1321 Sunshine Dr · Crestview, FL 32539

$139,000

3 bd · 2.0 ba · 1,128 sqft · SingleFamily public records · 12 Days on market

Built 1983 Average condition 0.36 ac lot $123/sqft · 39% below area Est $227k · 39% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +5.4/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity with major upside potential! This home was mostly remodeled prior to a pipe break over the winter, and much of the restoration work has already begun. Drywall has been demoed and partially replaced, and the property features brand-new flooring throughout. Situated on a super large lot with plenty of space and possibilities, this is a great opportunity for investors, flippers, or buyers looking to add their finishing touches and build equity.

Key facts

• 0.36 acre lot
• Built 1983
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 11.6% vs local median 4.5% 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: Walker Elementary School (math 52% / reading 55%, grade C, #949 of 2,144 statewide, top 45%, 864 students, 61% FRL); Crestview High School (math 49% / reading 54%, grade D+, #167 of 667 statewide, top 25%, 2,315 students, 42% FRL) — zoned schools average 52% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 925 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 31% 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 $961 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 $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 29y 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.
• Current owner paid $82k; list at $139k implies a 70% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.84%
• DSCR: 1.84
• GRM: 6.1

CMA / ARV

• ARV (median comp): $226,698
• List price: $139,000
• Delta: -38.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2941 Mccarty Ave	0.85mi	3/2.0	1,130 (+0%)	2mo	$230,000	$204	63
1304 Pinewood Ln	0.25mi	3/2.0	1,300 (+15%)	1mo	$225,900	$174	62
5530 Royal St	0.90mi	3/2.0	1,242 (+10%)	0mo	$225,000	$181	48
5516 Royal St	0.95mi	3/2.0	1,232 (+9%)	2mo	$227,601	$185	48
2830 Blackbird Ct	0.61mi	3/2.0	1,337 (+18%)	2mo	$282,000	$211	44
215 Jones Rd	0.98mi	3/1.5	1,218 (+8%)	7mo	$220,000	$181	44
1126 Farmer St	0.54mi	3/2.0	1,327 (+18%)	8mo	$220,000	$166	44
402 Serene Ct	1.10mi	3/2.0	1,238 (+10%)	6mo	$250,000	$202	43
2829 Blackbird Ct	0.70mi	3/2.0	1,337 (+18%)	4mo	$278,000	$208	39
2833 Blackbird Ct	0.70mi	3/2.0	1,337 (+18%)	6mo	$275,000	$206	38
548 Hyde Park Dr	1.10mi	3/2.0	1,276 (+13%)	7mo	$266,000	$208	38
296 Park Ln	0.99mi	3/2.0	1,328 (+18%)	6mo	$293,000	$221	35

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: 7.5%
• Equity multiple: 1.28×
• Total profit: $11,002
• Equity at exit: $20,725

10-year hold

• IRR: 14.2%
• Equity multiple: 2.00×
• Total profit: $38,811
• Equity at exit: $12,018

Cash invested: $38,920 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 5 under contract
• Months of supply: 11.3 mo (9%/mo absorbed)
• Median asking: $259,900 ($205/sqft)
• Median days on market: 70 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -1.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32539

• Home prices YoY: -17.8%
• Rents YoY: 0.1%
• Active inventory: 925
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$729
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $611

Break-even live

Break-even rent $1,136

Max offer price $139,000

Occupancy floor 63%

Sensitivity live

Price	-10% $690	-5% $650	+0% $611	+5% $572	+10% $532
Rent	-10% $460	-5% $536	+0% $611	+5% $686	+10% $762
Rate	-1.0pp $681	-0.5pp $646	base $611	+0.5pp $575	+1.0pp $538

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: $34,750
• Closing costs: $4,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2955 Sholtz Ave Crestview, FL	3.0	2.0	1144	$1,600	$1.40	10d	1	0.80mi
2942 Sholtz Ave Crestview, FL	3.0	2.0	1266	$1,600	$1.26	184d	1	0.82mi
3017 Airport Rd Crestview, FL	3.0	2.0	1488	$2,250	$1.51	10d	1	0.85mi
188 Park Ln Crestview, FL	3.0	2.0	1328	$1,800	$1.36	51d	1	0.88mi
111 Shady Ln Crestview, FL	3.0	2.0	1415	$2,100	$1.48	10d	1	0.89mi
6260 Old Bethel Rd Crestview, FL	3.0	2.0	1513	$2,147	$1.42	1d	11	0.95mi
502 Hyde Park Dr Crestview, FL	3.0	2.0	1302	$1,795	$1.38	154d	1	1.01mi
328 Callie Dr Crestview, FL	3.0	2.5	1460	$1,850	$1.27	51d	1	1.03mi
824 Valley Rd Crestview, FL	3.0	2.0	1423	$1,900	$1.34	51d	1	1.04mi
815 Valley Rd Crestview, FL	3.0	2.5	1373	$1,550	$1.13	184d	1	1.05mi
205 Powell Dr Crestview, FL	3.0	1.5	1008	$1,400	$1.39	184d	1	1.11mi
129 Jeff Dr Crestview, FL	3.0	2.0	1050	$1,700	$1.62	10d	1	1.47mi

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Community waterElectricitySeptic tankPhone serviceCable TV
• Home design: One storyContemporary architectural style
• Construction: Built in 1983Frame construction with vinyl sidingComposite shingle roofSlab foundation
• Exterior features: Private yardCounty road frontagePaved road access

Interior

• Kitchen: Dishwasher, refrigerator
• Bedrooms: 3 bedroomsPrimary bedroom on the first floor
• Flooring: Tile flooring
• Bathrooms: 2 full bathroomsPrimary bathroom with shower only and tile
• Heating & cooling: Central heatingCentral air conditioning

Listing history 50 events

1. 2026-11-08
   days on market $139,000 Active 12 DOM
2. 2026-11-07
   days on market $139,000 Active 11 DOM
3. 2026-11-06
   days on market $139,000 Active 10 DOM
4. 2026-11-05
   days on market $139,000 Active 9 DOM
5. 2026-11-04
   days on market $139,000 Active 8 DOM
6. 2026-11-02
   days on market $139,000 Active 6 DOM
7. 2026-11-01
   days on market $139,000 Active 5 DOM
8. 2026-10-31
   days on market $139,000 Active 4 DOM
9. 2026-10-30
   days on market $139,000 Active 3 DOM
10. 2026-10-29
    days on market $139,000 Active 2 DOM
11. 2026-10-27
    pricedays on marketlisting id $139,000 Active 1 DOM
12. 2026-09-20
    days on market $159,900 Active 132 DOM
13. 2026-09-19
    days on market $159,900 Active 131 DOM
14. 2026-09-18
    days on market $159,900 Active 130 DOM
15. 2026-09-17
    days on market $159,900 Active 129 DOM
16. 2026-09-16
    days on market $159,900 Active 128 DOM
17. 2026-09-15
    days on market $159,900 Active 127 DOM
18. 2026-09-14
    days on market $159,900 Active 126 DOM
19. 2026-09-13
    days on market $159,900 Active 125 DOM
20. 2026-09-12
    days on market $159,900 Active 124 DOM
21. 2026-09-11
    days on market $159,900 Active 123 DOM
22. 2026-09-05
    days on market $159,900 Active 117 DOM
23. 2026-09-04
    days on market $159,900 Active 116 DOM
24. 2026-09-03
    days on market $159,900 Active 115 DOM
25. 2026-08-31
    days on market $159,900 Active 112 DOM
26. 2026-08-30
    days on market $159,900 Active 111 DOM
27. 2026-08-29
    days on market $159,900 Active 110 DOM
28. 2026-08-28
    days on market $159,900 Active 109 DOM
29. 2026-08-27
    days on market $159,900 Active 108 DOM
30. 2026-08-26
    days on market $159,900 Active 107 DOM
31. 2026-08-25
    days on market $159,900 Active 106 DOM
32. 2026-08-24
    days on market $159,900 Active 105 DOM
33. 2026-08-23
    days on market $159,900 Active 104 DOM
34. 2026-08-22
    days on market $159,900 Active 103 DOM
35. 2026-08-21
    days on market $159,900 Active 102 DOM
36. 2026-08-20
    days on market $159,900 Active 101 DOM
37. 2026-08-19
    days on market $159,900 Active 100 DOM
38. 2026-08-18
    days on market $159,900 Active 99 DOM
39. 2026-08-17
    days on market $159,900 Active 98 DOM
40. 2026-08-16
    days on market $159,900 Active 97 DOM
41. 2026-08-15
    days on market $159,900 Active 96 DOM
42. 2026-08-14
    days on market $159,900 Active 95 DOM
43. 2026-08-13
    days on market $159,900 Active 94 DOM
44. 2026-08-12
    days on market $159,900 Active 93 DOM
45. 2026-08-11
    days on market $159,900 Active 92 DOM
46. 2026-08-10
    days on market $159,900 Active 91 DOM
47. 2026-08-09
    days on market $159,900 Active 90 DOM
48. 2026-08-08
    days on market $159,900 Active 89 DOM
49. 2026-08-07
    days on market $159,900 Active 88 DOM
50. 2026-08-06
    days on market $159,900 Active 87 DOM

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $1,331 · $111/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 9/10 Extreme 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: $22,918
• − Mortgage interest: −$7,786
• − Property taxes: −$1,331
• − Insurance: −$695
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$4,044
• Taxable income: $5,395
• Est. tax owed @ 24.0%: −$1,295
• After-tax cash flow: $6,037/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.

Condition & rehab AI · 6 photos

Average 55/100 Moderate rehab Est. rehab $28,200–$50,760 screening

This home has been mostly remodeled but requires some drywall repairs and exterior painting to be move-in ready.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Ceiling (roof) — Exposed beams and missing ceiling panels indicate significant structural damage.
• Major Floor (flooring) — Exposed subfloor and missing flooring indicate significant structural damage.
• Major Windows (windows) — Exposed framing and missing windows indicate significant structural damage.
• Major Electrical (electrical) — Exposed wiring and missing electrical components indicate significant structural damage.
• Major Plumbing (plumbing) — Exposed plumbing and missing fixtures indicate significant structural damage.

Repairs flagged

• Major drywall — Drywall partially replaced, some areas unfinished
• Major interior walls — Drywall partially replaced, some areas unfinished

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Resale Paint interior walls — Completes the renovation and improves appearance ↑
• Resale Replace damaged drywall — Ensures a finished look and improved safety ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Walker Elementary School C FL #949/2,144 Nat'l #10,846/41,679 Middle Davidson Middle School B FL #157/571 Nat'l #2,146/14,009 High Crestview High School D+ FL #167/667 Nat'l #5,269/17,239

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

B Composite livability gradescore 75/100

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 · 235,133 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: 16% of renters

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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%

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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%
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

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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

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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

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Community waterElectricitySeptic tankPhone serviceCable TV
• Home design: One storyContemporary architectural style
• Construction: Built in 1983Frame construction with vinyl sidingComposite shingle roofSlab foundation
• Exterior features: Private yardCounty road frontagePaved road access

Interior

• Kitchen: Dishwasher, refrigerator
• Bedrooms: 3 bedroomsPrimary bedroom on the first floor
• Flooring: Tile flooring
• Bathrooms: 2 full bathroomsPrimary bathroom with shower only and tile
• Heating & cooling: Central heatingCentral air conditioning

Price history

+334.4% since first listed

18 events — show timeline

• 2026-10-27 Listed $139,000 ECAR
• 2026-05-11 Listed $159,900 ECAR
• 2012-12-31 Listing Removed — NAMLS
• 2011-07-29 Listed $85,000 NAMLS
• 2011-07-29 Listed $85,000 ECAR
• 2010-07-14 Listing Removed — NAMLS
• 2010-05-03 Listed $99,500 NAMLS
• 2010-05-03 Listed $99,500 ECAR
• 2008-06-03 Sold (Public Records) $82,000 Public Records
• 2008-06-02 Sold (MLS) $82,000 NAMLS
• 2008-06-02 Sold (MLS) $82,000 ECAR
• 2008-04-11 Listed $89,900 NAMLS
• 2008-04-11 Listed $89,900 ECAR
• 2003-12-30 Sold (Public Records) $65,000 Public Records
• 1998-06-24 Sold (Public Records) $59,500 Public Records
• 1998-06-23 Sold (MLS) $59,500 NAMLS
• 1997-08-10 Listed $59,500 NAMLS
• 1990-04-01 Sold (Public Records) $32,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,331 · +3.6% YoY. Source: county tax records.