658 W Griffith Ave · Crestview, FL 32536

$125,000

2 bd · 2.0 ba · 916 sqft · SingleFamily public records · 134 Days on market

Built 1944 0.39 ac lot $136/sqft · 38% above area Est $90k · 38% over ↓ 4% since listing

---

Why this score? — see what drove the C 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +6.2/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy home is a diamond in the rough, full of character and waiting for someone with a vision to make it shine. While it needs repairs and updates, it offers a welcoming layout, generous room sizes, a solid foundation, and the added comfort of central AC and heat. Enjoy a spacious backyard perfect for future outdoor living, all in a convenient location near downtown, schools, and local amenities. Whether you're a DIY enthusiast or looking to create your dream space, this home is ready for its next chapter.

Key facts

• Central ac
• Spacious backyard
• Convenient location

Tags

• CENTRAL AC
• SPACIOUS BACKYARD
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.4% 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 rising (+1.2%/yr); 351 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $864 of loan paydown is wiped out by about $4k 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 134 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.12% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.34%
• DSCR: 1.55
• GRM: 7.5

CMA / ARV

• ARV (median comp): $90,382
• List price: $125,000
• Delta: 38.30%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Cross Dr	0.40mi	3/1.0 (+1)	888 (-3%)	2mo	$37,500	$42	66
271 N Booker St	0.33mi	2/1.0	884 (-4%)	20mo	$54,900	$62	58
705 School Ave	0.21mi	2/1.0	1,026 (+12%)	12mo	$90,000	$88	56
725 School Ave Ave	0.25mi	3/1.0 (+1)	792 (-14%)	4mo	$145,000	$183	54
1018 S Wilson St	0.46mi	3/1.0 (+1)	1,032 (+13%)	11mo	$60,000	$58	39
396 E Cobb Ave	0.59mi	2/1.0	972 (+6%)	24mo	$126,500	$130	38
133 Cabana Way	0.75mi	3/2.0 (+1)	1,032 (+13%)	15mo	$210,000	$203	27

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 · 1.17% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $93
• Equity at exit: $18,638

10-year hold

• IRR: 7.9%
• Equity multiple: 1.55×
• Total profit: $19,407
• Equity at exit: $10,808

Cash invested: $35,000 (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 32536

• Home prices YoY: -16.2%
• Rents YoY: 1.2%
• Active inventory: 351
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,394 high
• Mortgage (P&I): −$656
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $360

Break-even live

Break-even rent $939

Max offer price $125,000

Occupancy floor 69%

Sensitivity live

Price	-10% $431	-5% $395	+0% $360	+5% $325	+10% $289
Rent	-10% $250	-5% $305	+0% $360	+5% $415	+10% $470
Rate	-1.0pp $423	-0.5pp $392	base $360	+0.5pp $328	+1.0pp $295

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
503 W Griffith Ave Crestview, FL	3.0	1.0	962	$1,395	$1.45	45d	1	0.14mi
401 S Booker St Crestview, FL	3.0	1.5	1040	$1,225	$1.18	45d	1	0.17mi
650 Blakely Ave Crestview, FL	2.0	1.0	648	$1,000	$1.54	15d	1	0.29mi
168 Cabana Way Crestview, FL	3.0	2.0	1100	$1,700	$1.55	22d	1	0.66mi
408 Church St Crestview, FL	2.0	2.0	1086	$1,200	$1.10	45d	1	0.75mi
475 Aplin Rd Crestview, FL	1.0–2.0	1.0–2.0	764	$999	$1.31	45d	5	1.14mi
498 North Ave E Unit A Crestview, FL	2.0	2.0	1081	$1,450	$1.34	45d	1	1.21mi
812 E Edney Ave Crestview, FL	2.0	2.0	1024	$1,400	$1.37	46d	1	1.23mi
812 E Edney Ave Crestview, FL	2.0	2.0	1024	$1,400	$1.37	22d	1	1.23mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,400	$1.27	45d	1	1.28mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,375	$1.25	22d	1	1.28mi
257 Lindberg St Crestview, FL	2.0	1.0	832	$1,100	$1.32	45d	1	1.29mi
301 E Redstone Ave Crestview, FL	1.0–3.0	1.0–2.0	1100	$1,731	$1.57	15d	20	1.38mi
800 Spring Creek Blvd Crestview, FL	1.0–3.0	1.0–2.0	1009	$1,538	$1.52	15d	28	1.40mi

Listing history 3 events

1. 2026-05-18
   status Pending 515-char remark

   Show marketing remark (515 chars)

   This cozy home is a diamond in the rough, full of character and waiting for someone with a vision to make it shine. While it needs repairs and updates, it offers a welcoming layout, generous room sizes, a solid foundation, and the added comfort of central AC and heat. Enjoy a spacious backyard perfect for future outdoor living, all in a convenient location near downtown, schools, and local amenities. Whether you're a DIY enthusiast or looking to create your dream space, this home is ready for its next chapter.

2. 2026-02-26
   price $125,000 515-char remark

   Show marketing remark (515 chars)

   This cozy home is a diamond in the rough, full of character and waiting for someone with a vision to make it shine. While it needs repairs and updates, it offers a welcoming layout, generous room sizes, a solid foundation, and the added comfort of central AC and heat. Enjoy a spacious backyard perfect for future outdoor living, all in a convenient location near downtown, schools, and local amenities. Whether you're a DIY enthusiast or looking to create your dream space, this home is ready for its next chapter.

3. 2025-12-15
   listed $130,000 Active 515-char remark

   Show marketing remark (515 chars)

   This cozy home is a diamond in the rough, full of character and waiting for someone with a vision to make it shine. While it needs repairs and updates, it offers a welcoming layout, generous room sizes, a solid foundation, and the added comfort of central AC and heat. Enjoy a spacious backyard perfect for future outdoor living, all in a convenient location near downtown, schools, and local amenities. Whether you're a DIY enthusiast or looking to create your dream space, this home is ready for its next chapter.

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$629/yr (+$52/mo · 153.8%)

ⓘ 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 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: $16,733
• − Mortgage interest: −$7,002
• − Property taxes: −$409
• − Insurance: −$625
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$3,636
• Taxable income: $2,384
• Est. tax owed @ 24.0%: −$572
• After-tax cash flow: $3,747/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

• Census place: Crestview, FL
• County: Okaloosa County · 194,352 people
• City population: 58,889
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 25,599
• Household income: $78,119
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 634.0

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 0.56)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 7% 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: ▼ -51.48%
• Current HPI: 265.9926
• Rent YoY: ▲ 1.17%
• 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

-3.8% since first listed

3 events — show timeline

• 2026-05-18 Pending — ECAR
• 2026-02-26 Price Changed $125,000 ECAR
• 2025-12-15 Listed $130,000 ECAR

Property tax history

-4.3%/yr

Latest (2025): $409 · +1.3% YoY. Source: county tax records.