515 E Robinson Ave · Crestview, FL 32539

$130,000

5 bd · 2.0 ba · 1,700 sqft · SingleFamily public records · 43 Days on market

Built 1961 0.35 ac lot $76/sqft · 54% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

Key facts

• Metal roof
• Detached workshop
• Vinyl siding

Tags

• CHAIN-LINK FENCING
• VINYL SIDING
• METAL ROOF
• DETACHED WORKSHOP
• SPLIT-BEDROOM DESIGN

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $913 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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; 526 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 39% 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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.86% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.09%
• DSCR: 2.34
• GRM: 4.5

CMA / ARV

• ARV (median comp): $284,377
• List price: $130,000
• Delta: -54.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 King St	0.44mi	4/2.0 (-1)	1,710 (+1%)	19mo	$286,000	$167	58
2882 Shoffner Ave	0.42mi	4/2.0 (-1)	1,492 (-12%)	10mo	$295,000	$198	46
2858 Shoffner Ave	0.34mi	4/2.0 (-1)	1,544 (-9%)	22mo	$299,000	$194	46
931 E Edney Ave	0.65mi	4/2.0 (-1)	1,929 (+14%)	12mo	$285,000	$148	32

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: 21.2%
• Equity multiple: 1.83×
• Total profit: $30,369
• Equity at exit: $19,383

10-year hold

• IRR: 27.3%
• Equity multiple: 3.07×
• Total profit: $75,357
• Equity at exit: $11,240

Cash invested: $36,400 (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: 526
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,414 high
• Mortgage (P&I): −$682
• Tax from tax record: −$258 /mo · $3,096/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $913

Break-even live

Break-even rent $1,258

Max offer price $130,000

Occupancy floor 57%

Sensitivity live

Price	-10% $986	-5% $950	+0% $913	+5% $876	+10% $839
Rent	-10% $722	-5% $817	+0% $913	+5% $1,008	+10% $1,103
Rate	-1.0pp $978	-0.5pp $946	base $913	+0.5pp $879	+1.0pp $845

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Johnson Ct Crestview, FL	4.0	2.5	2080	$2,050	$0.99	22d	1	0.54mi
661 Brookmeade Dr Crestview, FL	4.0	2.0	1637	$2,200	$1.34	14d	1	1.17mi
107 Trenton Ave Crestview, FL	4.0	3.0	1799	$2,150	$1.20	44d	1	1.34mi
210 Lyla Ln Crestview, FL	4.0	2.0	1815	$2,295	$1.26	44d	1	1.38mi
153 Nicole Ln Crestview, FL	4.0	2.0	1985	$2,000	$1.01	44d	1	1.39mi
304 Strawbridge Dr Crestview, FL	4.0	2.0	1650	$1,850	$1.12	14d	1	1.39mi
202 Wainwright Dr Crestview, FL	4.0	2.5	2002	$1,890	$0.94	22d	1	1.45mi
448 Eisenhower Dr Crestview, FL	5.0	3.0	2019	$2,550	$1.26	44d	1	1.49mi

Listing history 26 events

1. 2026-05-15
   status Pending 806-char remark

   Show marketing remark (806 chars)

   Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

2. 2026-05-05
   status Active 806-char remark

   Show marketing remark (806 chars)

   Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

3. 2026-04-24
   status Pending 806-char remark

   Show marketing remark (806 chars)

   Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

4. 2026-04-08
   status Active 806-char remark

   Show marketing remark (806 chars)

   Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

5. 2026-04-02
   status Pending 806-char remark

   Show marketing remark (806 chars)

   Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

6. 2026-03-16
   listed $130,000 Active 806-char remark

   Show marketing remark (806 chars)

   Originally built in 1961 with an effective age of 2000, this 5-bedroom, 2-bath REO home is priced to move. Resting on approximately . 35 acres, the property is fully enclosed with chain-link fencing and features vinyl siding, a metal roof, and a detached workshop. Inside, you will find a split-bedroom design: three bedrooms and one bath are situated on one side of the home, while the remaining two bedrooms and a second full bathroom sit on the opposite side of the central living and kitchen areas. Conveniently located just a few miles from downtown Crestview, the hospital, and interstate access, this is a 'must-see' for those seeking sweat equity or a solid long-term rental property. Note: This home may qualify for Vendee™ seller financing but may not qualify for all traditional financing.

7. 2025-11-07
   price $150,000
8. 2025-10-29
   price $175,000
9. 2025-10-23
   price $195,000
10. 2025-10-16
    price $212,000
11. 2025-10-03
    price $225,000
12. 2025-10-03
    status Active
13. 2025-08-01
    listed $69,900
14. 2021-04-14
    soldstatus $234,000
15. 2021-04-07
    soldstatus $234,000
16. 2021-04-07
    soldstatus $234,000 Sold
17. 2021-02-26
    status Pending
18. 2021-02-17
    listed $245,000 Active
19. 2021-02-17
    listed $245,000
20. 2012-07-25
    soldstatus $20,000
21. 2012-07-25
    soldstatus $20,000
22. 2011-01-06
    listed $35,000
23. 2010-09-06
    historical
24. 2008-10-02
    listed $79,900
25. 2008-10-02
    listed $79,900
26. 1996-06-20
    soldstatus $42,500

ⓘ 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: $3,096 · $258/mo
• Projected year-2 tax: $3,096 · $258/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $28,962
• − Mortgage interest: −$7,282
• − Property taxes: −$3,096
• − Insurance: −$650
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − Depreciation: −$3,782
• Taxable income: $9,519
• Est. tax owed @ 24.0%: −$2,285
• After-tax cash flow: $8,669/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

+205.9% since first listed

26 events — show timeline

• 2026-05-15 Pending — ECAR
• 2026-05-05 Relisted — ECAR
• 2026-04-24 Pending — ECAR
• 2026-04-08 Relisted — ECAR
• 2026-04-02 Pending — ECAR
• 2026-03-16 Listed $130,000 ECAR
• 2025-11-07 Price Changed $150,000 ECAR
• 2025-10-29 Price Changed $175,000 ECAR
• 2025-10-23 Price Changed $195,000 ECAR
• 2025-10-16 Price Changed $212,000 ECAR
• 2025-10-03 Price Changed $225,000 ECAR
• 2025-10-03 Relisted — ECAR
• 2025-08-01 Listed $69,900 ECAR
• 2021-04-14 Sold (Public Records) $234,000 Public Records
• 2021-04-07 Sold (MLS) $234,000 ECAR
• 2021-04-07 Sold (MLS) $234,000 NAMLS
• 2021-02-26 Pending — ECAR
• 2021-02-17 Listed $245,000 ECAR
• 2021-02-17 Listed $245,000 NAMLS
• 2012-07-25 Sold (MLS) $20,000 ECAR
• 2012-07-25 Sold (MLS) $20,000 NAMLS
• 2011-01-06 Listed $35,000 NAMLS
• 2010-09-06 Listing Removed — NAMLS
• 2008-10-02 Listed $79,900 NAMLS
• 2008-10-02 Listed $79,900 ECAR
• 1996-06-20 Sold (Public Records) $42,500 Public Records

Property tax history

+10.1%/yr

Latest (2025): $3,096 · +4.9% YoY. Source: county tax records.