4165 Hwy 87 · Holley, FL 32566

$179,000

2 bd · 1.0 ba · 881 sqft · SingleFamily public records · 83 Days on market

Built 1958 0.40 ac lot

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cute 2-bedroom, 1-bathroom block home is nestled on a large .40-acre lot. Perfect starter home with a new 40-year roof, blown in attic insulation, new septic installed in 2015, and new ac / heat unit installed in 2018. Home just needs your finishing touch. Within minutes from Navarre beach!!

Key facts

• 0.4 acre lot
• Built 1958
• Listed 83 days

Property features AI

Finance

• Other: Lot approximately 0.4 acres (dimensions ~100 x 175)
• Financial info: Not specified
• HOA & community: No association

Exterior

• Parking: Open parking with driveway
• Security: Not specified
• Utilities: Copper electrical wiring; Public sewer
• Home design: Resale single-family property; One story
• Construction: Block construction; Slab foundation; Built as a single-level home
• Exterior features: Front porch; Composition roof; Public water; County-maintained road access; Central access lot feature

Interior

• Kitchen: Electric water heater; ENERGY STAR qualified refrigerator and appliances
• Bedrooms: Two bedrooms on the first level (approx. 10' x 12' and 10' x 10')
• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating with multiple units; Multiple cooling units and ceiling fans
• Interior features: Vinyl and carpet flooring; Kitchen and dining combined
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.2% in Holley — 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 64/100 on livability (#698 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: schools F, 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); 768 active listings in the ZIP; 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 $5k 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 83 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $46k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; list at $179k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.74% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-11,708
• Equity at exit: $26,689

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $10,675
• Equity at exit: $15,477

Cash invested: $50,120 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,793 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$123 /mo · $1,481/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $279

Break-even live

Break-even rent $1,439

Max offer price $179,000

Occupancy floor 79%

Sensitivity live

Price	-10% $381	-5% $330	+0% $279	+5% $229	+10% $178
Rent	-10% $138	-5% $209	+0% $279	+5% $350	+10% $421
Rate	-1.0pp $370	-0.5pp $325	base $279	+0.5pp $233	+1.0pp $186

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $179,000 Active 83 DOM
2. 2026-06-17
   days on market $179,000 Active 82 DOM
3. 2026-06-16
   days on market $179,000 Active 81 DOM
4. 2026-06-15
   days on market $179,000 Active 80 DOM
5. 2026-06-14
   days on market $179,000 Active 78 DOM
6. 2026-06-10
   days on market $179,000 Active 75 DOM
7. 2026-06-09
   days on market $179,000 Active 74 DOM
8. 2026-06-08
   days on market $179,000 Active 73 DOM
9. 2026-06-07
   days on market $179,000 Active 72 DOM
10. 2026-06-05
    days on market $179,000 Active 69 DOM
11. 2026-06-03
    days on market $179,000 Active 68 DOM
12. 2026-06-02
    days on market $179,000 Active 67 DOM
13. 2026-06-01
    days on market $179,000 Active 66 DOM
14. 2026-05-31
    days on market $179,000 Active 65 DOM
15. 2026-05-31
    days on market $179,000 Active 64 DOM
16. 2026-05-13
    price $199,500
17. 2026-03-27
    listed $225,000 Active
18. 2018-11-15
    soldstatus $97,500
19. 2018-11-13
    soldstatus $97,500 297-char remark

    Show marketing remark (297 chars)

    This cute 2-bedroom, 1-bathroom block home is nestled on a large .40-acre lot. Perfect starter home with a new 40-year roof, blown in attic insulation, new septic installed in 2015, and new ac / heat unit installed in 2018. Home just needs your finishing touch. Within minutes from Navarre beach!!

20. 2018-09-12
    listed $112,500 297-char remark

    Show marketing remark (297 chars)

    This cute 2-bedroom, 1-bathroom block home is nestled on a large .40-acre lot. Perfect starter home with a new 40-year roof, blown in attic insulation, new septic installed in 2015, and new ac / heat unit installed in 2018. Home just needs your finishing touch. Within minutes from Navarre beach!!

21. 2018-07-05
    historical
22. 2018-05-24
    listed $114,500
23. 2018-02-09
    soldstatus $50,000
24. 2005-02-10
    soldstatus $55,000

ⓘ 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: $1,481 · $123/mo
• Projected year-2 tax: $1,486 · $124/mo
• Expected delta: +$5/yr ($0/mo · 0.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,511
• − Mortgage interest: −$10,027
• − Property taxes: −$1,481
• − Insurance: −$895
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$5,207
• Taxable income: $460
• Est. tax owed @ 24.0%: −$110
• After-tax cash flow: $3,243/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 — Holley

• Score: 64/100
• State rank: #698
• US rank: #14641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holley, FL
• County: Santa Rosa County · 194,764 people
• 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

+262.7% since first listed

9 events — show timeline

• 2026-05-13 Price Changed $199,500 PARMLS
• 2026-03-27 Listed $225,000 PARMLS
• 2018-11-15 Sold (Public Records) $97,500 Public Records
• 2018-11-13 Sold (MLS) $97,500 NAMLS
• 2018-09-12 Listed $112,500 NAMLS
• 2018-07-05 Listing Removed — NAMLS
• 2018-05-24 Listed $114,500 NAMLS
• 2018-02-09 Sold (Public Records) $50,000 Public Records
• 2005-02-10 Sold (Public Records) $55,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,481 · +13.9% YoY. Source: county tax records.