3516 Malus Ct · Crestview, FL 32539

$344,000

5 bd · 3.0 ba · 2,477 sqft · SingleFamily public records · 76 Days on market

Built 2022 0.38 ac lot $139/sqft · at area comps Est $363k · 5% under $14/mo HOA · 1% of rent

---

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 +9.8/15.0
• Cash flow +8.9/30.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

Key facts

• 0.38 acre lot
• 2 garage spots
• Built 2022

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $344k.

Deal economics

• At list price, monthly cash flow is $-276 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (28.6% below list).
• Recommended offer: $246k (28.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.4% in Crestview — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 40% 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 $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 76 days — a 6% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,539 (28.6% 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 76 days. Have you received any prior offers? Is the seller open to a 29% 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: 0.71% ✗
• Cap rate: 5.33%
• Cash-on-cash: -3.44%
• DSCR: 0.85
• GRM: 11.7

CMA / ARV

• ARV (median comp): $362,924
• List price: $344,000
• Delta: -5.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3522 Sugar Maple Ln	0.17mi	5/3.0	2,575 (+4%)	6mo	$340,000	$132	81
3501 Malus Ct	0.14mi	5/3.0	2,530 (+2%)	12mo	$354,900	$140	80
3505 Sugar Maple Ln	0.17mi	5/3.0	2,530 (+2%)	14mo	$350,000	$138	77
3535 Sugar Maple Ln	0.29mi	5/3.0	2,530 (+2%)	11mo	$310,000	$123	74
3531 Sugar Maple Ln	0.26mi	5/3.0	2,530 (+2%)	18mo	$347,500	$137	69
3472 Sparco Dr	0.40mi	5/3.0	2,525 (+2%)	22mo	$380,000	$150	60
3545 Sugar Maple Ln	0.36mi	4/2.0 (-1)	2,238 (-10%)	0mo	$265,000	$118	58
3470 Sparco Dr	0.42mi	4/2.0 (-1)	2,347 (-5%)	18mo	$335,000	$143	48
6210 Lapis Ln	0.74mi	4/3.0 (-1)	2,785 (+12%)	2mo	$399,999	$144	38

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: -25.1%
• Equity multiple: 0.17×
• Total profit: $-80,321
• Equity at exit: $51,292

10-year hold

• IRR: -31.9%
• Equity multiple: -0.24×
• Total profit: $-119,649
• Equity at exit: $29,743

Cash invested: $96,320 (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: 11.7×

Monthly cashflow live

• Estimated rent: $2,455 high
• Mortgage (P&I): −$1,804
• Tax from tax record: −$255 /mo · $3,058/yr
• Insurance: −$143
• HOA: −$14
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $-276

Break-even live

Break-even rent $2,805

Max offer price $295,183

Occupancy floor —

Sensitivity live

Price	-10% $-82	-5% $-179	+0% $-276	+5% $-374	+10% $-471
Rent	-10% $-470	-5% $-373	+0% $-276	+5% $-179	+10% $-82
Rate	-1.0pp $-103	-0.5pp $-189	base $-276	+0.5pp $-365	+1.0pp $-456

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: $86,000
• Closing costs: $10,320
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3571 Sugar Maple Ln Crestview, FL	5.0	3.0	2550	$2,200	$0.86	15d	1	0.16mi
3540 Shadbush Ln Crestview, FL	4.0	2.0	1747	$1,800	$1.03	15d	1	0.27mi
3467 Sparco Dr Crestview, FL	4.0	2.5	2348	$2,800	$1.19	45d	1	0.47mi
3527 Horne Hollow Rd Crestview, FL	4.0	2.0	1685	$1,500	$0.89	45d	1	1.11mi
6109 Buckshot Dr Crestview, FL	4.0	2.0	2137	$2,100	$0.98	15d	1	1.23mi

HOA detail

• Monthly dues: $14 · $168/yr

Listing history 27 events

1. 2026-06-21
   days on market $344,000 Active 76 DOM
2. 2026-06-18
   days on market $344,000 Active 73 DOM
3. 2026-06-17
   days on market $344,000 Active 72 DOM
4. 2026-06-16
   days on market $344,000 Active 71 DOM
5. 2026-06-15
   days on market $344,000 Active 70 DOM
6. 2026-06-14
   days on market $344,000 Active 68 DOM
7. 2026-06-13
   days on market $344,000 Active 67 DOM
8. 2026-06-10
   days on market $344,000 Active 65 DOM
9. 2026-06-09
   days on market $344,000 Active 64 DOM
10. 2026-06-08
    days on market $344,000 Active 63 DOM
11. 2026-06-07
    days on market $344,000 Active 62 DOM
12. 2026-06-05
    days on market $344,000 Active 59 DOM
13. 2026-06-02
    days on market $344,000 Active 57 DOM
14. 2026-06-01
    days on market $344,000 Active 56 DOM
15. 2026-05-31
    pricestatusdays on market $344,000 Active 55 DOM
16. 2026-05-09
    status Active
17. 2026-05-09
    price $363,000
18. 2026-04-12
    price $343,000
19. 2026-04-04
    listed $357,000 Active
20. 2022-04-14
    soldstatus $343,000 Sold 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

21. 2022-04-14
    soldstatus $343,000 Sold 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

22. 2022-01-18
    status Pending 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

23. 2022-01-17
    historical 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

24. 2021-12-29
    price $355,900 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

25. 2021-11-10
    listed $365,900 Active 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

26. 2021-11-10
    listed $355,900 764-char remark

    Show marketing remark (764 chars)

    The spacious Hayden, a great 5 bedroom, 3 full bath 2 story home with a large loft area for a 2nd living room upstairs. Open concept design is perfect for entertaining. The kitchen features a large island bar with stainless steel appliances, large pantry, quiet dishwasher, smoothtop range, built in microwave & dining area. An additional bedroom is located downstairs next to a full bath. Bedroom 1 is upstairs and the adjoining bath features a large shower, nice double vanity sinks & a roomy walk in closet. The latest in wood look flooring 'EVP', engineered vinyl plank & Frieze carpet in all bedrooms. The Smart Home Connect system includes your video/camera doorbell, keyless entry & much more. Convenient fast growing N. Crestview location.

27. 2020-12-11
    soldstatus $2,214,000

ⓘ 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: $3,058 · $255/mo
• Projected year-2 tax: $3,058 · $255/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 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: $29,465
• − Mortgage interest: −$19,269
• − Property taxes: −$3,058
• − Insurance: −$1,720
• − Repairs & maintenance: −$2,357
• − Management: −$2,357
• − HOA: −$168
• − Depreciation: −$10,007
• Taxable loss: −$9,472
• Est. tax savings @ 24.0%: +$2,273
• After-tax cash flow: $-1,043/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): 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

-83.6% since first listed

12 events — show timeline

• 2026-05-09 Relisted — ECAR
• 2026-05-09 Price Changed $363,000 ECAR
• 2026-04-12 Price Changed $343,000 ECAR
• 2026-04-04 Listed $357,000 ECAR
• 2022-04-14 Sold (MLS) $343,000 ECAR
• 2022-04-14 Sold (MLS) $343,000 NAMLS
• 2022-01-18 Pending — ECAR
• 2022-01-17 Listing Removed — NAMLS
• 2021-12-29 Price Changed $355,900 ECAR
• 2021-11-10 Listed $365,900 ECAR
• 2021-11-10 Listed $355,900 NAMLS
• 2020-12-11 Sold (Public Records) $2,214,000 Public Records

Property tax history

+36.5%/yr

Latest (2025): $3,058 · +5.2% YoY. Source: county tax records.