326 Callie Dr · Crestview, FL 32536

$232,900

3 bd · 2.5 ba · 1,460 sqft · Townhouse · 164 Days on market

Built 2026 Excellent condition 1,742 sqft lot $160/sqft · at area comps Est $244k · at est. $56/mo HOA · 3% of rent ↓ 2% since listing

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Why this score? — see what drove the D+ 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 +12.9/30.0
• ARV discount +9.5/15.0
• Schools +5.5/10.0
• Condition / age +4.8/5.0
• 1% rule +4.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Garden Villas in Crestview, FL! This New Townhome community will feature a gorgeous community pool. The Palm Interior Unit is a 2-story townhome that boasts 3 bedrooms, 2.5 baths, and single car garage with an open design that is perfect for entertaining. The kitchen is presented with quartz countertops, a large island bar, pantry and all stainless-steel appliances offering style and functionality. Bedroom 1 is located on the second floor as a private retreat with a spacious walk-in closet and a beautiful adjoining bath. Interior features also include EVP flooring with frieze carpet in the bedrooms. Our Home is Connected package also offers a Smart Home 'Connect' system with several convenient devices you are sure to enjoy. ALL LISTING pictures, colors, features, and size may vary. Square footages are approximate.

Key facts

• Quartz countertops
• Large island bar
• Walk-in closet

Tags

• QUARTZ COUNTERTOPS
• LARGE ISLAND BAR
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• SMART HOME CONNECT SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $233k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-19 ($-224/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (10.5% below list).
• Recommended offer: $205k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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); 451 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent runs 32% 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

• It's been on market 164 days — a 12% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (7%) 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; extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,952 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• GRM: 9.3

CMA / ARV

• ARV (median comp): $244,000
• List price: $232,900
• Delta: -4.55%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
328 Callie Dr	0.00mi	3/2.5	1,460 (0%)	0mo	$242,000	$166	100
330 Callie Dr	0.00mi	3/2.5	1,460 (0%)	1mo	$244,900	$168	99
325 Callie Dr	0.00mi	3/2.5	1,460 (0%)	1mo	$246,900	$169	99
322 Callie Dr	0.00mi	3/2.5	1,471 (+1%)	0mo	$255,000	$173	99
337 Callie Dr	0.00mi	3/2.5	1,460 (0%)	2mo	$237,200	$162	98
333 Callie Dr	0.00mi	3/2.5	1,460 (0%)	2mo	$239,900	$164	98
335 Callie Dr	0.00mi	3/2.5	1,460 (0%)	4mo	$244,000	$167	97
329 Callie Dr	0.00mi	3/2.5	1,460 (0%)	4mo	$239,900	$164	96
327 Callie Dr	0.00mi	3/2.5	1,460 (0%)	5mo	$244,000	$167	96
323 Callie Dr	0.00mi	3/2.5	1,460 (0%)	5mo	$259,000	$177	96
321 Callie Dr	0.00mi	3/2.5	1,471 (+1%)	4mo	$254,900	$173	95

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: -19.0%
• Equity multiple: 0.35×
• Total profit: $-42,631
• Equity at exit: $34,726

10-year hold

• IRR: -15.9%
• Equity multiple: 0.18×
• Total profit: $-53,295
• Equity at exit: $20,137

Cash invested: $65,212 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 7 under contract
• Months of supply: 4.4 mo (23%/mo absorbed)
• Median asking: $239,900 ($164/sqft)
• Median days on market: 164 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +1.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32536

• Home prices YoY: -16.2%
• Rents YoY: 1.2%
• Active inventory: 451
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,221
• Tax est. 1.5%: −$291 /mo · $3,494/yr
• Insurance: −$97
• HOA: −$56
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-19

Break-even live

Break-even rent $2,108

Max offer price $230,202

Occupancy floor 96%

Sensitivity live

Price	-10% $142	-5% $62	+0% $-19	+5% $-99	+10% $-180
Rent	-10% $-183	-5% $-101	+0% $-19	+5% $64	+10% $146
Rate	-1.0pp $99	-0.5pp $41	base $-19	+0.5pp $-79	+1.0pp $-140

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: $58,225
• Closing costs: $6,987
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6260 Old Bethel Rd Crestview, FL	1.0–3.0	1.0–2.0	1253	$2,295	$1.83	62d	66	0.30mi
205 Powell Dr Crestview, FL	3.0	1.5	1008	$1,400	$1.39	93d	1	0.71mi
149 Shady Ln Crestview, FL	3.0	2.0	1680	$2,000	$1.19	93d	1	0.71mi
2544 Kingston Rd Crestview, FL	3.0	2.0	1533	$2,095	$1.37	70d	1	0.89mi
6381 Havenmist Ln Crestview, FL	4.0	2.0	1844	$1,900	$1.03	93d	1	1.12mi
2823 Lake Silver Rd Crestview, FL	3.0	2.0	1595	$2,300	$1.44	93d	1	1.26mi
2606 Saltgrass Way Crestview, FL	4.0	2.0	1387	$1,850	$1.33	70d	1	1.43mi
5735 Wildwood Rd Crestview, FL	3.0	1.5	1570	$1,875	$1.19	62d	1	1.47mi

HOA detail $56/mo · $672/yr

• Likely covers: pool

Listing history 50 events

1. 2026-08-08
   days on market $232,900 Active 164 DOM
2. 2026-08-07
   days on market $232,900 Active 163 DOM
3. 2026-08-06
   days on market $232,900 Active 162 DOM
4. 2026-08-05
   days on market $232,900 Active 161 DOM
5. 2026-08-04
   days on market $232,900 Active 160 DOM
6. 2026-08-03
   pricedays on market $232,900 Active 159 DOM
7. 2026-08-01
   price $239,900 Active 156 DOM
8. 2026-07-31
   days on market $229,900 Active 156 DOM
9. 2026-07-30
   pricedays on market $229,900 Active 155 DOM
10. 2026-07-29
    days on market $234,900 Active 154 DOM
11. 2026-07-27
    days on market $234,900 Active 152 DOM
12. 2026-07-25
    days on market $234,900 Active 150 DOM
13. 2026-07-24
    days on market $234,900 Active 149 DOM
14. 2026-07-23
    days on market $234,900 Active 148 DOM
15. 2026-07-22
    days on market $234,900 Active 147 DOM
16. 2026-07-22
    price $234,900 Active 146 DOM
17. 2026-07-21
    days on market $239,900 Active 146 DOM
18. 2026-07-18
    days on market $239,900 Active 143 DOM
19. 2026-07-16
    days on market $239,900 Active 141 DOM
20. 2026-07-16
    days on market $239,900 Active 140 DOM
21. 2026-07-14
    days on market $239,900 Active 139 DOM
22. 2026-07-13
    days on market $239,900 Active 138 DOM
23. 2026-07-12
    days on market $239,900 Active 137 DOM
24. 2026-07-11
    days on market $239,900 Active 136 DOM
25. 2026-07-10
    days on market $239,900 Active 135 DOM
26. 2026-07-09
    days on market $239,900 Active 134 DOM
27. 2026-07-08
    days on market $239,900 Active 133 DOM
28. 2026-07-07
    days on market $239,900 Active 132 DOM
29. 2026-07-06
    days on market $239,900 Active 131 DOM
30. 2026-07-05
    days on market $239,900 Active 130 DOM
31. 2026-07-04
    days on market $239,900 Active 129 DOM
32. 2026-07-03
    days on market $239,900 Active 128 DOM
33. 2026-07-02
    days on market $239,900 Active 127 DOM
34. 2026-07-01
    days on market $239,900 Active 126 DOM
35. 2026-06-30
    days on market $239,900 Active 125 DOM
36. 2026-06-29
    price $239,900 Active 124 DOM
37. 2026-06-29
    days on market $244,900 Active 124 DOM
38. 2026-06-28
    days on market $244,900 Active 123 DOM
39. 2026-06-28
    days on market $244,900 Active 122 DOM
40. 2026-06-27
    days on market $244,900 Active 121 DOM
41. 2026-06-25
    days on market $244,900 Active 119 DOM
42. 2026-06-23
    days on market $244,900 Active 117 DOM
43. 2026-06-21
    days on market $244,900 Active 116 DOM
44. 2026-06-18
    days on market $244,900 Active 113 DOM
45. 2026-06-17
    days on market $244,900 Active 112 DOM
46. 2026-06-16
    days on market $244,900 Active 111 DOM
47. 2026-06-15
    days on market $244,900 Active 110 DOM
48. 2026-06-14
    days on market $244,900 Active 108 DOM
49. 2026-06-13
    days on market $244,900 Active 107 DOM
50. 2026-06-10
    pricedays on market $244,900 Active 105 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 5 d/yr ≥107°F today · 14 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: $25,016
• − Mortgage interest: −$13,046
• − Property taxes: −$3,494
• − Insurance: −$1,164
• − Repairs & maintenance: −$2,001
• − Management: −$2,001
• − HOA: −$672
• − Depreciation: −$6,775
• Taxable loss: −$4,138
• Est. tax savings @ 24.0%: +$993
• After-tax cash flow: $769/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 · 12 photos

Excellent 95/100 None rehab

This move-in-ready townhome in Crestview, FL, offers a seamless open layout with modern amenities and a beautiful exterior. It's a great investment opportunity with excellent curb appeal and a smart home system.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Smart Home 'Connect' system — Improves convenience and adds value ↑

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary Bob Sikes Elementary School C+ FL #816/2,144 Nat'l #9,263/41,679 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

• Census place: Crestview, FL
• County: Okaloosa County · 235,133 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: 10% of renters

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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%

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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%

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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

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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

-1.6% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $245,900 ECAR
• 2026-05-11 Price Changed $246,900 ECAR
• 2026-05-08 Price Changed $244,900 ECAR
• 2026-04-20 Price Changed $246,900 ECAR
• 2026-03-31 Price Changed $244,900 ECAR
• 2026-02-28 Listed $249,900 Zillow
• 2026-02-25 Listed $249,900 ECAR