2665 Saltgrass Way · Crestview, FL 32536

$283,000

4 bd · 2.0 ba · 1,454 sqft · SingleFamily public records · 62 Days on market

Built 2024 0.27 ac lot $195/sqft · 5% below area Est $299k · 5% under $25/mo HOA · 1% of rent ↓ 2% since listing

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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 +11.0/30.0
• ARV discount +9.9/15.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• DSCR +3.2/10.0
• Rent growth +2.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BETTER THAN NEW•FULLY FENCED YARD•UPGRADES DONE FOR YOU•MOVE IN READY Skip the wait and extra expense, this 4/2home truly feels better than new construction w/ upgrades already completed for you.Step inside to a spacious open floorplan with LVP flooring throughout, including all bedrooms, giving a clean and cohesive look.The kitchen offers a functional layout with an updated faucet, stainless appliances, and fridge included.The living area flows easily for everyday living and entertaining.The PRIMARY SUITE features a large window overlooking the backyard, bringing in great natural light, along w/ upgraded closet system for better organization.Addl bedrooms provide flexibility for guests, office space, or family needs.Out back you'll find a FULLY FENCED yard.

Key facts

• Security system
• Fully fenced yard
• 0.27 acre lot

Tags

• FULLY FENCED YARD
• UPGRADED CLOSET SYSTEM
• UPDATED KITCHEN FAUCET
• FLOWER BED LANDSCAPING
• SECURITY SYSTEM

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $300 (includes association services)

Exterior

• Parking: Attached 2-car garage with garage door opener; Two covered parking spaces (total 2 parking spaces)
• Security: Security system
• Utilities: Copper wiring; Septic tank sewer; Cable available; County-maintained road
• Home design: Single-story home; Detached property; Frame construction
• Construction: Shingle roof; Slab foundation; Frame construction; Resale property; Insulation included for energy efficiency
• Exterior features: Porch; Rain gutters; Privacy fencing; Central access to the lot

Interior

• Kitchen: Pantry; Built-in microwave; Dishwasher; Electric water heater
• Bedrooms: Primary bedroom on the first floor (approx. 12' x 13')
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans for additional cooling
• Interior features: Baseboards; Ceiling fans; High ceilings; Recessed lighting; Blinds; Drapery rods
• Laundry & utility: Washer and dryer included; Laundry inside with washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $283k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (24.5% below list).
• Recommended offer: $214k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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 rising (+1.2%/yr); 351 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 33% of the median local income ($78k/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 $8k 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 62 days — a 6% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Recommended offer $213,784 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.81%
• DSCR: 0.92
• GRM: 11.0

CMA / ARV

• ARV (median comp): $298,695
• List price: $283,000
• Delta: -5.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2659 Saltgrass Way	0.04mi	4/2.0	1,387 (-5%)	9mo	$280,329	$202	83
2671 Saltgrass Way	0.04mi	4/2.0	1,437 (-1%)	24mo	$289,900	$202	76
2806 Tallgrass Ct	0.07mi	4/2.0	1,387 (-5%)	20mo	$279,000	$201	73
2608 Saltgrass Way	0.09mi	4/2.0	1,387 (-5%)	22mo	$279,900	$202	70
2805 Tallgrass Ct	0.12mi	4/2.0	1,387 (-5%)	21mo	$279,900	$202	70
2810 Tallgrass Ct	0.07mi	4/2.0	1,387 (-5%)	24mo	$289,900	$209	69
2809 Tallgrass Ct	0.12mi	4/2.0	1,387 (-5%)	23mo	$290,900	$210	68
2610 Saltgrass Way	0.14mi	4/2.0	1,387 (-5%)	24mo	$284,900	$205	66
5981 Creekside Cir	0.45mi	3/2.0 (-1)	1,584 (+9%)	8mo	$279,000	$176	52
2611 Saltgrass Way	0.71mi	4/2.0	1,454 (0%)	23mo	$284,870	$196	48
5900 Silvercrest Blvd	0.70mi	3/2.0 (-1)	1,605 (+10%)	14mo	$331,939	$207	34
2648 Prominence Ln	0.72mi	3/2.0 (-1)	1,605 (+10%)	22mo	$341,939	$213	25

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 · 1.17% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.28×
• Total profit: $-57,397
• Equity at exit: $42,196

10-year hold

• IRR: -19.3%
• Equity multiple: 0.05×
• Total profit: $-75,312
• Equity at exit: $24,469

Cash invested: $79,240 (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 32536

• Home prices YoY: -16.2%
• Rents YoY: 1.2%
• Active inventory: 351
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,138 high
• Mortgage (P&I): −$1,484
• Tax from tax record: −$181 /mo · $2,177/yr
• Insurance: −$118
• HOA: −$25
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-120

Break-even live

Break-even rent $2,289

Max offer price $261,881

Occupancy floor —

Sensitivity live

Price	-10% $41	-5% $-39	+0% $-120	+5% $-200	+10% $-280
Rent	-10% $-288	-5% $-204	+0% $-120	+5% $-35	+10% $49
Rate	-1.0pp $23	-0.5pp $-48	base $-120	+0.5pp $-193	+1.0pp $-267

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: $70,750
• Closing costs: $8,490
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2606 Saltgrass Way Crestview, FL	4.0	2.0	1387	$1,850	$1.33	23d	1	0.16mi
6381 Havenmist Ln Crestview, FL	4.0	2.0	1844	$1,900	$1.03	45d	1	0.19mi
2624 Saltgrass Way Crestview, FL	4.0	2.0	1747	$1,895	$1.08	45d	1	0.74mi
2823 Lake Silver Rd Crestview, FL	3.0	2.0	1595	$2,300	$1.44	45d	1	1.02mi
2544 Kingston Rd Crestview, FL	3.0	2.0	1533	$2,095	$1.37	23d	1	1.13mi
6260 Old Bethel Rd Crestview, FL	1.0–3.0	1.0–2.0	1253	$2,295	$1.83	15d	66	1.20mi
6231 Flash Ln Crestview, FL	3.0	2.0	1673	$1,900	$1.14	15d	1	1.37mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 35 events

1. 2026-06-21
   days on market $283,000 Active 62 DOM
2. 2026-06-18
   days on market $283,000 Active 59 DOM
3. 2026-06-17
   days on market $283,000 Active 58 DOM
4. 2026-06-16
   days on market $283,000 Active 57 DOM
5. 2026-06-15
   days on market $283,000 Active 56 DOM
6. 2026-06-14
   days on market $283,000 Active 54 DOM
7. 2026-06-13
   pricedays on market $283,000 Active 53 DOM
8. 2026-06-10
   days on market $286,900 Active 51 DOM

   Show marketing remark (783 chars)

   BETTER THAN NEW•FULLY FENCED YARD•UPGRADES DONE FOR YOU•MOVE IN READY Skip the wait and extra expense, this 4/2home truly feels better than new construction w/ upgrades already completed for you.Step inside to a spacious open floorplan with LVP flooring throughout, including all bedrooms, giving a clean and cohesive look.The kitchen offers a functional layout with an updated faucet, stainless appliances, and fridge included.The living area flows easily for everyday living and entertaining.The PRIMARY SUITE features a large window overlooking the backyard, bringing in great natural light, along w/ upgraded closet system for better organization.Addl bedrooms provide flexibility for guests, office space, or family needs.Out back you'll find a FULLY FENCED yard.

9. 2026-06-09
   days on market $286,900 Active 50 DOM
10. 2026-06-08
    days on market $286,900 Active 49 DOM
11. 2026-06-07
    days on market $286,900 Active 48 DOM
12. 2026-06-05
    days on market $286,900 Active 45 DOM
13. 2026-06-02
    days on market $286,900 Active 43 DOM
14. 2026-06-01
    days on market $286,900 Active 42 DOM
15. 2026-05-31
    days on market $286,900 Active 41 DOM
16. 2026-05-30
    days on market $286,900 Active 40 DOM
17. 2026-04-20
    listed $286,900 Active 783-char remark

    Show marketing remark (783 chars)

    BETTER THAN NEW•FULLY FENCED YARD•UPGRADES DONE FOR YOU•MOVE IN READY Skip the wait and extra expense, this 4/2home truly feels better than new construction w/ upgrades already completed for you.Step inside to a spacious open floorplan with LVP flooring throughout, including all bedrooms, giving a clean and cohesive look.The kitchen offers a functional layout with an updated faucet, stainless appliances, and fridge included.The living area flows easily for everyday living and entertaining.The PRIMARY SUITE features a large window overlooking the backyard, bringing in great natural light, along w/ upgraded closet system for better organization.Addl bedrooms provide flexibility for guests, office space, or family needs.Out back you'll find a FULLY FENCED yard.

18. 2026-04-20
    listed $286,900 Active 1146-char remark

    Show marketing remark (783 chars)

    BETTER THAN NEW•FULLY FENCED YARD•UPGRADES DONE FOR YOU•MOVE IN READY Skip the wait and extra expense, this 4/2home truly feels better than new construction w/ upgrades already completed for you.Step inside to a spacious open floorplan with LVP flooring throughout, including all bedrooms, giving a clean and cohesive look.The kitchen offers a functional layout with an updated faucet, stainless appliances, and fridge included.The living area flows easily for everyday living and entertaining.The PRIMARY SUITE features a large window overlooking the backyard, bringing in great natural light, along w/ upgraded closet system for better organization.Addl bedrooms provide flexibility for guests, office space, or family needs.Out back you'll find a FULLY FENCED yard.

19. 2026-02-22
    price $286,900
20. 2026-01-27
    price $292,500
21. 2025-11-17
    listed $295,000 Active
22. 2025-11-11
    price $295,000
23. 2025-10-18
    listed $299,000 Active
24. 2024-03-29
    soldstatus $280,900 Sold
25. 2024-03-11
    status Pending
26. 2024-02-26
    price $290,900
27. 2024-02-21
    price $289,900
28. 2024-01-29
    price $299,900
29. 2024-01-24
    price $297,900
30. 2024-01-18
    price $294,900
31. 2024-01-15
    price $293,900
32. 2024-01-05
    price $292,900
33. 2023-12-19
    price $291,900
34. 2023-12-11
    price $290,900
35. 2023-10-26
    listed $289,900 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: $2,177 · $181/mo
• Projected year-2 tax: $2,349 · $196/mo
• Expected delta: +$172/yr (+$14/mo · 7.9%)

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

Taxation est. · year 1

• Rental income: $25,654
• − Mortgage interest: −$15,852
• − Property taxes: −$2,177
• − Insurance: −$1,415
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − HOA: −$300
• − Depreciation: −$8,233
• Taxable loss: −$6,428
• Est. tax savings @ 24.0%: +$1,543
• After-tax cash flow: $108/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): 25,599
• Household income: $78,119
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 634.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 7% Tagalog/Filipino 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: ▼ -51.48%
• Current HPI: 265.9926
• Rent YoY: ▲ 1.17%
• 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

-2.4% since first listed

21 events — show timeline

• 2026-06-10 Price Changed $283,000 NAMLS
• 2026-06-10 Price Changed $283,000 PARMLS
• 2026-04-20 Listed $286,900 PARMLS
• 2026-04-20 Listed $286,900 NAMLS
• 2026-02-22 Price Changed $286,900 ECAR
• 2026-01-27 Price Changed $292,500 ECAR
• 2025-11-17 Listed $295,000 ECAR
• 2025-11-11 Price Changed $295,000 ECAR
• 2025-10-18 Listed $299,000 ECAR
• 2024-03-29 Sold (MLS) $280,900 ECAR
• 2024-03-11 Pending — ECAR
• 2024-02-26 Price Changed $290,900 ECAR
• 2024-02-21 Price Changed $289,900 ECAR
• 2024-01-29 Price Changed $299,900 ECAR
• 2024-01-24 Price Changed $297,900 ECAR
• 2024-01-18 Price Changed $294,900 ECAR
• 2024-01-15 Price Changed $293,900 ECAR
• 2024-01-05 Price Changed $292,900 ECAR
• 2023-12-19 Price Changed $291,900 ECAR
• 2023-12-11 Price Changed $290,900 ECAR
• 2023-10-26 Listed $289,900 ECAR

Property tax history

+612.2%/yr

Latest (2025): $2,177 · +351.0% YoY. Source: county tax records.