701 Trowbridge Ave · Wright, FL 32547

$348,500

3 bd · 2.0 ba · 2,021 sqft · SingleFamily public records · 284 Days on market

Built 1979 10,454 sqft lot $172/sqft · 12% below area Est $396k · 12% under

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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).

• ARV discount +12.9/15.0
• Cash flow +8.1/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Brand new HVAC and new air ducts completed * Property does need some work, but seller is slowly making upgrades in the meantime. Seller is willing to add a new roof or help with closing costs. Welcome to this charming colonial-style two-story home nestled in the heart of Fort Walton Beach! This stunning property features 4 spacious bedrooms and 2.5 baths, offering ample space for comfortable living. The home's den is a versatile space that can easily serve as a fifth bedroom, perfect for guests or a home office. Situated on a desirable corner lot, this residence boasts an abundance of natural light and a lovely yard, ideal for outdoor gatherings or quiet relaxation.

Key facts

• New hvac
• Natural light
• New air ducts

Tags

• NEW HVAC
• NEW AIR DUCTS
• CORNER LOT
• NATURAL LIGHT
• LOVELY YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $348k.

Deal economics

• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (36.6% below list).
• Recommended offer: $221k (36.6% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 4.2% in Wright — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 80/100 on livability (#117 in FL, #1,790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities 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 soft (-0.1%/yr); 231 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 38% of the median local income ($71k/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 $10k 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 284 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $92k; list at $348k implies a 279% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,013 (36.6% 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 284 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.63% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• GRM: 13.1

CMA / ARV

• ARV (median comp): $395,613
• List price: $348,500
• Delta: -11.91%
• 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
122 Jimmy St	0.41mi	4/2.0 (+1)	2,003 (-1%)	4mo	$430,000	$215	71
912 Claeven Cir	0.53mi	3/2.0	1,942 (-4%)	5mo	$369,900	$190	64
805 Dawes Rd	0.58mi	3/2.0	1,950 (-4%)	5mo	$382,000	$196	63
642 Russell Blvd	0.42mi	4/2.0 (+1)	1,932 (-4%)	6mo	$519,000	$269	63
145 Manring Dr	0.64mi	4/2.0 (+1)	1,975 (-2%)	8mo	$437,500	$222	54
972 Claeven Cir	0.61mi	4/3.0 (+1)	2,128 (+5%)	1mo	$420,000	$197	53
997 Claeven Cir	0.58mi	4/2.0 (+1)	1,884 (-7%)	7mo	$375,000	$199	51
730 Colony Ct	0.64mi	4/2.0 (+1)	2,179 (+8%)	4mo	$444,000	$204	49
493 Hanover Port Ln	0.68mi	4/2.0 (+1)	2,197 (+9%)	1mo	$515,000	$234	48
783 Barley Port Ln	0.57mi	4/2.0 (+1)	2,302 (+14%)	0mo	$500,000	$217	45
949 Claeven Cir	0.60mi	4/2.0 (+1)	1,745 (-14%)	3mo	$360,000	$206	42
298 NW Briarwood Cir	0.74mi	4/3.0 (+1)	2,240 (+11%)	9mo	$375,000	$167	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.4%
• Equity multiple: 0.13×
• Total profit: $-84,988
• Equity at exit: $51,962

10-year hold

• IRR: -35.0%
• Equity multiple: -0.31×
• Total profit: $-127,867
• Equity at exit: $30,132

Cash invested: $97,580 (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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 231
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $2,210 high
• Mortgage (P&I): −$1,828
• Tax from tax record: −$117 /mo · $1,400/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-343

Break-even live

Break-even rent $2,645

Max offer price $287,823

Occupancy floor —

Sensitivity live

Price	-10% $-146	-5% $-245	+0% $-343	+5% $-442	+10% $-541
Rent	-10% $-518	-5% $-431	+0% $-343	+5% $-256	+10% $-169
Rate	-1.0pp $-168	-0.5pp $-255	base $-343	+0.5pp $-434	+1.0pp $-526

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: $87,125
• Closing costs: $10,455
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
713 Trowbridge Ave Fort Walton Beach, FL	3.0	2.0	1550	$2,350	$1.52	15d	1	0.11mi
204 Devon Ct Fort Walton Beach, FL	3.0	2.0	1599	$2,000	$1.25	45d	1	0.31mi
829 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,995	$1.33	45d	1	0.37mi
831 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,895	$1.26	45d	1	0.38mi
833 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,895	$1.26	45d	1	0.39mi
321 Woodrow St NE Fort Walton Beach, FL	1.0–3.0	1.0–2.0	1017	$1,850	$1.82	15d	6	0.93mi
1839 Sod Dr Fort Walton Beach, FL	3.0	2.0	1425	$1,925	$1.35	22d	1	1.12mi
818 Fairview Dr #4 Fort Walton Beach, FL	3.0	2.5	1750	$2,000	$1.14	15d	1	1.12mi
862 Fairview Dr Unit B Fort Walton Beach, FL	3.0	2.5	1568	$1,750	$1.12	45d	1	1.17mi
838 Fairview Dr Fort Walton Beach, FL	3.0	2.5	1608	$2,000	$1.24	45d	1	1.19mi
608 Manor Ct NW Fort Walton Beach, FL	4.0	2.5	2485	$2,900	$1.17	45d	1	1.25mi
16 Chelsea Dr NW Fort Walton Beach, FL	4.0	3.0	2089	$2,895	$1.39	22d	1	1.25mi
1004 McLaren Cir Fort Walton Beach, FL	3.0	2.5	1537	$2,500	$1.63	45d	1	1.28mi
309 Union St Fort Walton Beach, FL	3.0	2.0	1602	$2,100	$1.31	15d	1	1.30mi
1329 White Blossom Ln Fort Walton Beach, FL	3.0	2.5	1735	$1,900	$1.10	15d	1	1.39mi

Listing history 22 events

1. 2026-06-21
   days on market $348,500 Active 284 DOM
2. 2026-06-18
   days on market $348,500 Active 281 DOM
3. 2026-06-17
   days on market $348,500 Active 280 DOM
4. 2026-06-16
   days on market $348,500 Active 279 DOM
5. 2026-06-15
   days on market $348,500 Active 278 DOM
6. 2026-06-14
   days on market $348,500 Active 276 DOM
7. 2026-06-13
   days on market $348,500 Active 275 DOM
8. 2026-06-10
   days on market $348,500 Active 273 DOM
9. 2026-06-09
   days on market $348,500 Active 272 DOM
10. 2026-06-08
    days on market $348,500 Active 271 DOM
11. 2026-06-07
    days on market $348,500 Active 270 DOM
12. 2026-06-05
    days on market $348,500 Active 267 DOM
13. 2026-06-02
    days on market $348,500 Active 265 DOM
14. 2026-06-01
    days on market $348,500 Active 264 DOM
15. 2026-05-31
    days on market $348,500 Active 263 DOM
16. 2026-05-30
    days on market $348,500 Active 262 DOM
17. 2025-09-10
    status Active

    Show marketing remark (677 chars)

    * Brand new HVAC and new air ducts completed * Property does need some work, but seller is slowly making upgrades in the meantime. Seller is willing to add a new roof or help with closing costs. Welcome to this charming colonial-style two-story home nestled in the heart of Fort Walton Beach! This stunning property features 4 spacious bedrooms and 2.5 baths, offering ample space for comfortable living. The home's den is a versatile space that can easily serve as a fifth bedroom, perfect for guests or a home office. Situated on a desirable corner lot, this residence boasts an abundance of natural light and a lovely yard, ideal for outdoor gatherings or quiet relaxation.

18. 2025-09-10
    listed $348,500 Active 677-char remark

    Show marketing remark (677 chars)

    * Brand new HVAC and new air ducts completed * Property does need some work, but seller is slowly making upgrades in the meantime. Seller is willing to add a new roof or help with closing costs. Welcome to this charming colonial-style two-story home nestled in the heart of Fort Walton Beach! This stunning property features 4 spacious bedrooms and 2.5 baths, offering ample space for comfortable living. The home's den is a versatile space that can easily serve as a fifth bedroom, perfect for guests or a home office. Situated on a desirable corner lot, this residence boasts an abundance of natural light and a lovely yard, ideal for outdoor gatherings or quiet relaxation.

19. 2025-06-05
    status Active
20. 2025-05-20
    price $348,500
21. 2024-12-03
    listed $350,000 Active
22. 1985-07-01
    soldstatus $92,000

ⓘ 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: $1,400 · $117/mo
• Projected year-2 tax: $2,893 · $241/mo
• Expected delta: +$1,492/yr (+$124/mo · 106.5%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,522
• − Mortgage interest: −$19,521
• − Property taxes: −$1,400
• − Insurance: −$1,742
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − Depreciation: −$10,138
• Taxable loss: −$10,524
• Est. tax savings @ 24.0%: +$2,526
• After-tax cash flow: $-1,596/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 — Wright

• Score: 80/100
• State rank: #117
• US rank: #1790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wright, FL
• County: Okaloosa County · 194,352 people
• City population: 35,522
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

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 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 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: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

+278.8% since first listed

6 events — show timeline

• 2025-09-10 Relisted — ECAR
• 2025-09-10 Listed $348,500 ECAR
• 2025-06-05 Relisted — ECAR
• 2025-05-20 Price Changed $348,500 ECAR
• 2024-12-03 Listed $350,000 ECAR
• 1985-07-01 Sold (Public Records) $92,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,400 · +3.4% YoY. Source: county tax records.