5658 Charter Cir · Midway, FL 32563

$235,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 251 Days on market

Built 1997 Est $221k · 7% over

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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).

• Cash flow +19.2/30.0
• DSCR +6.1/10.0
• Schools +5.3/10.0
• 1% rule +4.5/10.0
• ARV discount +4.4/15.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. Huge Garden Tub in Masterbath. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. This home would make a great starter home for a new family or a nice place for a retired couple.

Key facts

• Private lot
• New gutters
• New roof

Tags

• RENOVATED GULF BREEZE HOME
• PRIVATE LOT
• NEW SOUNDSIDE HIGH SCHOOL
• NEW ROOF
• NEW GUTTERS
• FRONT AND BACK PORCHES

Property features AI

Finance

• HOA & community: Subdivision: EAST BAY HEIGHTS

Exterior

• Parking: Road access via paved county road
• Utilities: Electric service; Public sewer and septic tank listed; TV cable available; Water heater is electric
• Home design: Manufactured home; Single-story; Built in 1997
• Construction: Frame construction with vinyl siding and trim; System-built; Pitched roof; Composite shingle roof
• Exterior features: Yard building; Located on a cul-de-sac; Interior lot; Within 1/2 mile to water; County road frontage with paved access

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 3 bedrooms, all on the first floor
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating (air-to-air); Central air conditioning; Insulated floors and doors
• Interior features: Vaulted ceilings; Split bedroom floorplan; Garden tub in master bathroom; First-floor master bedroom
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $236k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/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 $225k (4.8% below list).
• Recommended offer: $208k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.1% in Midway — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Oriole Beach Elementary School (math 76% / reading 72%, grade A, #249 of 2,144 statewide, top 12%, 799 students, 32% FRL); Gulf Breeze High School (math 67% / reading 69%, grade B, #66 of 667 statewide, top 10%, 1,978 students, 21% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 453 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2k of loan paydown is wiped out by about $7k 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 251 days — a 12% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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.

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 $207,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 0.95% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $220,752
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5658 Charter Cir	0.00mi	3/2.0	1,512 (0%)	21mo	$220,000	$146	83
5612 Monument Ct	0.33mi	3/2.0	1,456 (-4%)	6mo	$235,000	$161	74
2192 Bergren Rd	0.68mi	3/2.0	1,404 (-7%)	7mo	$195,000	$139	51

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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.72×
• Total profit: $-18,294
• Equity at exit: $35,173

10-year hold

• IRR: 4.0%
• Equity multiple: 1.31×
• Total profit: $20,484
• Equity at exit: $20,396

Cash invested: $66,052 (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 32563

• Rents YoY: 4.6%
• Active inventory: 453
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,246 high
• Mortgage (P&I): −$1,237
• Tax from tax record: −$183 /mo · $2,201/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $256

Break-even live

Break-even rent $1,923

Max offer price $235,900

Occupancy floor 84%

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: $58,975
• Closing costs: $7,077
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1889 Natures Way Gulf Breeze, FL	3.0	2.0	1699	$2,850	$1.68	23d	1	0.51mi
1712 Bay Pine Cir Gulf Breeze, FL	4.0	2.0	1783	$2,150	$1.21	23d	1	0.71mi
1861 Teal Cir Gulf Breeze, FL	3.0	2.5	1537	$1,950	$1.27	14d	5	0.81mi
5723 Sandy Walk St Gulf Breeze, FL	3.0	2.5	1537	$1,890	$1.23	14d	1	0.89mi
5723 Sandy Walk St Gulf Breeze, FL	3.0	2.5	1537	$1,890	$1.23	23d	1	0.89mi
5359 Maverick Ln Gulf Breeze, FL	3.0	2.0	1350	$2,200	$1.63	14d	1	0.92mi
5673 Stellarjay St Gulf Breeze, FL	3.0	2.5	1537	$1,950	$1.27	21d	1	0.94mi
1651 Ponderosa Dr Gulf Breeze, FL	3.0	2.0	1605	$2,450	$1.53	21d	1	1.15mi
1651 Ponderosa Dr Gulf Breeze, FL	3.0	2.0	1605	$2,450	$1.53	14d	1	1.15mi
1643 Amarillo Trl Gulf Breeze, FL	3.0	2.0	1462	$1,995	$1.36	23d	1	1.39mi
1786 Kell Rd Gulf Breeze, FL	3.0	2.0	1342	$1,750	$1.30	14d	1	1.49mi

Listing history 11 events

1. 2026-05-31
   days on market $235,900 Active 251 DOM
2. 2026-05-31
   days on market $235,900 Active 250 DOM
3. 2026-03-10
   price $235,900
4. 2025-09-20
   listed $239,900 Active
5. 2024-10-07
   soldstatus $220,000
6. 2024-10-01
   soldstatus $220,000 Sold 602-char remark

   Show marketing remark (602 chars)

   Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. Huge Garden Tub in Masterbath. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. This home would make a great starter home for a new family or a nice place for a retired couple.

7. 2024-09-30
   soldstatus $220,000 Sold 602-char remark

   Show marketing remark (602 chars)

   Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. Huge Garden Tub in Masterbath! This home would make a great starter home for a new family or a nice place for a retired couple.

8. 2024-08-05
   status Pending 602-char remark

   Show marketing remark (602 chars)

   Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. Huge Garden Tub in Masterbath. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. This home would make a great starter home for a new family or a nice place for a retired couple.

9. 2024-08-05
   historical Contingent 602-char remark

   Show marketing remark (602 chars)

   Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. Huge Garden Tub in Masterbath. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. This home would make a great starter home for a new family or a nice place for a retired couple.

10. 2024-07-19
    listed $227,500 Active 602-char remark

    Show marketing remark (602 chars)

    Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. Huge Garden Tub in Masterbath! This home would make a great starter home for a new family or a nice place for a retired couple.

11. 2024-07-19
    listed $227,500 Active 602-char remark

    Show marketing remark (602 chars)

    Completely Renovated Home in Gulf Breeze. 3 bedroom 2 bath 1512sf manufactured home on secluded lot with huge Live Oaks near new Soundside High School. New Roof and gutters, new porches, new wood laminate flooring, new paint, new stove and built in microwave, new ceiling fans and lighting. A/C system is only 2 years old and the duck work has been cleaned and in some cases replaced. All bedrooms have large walkin closets and there is a 16x10 storage shed in the backyard. Huge Garden Tub in Masterbath! This home would make a great starter home for a new family or a nice place for a retired couple.

ⓘ 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: $2,201 · $183/mo
• Projected year-2 tax: $2,201 · $183/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,956
• − Mortgage interest: −$13,214
• − Property taxes: −$2,201
• − Insurance: −$1,180
• − Repairs & maintenance: −$2,156
• − Management: −$2,156
• − Depreciation: −$6,863
• Taxable loss: −$814
• Est. tax savings @ 24.0%: +$195
• After-tax cash flow: $3,265/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 — Midway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Midway, FL
• County: Santa Rosa County · 194,764 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 30,364
• Household income: $100,396
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 397.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 5% Slovak 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Chinese 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: ▼ -229.78%
• Current HPI: 278.9852
• Rent YoY: ▲ 4.60%
• 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

+3.7% since first listed

9 events — show timeline

• 2026-03-10 Price Changed $235,900 ECAR
• 2025-09-20 Listed $239,900 ECAR
• 2024-10-07 Sold (Public Records) $220,000 Public Records
• 2024-10-01 Sold (MLS) $220,000 PARMLS
• 2024-09-30 Sold (MLS) $220,000 NAMLS
• 2024-08-05 Pending — NAMLS
• 2024-08-05 Contingent — PARMLS
• 2024-07-19 Listed $227,500 NAMLS
• 2024-07-19 Listed $227,500 PARMLS

Property tax history

+20.3%/yr

Latest (2025): $2,201 · +290.7% YoY. Source: county tax records.