1956 Reagan Rd · Navarre, FL 32566

$130,000

2 bd · 1.0 ba · 938 sqft · Manufactured public records · 37 Days on market

Built 2005 0.47 ac lot Est $91k · 43% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

For Investors/Flippers. Investor Special-in Serosa Estates Navarre. 3 bedroom /1 bath mobile Home. Sold As Is with no repairs. Must be a cash purchase as mobile home needs extensive work done on it. Walk your kids to West Navarre Intermediate School. Minutes to Navarre Beach, shopping and Hurlburt Fild Air Force Base. Cash in on Navarres Growth. The Boat or car do not convey with the purchase. The property above is zoned as R1M. This zoning district allows for mobile homes on each parcel. If the current mobile home is removed, another one can be installed back on the property or build your own home. You decide.

Key facts

• 0.47 acre lot
• Built 2005
• Listed 37 days

Property features AI

Exterior

• Utilities: Electric service; Public water; TV cable available
• Home design: Mobile home; Residential property; Construction complete
• Construction: Built in 2005; Off-grade foundation; Vinyl trim
• Exterior features: Yard; Building on the lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One-story layout

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.2% in Navarre — 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 70/100 on livability (#435 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, crime A-; Watch: health & safety C-, 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.
• Zoned schools: West Navarre Primary School (723 students, 39% FRL); Woodlawn Beach Middle School (math 68% / reading 60%, grade B+, #105 of 571 statewide, top 19%, 948 students, 34% FRL); Navarre High School (math 49% / reading 58%, grade C-, #146 of 667 statewide, top 22%, 2,406 students, 30% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 768 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $899 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $130k implies a 465% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.32% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.57%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $90,986
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1923 Constitution Dr	0.25mi	2/2.0	924 (-2%)	16mo	$90,000	$97	68

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 · 2.74% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.34×
• Total profit: $12,407
• Equity at exit: $19,383

10-year hold

• IRR: 17.7%
• Equity multiple: 2.44×
• Total profit: $52,596
• Equity at exit: $11,240

Cash invested: $36,400 (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 32566

• Home prices YoY: -26.2%
• Rents YoY: 2.7%
• Active inventory: 768
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,713 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$85 /mo · $1,017/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $533

Break-even live

Break-even rent $1,039

Max offer price $130,000

Occupancy floor 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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1726 Eagle Bay Ln Navarre, FL	2.0	1.0	957	$1,295	$1.35	23d	1	0.56mi
7381 Navarre Pkwy Navarre, FL	1.0–3.0	1.0–2.0	986	$1,824	$1.85	14d	24	1.02mi
7459 Harvest Village Ct Navarre, FL	2.0	2.0	1102	$1,650	$1.50	23d	1	1.18mi

Listing history 25 events

1. 2026-06-18
   days on market $130,000 Active 37 DOM
2. 2026-06-17
   days on market $130,000 Active 36 DOM
3. 2026-06-16
   days on market $130,000 Active 35 DOM
4. 2026-06-15
   days on market $130,000 Active 34 DOM
5. 2026-06-14
   days on market $130,000 Active 32 DOM
6. 2026-06-10
   pricedays on market $130,000 Active 29 DOM
7. 2026-06-09
   days on market $140,000 Active 28 DOM
8. 2026-06-08
   days on market $140,000 Active 27 DOM
9. 2026-06-07
   days on market $140,000 Active 26 DOM
10. 2026-06-05
    days on market $140,000 Active 23 DOM
11. 2026-06-03
    days on market $140,000 Active 22 DOM
12. 2026-06-02
    days on market $140,000 Active 21 DOM
13. 2026-06-01
    days on market $140,000 Active 20 DOM
14. 2026-05-31
    days on market $140,000 Active 19 DOM
15. 2026-05-31
    days on market $140,000 Active 18 DOM
16. 2026-05-09
    listed $140,000 Active
17. 2010-08-02
    historical
18. 2010-08-02
    historical
19. 2009-08-25
    listed $80,000
20. 2009-08-25
    listed $80,000
21. 2002-02-15
    soldstatus $23,000
22. 1997-11-24
    soldstatus $22,600
23. 1995-12-19
    soldstatus $11,800
24. 1990-02-01
    soldstatus $7,500
25. 1983-12-01
    soldstatus $360,000

ⓘ 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: $1,017 · $85/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$62/yr (+$5/mo · 6.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,561
• − Mortgage interest: −$7,282
• − Property taxes: −$1,017
• − Insurance: −$650
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − Depreciation: −$3,782
• Taxable income: $4,540
• Est. tax owed @ 24.0%: −$1,090
• After-tax cash flow: $5,305/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 — 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

• Census place: Navarre, FL
• County: Santa Rosa County · 194,764 people
• City population: 43,883
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 43,883
• Household income: $105,551
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 608.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 9% Hispanic / Latino 9% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Scotch-Irish 3% Lithuanian 3% Romanian 2%
• Foreign-born: 6% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Tagalog/Filipino 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: ▼ -105.87%
• Current HPI: 298.6821
• Rent YoY: ▲ 2.74%
• 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

-61.1% since first listed

10 events — show timeline

• 2026-05-09 Listed $140,000 NAMLS
• 2010-08-02 Listing Removed — NAMLS
• 2010-08-02 Listing Removed — PARMLS
• 2009-08-25 Listed $80,000 NAMLS
• 2009-08-25 Listed $80,000 PARMLS
• 2002-02-15 Sold (Public Records) $23,000 Public Records
• 1997-11-24 Sold (Public Records) $22,600 Public Records
• 1995-12-19 Sold (Public Records) $11,800 Public Records
• 1990-02-01 Sold (Public Records) $7,500 Public Records
• 1983-12-01 Sold (Public Records) $360,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,017 · +7.8% YoY. Source: county tax records.