113 E Walker Cir · Crestview, FL 32539

$264,900

4 bd · 2.0 ba · 1,698 sqft · SingleFamily public records · 21 Days on market

Built 1988 0.30 ac lot Est $338k · 22% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.8/30.0
• Schools +5.2/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUGE REDUCTION! Conveniently located in South Crestview, this 1988 home is truly a diamond in the rough. A split bedroom - 3 Bedroom and 2 full bath home - this home has galley style kitchen over looking a very accommodating sunken living area with a large fireplace that is centered between two sliding doors. The previous owners converted part of this 2 car garage home to a detached living space. This area can easily be used as an office or removed to take this back to it's original 2 car design. Some updating has been inside with tiled floors in foyer, kitchen, halls and baths as well the sliding doors in the living room have been upgraded from the original doors. There is certainly some work to do at the property and will not qualify for financing so Cash or FHA 203k only. Bank

Key facts

• Huge yard
• New dimensional roof
• Privacy fence

Tags

• HEATED AND COOLED GARAGE ROOM
• NEW DIMENSIONAL ROOF
• NEW LAMINATE FLOORING
• PRIVACY FENCE
• HUGE YARD
• EASY ACCESS TO I-10

Property features AI

Finance

• HOA & community: Subdivision: SHOAL WOOD ESTATES 1ST PH 1

Exterior

• Parking: Attached garage with 12 garage spaces (converted garage); 2 driveway spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Contemporary style; Single-story; Built in 1988
• Construction: Concrete, frame, and trim wood construction; Shingle roof
• Exterior features: Private yard; Privacy fencing; Open patio; Porch; Interior, level lot with sidewalk; County road frontage (paved)

Interior

• Kitchen: Kitchen on first floor; Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms; Primary bedroom on first floor with walk-in closet
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms; Master bathroom with tile
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Breakfast bar; Cathedral ceilings; Fireplace; Newly painted; Split bedroom layout; Washer/dryer hookups; Woodwork painted; Double pane windows
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $22 ($266/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 $212k (19.9% below list).
• Recommended offer: $212k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Antioch Elementary School (math 64% / reading 69%, grade B+, #473 of 2,144 statewide, top 23%, 1,016 students, 45% FRL); Crestview High School (math 49% / reading 54%, grade D+, #167 of 667 statewide, top 25%, 2,315 students, 42% FRL).
• Market conditions: Rents flat; 521 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• This rent runs 34% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 21 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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 $65k; list at $265k implies a 307% 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 $212,237 (19.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $337,902
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4720 Whitewater Ln	0.11mi	4/2.0	1,750 (+3%)	2mo	$350,000	$200	88
4815 Summer Creek Cv	0.37mi	4/2.0	1,794 (+6%)	1mo	$318,000	$177	72
4600 Soldier Ct	0.52mi	4/2.0	1,856 (+9%)	2mo	$369,900	$199	59
4609 Soldier Ct	0.54mi	4/2.0	1,856 (+9%)	1mo	$370,000	$199	59
4602 Soldier Ct	0.52mi	4/2.0	1,856 (+9%)	3mo	$364,900	$197	58
4700 Marine Loop	0.73mi	3/2.0 (-1)	1,631 (-4%)	1mo	$336,900	$207	54
4690 Marine Loop	0.73mi	3/2.0 (-1)	1,631 (-4%)	2mo	$329,900	$202	53
4707 Airmen Dr	0.71mi	4/2.0	1,851 (+9%)	1mo	$310,000	$167	51
4684 Marine Loop	0.73mi	4/2.0	1,856 (+9%)	2mo	$369,900	$199	49
4694 Marine Loop	0.73mi	4/2.0	1,856 (+9%)	2mo	$369,900	$199	49
4698 Marine Loop	0.73mi	4/2.0	1,856 (+9%)	2mo	$367,000	$198	48
4688 Marine Loop	0.73mi	4/2.0	1,856 (+9%)	3mo	$369,900	$199	48

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 · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.36×
• Total profit: $-47,565
• Equity at exit: $39,497

10-year hold

• IRR: -17.6%
• Equity multiple: 0.15×
• Total profit: $-63,066
• Equity at exit: $22,904

Cash invested: $74,172 (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 32539

• Home prices YoY: -17.8%
• Rents YoY: 0.1%
• Active inventory: 521
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,122 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$155 /mo · $1,859/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $22

Break-even live

Break-even rent $2,094

Max offer price $264,900

Occupancy floor 94%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Brown Pl Crestview, FL	3.0	2.0	1224	$2,000	$1.63	43d	1	0.18mi
2837 Atoka Trl Crestview, FL	3.0	2.0	1572	$2,100	$1.34	43d	1	0.45mi
4737 Airmen Dr Crestview, FL	4.0	2.0	1830	$2,100	$1.15	43d	1	0.55mi
2836 Patriot Ridge Dr Crestview, FL	4.0	2.0	1830	$2,375	$1.30	43d	1	0.66mi
157 Blooming Cv Crestview, FL	3.0	2.0	1727	$1,995	$1.16	43d	1	0.76mi
201 Lyla Ln Crestview, FL	3.0	2.0	1727	$2,095	$1.21	13d	1	0.81mi
201 Lyla Ln Crestview, FL	3.0	2.0	1727	$1,999	$1.16	21d	1	0.81mi
210 Lyla Ln Crestview, FL	4.0	2.0	1815	$2,295	$1.26	43d	1	0.81mi
648 Alysheba Dr Crestview, FL	3.0	2.0	1341	$1,800	$1.34	21d	1	0.85mi
114 Blooming Cv Crestview, FL	3.0	2.0	1712	$2,095	$1.22	21d	1	0.86mi
1035 Limpkin St Crestview, FL	4.0	2.0	1830	$2,300	$1.26	43d	1	0.92mi
4799 Coronado Cir Crestview, FL	3.0	2.0	1476	$2,200	$1.49	13d	1	0.95mi
916 Merganser Way Crestview, FL	3.0	2.0	1631	$1,950	$1.20	21d	1	0.95mi
2784 Keats Dr Crestview, FL	4.0	2.0	1934	$2,195	$1.13	21d	1	0.98mi
240 Swaying Pine Ct Crestview, FL	3.0	2.5	1356	$1,400	$1.03	43d	1	0.99mi
812 Moorhen Way Crestview, FL	4.0	2.0	1830	$2,195	$1.20	43d	1	1.00mi
234 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,350	$0.94	43d	1	1.00mi
833 Moorhen Way Crestview, FL	4.0	2.0	1830	$2,000	$1.09	21d	1	1.01mi
833 Moorhen Way Crestview, FL	4.0	2.0	1830	$2,100	$1.15	44d	1	1.01mi
153 Nicole Ln Crestview, FL	4.0	2.0	1985	$2,000	$1.01	43d	1	1.03mi
215 Southgate Dr Crestview, FL	3.0	2.5	1994	$2,095	$1.05	43d	1	1.04mi
2800 Wilson Ln Crestview, FL	3.0	2.0	1620	$1,895	$1.17	43d	1	1.04mi
2800 Wilson Ln Crestview, FL	4.0	2.0	1620	$1,895	$1.17	13d	1	1.04mi
661 Brookmeade Dr Crestview, FL	4.0	2.0	1637	$2,200	$1.34	13d	1	1.12mi
163 Swaying Pine Ct Crestview, FL	3.0	2.5	1356	$1,300	$0.96	43d	1	1.14mi
107 Trenton Ave Crestview, FL	4.0	3.0	1799	$2,150	$1.20	43d	1	1.14mi
365 Crooked Pine Trl Crestview, FL	3.0	2.5	1356	$1,350	$1.00	13d	1	1.16mi
4699 Meadow Lake Dr Crestview, FL	4.0	3.0	2148	$2,500	$1.16	43d	1	1.17mi
111 Steeplechase Dr Crestview, FL	3.0	2.0	1637	$1,795	$1.10	43d	1	1.17mi
147 Swaying Pine Ct Crestview, FL	3.0	2.5	1309	$1,395	$1.07	21d	1	1.17mi
440 Scarborough St Crestview, FL	4.0	2.0	1387	$2,100	$1.51	43d	1	1.18mi
143 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,450	$1.01	21d	1	1.18mi
347 Crooked Pine Trl Crestview, FL	3.0	2.5	1356	$1,500	$1.11	13d	1	1.20mi
343 Crooked Pine Trl Unit 1 Crestview, FL	3.0	2.5	1415	$1,350	$0.95	13d	1	1.21mi
124 Sandstone Trl Crestview, FL	3.0	2.0	1748	$1,900	$1.09	13d	1	1.22mi
4 Holly Rd Crestview, FL	3.0	2.0	1165	$1,725	$1.48	21d	1	1.24mi
4 Holly Rd Crestview, FL	3.0	2.0	1165	$1,725	$1.48	13d	1	1.24mi
535 Mary Lou Way Crestview, FL	5.0	3.0	2012	$2,400	$1.19	13d	1	1.25mi
295 Limestone Cir Crestview, FL	3.0	2.0	1107	$1,625	$1.47	43d	1	1.25mi
111 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,300	$0.90	43d	1	1.25mi

Listing history 27 events

1. 2026-06-18
   days on market $264,900 Active 21 DOM
2. 2026-06-17
   days on market $264,900 Active 20 DOM
3. 2026-06-16
   days on market $264,900 Active 19 DOM
4. 2026-06-15
   days on market $264,900 Active 18 DOM
5. 2026-06-14
   days on market $264,900 Active 16 DOM
6. 2026-06-13
   days on market $264,900 Active 15 DOM
7. 2026-06-10
   days on market $264,900 Active 13 DOM
8. 2026-06-09
   days on market $264,900 Active 12 DOM
9. 2026-06-08
   days on market $264,900 Active 11 DOM
10. 2026-06-07
    days on market $264,900 Active 10 DOM
11. 2026-06-05
    days on market $264,900 Active 7 DOM
12. 2026-06-02
    days on market $264,900 Active 5 DOM
13. 2026-06-01
    days on market $264,900 Active 4 DOM
14. 2026-05-31
    days on market $264,900 Active 3 DOM
15. 2026-05-30
    days on market $264,900 Active 2 DOM
16. 2026-05-28
    listed $264,900 Active
17. 2014-03-24
    soldstatus $65,100 790-char remark

    Show marketing remark (790 chars)

    HUGE REDUCTION! Conveniently located in South Crestview, this 1988 home is truly a diamond in the rough. A split bedroom - 3 Bedroom and 2 full bath home - this home has galley style kitchen over looking a very accommodating sunken living area with a large fireplace that is centered between two sliding doors. The previous owners converted part of this 2 car garage home to a detached living space. This area can easily be used as an office or removed to take this back to it's original 2 car design. Some updating has been inside with tiled floors in foyer, kitchen, halls and baths as well the sliding doors in the living room have been upgraded from the original doors. There is certainly some work to do at the property and will not qualify for financing so Cash or FHA 203k only. Bank

18. 2014-03-24
    soldstatus $65,100 790-char remark

    Show marketing remark (790 chars)

    HUGE REDUCTION! Conveniently located in South Crestview, this 1988 home is truly a diamond in the rough. A split bedroom - 3 Bedroom and 2 full bath home - this home has galley style kitchen over looking a very accommodating sunken living area with a large fireplace that is centered between two sliding doors. The previous owners converted part of this 2 car garage home to a detached living space. This area can easily be used as an office or removed to take this back to it's original 2 car design. Some updating has been inside with tiled floors in foyer, kitchen, halls and baths as well the sliding doors in the living room have been upgraded from the original doors. There is certainly some work to do at the property and will not qualify for financing so Cash or FHA 203k only. Bank

19. 2014-01-15
    listed $59,900 790-char remark

    Show marketing remark (790 chars)

    HUGE REDUCTION! Conveniently located in South Crestview, this 1988 home is truly a diamond in the rough. A split bedroom - 3 Bedroom and 2 full bath home - this home has galley style kitchen over looking a very accommodating sunken living area with a large fireplace that is centered between two sliding doors. The previous owners converted part of this 2 car garage home to a detached living space. This area can easily be used as an office or removed to take this back to it's original 2 car design. Some updating has been inside with tiled floors in foyer, kitchen, halls and baths as well the sliding doors in the living room have been upgraded from the original doors. There is certainly some work to do at the property and will not qualify for financing so Cash or FHA 203k only. Bank

20. 2014-01-10
    historical
21. 2013-12-11
    listed $74,900
22. 2013-12-11
    listed $74,900
23. 2009-07-08
    historical
24. 2008-03-17
    listed $137,500
25. 2008-03-17
    listed $137,500
26. 1992-03-01
    soldstatus $70,000
27. 1988-10-01
    soldstatus $67,500

ⓘ 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: $1,859 · $155/mo
• Projected year-2 tax: $2,199 · $183/mo
• Expected delta: +$340/yr (+$28/mo · 18.3%)

ⓘ 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 ≥106°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: $25,468
• − Mortgage interest: −$14,839
• − Property taxes: −$1,859
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − Depreciation: −$7,706
• Taxable loss: −$4,335
• Est. tax savings @ 24.0%: +$1,040
• After-tax cash flow: $1,307/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

• County: Okaloosa County · 194,352 people
• City population: 58,889
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 33,290
• Household income: $74,369
• Rent vs Own: 21.7% rent · 78.3% own
• Severe rent burden: 371.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Iranian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -56.52%
• Current HPI: 261.1557
• Rent YoY: ▲ 0.12%
• 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

+292.4% since first listed

12 events — show timeline

• 2026-05-28 Listed $264,900 ECAR
• 2014-03-24 Sold (MLS) $65,100 ECAR
• 2014-03-24 Sold (MLS) $65,100 NAMLS
• 2014-01-15 Listed $59,900 NAMLS
• 2014-01-10 Listing Removed — NAMLS
• 2013-12-11 Listed $74,900 NAMLS
• 2013-12-11 Listed $74,900 ECAR
• 2009-07-08 Listing Removed — NAMLS
• 2008-03-17 Listed $137,500 NAMLS
• 2008-03-17 Listed $137,500 ECAR
• 1992-03-01 Sold (Public Records) $70,000 Public Records
• 1988-10-01 Sold (Public Records) $67,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,859 · +1.6% YoY. Source: county tax records.