5853 Byrom St · Milton, FL 32570

$499,000

4 bd · 2.0 ba · 1,656 sqft · MultiFamily public records · 38 Days on market

Built 1981

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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).

• Cash flow +12.9/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Unique opportunity to purchase 2 duplexes in the City of Milton with a total of 4 individual 2 bedroom 1 bath units. 5853 Byrom Street 5855 Byrom Street 5857 Byrom Street 5859 Byrom Street All units are currently rented bringing in $4,600 monthly rental income. Each unit has a large fenced in yard and backyard attached shed with washer and dryer hook-ups. Offstreet parking.

Key facts

• Offstreet parking
• Large fenced in yard
• Built 1981

Tags

• LARGE FENCED IN YARD
• BACKYARD ATTACHED SHED
• WASHER AND DRYER HOOK-UPS
• OFFSTREET PARKING

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative. Per door: $-35/mo.
• To cash-flow at today's rent, offer at most $481k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $364k (27.1% below list).
• Recommended offer: $364k (27.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.6% in Milton — 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 78/100 on livability (#166 in FL, #2,480 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, 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.
• Zoned schools: W. H. Rhodes Elementary School (math 55% / reading 47%, grade C-, #1,043 of 2,144 statewide, top 49%, 812 students, 79% FRL); Martin Luther King Middle School (math 38% / reading 41%, grade F, #373 of 571 statewide, top 66%, 660 students, 69% FRL); Milton High School (math 44% / reading 42%, grade F, #255 of 667 statewide, top 39%, 2,085 students, 54% FRL) — zoned schools average 67% FRL vs 36% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 44% at this address vs 62% district-wide (-17 pts) — the specific schools serving this property underperform the Santa Rosa average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.7%/yr); 360 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,640/mo this rent would consume 57% of the median local household income ($77k/yr) (locally 590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 38 days — a 3% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; list at $499k implies a 783% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $364,000 (27.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.36×
• Total profit: $-88,853
• Equity at exit: $74,403

10-year hold

• IRR: -11.0%
• Equity multiple: 0.35×
• Total profit: $-91,368
• Equity at exit: $43,144

Cash invested: $139,720 (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 32570

• Home prices YoY: -15.1%
• Rents YoY: 2.7%
• Active inventory: 360
• Price-to-rent: 34.3×

Monthly cashflow live

• Estimated rent: $3,640 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$208
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$764
• Net cashflow: $-105

Break-even live

Break-even rent $3,772

Max offer price $480,513

Occupancy floor 98%

Sensitivity live

Price	-10% $178	-5% $37	+0% $-105	+5% $-246	+10% $-984
Rent	-10% $-392	-5% $-248	+0% $-105	+5% $39	+10% $183
Rate	-1.0pp $147	-0.5pp $22	base $-105	+0.5pp $-234	+1.0pp $-366

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$3,639
Total (3 units)			$3,640

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6716 Barnwood Dr Milton, FL	3.0	2.0	1753	$1,850	$1.06	25d	1	0.31mi
5733 Orange St Milton, FL	3.0	1.5	1640	$1,500	$0.91	25d	1	0.32mi
6747 Weathered Dr Milton, FL	3.0	2.0	1546	$1,800	$1.16	25d	1	0.38mi
6707 Cedar Ridge Cir Milton, FL	3.0	2.5	1669	$1,900	$1.14	15d	1	0.44mi
5723 Maggie Rose Cir Milton, FL	3.0	2.0	1610	$2,000	$1.24	15d	1	1.08mi
5723 Maggie Rose Cir Milton, FL	3.0	2.0	1610	$2,000	$1.24	25d	1	1.08mi
5555 Hannah St Milton, FL	3.0	2.0	2010	$1,900	$0.95	25d	1	1.21mi
5357 Locklin Ave Milton, FL	3.0	1.0	1100	$1,700	$1.55	15d	1	1.25mi

Listing history 18 events

1. 2026-06-22
   days on market $499,000 Active 38 DOM
2. 2026-06-18
   days on market $499,000 Active 35 DOM
3. 2026-06-17
   days on market $499,000 Active 34 DOM
4. 2026-06-16
   days on market $499,000 Active 33 DOM
5. 2026-06-15
   days on market $499,000 Active 32 DOM
6. 2026-06-14
   days on market $499,000 Active 30 DOM
7. 2026-06-10
   days on market $499,000 Active 27 DOM
8. 2026-06-09
   days on market $499,000 Active 26 DOM
9. 2026-06-08
   days on market $499,000 Active 25 DOM
10. 2026-06-07
    days on market $499,000 Active 24 DOM
11. 2026-06-05
    days on market $499,000 Active 21 DOM
12. 2026-06-03
    days on market $499,000 Active 20 DOM
13. 2026-06-02
    days on market $499,000 Active 19 DOM
14. 2026-06-01
    days on market $499,000 Active 18 DOM
15. 2026-05-31
    days on market $499,000 Active 17 DOM
16. 2026-05-31
    days on market $499,000 Active 16 DOM
17. 2026-05-14
    listed $499,000 Active
18. 1981-11-01
    soldstatus $56,500

ⓘ 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: $1,069 · $89/mo
• Projected year-2 tax: $4,142 · $345/mo
• Expected delta: +$3,073/yr (+$256/mo · 287.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,680
• − Mortgage interest: −$27,952
• − Property taxes: −$1,069
• − Insurance: −$3,292
• − Repairs & maintenance: −$3,494
• − Management: −$3,494
• − Depreciation: −$14,516
• Taxable loss: −$10,138
• Est. tax savings @ 24.0%: +$2,433
• After-tax cash flow: $1,177/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 — Milton

• Score: 78/100
• State rank: #166
• US rank: #2480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milton, FL
• County: Santa Rosa County · 194,764 people
• City population: 69,025
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 37,197
• Household income: $77,222
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 590.0

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 7% Black 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -51.06%
• Current HPI: 287.7469
• Rent YoY: ▲ 2.70%
• 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

+783.2% since first listed

2 events — show timeline

• 2026-05-14 Listed $499,000 FSBO.com
• 1981-11-01 Sold (Public Records) $56,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,069 · +3.6% YoY. Source: county tax records.