3040 Register Ln · Crestview, FL 32539

$85,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 298 Days on market

Built 1956 Poor condition 0.46 ac lot $71/sqft · 64% below area ↓ 29% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special or DIY Opportunity! This 2-bedroom, 1-bath home is located near Highway 90 and has been fully stripped down to the studs—offering a clean slate for your next project. Whether you're an investor looking for your next flip or a homeowner ready to customize every detail, this property provides the ideal foundation. Situated on approximately half an acre, there's plenty of room to create the layout and features that fit your vision. Property is being sold as-is and is ready for renovation. Zoned for commercial use, adding potential for future development or business use (buyer to verify zoning and usage with the county). Don't miss this opportunity!

Key facts

• Half an acre
• 0.46 acre lot
• Built 1956

Tags

• HALF AN ACRE
• ZONED FOR COMMERCIAL USE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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.
• Market conditions: Rents flat; 925 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 298 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1956 — 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 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. 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.
8. 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.
9. 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: 2.04% ✓
• Cap rate: 17.97%
• Cash-on-cash: 41.69%
• DSCR: 2.86
• GRM: 4.1

CMA / ARV

• ARV (median comp): $235,165
• List price: $85,000
• Delta: -63.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5373 Opportunity Dr	0.55mi	3/2.0 (+1)	1,215 (+1%)	19mo	$240,000	$198	48
5148 Cavalier Dr	0.42mi	3/2.0 (+1)	1,104 (-8%)	14mo	$189,000	$171	47
3147 Forrest Ave	0.74mi	3/2.0 (+1)	1,245 (+4%)	17mo	$225,000	$181	36
5358 Cox Ln	0.58mi	3/1.5 (+1)	1,066 (-11%)	14mo	$212,500	$199	35
3159 Forrest Ave	0.70mi	3/2.0 (+1)	1,344 (+12%)	8mo	$240,000	$179	32
3155 Pinewoods Dr	0.61mi	3/2.0 (+1)	1,375 (+15%)	18mo	$235,000	$171	23
3149 Forrest Ave	0.73mi	3/2.0 (+1)	1,332 (+11%)	23mo	$230,900	$173	20

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: 35.1%
• Equity multiple: 2.43×
• Total profit: $33,999
• Equity at exit: $12,674

10-year hold

• IRR: 40.4%
• Equity multiple: 4.30×
• Total profit: $78,466
• Equity at exit: $7,349

Cash invested: $23,800 (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: 3 active · 2 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $274,990 ($188/sqft)
• Median days on market: 20 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +4.3% 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: 4.1×

Monthly cashflow live

• Estimated rent: $1,737 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $827

Break-even live

Break-even rent $691

Max offer price $85,000

Occupancy floor 47%

Sensitivity live

Price	-10% $875	-5% $851	+0% $827	+5% $803	+10% $779
Rent	-10% $690	-5% $758	+0% $827	+5% $896	+10% $964
Rate	-1.0pp $870	-0.5pp $849	base $827	+0.5pp $805	+1.0pp $782

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: $21,250
• Closing costs: $2,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5315 Hillcrest Rd Crestview, FL	3.0	2.0	1436	$1,800	$1.25	1d	1	0.82mi
3016 Aplin Rd Crestview, FL	3.0	2.0	1280	$1,400	$1.09	184d	1	1.39mi

Listing history 50 events

1. 2026-11-08
   days on market $85,000 Active 298 DOM
2. 2026-11-07
   days on market $85,000 Active 297 DOM
3. 2026-11-06
   days on market $85,000 Active 296 DOM
4. 2026-11-05
   days on market $85,000 Active 295 DOM
5. 2026-11-04
   days on market $85,000 Active 294 DOM
6. 2026-11-02
   days on market $85,000 Active 292 DOM
7. 2026-11-01
   days on market $85,000 Active 291 DOM
8. 2026-10-31
   days on market $85,000 Active 290 DOM
9. 2026-10-30
   days on market $85,000 Active 289 DOM
10. 2026-10-29
    days on market $85,000 Active 288 DOM
11. 2026-10-28
    days on market $85,000 Active 287 DOM
12. 2026-10-27
    days on market $85,000 Active 286 DOM
13. 2026-10-26
    days on market $85,000 Active 285 DOM
14. 2026-10-25
    days on market $85,000 Active 284 DOM
15. 2026-10-24
    days on market $85,000 Active 283 DOM
16. 2026-10-23
    days on market $85,000 Active 282 DOM
17. 2026-10-22
    days on market $85,000 Active 281 DOM
18. 2026-10-21
    days on market $85,000 Active 280 DOM
19. 2026-10-20
    days on market $85,000 Active 279 DOM
20. 2026-10-19
    days on market $85,000 Active 278 DOM
21. 2026-10-18
    days on market $85,000 Active 277 DOM
22. 2026-10-17
    days on market $85,000 Active 276 DOM
23. 2026-10-16
    days on market $85,000 Active 275 DOM
24. 2026-10-15
    days on market $85,000 Active 274 DOM
25. 2026-10-14
    days on market $85,000 Active 273 DOM
26. 2026-10-13
    days on market $85,000 Active 272 DOM
27. 2026-10-12
    days on market $85,000 Active 271 DOM
28. 2026-10-11
    days on market $85,000 Active 270 DOM
29. 2026-10-10
    days on market $85,000 Active 269 DOM
30. 2026-10-09
    days on market $85,000 Active 268 DOM
31. 2026-10-08
    days on market $85,000 Active 267 DOM
32. 2026-10-07
    days on market $85,000 Active 266 DOM
33. 2026-10-06
    days on market $85,000 Active 265 DOM
34. 2026-10-05
    days on market $85,000 Active 264 DOM
35. 2026-10-04
    days on market $85,000 Active 263 DOM
36. 2026-10-03
    days on market $85,000 Active 262 DOM
37. 2026-10-02
    days on market $85,000 Active 261 DOM
38. 2026-10-01
    days on market $85,000 Active 260 DOM
39. 2026-09-30
    days on market $85,000 Active 259 DOM
40. 2026-09-29
    days on market $85,000 Active 258 DOM
41. 2026-09-28
    days on market $85,000 Active 257 DOM
42. 2026-09-27
    days on market $85,000 Active 256 DOM
43. 2026-09-26
    days on market $85,000 Active 255 DOM
44. 2026-09-25
    days on market $85,000 Active 254 DOM
45. 2026-09-24
    days on market $85,000 Active 253 DOM
46. 2026-09-24
    days on market $85,000 Active 252 DOM
47. 2026-09-22
    days on market $85,000 Active 251 DOM
48. 2026-09-21
    days on market $85,000 Active 250 DOM
49. 2026-09-20
    days on market $85,000 Active 249 DOM
50. 2026-09-19
    days on market $85,000 Active 248 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: $773 · $64/mo
• Projected year-2 tax: $773 · $64/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 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $20,848
• − Mortgage interest: −$4,761
• − Property taxes: −$773
• − Insurance: −$425
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$2,473
• Taxable income: $9,080
• Est. tax owed @ 24.0%: −$2,179
• After-tax cash flow: $7,744/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 · 10 photos

Poor 20/100 Gut rehab Est. rehab $120,000–$180,000 screening

This property requires extensive gut renovation, including structural repairs, HVAC replacement, and interior renovations. Landscaping and curb appeal improvements will significantly enhance its marketability.

Deferred maintenance Est. $70,000–$210,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Hvac (hvac) — No HVAC unit visible in photos
• Major Windows (windows) — No windows visible in photos
• Major Electrical (electrical) — No electrical panel visible in photos
• Major Plumbing (plumbing) — No plumbing fixtures visible in photos
• Major Exterior (exterior) — No exterior walls or siding visible in photos
• Major Other — No other components visible in photos

Repairs flagged

• Major Exposed roof structure — Structural damage
• Major Exposed siding — Structural damage
• Major Exposed subfloor — Structural damage
• Major Exposed studs — Structural damage
• Major Missing windows — Structural damage
• Major Missing HVAC components — Structural damage
• Major Missing cabinets and fixtures — Structural damage

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and marketability ↑
• Both HVAC system replacement — Improves comfort and energy efficiency ↑
• Both Structural repairs and roof replacement — Restores structural integrity and enhances safety ↑
• Both Interior repairs and drywall installation — Restores structural integrity and enhances safety ↑
• Both Kitchen and bathroom renovations — Enhances functionality and marketability ↑

ⓘ Rehab cost is a screening estimate — Gut 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

---

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%
• 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

-29.2% since first listed

17 events — show timeline

• 2026-04-28 Relisted — ECAR
• 2025-08-29 Relisted — ECAR
• 2025-08-18 Pending — ECAR
• 2025-06-12 Price Changed $85,000 ECAR
• 2025-05-05 Listed $92,570 ECAR
• 2024-07-09 Sold (Public Records) $83,700 Public Records
• 2024-06-25 Sold (MLS) $83,700 ECAR
• 2024-05-16 Price Changed $83,700 ECAR
• 2024-05-15 Price Changed $92,500 ECAR
• 2024-04-25 Relisted — ECAR
• 2024-04-15 Pending — ECAR
• 2024-04-01 Relisted — ECAR
• 2024-03-04 Price Changed $99,900 ECAR
• 2024-02-13 Relisted — ECAR
• 2024-01-19 Price Changed $109,900 ECAR
• 2023-12-03 Price Changed $105,000 ECAR
• 2023-10-18 Listed $120,000 ECAR

Property tax history

+8.1%/yr

Latest (2025): $773 · -6.8% YoY. Source: county tax records.