4328 Rhonda Rd · Pea Ridge, FL 32571

$199,900

3 bd · 1.0 ba · 1,279 sqft · SingleFamily public records · 65 Days on market

Built 1980 0.26 ac lot Est $216k · 8% 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 +22.5/30.0
• ARV discount +10.9/15.0
• DSCR +7.2/10.0
• Schools +5.3/10.0
• 1% rule +5.1/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a great starter home and with excellent owner financing available.

Key facts

• 0.26 acre lot
• Built 1980
• Listed 65 days

Property features AI

Finance

• Other: County-maintained road access; Energy efficiency features: insulation, insulated walls, ridge vent
• HOA & community: No association

Exterior

• Parking: Driveway with open parking; RV access/parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Circuit breakers with copper wiring; Cable available
• Home design: One-story brick home; Resale property; Not attached to another property; Shingle roof
• Construction: Brick construction; Slab foundation; Built as a single-level (one) dwelling
• Exterior features: Patio; Porch; Back yard with chain-link fence; Interior lot

Interior

• Kitchen: Laminate counters; Pantry; Refrigerator included; Eat-in kitchen / kitchen-dining combo
• Bedrooms: Primary bedroom on the first floor (approx. 11 x 15); Additional bedroom on the first floor (approx. 10 x 12)
• Flooring: Vinyl; Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heat; Central air; Ceiling fans for cooling
• Interior features: Baseboards; Ceiling fans; Insulated doors; Double-pane windows with blinds
• Laundry & utility: Laundry inside with washer/dryer hookups; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.5% in Pea Ridge — 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 69/100 on livability (#459 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D-, amenities F, commute F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.7%/yr); 665 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,983 units permitted in Santa Rosa County in 2024 (128 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.
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $40k; list at $200k implies a 396% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 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: 1.01% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $216,151
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4364 W Avenida De Golf	0.18mi	3/1.5	1,325 (+4%)	2mo	$225,000	$170	82
4233 W Avenida De Golf	0.28mi	3/2.0	1,300 (+2%)	1mo	$181,500	$140	80
5306 Catalina St	0.27mi	3/1.0	1,326 (+4%)	3mo	$150,000	$113	79
4361 W Avenida De Golf	0.21mi	3/1.5	1,371 (+7%)	3mo	$204,000	$149	74
4460 Santa Villa Dr	0.22mi	3/1.5	1,400 (+10%)	4mo	$215,000	$154	69
5270 Barcelona St	0.34mi	3/2.0	1,353 (+6%)	4mo	$228,000	$169	67
4250 Avenida San Marcus	0.39mi	3/2.0	1,326 (+4%)	6mo	$230,000	$173	66
5247 Catalina St	0.30mi	3/2.0	1,430 (+12%)	3mo	$251,000	$176	60
4520 Struth Ln	0.41mi	3/2.0	1,426 (+12%)	6mo	$195,000	$137	53
4412 Copperwood Pl	0.39mi	3/2.0	1,442 (+13%)	4mo	$305,000	$212	53
4175 Bell Ln	0.71mi	3/2.0	1,200 (-6%)	4mo	$209,200	$174	50
4327 Chantilly Way	0.72mi	3/2.0	1,385 (+8%)	6mo	$210,000	$152	44

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 · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-11,643
• Equity at exit: $29,806

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $14,874
• 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 32571

• Home prices YoY: -17.7%
• Rents YoY: 2.7%
• Active inventory: 665
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $335

Break-even live

Break-even rent $1,596

Max offer price $199,900

Occupancy floor 78%

Sensitivity live

Price	-10% $449	-5% $392	+0% $335	+5% $279	+10% $222
Rent	-10% $176	-5% $256	+0% $335	+5% $415	+10% $495
Rate	-1.0pp $436	-0.5pp $386	base $335	+0.5pp $284	+1.0pp $231

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
4933 Bell Ridge Ln Milton, FL	1.0–3.0	1.0–2.0	865	$1,437	$1.66	14d	8	0.70mi
4624 Malay Cir Milton, FL	4.0	2.0	1787	$2,085	$1.17	14d	1	1.01mi
4530 Chantilly Way Milton, FL	3.0	2.0	1629	$1,750	$1.07	24d	1	1.09mi
5061 Peach Dr Milton, FL	3.0	2.5	1581	$1,850	$1.17	24d	1	1.11mi
4836 Covenant Cir Milton, FL	3.0	2.0	1590	$1,875	$1.18	14d	1	1.12mi
5157 Peach Dr Milton, FL	3.0	2.0	1788	$2,100	$1.17	14d	1	1.25mi
4413 Oak Vista Ln Milton, FL	1.0–3.0	1.0–2.0	992	$2,354	$2.37	14d	18	1.32mi
4496 Fiske St Milton, FL	3.0	2.0	1418	$1,850	$1.30	14d	1	1.33mi
5240 Peach Dr Unit NA Milton, FL	4.0	2.0	1800	$2,175	$1.21	24d	1	1.41mi
5320 Cornwall Dr Milton, FL	3.0	2.0	1703	$2,200	$1.29	14d	1	1.48mi

Listing history 22 events

1. 2026-06-18
   days on market $199,900 Active 65 DOM
2. 2026-06-17
   days on market $199,900 Active 64 DOM
3. 2026-06-16
   days on market $199,900 Active 63 DOM
4. 2026-06-15
   days on market $199,900 Active 62 DOM
5. 2026-06-14
   days on market $199,900 Active 60 DOM
6. 2026-06-10
   days on market $199,900 Active 57 DOM
7. 2026-06-09
   days on market $199,900 Active 56 DOM
8. 2026-06-08
   days on market $199,900 Active 55 DOM
9. 2026-06-07
   days on market $199,900 Active 54 DOM
10. 2026-06-05
    days on market $199,900 Active 51 DOM
11. 2026-06-03
    days on market $199,900 Active 50 DOM
12. 2026-06-02
    days on market $199,900 Active 49 DOM
13. 2026-06-01
    days on market $199,900 Active 48 DOM
14. 2026-05-31
    days on market $199,900 Active 47 DOM
15. 2026-05-31
    days on market $199,900 Active 46 DOM
16. 2026-04-14
    listed $199,900 Active
17. 2012-08-03
    historical
18. 2012-01-06
    listed $79,900
19. 1999-03-12
    soldstatus $40,300
20. 1991-08-01
    soldstatus $35,600
21. 1985-07-01
    soldstatus $33,000
22. 1980-03-01
    soldstatus $28,500

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$111/yr (+$9/mo · 7.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 21 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: $24,243
• − Mortgage interest: −$11,198
• − Property taxes: −$1,548
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$5,815
• Taxable income: $804
• Est. tax owed @ 24.0%: −$193
• After-tax cash flow: $3,832/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: Santa Rosa
• NCES district ID: 1201650
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $58,161
• Composite: 53.12/100
• National rank: #1511
• State rank: #8 of 73 in FL

Livability — Pea Ridge

• Score: 69/100
• State rank: #459
• US rank: #8316

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pea Ridge, FL
• County: Santa Rosa County · 194,764 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 42,171
• Household income: $87,617
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 301.0

Population outlook (Santa Rosa County) Hauer SSP2

• Today (2025): 195,978 people
• By 2030: 209,782 · +7.0%
• By 2040: 235,293 · +20.1%
• By 2050: 256,408 · +30.8%
• By 2075: 298,074 · +52.1%
• By 2100: 303,216 · +54.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Santa Rosa

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.0%
• 2008→2024 swing: -3.0pp toward R · 2008: -47.9pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.5 2016: R+53.5 2012: R+52.6 2008: R+47.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.39%
• Current HPI: 290.2953
• Rent YoY: ▲ 2.72%
• Metro: Pensacola-Ferry Pass-Brent, 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

+601.4% since first listed

7 events — show timeline

• 2026-04-14 Listed $199,900 PARMLS
• 2012-08-03 Listing Removed — PARMLS
• 2012-01-06 Listed $79,900 PARMLS
• 1999-03-12 Sold (Public Records) $40,300 Public Records
• 1991-08-01 Sold (Public Records) $35,600 Public Records
• 1985-07-01 Sold (Public Records) $33,000 Public Records
• 1980-03-01 Sold (Public Records) $28,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,548 · +6.1% YoY. Source: county tax records.