2382 Barberee Dr · Crestview, FL 32536

$230,000

4 bd · 3.0 ba · 2,944 sqft · SingleFamily public records · 2 Days on market

Built 2007 0.52 ac lot $10/mo HOA ↓ 5% since listing

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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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +5.2/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRICK MAILBOX, DIMENSIONAL SHINGLES,

Key facts

• 0.52 acre lot
• Garage
• Built 2007

Property features AI

Finance

• Other: Homestead exempt; Zoning: RR; Living area reported as 2,944 (appraiser source); Building area reported as 4,336 (appraiser source)
• Financial info: No lease restrictions indicated
• HOA & community: Part of Silver Creek Estates Homeowners Association; HOA approval required; HOA dues $125 annually (about $10.42/month); Pets allowed

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Other sewer; Electricity available; Water available
• Home design: Single Family Residence; One story; Faces southwest
• Construction: Concrete construction; Shingle roof; Other foundation details; Built on a 0.52-acre lot
• Exterior features: Other exterior features; Asphalt road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Other cooling
• Interior features: Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/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 $228k (0.7% below list).
• Recommended offer: $228k (0.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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); 349 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 35% 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 $2k of loan paydown is wiped out by about $7k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,363 (0.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $468,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2378 Barberee Dr	0.04mi	4/2.5	2,826 (-4%)	16mo	$465,000	$165	76
2508 Rutgers Rd	0.29mi	5/3.5 (+1)	2,995 (+2%)	3mo	$399,900	$134	74
2504 Rutgers Rd	0.28mi	5/3.5 (+1)	2,995 (+2%)	4mo	$399,900	$134	74
6202 Nanterre Cv	0.29mi	4/2.0	2,767 (-6%)	1mo	$480,000	$173	72
2345 Genevieve Way	0.21mi	4/3.0	2,522 (-14%)	2mo	$407,000	$161	64
2384 Barberee Dr	0.02mi	4/2.0	2,583 (-12%)	15mo	$409,850	$159	62
2502 Rutgers Rd	0.28mi	5/3.0 (+1)	2,595 (-12%)	2mo	$360,000	$139	60
2428 Genevieve Way	0.33mi	5/3.0 (+1)	2,585 (-12%)	1mo	$386,600	$150	58
2512 Rutgers Rd	0.32mi	5/3.0 (+1)	2,595 (-12%)	3mo	$379,900	$146	58
2405 Dakota Way	0.47mi	5/3.0 (+1)	3,113 (+6%)	6mo	$548,000	$176	58
2415 Dakota Way	0.55mi	5/3.0 (+1)	2,971 (+1%)	13mo	$550,000	$185	57
6256 Evan Cir	0.32mi	4/3.0	2,604 (-12%)	14mo	$415,000	$159	54

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: -8.9%
• Equity multiple: 0.68×
• Total profit: $-20,692
• Equity at exit: $34,294

10-year hold

• IRR: -1.9%
• Equity multiple: 0.88×
• Total profit: $-7,782
• Equity at exit: $19,886

Cash invested: $64,400 (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: 349
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,284 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$166 /mo · $1,997/yr
• Insurance: −$96
• HOA: −$10
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $326

Break-even live

Break-even rent $1,871

Max offer price $230,000

Occupancy floor 81%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2609 Corner Creek Rd Crestview, FL	4.0	2.0	2098	$2,100	$1.00	43d	1	1.30mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 3 events

1. 2026-06-18
   days on market $230,000 Active 2 DOM
2. 2026-06-16
   remarks 71-char remark
3. 2026-06-16
   listed $230,000 Active 1 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: $1,997 · $166/mo
• Projected year-2 tax: $1,997 · $166/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 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: $27,404
• − Mortgage interest: −$12,884
• − Property taxes: −$1,997
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,192
• − Management: −$2,192
• − HOA: −$120
• − Depreciation: −$6,691
• Taxable income: $177
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $3,865/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): 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

-4.7% since first listed

5 events — show timeline

• 2026-06-16 Listed $230,000 Stellar MLS as Distributed by MLS Grid
• 2007-07-20 Sold (MLS) $241,300 ECAR
• 2007-07-20 Sold (MLS) $241,300 NAMLS
• 2007-02-21 Listed $241,300 ECAR
• 2007-02-21 Listed $241,300 NAMLS

Property tax history

+1.2%/yr

Latest (2025): $1,997 · +3.3% YoY. Source: county tax records.