6589 Cedar St · Milton, FL 32570

$199,900

3 bd · 1.0 ba · 1,496 sqft · SingleFamily public records · 122 Days on market

Built 1956 0.46 ac lot Est $206k · at est.

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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 +18.6/30.0
• ARV discount +8.9/15.0
• DSCR +5.8/10.0
• Schools +5.3/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

Key facts

• Hardwood flooring
• Modern appliances
• Dedicated pantry

Tags

• CORNER LOT
• HARDWOOD FLOORING
• WOOD-BURNING FIREPLACE
• MODERN APPLIANCES
• DEDICATED PANTRY
• NEW ROOF

Property features AI

Finance

• Other: Green energy features include ridge vent and ENERGY STAR qualified appliances
• HOA & community: No homeowners association

Exterior

• Parking: Two total parking spaces; One-car attached garage; One covered space; Guest parking; Front entrance parking; RV access/parking
• Utilities: Public water; Public sewer; Copper electrical wiring; Cable available
• Home design: Single-story brick home; One level; Resale property; Not attached to other units; Homestead eligible; Shingle roof; Public paved road access
• Construction: Brick construction; Off-grade foundation; Built as one-level structure
• Exterior features: Patio; Fire pit; Rain gutters; Corner lot

Interior

• Kitchen: Updated kitchen with pantry; Updated flooring and countertops; Self-cleaning oven; Dishwasher; Refrigerator; ENERGY STAR qualified dishwasher, refrigerator, and other appliances
• Bedrooms: Primary bedroom on the first floor (approximately 14 x 10 ft)
• Flooring: Hardwood; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air; Fireplace(s); Ceiling fans for cooling
• Interior features: Baseboards; Ceiling fans; Blinds and drapes; Updated bathroom with new tile in shower
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (7.8% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.6% in Milton — 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 78/100 on livability (#166 in FL, #2,480 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.7%/yr); 360 active listings in the ZIP; 10 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; 1,983 units permitted in Santa Rosa County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $25k (11%) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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 1956 — 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: 0.92% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.13%
• DSCR: 1.18
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $206,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6582 Lee St	0.10mi	4/2.0 (+1)	1,469 (-2%)	5mo	$195,000	$133	79
5589 Birch St	0.37mi	3/2.0	1,458 (-2%)	3mo	$174,500	$120	72
6608 Magnolia St	0.16mi	3/2.0	1,307 (-13%)	1mo	$215,000	$164	66
5558 Oriole St	0.48mi	3/1.0	1,417 (-5%)	4mo	$195,000	$138	66
6518 Robin Ave	0.48mi	3/2.0	1,560 (+4%)	5mo	$120,000	$77	62
6517 Robin Ave	0.51mi	3/1.0	1,400 (-6%)	5mo	$127,000	$91	62
5913 Savannah Dr	0.67mi	3/2.0	1,532 (+2%)	4mo	$242,050	$158	58
6442 Sanders St	0.51mi	3/1.5	1,352 (-10%)	1mo	$181,000	$134	58
6769 Harvell St	0.54mi	3/2.0	1,392 (-7%)	5mo	$246,500	$177	55
6765 Harvell St	0.55mi	3/2.0	1,392 (-7%)	5mo	$244,900	$176	55
6807 Chaffin St	0.73mi	3/2.0	1,664 (+11%)	0mo	$190,000	$114	43
6052 Savannah Dr	0.71mi	3/2.0	1,320 (-12%)	2mo	$230,000	$174	42

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 · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-20,725
• Equity at exit: $29,806

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-4,696
• Equity at exit: $17,284

Cash invested: $55,972 (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 32570

• Home prices YoY: -15.1%
• Rents YoY: 2.7%
• Active inventory: 360
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$132 /mo · $1,589/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $193

Break-even live

Break-even rent $1,600

Max offer price $199,900

Occupancy floor 85%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5733 Orange St Milton, FL	3.0	1.5	1640	$1,500	$0.91	23d	1	0.24mi
6716 Barnwood Dr Milton, FL	3.0	2.0	1753	$1,850	$1.06	23d	1	0.42mi
6747 Weathered Dr Milton, FL	3.0	2.0	1546	$1,800	$1.16	23d	1	0.49mi
6707 Cedar Ridge Cir Milton, FL	3.0	2.5	1669	$1,900	$1.14	14d	1	0.67mi
5723 Maggie Rose Cir Milton, FL	3.0	2.0	1610	$2,000	$1.24	23d	1	0.95mi
5723 Maggie Rose Cir Milton, FL	3.0	2.0	1610	$2,000	$1.24	14d	1	0.95mi
5357 Locklin Ave Milton, FL	3.0	1.0	1100	$1,700	$1.55	14d	1	0.98mi
5394 Munson Hwy Milton, FL	2.0	2.0	900	$1,250	$1.39	14d	1	1.03mi
5461 Collins Mill Creek Dr Milton, FL	2.0	2.0	950	$1,672	$1.76	14d	4	1.25mi
6460 Stewart St Milton, FL	1.0–3.0	1.0–2.0	872	$1,500	$1.72	23d	1	1.47mi

Listing history 33 events

1. 2026-06-18
   days on market $199,900 Active 122 DOM
2. 2026-06-17
   days on market $199,900 Active 121 DOM
3. 2026-06-16
   days on market $199,900 Active 120 DOM
4. 2026-06-15
   days on market $199,900 Active 119 DOM
5. 2026-06-14
   days on market $199,900 Active 117 DOM
6. 2026-06-10
   days on market $199,900 Active 114 DOM
7. 2026-06-09
   days on market $199,900 Active 113 DOM
8. 2026-06-08
   days on market $199,900 Active 112 DOM
9. 2026-06-07
   days on market $199,900 Active 111 DOM
10. 2026-06-05
    days on market $199,900 Active 108 DOM
11. 2026-06-03
    days on market $199,900 Active 107 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-02
    days on market $199,900 Active 106 DOM
14. 2026-06-01
    days on market $199,900 Active 105 DOM
15. 2026-06-01
    price $199,900 Active 104 DOM
16. 2026-05-31
    days on market $205,000 Active 104 DOM
17. 2026-05-31
    days on market $205,000 Active 103 DOM
18. 2026-05-10
    price $205,000
19. 2026-04-30
    price $214,900
20. 2026-04-10
    price $219,900
21. 2026-02-16
    listed $225,000 Active
22. 2024-06-17
    soldstatus $180,000
23. 2024-06-10
    soldstatus $180,000 Sold 594-char remark

    Show marketing remark (594 chars)

    You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

24. 2024-02-22
    status Pending 594-char remark

    Show marketing remark (594 chars)

    You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

25. 2024-02-08
    historical Contingent 594-char remark

    Show marketing remark (594 chars)

    You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

26. 2023-12-12
    price $189,900 594-char remark

    Show marketing remark (594 chars)

    You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

27. 2023-11-10
    price $194,900 594-char remark

    Show marketing remark (594 chars)

    You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

28. 2023-10-10
    listed $199,900 Active 594-char remark

    Show marketing remark (594 chars)

    You'll say "there's no place like home" when you see this nicely maintained 3 bedroom one full bath home on a fantastic corner lot. Hardwood floored rooms throughout. The galley kitchen (with dishwasher, refrigerator and counter microwave) has a cozy eat in area adjacent to the great family room and wood burning fireplace that will be so perfect for any get togethers. When you step down into the 11 X 17 one car garage you'll find the laundry area(including washer and dryer). New Roof 2021, New electric panel 2021.Hot Water Heater 2012. Fenced backyard with two storage sheds.

29. 2021-11-22
    soldstatus $163,000
30. 2021-11-10
    soldstatus $163,000 Sold 962-char remark

    Show marketing remark (962 chars)

    Charming family home with a cozy fireplace, that has been freshly painted. Family room is 12x24 plenty of room for children. Updated Kitchen/dining area is 10x19 with a huge pantry. The appliances in the home are in good shape and all convey with the home. The entertainment area is separated from the bedrooms and bath for privacy. This cozy home has a fresh newer feeling. The roof is asphalt with a slight slant, has been maintained, 2018 new sealer. 2018 home inspection report said roof is good for 6-8 more yrs. 2018 plumbing changed to pvc pipes. hot water heater was installed 2012. The yard is huge with a beautiful aged oak tree. It needs a swing. The backyard is fenced with a nice play area on the right side of the home and the left side. The storage building conveys "as is" along with the home. Cypress trees align the east side of the home. please drive by and check this home out. Move in ready. by 9/19 the home will be fha/va ready.

31. 2021-09-23
    status Pending 962-char remark

    Show marketing remark (962 chars)

    Charming family home with a cozy fireplace, that has been freshly painted. Family room is 12x24 plenty of room for children. Updated Kitchen/dining area is 10x19 with a huge pantry. The appliances in the home are in good shape and all convey with the home. The entertainment area is separated from the bedrooms and bath for privacy. This cozy home has a fresh newer feeling. The roof is asphalt with a slight slant, has been maintained, 2018 new sealer. 2018 home inspection report said roof is good for 6-8 more yrs. 2018 plumbing changed to pvc pipes. hot water heater was installed 2012. The yard is huge with a beautiful aged oak tree. It needs a swing. The backyard is fenced with a nice play area on the right side of the home and the left side. The storage building conveys "as is" along with the home. Cypress trees align the east side of the home. please drive by and check this home out. Move in ready. by 9/19 the home will be fha/va ready.

32. 2021-08-25
    listed $160,000 Active 962-char remark

    Show marketing remark (962 chars)

    Charming family home with a cozy fireplace, that has been freshly painted. Family room is 12x24 plenty of room for children. Updated Kitchen/dining area is 10x19 with a huge pantry. The appliances in the home are in good shape and all convey with the home. The entertainment area is separated from the bedrooms and bath for privacy. This cozy home has a fresh newer feeling. The roof is asphalt with a slight slant, has been maintained, 2018 new sealer. 2018 home inspection report said roof is good for 6-8 more yrs. 2018 plumbing changed to pvc pipes. hot water heater was installed 2012. The yard is huge with a beautiful aged oak tree. It needs a swing. The backyard is fenced with a nice play area on the right side of the home and the left side. The storage building conveys "as is" along with the home. Cypress trees align the east side of the home. please drive by and check this home out. Move in ready. by 9/19 the home will be fha/va ready.

33. 1978-02-01
    soldstatus $22,000

ⓘ 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: $1,589 · $132/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$70/yr (+$6/mo · 4.4%)

ⓘ 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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,125
• − Mortgage interest: −$11,198
• − Property taxes: −$1,589
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$5,815
• Taxable loss: −$1,016
• Est. tax savings @ 24.0%: +$244
• After-tax cash flow: $2,555/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: Santa Rosa
• NCES district ID: 1201650
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $58,161
• Composite: 53.12/100
• National rank: #1511
• State rank: #8 of 73 in FL

Livability — Milton

• Score: 78/100
• State rank: #166
• US rank: #2480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milton, FL
• County: Santa Rosa County · 194,764 people
• City population: 69,025
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 37,197
• Household income: $77,222
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 590.0

Population outlook (Santa Rosa County) Hauer SSP2

• Today (2025): 195,978 people
• By 2030: 209,782 · +7.0%
• By 2040: 235,293 · +20.1%
• By 2050: 256,408 · +30.8%
• By 2075: 298,074 · +52.1%
• By 2100: 303,216 · +54.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 7% Black 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Santa Rosa

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.0%
• 2008→2024 swing: -3.0pp toward R · 2008: -47.9pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.5 2016: R+53.5 2012: R+52.6 2008: R+47.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.06%
• Current HPI: 287.7469
• Rent YoY: ▲ 2.70%
• Metro: Pensacola-Ferry Pass-Brent, 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

+831.8% since first listed

16 events — show timeline

• 2026-05-10 Price Changed $205,000 PARMLS
• 2026-04-30 Price Changed $214,900 PARMLS
• 2026-04-10 Price Changed $219,900 PARMLS
• 2026-02-16 Listed $225,000 PARMLS
• 2024-06-17 Sold (Public Records) $180,000 Public Records
• 2024-06-10 Sold (MLS) $180,000 PARMLS
• 2024-02-22 Pending — PARMLS
• 2024-02-08 Contingent — PARMLS
• 2023-12-12 Price Changed $189,900 PARMLS
• 2023-11-10 Price Changed $194,900 PARMLS
• 2023-10-10 Listed $199,900 PARMLS
• 2021-11-22 Sold (Public Records) $163,000 Public Records
• 2021-11-10 Sold (MLS) $163,000 PARMLS
• 2021-09-23 Pending — PARMLS
• 2021-08-25 Listed $160,000 PARMLS
• 1978-02-01 Sold (Public Records) $22,000 Public Records

Property tax history

+20.4%/yr

Latest (2025): $1,589 · -19.9% YoY. Source: county tax records.