3304 Skywagon Dr · Crestview, FL 32539

$239,900

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 134 Days on market

Built 2004 0.26 ac lot $167/sqft · 10% below area Est $266k · 10% under

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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 +17.0/30.0
• ARV discount +11.9/15.0
• DSCR +5.3/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER WILL PAY UP TO $6,500 TOWARDS BUYER'S CLOSING COSTS!! Move-in ready and well maintained, this 3-bedroom, 2-bath home offers a freshly painted spacious living room and a semi-open floor plan ideal for both everyday living and entertaining. Major systems--including the roof, AC, and water heater--are all less than 7 years old, providing peace of mind for years to come. The charming and functional kitchen offers ample convenience, while the nicely sized bedrooms include a comfortable primary suite with a walk-in closet. Enjoy additional living space in the Florida room overlooking the fenced backyard--perfect for relaxing or hosting guests. A wonderful place to call home!

Key facts

• Dual vanities
• Walk-in closet
• Florida room

Tags

• FLORIDA ROOM
• FENCED BACKYARD
• SEMI-OPEN FLOOR PLAN
• WALK-IN CLOSET
• DUAL VANITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (15.9% below list).
• Recommended offer: $202k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 33% of the median local income ($74k/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 $2k of loan paydown is wiped out by about $7k 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 134 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $240k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $201,873 (15.9% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (median comp): $265,794
• List price: $239,900
• Delta: -9.74%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3304 Skywagon Dr	0.00mi	3/2.0	1,440 (0%)	0mo	$239,900	$167	100
3312 Skywagon Dr	0.04mi	3/2.0	1,400 (-3%)	7mo	$275,000	$196	87
3111 Skyhawk Dr	0.06mi	3/2.0	1,356 (-6%)	18mo	$265,000	$195	72
3209 Skynight Dr	0.02mi	3/2.0	1,632 (+13%)	13mo	$255,000	$156	66

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: -14.6%
• Equity multiple: 0.49×
• Total profit: $-34,260
• Equity at exit: $35,770

10-year hold

• IRR: -10.8%
• Equity multiple: 0.42×
• Total profit: $-38,898
• Equity at exit: $20,742

Cash invested: $67,172 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,019 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $163

Break-even live

Break-even rent $1,812

Max offer price $239,900

Occupancy floor 87%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-14
   status Pending 684-char remark

   Show marketing remark (684 chars)

   SELLER WILL PAY UP TO $6,500 TOWARDS BUYER'S CLOSING COSTS!! Move-in ready and well maintained, this 3-bedroom, 2-bath home offers a freshly painted spacious living room and a semi-open floor plan ideal for both everyday living and entertaining. Major systems--including the roof, AC, and water heater--are all less than 7 years old, providing peace of mind for years to come. The charming and functional kitchen offers ample convenience, while the nicely sized bedrooms include a comfortable primary suite with a walk-in closet. Enjoy additional living space in the Florida room overlooking the fenced backyard--perfect for relaxing or hosting guests. A wonderful place to call home!

2. 2026-04-25
   price $239,900 684-char remark

   Show marketing remark (684 chars)

   SELLER WILL PAY UP TO $6,500 TOWARDS BUYER'S CLOSING COSTS!! Move-in ready and well maintained, this 3-bedroom, 2-bath home offers a freshly painted spacious living room and a semi-open floor plan ideal for both everyday living and entertaining. Major systems--including the roof, AC, and water heater--are all less than 7 years old, providing peace of mind for years to come. The charming and functional kitchen offers ample convenience, while the nicely sized bedrooms include a comfortable primary suite with a walk-in closet. Enjoy additional living space in the Florida room overlooking the fenced backyard--perfect for relaxing or hosting guests. A wonderful place to call home!

3. 2026-03-11
   price $248,500 684-char remark

   Show marketing remark (684 chars)

   SELLER WILL PAY UP TO $6,500 TOWARDS BUYER'S CLOSING COSTS!! Move-in ready and well maintained, this 3-bedroom, 2-bath home offers a freshly painted spacious living room and a semi-open floor plan ideal for both everyday living and entertaining. Major systems--including the roof, AC, and water heater--are all less than 7 years old, providing peace of mind for years to come. The charming and functional kitchen offers ample convenience, while the nicely sized bedrooms include a comfortable primary suite with a walk-in closet. Enjoy additional living space in the Florida room overlooking the fenced backyard--perfect for relaxing or hosting guests. A wonderful place to call home!

4. 2026-01-20
   price $254,900 684-char remark

   Show marketing remark (684 chars)

   SELLER WILL PAY UP TO $6,500 TOWARDS BUYER'S CLOSING COSTS!! Move-in ready and well maintained, this 3-bedroom, 2-bath home offers a freshly painted spacious living room and a semi-open floor plan ideal for both everyday living and entertaining. Major systems--including the roof, AC, and water heater--are all less than 7 years old, providing peace of mind for years to come. The charming and functional kitchen offers ample convenience, while the nicely sized bedrooms include a comfortable primary suite with a walk-in closet. Enjoy additional living space in the Florida room overlooking the fenced backyard--perfect for relaxing or hosting guests. A wonderful place to call home!

5. 2025-12-30
   listed $255,000 Active 684-char remark

   Show marketing remark (684 chars)

   SELLER WILL PAY UP TO $6,500 TOWARDS BUYER'S CLOSING COSTS!! Move-in ready and well maintained, this 3-bedroom, 2-bath home offers a freshly painted spacious living room and a semi-open floor plan ideal for both everyday living and entertaining. Major systems--including the roof, AC, and water heater--are all less than 7 years old, providing peace of mind for years to come. The charming and functional kitchen offers ample convenience, while the nicely sized bedrooms include a comfortable primary suite with a walk-in closet. Enjoy additional living space in the Florida room overlooking the fenced backyard--perfect for relaxing or hosting guests. A wonderful place to call home!

6. 2004-10-29
   soldstatus $119,900 446-char remark

   Show marketing remark (446 chars)

   A MUCH NEEDED, AFFORDABLE SUBDIVISION BUILT BY RAY CONSTRUCTION * THIS IS A VERY OPEN PLAN * LIVING ROOM IS LARGE WITH A CATHEDRAL CEILING * KITCHEN HAS A PANTRY * PREMIUM LOT * EXCELLENT BUILDER * QUALITY CONSTRUCTION * ALL YARDS WILL BE COMPLETELY SODDED * THIS IS THE SAME AS THE MODEL HOME. MODEL IS OPEN SUN 1-4, MON-FRI 2-5 & SAT 11-3 * * BUILDER RESERVES THE RIGHT TO MAKE MINOR CHANGES WITHOUT NOTIFICATION * THIS IS THE CESSNA PLAN *

7. 2004-10-29
   soldstatus $119,900 446-char remark

   Show marketing remark (446 chars)

   A MUCH NEEDED, AFFORDABLE SUBDIVISION BUILT BY RAY CONSTRUCTION * THIS IS A VERY OPEN PLAN * LIVING ROOM IS LARGE WITH A CATHEDRAL CEILING * KITCHEN HAS A PANTRY * PREMIUM LOT * EXCELLENT BUILDER * QUALITY CONSTRUCTION * ALL YARDS WILL BE COMPLETELY SODDED * THIS IS THE SAME AS THE MODEL HOME. MODEL IS OPEN SUN 1-4, MON-FRI 2-5 & SAT 11-3 * * BUILDER RESERVES THE RIGHT TO MAKE MINOR CHANGES WITHOUT NOTIFICATION * THIS IS THE CESSNA PLAN *

8. 2004-03-26
   listed $119,900 446-char remark

   Show marketing remark (446 chars)

   A MUCH NEEDED, AFFORDABLE SUBDIVISION BUILT BY RAY CONSTRUCTION * THIS IS A VERY OPEN PLAN * LIVING ROOM IS LARGE WITH A CATHEDRAL CEILING * KITCHEN HAS A PANTRY * PREMIUM LOT * EXCELLENT BUILDER * QUALITY CONSTRUCTION * ALL YARDS WILL BE COMPLETELY SODDED * THIS IS THE SAME AS THE MODEL HOME. MODEL IS OPEN SUN 1-4, MON-FRI 2-5 & SAT 11-3 * * BUILDER RESERVES THE RIGHT TO MAKE MINOR CHANGES WITHOUT NOTIFICATION * THIS IS THE CESSNA PLAN *

9. 2004-03-26
   listed $119,900 446-char remark

   Show marketing remark (446 chars)

   A MUCH NEEDED, AFFORDABLE SUBDIVISION BUILT BY RAY CONSTRUCTION * THIS IS A VERY OPEN PLAN * LIVING ROOM IS LARGE WITH A CATHEDRAL CEILING * KITCHEN HAS A PANTRY * PREMIUM LOT * EXCELLENT BUILDER * QUALITY CONSTRUCTION * ALL YARDS WILL BE COMPLETELY SODDED * THIS IS THE SAME AS THE MODEL HOME. MODEL IS OPEN SUN 1-4, MON-FRI 2-5 & SAT 11-3 * * BUILDER RESERVES THE RIGHT TO MAKE MINOR CHANGES WITHOUT NOTIFICATION * THIS IS THE CESSNA PLAN *

ⓘ 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: $880 · $73/mo
• Projected year-2 tax: $1,991 · $166/mo
• Expected delta: +$1,111/yr (+$93/mo · 126.2%)

ⓘ 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 9/10 Extreme 7 d/yr ≥107°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,225
• − Mortgage interest: −$13,438
• − Property taxes: −$880
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − Depreciation: −$6,979
• Taxable loss: −$2,148
• Est. tax savings @ 24.0%: +$515
• After-tax cash flow: $2,477/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

• 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

+100.1% since first listed

9 events — show timeline

• 2026-05-14 Pending — ECAR
• 2026-04-25 Price Changed $239,900 ECAR
• 2026-03-11 Price Changed $248,500 ECAR
• 2026-01-20 Price Changed $254,900 ECAR
• 2025-12-30 Listed $255,000 ECAR
• 2004-10-29 Sold (MLS) $119,900 NAMLS
• 2004-10-29 Sold (MLS) $119,900 ECAR
• 2004-03-26 Listed $119,900 NAMLS
• 2004-03-26 Listed $119,900 ECAR

Property tax history

+1.2%/yr

Latest (2025): $880 · +4.1% YoY. Source: county tax records.