3178 Audrey Dr · Crestview, FL 32539

$179,900

3 bd · 2.0 ba · 1,140 sqft · Land public records · 69 Days on market

Built 2020 1.00 ac lot ↓ 7% since listing

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• 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

This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

Key facts

• Great condition
• Storage shed
• Solar panels

Tags

• SOLAR PANELS
• STORAGE SHED
• MOVE IN READY
• GREAT CONDITION
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $180k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Zoned schools: Bob Sikes Elementary School (math 53% / reading 60%, grade C+, #816 of 2,144 statewide, top 39%, 829 students, 52% FRL); Davidson Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,149 students, 55% FRL); Crestview High School (math 49% / reading 54%, grade D+, #167 of 667 statewide, top 25%, 2,315 students, 42% FRL).
• Market conditions: Rents flat; 521 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 32% 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 $1k of loan paydown is wiped out by about $5k 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 69 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.10% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.79×
• Total profit: $-10,784
• Equity at exit: $26,824

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-115
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$96 /mo · $1,151/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $376

Break-even live

Break-even rent $1,495

Max offer price $179,900

Occupancy floor 76%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3186 Maple St Crestview, FL	3.0	2.0	1236	$1,900	$1.54	43d	1	0.98mi

Listing history 11 events

1. 2026-05-18
   status Pending 649-char remark

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

2. 2026-04-14
   status Pending

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

3. 2026-04-14
   historical Contingent 649-char remark

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

4. 2026-02-25
   price $179,900

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

5. 2026-02-25
   price $179,900 649-char remark

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

6. 2026-01-23
   listed $184,500 Active 649-char remark

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

7. 2026-01-23
   listed $184,500 Active

   Show marketing remark (649 chars)

   This manufactured home, was built in 2020, and offers 3 bedrooms and 2 bathrooms across 1140 sq ft of living space. All of the appliances convey, there is a new cooktop stove. The primary bedroom and bathroom are split from the two additional bedrooms on the other end of the home. While this is a foreclosed property, in great condition and move in ready. The home also has solar panels on the roof that are paid for and new Hardie Plank skirting installed. The backyard is cleared with a storage shed. Conveniently located just minutes from downtown Crestview, this property is perfect for those who balance access to amenities and value privacy.

8. 2024-01-24
   price $188,500
9. 2024-01-24
   listed $188,500 Active
10. 2024-01-17
    price $192,000
11. 2023-12-06
    listed $192,500 Active

ⓘ 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: $1,151 · $96/mo
• Projected year-2 tax: $1,493 · $124/mo
• Expected delta: +$342/yr (+$28/mo · 29.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $23,642
• − Mortgage interest: −$10,077
• − Property taxes: −$1,151
• − Insurance: −$1,697
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$5,233
• Taxable income: $1,700
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $4,100/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

-6.5% since first listed

11 events — show timeline

• 2026-05-18 Pending — PARMLS
• 2026-04-14 Pending — NAMLS
• 2026-04-14 Contingent — PARMLS
• 2026-02-25 Price Changed $179,900 NAMLS
• 2026-02-25 Price Changed $179,900 PARMLS
• 2026-01-23 Listed $184,500 NAMLS
• 2026-01-23 Listed $184,500 PARMLS
• 2024-01-24 Price Changed $188,500 ECAR
• 2024-01-24 Listed $188,500 ECAR
• 2024-01-17 Price Changed $192,000 ECAR
• 2023-12-06 Listed $192,500 ECAR

Property tax history

+54.6%/yr

Latest (2025): $1,151 · +135.9% YoY. Source: county tax records.