5898 Independence Dr · Milton, FL 32570

$245,000

3 bd · 2.0 ba · 1,374 sqft · SingleFamily public records · 10 Days on market

Built 1978 6,969 sqft lot Est $217k · 13% over

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Why this score? — see what drove the F 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 +11.5/30.0
• Schools +5.3/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +3.2/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home. Excellent location. Deck and shed to convey in as is condition. Cleared side driveway to back carport. Washer/Dryer will not convey. Showing instructions. Please call LA for easy showing. Supra location to be noted.

Key facts

• Shed
• Private entrance
• Deck

Tags

• SEPARATE LIVING AREAS
• PRIVATE ENTRANCE
• DECK
• SHED
• CLEARED SIDE DRIVEWAY

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Two total parking spaces; Covered 2-car carport (2 spaces per unit)
• Utilities: Public water; Public sewer; Copper electrical wiring
• Home design: Resale single-family property; Ground-floor level / single-story; Not attached to other properties
• Construction: Frame construction; Slab foundation
• Exterior features: Shingle roof; Interior lot with central access; Paved, public-maintained road

Interior

• Kitchen: Updated kitchen (stove and refrigerator replaced in 2025); Electric water heater; ENERGY STAR qualified refrigerator and appliances
• Bedrooms: Master bedroom on the first floor (approx. 11' x 14'); Additional bedrooms on the first floor (one approx. 9.5' x 11')
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: Two full bathrooms on the first floor; Bathrooms updated within the last 1–5 years (sinks, toilets and tubs replaced)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile and vinyl flooring; Updated kitchen; Updated bathrooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-82 ($-979/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (23.7% below list).
• Recommended offer: $187k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.6% in Milton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#166 in FL, #2,480 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• 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.
• Market conditions: Rents rising (+2.7%/yr); 360 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 22y 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 $163k; list at $245k implies a 50% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,831 (23.7% 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. Built in 1978 — 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. 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?
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: 0.76% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $217,092
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6608 Magnolia St	0.28mi	3/2.0	1,307 (-5%)	1mo	$215,000	$164	78
6052 Savannah Dr	0.34mi	3/2.0	1,320 (-4%)	2mo	$230,000	$174	76
5999 Savannah Dr	0.24mi	3/2.0	1,463 (+6%)	6mo	$230,000	$157	73
6481 Colonial Dr	0.19mi	3/1.5	1,507 (+10%)	6mo	$105,000	$70	68
5913 Savannah Dr	0.29mi	3/2.0	1,532 (+12%)	4mo	$242,050	$158	64
6582 Lee St	0.32mi	4/2.0 (+1)	1,469 (+7%)	5mo	$195,000	$133	64
6504 Julia Dr	0.55mi	3/1.0	1,324 (-4%)	5mo	$183,900	$139	60
6415 Julia Dr	0.43mi	3/1.0	1,252 (-9%)	4mo	$190,000	$152	58
6606 Lee St	0.34mi	3/2.0	1,564 (+14%)	5mo	$240,000	$153	57
5796 Washington St	0.45mi	3/2.0	1,200 (-13%)	4mo	$199,900	$167	55
6740 Cotter Dr	0.49mi	3/2.0	1,218 (-11%)	6mo	$225,000	$185	53
6426 Walnut St	0.48mi	2/1.0 (-1)	1,185 (-14%)	1mo	$200,000	$169	45

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 · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.34×
• Total profit: $-45,514
• Equity at exit: $36,530

10-year hold

• IRR: -12.2%
• Equity multiple: 0.29×
• Total profit: $-48,841
• Equity at exit: $21,183

Cash invested: $68,600 (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 32570

• Home prices YoY: -15.1%
• Rents YoY: 2.7%
• Active inventory: 360
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$171 /mo · $2,048/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-82

Break-even live

Break-even rent $1,972

Max offer price $230,588

Occupancy floor 99%

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6716 Barnwood Dr Milton, FL	3.0	2.0	1753	$1,850	$1.06	23d	1	0.39mi
5733 Orange St Milton, FL	3.0	1.5	1640	$1,500	$0.91	23d	1	0.40mi
6707 Cedar Ridge Cir Milton, FL	3.0	2.5	1669	$1,900	$1.14	14d	1	0.41mi
6747 Weathered Dr Milton, FL	3.0	2.0	1546	$1,800	$1.16	23d	1	0.45mi
6460 Stewart St Milton, FL	1.0–3.0	1.0–2.0	872	$1,500	$1.72	23d	1	1.05mi
5723 Maggie Rose Cir Milton, FL	3.0	2.0	1610	$2,000	$1.24	23d	1	1.12mi
5723 Maggie Rose Cir Milton, FL	3.0	2.0	1610	$2,000	$1.24	14d	1	1.12mi
5394 Munson Hwy Milton, FL	2.0	2.0	900	$1,250	$1.39	14d	1	1.33mi
5357 Locklin Ave Milton, FL	3.0	1.0	1100	$1,700	$1.55	14d	1	1.38mi
5461 Collins Mill Creek Dr Milton, FL	2.0	2.0	950	$1,672	$1.76	14d	4	1.47mi

Listing history 9 events

1. 2026-06-18
   days on market $245,000 Active 10 DOM
2. 2026-06-17
   days on market $245,000 Active 9 DOM
3. 2026-06-16
   days on market $245,000 Active 8 DOM
4. 2026-06-15
   days on market $245,000 Active 7 DOM
5. 2026-06-14
   days on market $245,000 Active 5 DOM
6. 2026-06-13
   days on market $245,000 Active 4 DOM
7. 2026-06-10
   days on market $245,000 Active 2 DOM
8. 2026-06-09
   remarks 402-char remark
9. 2026-06-09
   listed $245,000 Active 1 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: $2,048 · $171/mo
• Projected year-2 tax: $2,048 · $171/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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,420
• − Mortgage interest: −$13,724
• − Property taxes: −$2,048
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − Depreciation: −$7,127
• Taxable loss: −$5,291
• Est. tax savings @ 24.0%: +$1,270
• After-tax cash flow: $291/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 — Milton

• Score: 78/100
• State rank: #166
• US rank: #2480

Category grades

Amenities D- Commute F Cost of living A+ Crime B- Employment B+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milton, FL
• County: Santa Rosa County · 194,764 people
• City population: 69,025
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 37,197
• Household income: $77,222
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 590.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 7% Black 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -51.06%
• Current HPI: 287.7469
• Rent YoY: ▲ 2.70%
• 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

+716.7% since first listed

22 events — show timeline

• 2026-06-08 Listed $245,000 PARMLS
• 2021-02-19 Sold (Public Records) $163,000 Public Records
• 2021-02-17 Sold (MLS) $163,000 ECAR
• 2021-02-17 Sold (MLS) $163,000 PARMLS
• 2021-02-17 Sold (MLS) $163,000 NAMLS
• 2021-01-14 Listed $164,950 PARMLS
• 2021-01-12 Listing Removed — PARMLS
• 2020-10-15 Listed $164,950 PARMLS
• 2020-10-15 Listed $164,950 ECAR
• 2020-10-15 Listed $164,950 NAMLS
• 2017-11-09 Sold (Public Records) $112,000 Public Records
• 2017-11-08 Sold (MLS) $112,000 PARMLS
• 2017-05-30 Listed $112,000 PARMLS
• 2015-04-10 Sold (MLS) $27,000 PARMLS
• 2014-12-24 Listed $29,900 PARMLS
• 2005-03-02 Sold (Public Records) $62,500 Public Records
• 2005-02-08 Listed $62,500 PARMLS
• 2004-12-29 Listing Removed — PARMLS
• 2004-08-09 Listing Removed — PARMLS
• 2004-07-26 Listed $62,500 PARMLS
• 2004-07-26 Listed $62,500 PARMLS
• 1978-09-01 Sold (Public Records) $30,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,048 · -3.7% YoY. Source: county tax records.