115 Ridgewood Ave · Navarre, FL 32569

$399,900

5 bd · 4.0 ba · 2,970 sqft · SingleFamily public records · 345 Days on market

Built 2023 0.48 ac lot $135/sqft · 21% below area Est $504k · 21% under ↓ 32% since listing

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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 +6.8/30.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 1% rule +1.6/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

Key facts

• 0.48 acre lot
• Pool
• Built 2023

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-626 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (33.8% below list).
• Recommended offer: $265k (33.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#435 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, schools A-; Watch: health & safety C-, 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 soft (-0.5%/yr); 175 active listings in the ZIP; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 41% of the median local income ($78k/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 $3k of loan paydown is wiped out by about $12k 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 345 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $75k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $264,849 (33.8% 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 345 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.66% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.70%
• DSCR: 0.70
• GRM: 12.6

CMA / ARV

• ARV (median comp): $504,500
• List price: $399,900
• Delta: -20.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Shoreline Dr	0.43mi	5/4.0	3,025 (+2%)	2mo	$1,170,000	$387	75
167 Shoreline Dr	0.46mi	4/3.0 (-1)	2,858 (-4%)	4mo	$545,000	$191	60
124 Long Pointe Dr	0.29mi	4/3.0 (-1)	2,611 (-12%)	4mo	$480,000	$184	54
10081 Calle De Palencia Dr	0.66mi	4/3.0 (-1)	2,556 (-14%)	15mo	$544,000	$213	24

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -31.2%
• Equity multiple: -0.00×
• Total profit: $-112,392
• Equity at exit: $59,626

10-year hold

• IRR: -54.5%
• Equity multiple: -0.60×
• Total profit: $-179,118
• Equity at exit: $34,576

Cash invested: $111,972 (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 32569

• Home prices YoY: -26.5%
• Rents YoY: -0.5%
• Active inventory: 175
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,648 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$454 /mo · $5,449/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $-626

Break-even live

Break-even rent $3,440

Max offer price $289,396

Occupancy floor —

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $399,900 Active 345 DOM
2. 2026-06-17
   days on market $399,900 Active 344 DOM
3. 2026-06-16
   days on market $399,900 Active 343 DOM
4. 2026-06-15
   days on market $399,900 Active 342 DOM
5. 2026-06-14
   days on market $399,900 Active 340 DOM
6. 2026-06-13
   days on market $399,900 Active 339 DOM
7. 2026-06-10
   days on market $399,900 Active 337 DOM
8. 2026-06-09
   days on market $399,900 Active 336 DOM
9. 2026-06-08
   days on market $399,900 Active 335 DOM
10. 2026-06-07
    days on market $399,900 Active 334 DOM
11. 2026-06-05
    days on market $399,900 Active 331 DOM
12. 2026-06-02
    days on market $399,900 Active 329 DOM
13. 2026-06-01
    days on market $399,900 Active 328 DOM
14. 2026-05-31
    days on market $399,900 Active 327 DOM
15. 2026-05-30
    days on market $399,900 Active 326 DOM
16. 2026-05-06
    status Active 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

17. 2026-03-24
    historical
18. 2026-03-23
    price $399,900 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

19. 2026-02-13
    price $409,500 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

20. 2026-02-13
    price $409,500

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

21. 2025-12-18
    price $415,000 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

22. 2025-12-18
    price $415,000

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

23. 2025-11-14
    price $425,000 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

24. 2025-11-13
    price $425,000
25. 2025-10-22
    price $449,900 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

26. 2025-10-22
    price $449,900

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

27. 2025-09-03
    price $467,500 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

28. 2025-09-02
    price $467,500
29. 2025-07-08
    listed $475,000 Active 799-char remark

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

30. 2025-07-08
    listed $475,000 Active

    Show marketing remark (799 chars)

    Built in 2023, this modern farmhouse offers a rare blend of style, space, and function just minutes from Hurlburt Field, local schools, shopping, and the white-sand beaches of the Emerald Coast. Designed with a ranch-style layout on the main level and a spacious loft upstairs, this 2-story home features 5 bedrooms, 3.5 bathrooms, and soaring 11-foot ceilings throughout the main floor. Enjoy bamboo flooring throughout, a bright open living area, and a well-equipped kitchen with new stainless steel appliances. The nearly half-acre lot is fully fenced and includes in-ground pool, two detached outbuildings with electric—ideal for workshops, storage, or hobby space. To help visualize this home's floor plan and to highlight its potential, virtual furnishings may have been added to photos.

31. 2024-09-15
    price $559,999
32. 2024-09-13
    price $574,999
33. 2024-09-10
    price $584,999
34. 2024-08-26
    price $589,999
35. 2024-08-19
    price $599,999
36. 2024-08-15
    price $604,999
37. 2024-08-09
    price $619,900
38. 2024-07-29
    price $629,900
39. 2024-07-21
    listed $649,900 Active
40. 2023-11-15
    soldstatus $592,000

ⓘ 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: $5,449 · $454/mo
• Projected year-2 tax: $5,449 · $454/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,782
• − Mortgage interest: −$22,401
• − Property taxes: −$5,449
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − Depreciation: −$11,633
• Taxable loss: −$14,786
• Est. tax savings @ 24.0%: +$3,549
• After-tax cash flow: $-3,958/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 — Navarre

• Score: 70/100
• State rank: #435
• US rank: #7790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Okaloosa County · 194,352 people
• City population: 43,883
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 12,063
• Household income: $77,718
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 416.0

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 0.58)
• Race & ethnicity: White 63% Two or more races 12% Black 12% Hispanic / Latino 9% Asian 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 4% Spanish 3% 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: ▼ -97.13%
• Current HPI: 269.266
• Rent YoY: ▼ -0.45%
• 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

-32.4% since first listed

25 events — show timeline

• 2026-05-06 Relisted — ECAR
• 2026-03-24 Listing Removed — PARMLS
• 2026-03-23 Price Changed $399,900 ECAR
• 2026-02-13 Price Changed $409,500 ECAR
• 2026-02-13 Price Changed $409,500 PARMLS
• 2025-12-18 Price Changed $415,000 ECAR
• 2025-12-18 Price Changed $415,000 PARMLS
• 2025-11-14 Price Changed $425,000 ECAR
• 2025-11-13 Price Changed $425,000 PARMLS
• 2025-10-22 Price Changed $449,900 ECAR
• 2025-10-22 Price Changed $449,900 PARMLS
• 2025-09-03 Price Changed $467,500 ECAR
• 2025-09-02 Price Changed $467,500 PARMLS
• 2025-07-08 Listed $475,000 PARMLS
• 2025-07-08 Listed $475,000 ECAR
• 2024-09-15 Price Changed $559,999 ECAR
• 2024-09-13 Price Changed $574,999 ECAR
• 2024-09-10 Price Changed $584,999 ECAR
• 2024-08-26 Price Changed $589,999 ECAR
• 2024-08-19 Price Changed $599,999 ECAR
• 2024-08-15 Price Changed $604,999 ECAR
• 2024-08-09 Price Changed $619,900 ECAR
• 2024-07-29 Price Changed $629,900 ECAR
• 2024-07-21 Listed $649,900 ECAR
• 2023-11-15 Sold (Public Records) $592,000 Public Records

Property tax history

+110.9%/yr

Latest (2025): $5,449 · -2.7% YoY. Source: county tax records.