yard perfect for outdoor enjoyment or gardening. This home needs some sheetrock repair and fresh paint, but with a bit of love and creativity, it can easily be transformed into a beautiful showplace. Whether you're a first-time buyer looking for sweat equity, an investor seeking your next project, or someone who enjoys customizing their living space, this property is full of promise.

Key facts

• Open living areas
• Private bath
• Nice yard

Tags

• OPEN LIVING AREAS
• WELL-DESIGNED KITCHEN LAYOUT
• PRIVATE BATH
• NICE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $40 ($481/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 $166k (17.0% below list).
• Recommended offer: $166k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.4% in Crestview — 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 75/100 on livability (#252 in FL, #3,858 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute 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 rising (+1.2%/yr); 351 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $165k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,920 (17.0% below list)

Questions for the listing agent

1. It's been on market 219 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.83% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 10.0

CMA / ARV

• ARV (median comp): $232,606
• List price: $199,900
• Delta: -14.06%
• 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
317 Lakeview Dr	0.45mi	3/2.0	1,138 (+1%)	8mo	$208,000	$183	71
314 Lakeview Dr	0.49mi	3/2.0	1,129 (-0%)	11mo	$200,000	$177	68
117 Jeff Dr	0.61mi	3/2.0	1,107 (-2%)	2mo	$225,000	$203	67
313 Lakeview Dr	0.48mi	3/2.0	1,107 (-2%)	10mo	$230,000	$208	66
140 Jeff Dr	0.48mi	3/2.0	1,144 (+1%)	18mo	$219,100	$192	60
2534 Sunset Dr	0.73mi	3/2.0	1,066 (-6%)	5mo	$198,000	$186	53
122 Jeff Dr	0.59mi	3/2.0	1,053 (-7%)	14mo	$135,000	$128	49
192 Adkinson Dr Dr	0.64mi	3/1.0	1,247 (+10%)	6mo	$122,400	$98	44
2504 Sunset Dr	0.70mi	2/2.0 (-1)	1,150 (+2%)	19mo	$157,500	$137	44
2533 Sunset Dr	0.73mi	3/2.0	1,034 (-9%)	12mo	$244,900	$237	42
266 Seminole Trl	0.69mi	4/2.0 (+1)	1,232 (+9%)	10mo	$185,000	$150	40
124 Lonnie Jack Dr	0.64mi	3/2.0	1,266 (+12%)	15mo	$215,000	$170	38

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 · 1.17% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-32,883
• Equity at exit: $29,806

10-year hold

• IRR: -12.2%
• Equity multiple: 0.33×
• Total profit: $-37,389
• Equity at exit: $17,284

Cash invested: $55,972 (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 32536

• Home prices YoY: -16.2%
• Rents YoY: 1.2%
• Active inventory: 351
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$139 /mo · $1,669/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $40

Break-even live

Break-even rent $1,608

Max offer price $199,900

Occupancy floor 93%

Sensitivity live

Price	-10% $153	-5% $97	+0% $40	+5% $-16	+10% $-73
Rent	-10% $-91	-5% $-25	+0% $40	+5% $106	+10% $171
Rate	-1.0pp $141	-0.5pp $91	base $40	+0.5pp $-12	+1.0pp $-64

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Powell Dr Crestview, FL	3.0	1.5	1008	$1,400	$1.39	45d	1	0.71mi
131 Adkinson Dr Crestview, FL	4.0	1.0	1332	$1,750	$1.31	15d	1	0.75mi
830 Arbor Lake Dr Crestview, FL	2.0	2.5	1200	$1,400	$1.17	15d	1	0.87mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,400	$1.27	45d	1	0.90mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,375	$1.25	22d	1	0.90mi
498 North Ave E Unit A Crestview, FL	2.0	2.0	1081	$1,450	$1.34	45d	1	1.00mi
257 Lindberg St Crestview, FL	2.0	1.0	832	$1,100	$1.32	45d	1	1.03mi
326 Dixie St Crestview, FL	3.0	1.0	1386	$1,400	$1.01	45d	1	1.12mi
800 Spring Creek Blvd Crestview, FL	1.0–3.0	1.0–2.0	1009	$1,900	$1.88	15d	28	1.14mi
6260 Old Bethel Rd Crestview, FL	1.0–3.0	1.0–2.0	1253	$2,295	$1.83	15d	66	1.38mi

Listing history 28 events

1. 2026-06-21
   days on market $199,900 Active 219 DOM
2. 2026-06-18
   days on market $199,900 Active 216 DOM
3. 2026-06-17
   days on market $199,900 Active 215 DOM
4. 2026-06-16
   days on market $199,900 Active 214 DOM
5. 2026-06-15
   days on market $199,900 Active 213 DOM
6. 2026-06-14
   days on market $199,900 Active 211 DOM
7. 2026-06-13
   days on market $199,900 Active 210 DOM
8. 2026-06-10
   days on market $199,900 Active 208 DOM
9. 2026-06-09
   days on market $199,900 Active 207 DOM
10. 2026-06-08
    days on market $199,900 Active 206 DOM
11. 2026-06-07
    days on market $199,900 Active 205 DOM
12. 2026-06-05
    days on market $199,900 Active 202 DOM
13. 2026-06-02
    days on market $199,900 Active 200 DOM
14. 2026-06-01
    days on market $199,900 Active 199 DOM
15. 2026-05-31
    days on market $199,900 Active 198 DOM
16. 2026-05-30
    days on market $199,900 Active 197 DOM
17. 2025-10-25
    listed $199,900 Active 990-char remark

    Show marketing remark (990 chars)

    Welcome to 168 Ridgelake—a wonderful opportunity to own a home in one of Crestview's desirable neighborhoods. This property offers plenty of space, great bones, and tons of potential for those looking to add their personal touch and create something truly special. * Spacious floor plan with open living areas that invite natural light throughout. * Well-designed kitchen layout ready for your updates—imagine the possibilities! * Comfortable bedrooms with generous closet space. * Primary suite features a private bath and room to customize to your taste. * One-car garage and a nice yard perfect for outdoor enjoyment or gardening. This home needs some sheetrock repair and fresh paint, but with a bit of love and creativity, it can easily be transformed into a beautiful showplace. Whether you're a first-time buyer looking for sweat equity, an investor seeking your next project, or someone who enjoys customizing their living space, this property is full of promise.

18. 2021-09-16
    soldstatus $165,000
19. 2021-09-10
    soldstatus $165,000 Sold 635-char remark

    Show marketing remark (635 chars)

    Conveniently located this 3 bedroom 2 bath all vinyl sided home is centrally located and perfect for first time home buyers, small family, or retirement home. Built in 1986, most of this home has been updated with new kitchen tops, recessed lights, and laminate and tile floors. A new AC/Heat Pump system was put in not too many years ago. An extra added bonus is a powered shed/workshop located in the back yard. A cute home and even better pricing! Call today to schedule your showing. (Home is currently tenant occupied. The pictures reflect the home just before the tenants moved in, but may not reflect current ''wear and tear'').

20. 2021-09-10
    soldstatus $165,000 635-char remark

    Show marketing remark (635 chars)

    Conveniently located this 3 bedroom 2 bath all vinyl sided home is centrally located and perfect for first time home buyers, small family, or retirement home. Built in 1986, most of this home has been updated with new kitchen tops, recessed lights, and laminate and tile floors. A new AC/Heat Pump system was put in not too many years ago. An extra added bonus is a powered shed/workshop located in the back yard. A cute home and even better pricing! Call today to schedule your showing. (Home is currently tenant occupied. The pictures reflect the home just before the tenants moved in, but may not reflect current ''wear and tear'').

21. 2021-07-15
    status Pending 635-char remark

    Show marketing remark (635 chars)

    Conveniently located this 3 bedroom 2 bath all vinyl sided home is centrally located and perfect for first time home buyers, small family, or retirement home. Built in 1986, most of this home has been updated with new kitchen tops, recessed lights, and laminate and tile floors. A new AC/Heat Pump system was put in not too many years ago. An extra added bonus is a powered shed/workshop located in the back yard. A cute home and even better pricing! Call today to schedule your showing. (Home is currently tenant occupied. The pictures reflect the home just before the tenants moved in, but may not reflect current ''wear and tear'').

22. 2021-07-10
    listed $165,000 Active 635-char remark

    Show marketing remark (635 chars)

    Conveniently located this 3 bedroom 2 bath all vinyl sided home is centrally located and perfect for first time home buyers, small family, or retirement home. Built in 1986, most of this home has been updated with new kitchen tops, recessed lights, and laminate and tile floors. A new AC/Heat Pump system was put in not too many years ago. An extra added bonus is a powered shed/workshop located in the back yard. A cute home and even better pricing! Call today to schedule your showing. (Home is currently tenant occupied. The pictures reflect the home just before the tenants moved in, but may not reflect current ''wear and tear'').

23. 2021-07-10
    listed $165,000 635-char remark

    Show marketing remark (635 chars)

    Conveniently located this 3 bedroom 2 bath all vinyl sided home is centrally located and perfect for first time home buyers, small family, or retirement home. Built in 1986, most of this home has been updated with new kitchen tops, recessed lights, and laminate and tile floors. A new AC/Heat Pump system was put in not too many years ago. An extra added bonus is a powered shed/workshop located in the back yard. A cute home and even better pricing! Call today to schedule your showing. (Home is currently tenant occupied. The pictures reflect the home just before the tenants moved in, but may not reflect current ''wear and tear'').

24. 2013-08-30
    soldstatus $51,000
25. 2013-08-30
    soldstatus $51,000
26. 2013-08-02
    listed $54,900
27. 1990-10-01
    soldstatus $53,300
28. 1986-07-01
    soldstatus $54,600

ⓘ 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: $1,669 · $139/mo
• Projected year-2 tax: $1,669 · $139/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 8/10 Severe 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,910
• − Mortgage interest: −$11,198
• − Property taxes: −$1,669
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$5,815
• Taxable loss: −$2,957
• Est. tax savings @ 24.0%: +$710
• After-tax cash flow: $1,191/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: 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 — Crestview

• Score: 75/100
• State rank: #252
• US rank: #3858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crestview, FL
• County: Okaloosa County · 194,352 people
• City population: 58,889
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 25,599
• Household income: $78,119
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 634.0

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 0.56)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 7% Tagalog/Filipino 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: ▼ -51.48%
• Current HPI: 265.9926
• Rent YoY: ▲ 1.17%
• 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

+266.1% since first listed

12 events — show timeline

• 2025-10-25 Listed $199,900 ECAR
• 2021-09-16 Sold (Public Records) $165,000 Public Records
• 2021-09-10 Sold (MLS) $165,000 NAMLS
• 2021-09-10 Sold (MLS) $165,000 ECAR
• 2021-07-15 Pending — ECAR
• 2021-07-10 Listed $165,000 ECAR
• 2021-07-10 Listed $165,000 NAMLS
• 2013-08-30 Sold (MLS) $51,000 ECAR
• 2013-08-30 Sold (MLS) $51,000 NAMLS
• 2013-08-02 Listed $54,900 NAMLS
• 1990-10-01 Sold (Public Records) $53,300 Public Records
• 1986-07-01 Sold (Public Records) $54,600 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,669 · +2.3% YoY. Source: county tax records.