451 E Cane Ave · Crestview, FL 32539

$75,000

2 bd · 1.0 ba · 730 sqft · SingleFamily public records · 224 Days on market

Built 1944 6,751 sqft lot $103/sqft · 28% below area Est $104k · 28% under

---

Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special with Endless Potential! This charming property sits on a lovely lot shaded by mature trees, offering the perfect canvas for your next renovation project. The home itself has great bones and curb appeal, plus a detached shed that’s ideal for storage or a workshop. While the house is in need of repairs and updates, it’s easy to see the potential, whether you’re an experienced investor or a handy buyer looking for a project. Conveniently located near shopping, schools, and major roadways, this property offers both accessibility and opportunity. Sold as is. Bring your tools, creativity, and vision to make this home shine again!

Key facts

• Curb appeal
• Detached shed
• Conveniently located

Tags

• DETACHED SHED
• CURB APPEAL
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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.
• Market conditions: Rents flat; 521 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 224 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $35k; list at $75k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — 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 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?
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: 1.89% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.12%
• DSCR: 2.61
• GRM: 4.4

CMA / ARV

• ARV (median comp): $104,177
• List price: $75,000
• Delta: -28.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 E Chestnut Ave	0.42mi	2/1.0	730 (0%)	15mo	$65,000	$89	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 · 0.12% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.15×
• Total profit: $24,121
• Equity at exit: $11,183

10-year hold

• IRR: 34.4%
• Equity multiple: 3.73×
• Total profit: $57,399
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,417 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $632

Break-even live

Break-even rent $617

Max offer price $75,000

Occupancy floor 50%

Sensitivity live

Price	-10% $675	-5% $653	+0% $632	+5% $611	+10% $590
Rent	-10% $520	-5% $576	+0% $632	+5% $688	+10% $744
Rate	-1.0pp $670	-0.5pp $651	base $632	+0.5pp $613	+1.0pp $593

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
475 Aplin Rd Crestview, FL	1.0–2.0	1.0–2.0	764	$999	$1.31	44d	5	0.76mi
650 Blakely Ave Crestview, FL	2.0	1.0	648	$1,000	$1.54	14d	1	0.88mi

Listing history 24 events

1. 2026-06-18
   days on market $75,000 Active 224 DOM
2. 2026-06-17
   days on market $75,000 Active 223 DOM
3. 2026-06-16
   days on market $75,000 Active 222 DOM
4. 2026-06-15
   days on market $75,000 Active 221 DOM
5. 2026-06-14
   days on market $75,000 Active 219 DOM
6. 2026-06-13
   days on market $75,000 Active 218 DOM
7. 2026-06-10
   days on market $75,000 Active 216 DOM
8. 2026-06-09
   days on market $75,000 Active 215 DOM
9. 2026-06-08
   days on market $75,000 Active 214 DOM
10. 2026-06-07
    days on market $75,000 Active 213 DOM
11. 2026-06-05
    days on market $75,000 Active 210 DOM
12. 2026-06-02
    days on market $75,000 Active 208 DOM
13. 2026-06-01
    days on market $75,000 Active 207 DOM
14. 2026-05-31
    days on market $75,000 Active 206 DOM
15. 2026-05-30
    days on market $75,000 Active 205 DOM
16. 2025-11-06
    listed $75,000 Active 667-char remark

    Show marketing remark (667 chars)

    Investor Special with Endless Potential! This charming property sits on a lovely lot shaded by mature trees, offering the perfect canvas for your next renovation project. The home itself has great bones and curb appeal, plus a detached shed that’s ideal for storage or a workshop. While the house is in need of repairs and updates, it’s easy to see the potential, whether you’re an experienced investor or a handy buyer looking for a project. Conveniently located near shopping, schools, and major roadways, this property offers both accessibility and opportunity. Sold as is. Bring your tools, creativity, and vision to make this home shine again!

17. 2025-08-15
    status Pending 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

18. 2025-08-14
    soldstatus $35,000 Sold 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

19. 2025-07-28
    historical Contingent 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

20. 2025-06-30
    status Active 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

21. 2025-06-12
    historical Contingent 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

22. 2025-05-21
    status Active 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

23. 2025-05-13
    historical Contingent 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

24. 2025-05-13
    listed $68,000 Active 311-char remark

    Show marketing remark (311 chars)

    FIXER-UPPER OPPORTUNITY!! This property needs significan repairs and updates, but it has great potential for the right buyer. Whether you are an investor or someone looking for a project, this is a chance to bring new life to a home in convenient location. Being sold as-is-bring your tools and imagination.

ⓘ 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: $751 · $63/mo
• Projected year-2 tax: $751 · $63/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 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: $17,002
• − Mortgage interest: −$4,201
• − Property taxes: −$751
• − Insurance: −$375
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − Depreciation: −$2,182
• Taxable income: $6,773
• Est. tax owed @ 24.0%: −$1,625
• After-tax cash flow: $5,961/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

• Census place: Crestview, FL
• 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

+10.3% since first listed

9 events — show timeline

• 2025-11-06 Listed $75,000 PARMLS
• 2025-08-15 Pending — PARMLS
• 2025-08-14 Sold (MLS) $35,000 PARMLS
• 2025-07-28 Contingent — PARMLS
• 2025-06-30 Relisted — PARMLS
• 2025-06-12 Contingent — PARMLS
• 2025-05-21 Relisted — PARMLS
• 2025-05-13 Contingent — PARMLS
• 2025-05-13 Listed $68,000 PARMLS

Property tax history

+7.8%/yr

Latest (2025): $751 · +10.3% YoY. Source: county tax records.