300 Ridgewood Ave · Navarre, FL 32569

$175,000

3 bd · 2.0 ba · 1,296 sqft · Land public records · 206 Days on market

Built 1998 7,840 sqft lot $135/sqft · 121% above area

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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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Short Sale Possibility * This charming coastal retreat that blends comfort, convenience, and Florida lifestyle in one perfect package. Tucked away in a peaceful neighborhood just minutes from Hurlburt Field, shopping, dining, and the emerald waters of the Gulf, this home delivers everyday ease with all the potential to make it uniquely yours. Step inside to find a bright and inviting layout with spacious living areas perfect for relaxing or entertaining. The kitchen offers plenty of cabinet space and a functional flow for daily living, while the bedrooms provide comfortable retreats with room to grow, work, or unwind.

Key facts

• 7,840 sq ft lot
• 4 parking spots
• Built 1998

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $175k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.2% in Navarre — 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 70/100 on livability (#435 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, schools A-; Watch: health & safety C-, 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 soft (-0.5%/yr); 175 active listings in the ZIP; 21 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; 1,268 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 $1k of loan paydown is wiped out by about $5k 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 206 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $40k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.95%
• DSCR: 1.62
• GRM: 6.8

CMA / ARV

• ARV (median comp): $79,227
• List price: $175,000
• Delta: 120.88%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,623
• Equity at exit: $26,093

10-year hold

• IRR: 7.4%
• Equity multiple: 1.49×
• Total profit: $23,791
• Equity at exit: $15,131

Cash invested: $49,000 (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 32569

• Home prices YoY: -26.5%
• Rents YoY: -0.5%
• Active inventory: 175
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,141 high
• Mortgage (P&I): −$918
• Tax from tax record: −$131 /mo · $1,571/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $570

Break-even live

Break-even rent $1,420

Max offer price $175,000

Occupancy floor 68%

Sensitivity live

Price	-10% $669	-5% $619	+0% $570	+5% $520	+10% $470
Rent	-10% $400	-5% $485	+0% $570	+5% $654	+10% $739
Rate	-1.0pp $658	-0.5pp $614	base $570	+0.5pp $524	+1.0pp $478

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
311 Evergreen Dr Mary Esther, FL	3.0	2.0	1284	$1,895	$1.48	21d	1	0.09mi
306 Evergreen Dr Mary Esther, FL	4.0	2.0	1741	$2,250	$1.29	44d	1	0.11mi
114 Ridgewood Ave Mary Esther, FL	3.0	2.0	1120	$1,870	$1.67	44d	1	0.17mi
106 Pinehaven Dr Mary Esther, FL	3.0	2.0	1501	$2,100	$1.40	21d	1	0.29mi
210 Michael Ave Mary Esther, FL	3.0	2.0	1850	$2,250	$1.22	21d	1	0.31mi
324 Michael Cir Mary Esther, FL	2.0	1.0	1000	$1,350	$1.35	44d	1	0.37mi
806 Boulevard de Lorleans Mary Esther, FL	3.0	2.0	1125	$1,700	$1.51	44d	1	0.62mi
806 Boulevard de Lorleans Mary Esther, FL	3.0	2.0	1125	$1,700	$1.51	21d	1	0.62mi
313 Rue Dianne Mary Esther, FL	3.0	2.0	1550	$1,900	$1.23	21d	1	0.76mi
9946 Mariposa St Navarre, FL	3.0	2.0	1706	$2,770	$1.62	14d	1	0.86mi
9946 Mariposa St Navarre, FL	3.0	2.0	1706	$2,770	$1.62	24d	1	0.86mi
2164 Wind Trace Rd N Navarre, FL	3.0	2.0	1463	$2,040	$1.39	24d	1	0.92mi
2164 Wind Trace Rd N Navarre, FL	3.0	2.0	1463	$2,040	$1.39	14d	1	0.92mi
2040 Falconhurst Pl Unit 2040 Navarre, FL	3.0	2.0	990	$2,800	$2.83	24d	1	1.05mi
2244 Hadleigh Hills Ct Navarre, FL	3.0	2.5	1664	$1,995	$1.20	24d	1	1.30mi
2107 Nina St Navarre, FL	3.0	2.0	1738	$2,400	$1.38	14d	1	1.42mi
2170 Tom St Navarre, FL	3.0	2.0	1400	$1,750	$1.25	24d	1	1.42mi
2281 Tom St Navarre, FL	3.0	2.0	1604	$2,295	$1.43	24d	1	1.45mi
2127 Tom St Unit 2127 Navarre, FL	3.0	2.5	1400	$1,750	$1.25	24d	1	1.47mi
2123 Tom St Navarre, FL	3.0	2.0	1400	$1,900	$1.36	24d	1	1.47mi
2189 Jeannie St Navarre, FL	2.0	2.0	1000	$1,650	$1.65	24d	1	1.50mi

Listing history 37 events

1. 2026-06-18
   days on market $175,000 Active 206 DOM
2. 2026-06-17
   days on market $175,000 Active 205 DOM
3. 2026-06-16
   days on market $175,000 Active 204 DOM
4. 2026-06-15
   days on market $175,000 Active 203 DOM
5. 2026-06-14
   days on market $175,000 Active 201 DOM
6. 2026-06-13
   days on market $175,000 Active 200 DOM
7. 2026-06-10
   days on market $175,000 Active 198 DOM
8. 2026-06-09
   days on market $175,000 Active 197 DOM
9. 2026-06-08
   days on market $175,000 Active 196 DOM
10. 2026-06-07
    days on market $175,000 Active 195 DOM
11. 2026-06-05
    days on market $175,000 Active 192 DOM
12. 2026-06-02
    days on market $175,000 Active 190 DOM
13. 2026-06-01
    days on market $175,000 Active 189 DOM
14. 2026-05-31
    days on market $175,000 Active 188 DOM
15. 2026-05-30
    days on market $175,000 Active 187 DOM
16. 2026-02-06
    price $175,000 627-char remark

    Show marketing remark (627 chars)

    * Short Sale Possibility * This charming coastal retreat that blends comfort, convenience, and Florida lifestyle in one perfect package. Tucked away in a peaceful neighborhood just minutes from Hurlburt Field, shopping, dining, and the emerald waters of the Gulf, this home delivers everyday ease with all the potential to make it uniquely yours. Step inside to find a bright and inviting layout with spacious living areas perfect for relaxing or entertaining. The kitchen offers plenty of cabinet space and a functional flow for daily living, while the bedrooms provide comfortable retreats with room to grow, work, or unwind.

17. 2025-11-24
    listed $215,000 Active 627-char remark

    Show marketing remark (627 chars)

    * Short Sale Possibility * This charming coastal retreat that blends comfort, convenience, and Florida lifestyle in one perfect package. Tucked away in a peaceful neighborhood just minutes from Hurlburt Field, shopping, dining, and the emerald waters of the Gulf, this home delivers everyday ease with all the potential to make it uniquely yours. Step inside to find a bright and inviting layout with spacious living areas perfect for relaxing or entertaining. The kitchen offers plenty of cabinet space and a functional flow for daily living, while the bedrooms provide comfortable retreats with room to grow, work, or unwind.

18. 2023-11-17
    soldstatus $197,000
19. 2023-11-01
    soldstatus $197,000 Sold 1190-char remark

    Show marketing remark (1190 chars)

    Adorable, updated manufactured home with 3 bedrooms, 2 bathrooms, and 1296 sq ft located within minutes to white sandy beaches in Mary, Esther, Florida! This home would make a perfect first home, second home, vacation home, short-term or long-term rental. This home features a new roof, new air conditioning system, new stainless-steel and black kitchen appliances, new deck with solar-powered lighting, some new skirting, new light fixtures, new luxury vinyl plank flooring, and newly painted interior! Enter the home and notice the open floor plan where the kitchen opens to the dining room and living room. The home features a split floor plan with the master bedroom offering privacy. The master bedroom has an en-suite bathroom with a soaking tub, walk-in shower, and double vanity There is an additional guest bathroom and two bedrooms. There is also a laundry closet in the home and a pantry in the kitchen. Other updates include new 2-inch vinyl blinds, new smoke detectors, refurbished kitchen cabinetry, new cabinet hardware, and no popcorn ceiling! The exterior of the home features 0.18 acres, some fencing, and mature vegetation. Buyer to verify all dimensions and information.

20. 2023-09-17
    price $197,000 1190-char remark

    Show marketing remark (1190 chars)

    Adorable, updated manufactured home with 3 bedrooms, 2 bathrooms, and 1296 sq ft located within minutes to white sandy beaches in Mary, Esther, Florida! This home would make a perfect first home, second home, vacation home, short-term or long-term rental. This home features a new roof, new air conditioning system, new stainless-steel and black kitchen appliances, new deck with solar-powered lighting, some new skirting, new light fixtures, new luxury vinyl plank flooring, and newly painted interior! Enter the home and notice the open floor plan where the kitchen opens to the dining room and living room. The home features a split floor plan with the master bedroom offering privacy. The master bedroom has an en-suite bathroom with a soaking tub, walk-in shower, and double vanity There is an additional guest bathroom and two bedrooms. There is also a laundry closet in the home and a pantry in the kitchen. Other updates include new 2-inch vinyl blinds, new smoke detectors, refurbished kitchen cabinetry, new cabinet hardware, and no popcorn ceiling! The exterior of the home features 0.18 acres, some fencing, and mature vegetation. Buyer to verify all dimensions and information.

21. 2023-09-15
    status Active 1190-char remark

    Show marketing remark (1190 chars)

    Adorable, updated manufactured home with 3 bedrooms, 2 bathrooms, and 1296 sq ft located within minutes to white sandy beaches in Mary, Esther, Florida! This home would make a perfect first home, second home, vacation home, short-term or long-term rental. This home features a new roof, new air conditioning system, new stainless-steel and black kitchen appliances, new deck with solar-powered lighting, some new skirting, new light fixtures, new luxury vinyl plank flooring, and newly painted interior! Enter the home and notice the open floor plan where the kitchen opens to the dining room and living room. The home features a split floor plan with the master bedroom offering privacy. The master bedroom has an en-suite bathroom with a soaking tub, walk-in shower, and double vanity There is an additional guest bathroom and two bedrooms. There is also a laundry closet in the home and a pantry in the kitchen. Other updates include new 2-inch vinyl blinds, new smoke detectors, refurbished kitchen cabinetry, new cabinet hardware, and no popcorn ceiling! The exterior of the home features 0.18 acres, some fencing, and mature vegetation. Buyer to verify all dimensions and information.

22. 2023-09-06
    listed $205,000 Active 1190-char remark

    Show marketing remark (1190 chars)

    Adorable, updated manufactured home with 3 bedrooms, 2 bathrooms, and 1296 sq ft located within minutes to white sandy beaches in Mary, Esther, Florida! This home would make a perfect first home, second home, vacation home, short-term or long-term rental. This home features a new roof, new air conditioning system, new stainless-steel and black kitchen appliances, new deck with solar-powered lighting, some new skirting, new light fixtures, new luxury vinyl plank flooring, and newly painted interior! Enter the home and notice the open floor plan where the kitchen opens to the dining room and living room. The home features a split floor plan with the master bedroom offering privacy. The master bedroom has an en-suite bathroom with a soaking tub, walk-in shower, and double vanity There is an additional guest bathroom and two bedrooms. There is also a laundry closet in the home and a pantry in the kitchen. Other updates include new 2-inch vinyl blinds, new smoke detectors, refurbished kitchen cabinetry, new cabinet hardware, and no popcorn ceiling! The exterior of the home features 0.18 acres, some fencing, and mature vegetation. Buyer to verify all dimensions and information.

23. 2023-05-30
    soldstatus $80,000 Sold
24. 2023-05-30
    soldstatus $80,000
25. 2023-02-27
    status Pending
26. 2023-02-24
    listed $74,900 Active
27. 2011-03-31
    historical
28. 2010-09-13
    listed $74,000
29. 2010-09-13
    listed $74,000
30. 2005-01-04
    soldstatus $70,000
31. 2004-11-30
    soldstatus $70,000
32. 2004-11-30
    soldstatus $70,000
33. 2004-11-01
    listed $74,900
34. 2004-11-01
    listed $74,900
35. 1997-04-17
    soldstatus $18,000
36. 1996-08-06
    soldstatus $18,000
37. 1994-03-01
    soldstatus $14,500

ⓘ 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: $1,571 · $131/mo
• Projected year-2 tax: $1,571 · $131/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 23 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: $25,687
• − Mortgage interest: −$9,803
• − Property taxes: −$1,571
• − Insurance: −$875
• − Repairs & maintenance: −$2,055
• − Management: −$2,055
• − Depreciation: −$5,091
• Taxable income: $4,238
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $5,818/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 — Navarre

• Score: 70/100
• State rank: #435
• US rank: #7790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Okaloosa County · 194,352 people
• City population: 43,883
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 12,063
• Household income: $77,718
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 416.0

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 0.58)
• Race & ethnicity: White 63% Two or more races 12% Black 12% Hispanic / Latino 9% Asian 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 4% Spanish 3% 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: ▼ -97.13%
• Current HPI: 269.266
• Rent YoY: ▼ -0.45%
• 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

+1106.9% since first listed

22 events — show timeline

• 2026-02-06 Price Changed $175,000 ECAR
• 2025-11-24 Listed $215,000 ECAR
• 2023-11-17 Sold (Public Records) $197,000 Public Records
• 2023-11-01 Sold (MLS) $197,000 ECAR
• 2023-09-17 Price Changed $197,000 ECAR
• 2023-09-15 Relisted — ECAR
• 2023-09-06 Listed $205,000 ECAR
• 2023-05-30 Sold (Public Records) $80,000 Public Records
• 2023-05-30 Sold (MLS) $80,000 ECAR
• 2023-02-27 Pending — ECAR
• 2023-02-24 Listed $74,900 ECAR
• 2011-03-31 Listing Removed — NAMLS
• 2010-09-13 Listed $74,000 NAMLS
• 2010-09-13 Listed $74,000 ECAR
• 2005-01-04 Sold (Public Records) $70,000 Public Records
• 2004-11-30 Sold (MLS) $70,000 ECAR
• 2004-11-30 Sold (MLS) $70,000 NAMLS
• 2004-11-01 Listed $74,900 ECAR
• 2004-11-01 Listed $74,900 NAMLS
• 1997-04-17 Sold (Public Records) $18,000 Public Records
• 1996-08-06 Sold (Public Records) $18,000 Public Records
• 1994-03-01 Sold (Public Records) $14,500 Public Records

Property tax history

+18.0%/yr

Latest (2025): $1,571 · +2.2% YoY. Source: county tax records.