742 Kit Dr · Crestview, FL 32536

$149,900

2 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 796 Days on market

Built 1949 0.42 ac lot $111/sqft · 25% below area Est $212k · 29% under

---

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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.9/10.0
• Schools +5.2/10.0
• 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

4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

Key facts

• 0.42 acre lot
• Built 1949
• Listed 796 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

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 ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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); 349 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1k 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 796 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.
• Current owner paid $50k; list at $150k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 796 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 1949 — 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: 1.09% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.29%
• DSCR: 1.46
• GRM: 7.6

CMA / ARV

• ARV (median comp): $212,420
• List price: $149,900
• Delta: -29.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
166 Hudson St	0.18mi	2/1.0	1,170 (-14%)	14mo	$152,000	$130	58
650 Mayo Trl	0.17mi	3/2.0 (+1)	1,220 (-10%)	12mo	$165,000	$135	57
126 Cabana Way	0.53mi	3/2.0 (+1)	1,350 (-0%)	23mo	$220,000	$163	47
231 Holland St	0.55mi	3/2.0 (+1)	1,297 (-4%)	21mo	$219,900	$170	41
194 Mary Ln	0.71mi	3/2.0 (+1)	1,286 (-5%)	12mo	$265,000	$206	40
108 Butler Cir	0.69mi	3/2.0 (+1)	1,310 (-3%)	21mo	$94,000	$72	36
287 Lindberg St	0.59mi	3/2.0 (+1)	1,476 (+9%)	16mo	$258,000	$175	35
170 Cabana Way	0.61mi	3/2.0 (+1)	1,180 (-13%)	20mo	$239,900	$203	25

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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-4,359
• Equity at exit: $22,351

10-year hold

• IRR: 4.9%
• Equity multiple: 1.33×
• Total profit: $13,878
• Equity at exit: $12,961

Cash invested: $41,972 (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 32536

• Home prices YoY: -16.2%
• Rents YoY: 1.2%
• Active inventory: 349
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,633 high
• Mortgage (P&I): −$786
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $360

Break-even live

Break-even rent $1,178

Max offer price $149,900

Occupancy floor 73%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Spring Creek Blvd Crestview, FL	1.0–3.0	1.0–2.0	1009	$1,538	$1.52	13d	28	0.36mi
132 Cabana Way Crestview, FL	3.0	2.0	1408	$1,750	$1.24	13d	1	0.48mi
168 Cabana Way Crestview, FL	3.0	2.0	1100	$1,700	$1.55	21d	1	0.62mi
197 W 1st Ave Crestview, FL	3.0	2.0	1547	$2,395	$1.55	21d	1	0.66mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,400	$1.27	43d	1	0.95mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,375	$1.25	21d	1	0.95mi
830 Arbor Lake Dr Crestview, FL	2.0	2.5	1200	$1,400	$1.17	13d	1	0.96mi
408 Arbor Lake Dr Crestview, FL	3.0	2.5	1755	$1,900	$1.08	13d	1	1.01mi
398 N Spring St Crestview, FL	2.0	1.0	1200	$1,300	$1.08	43d	1	1.03mi
498 North Ave E Unit A Crestview, FL	2.0	2.0	1081	$1,450	$1.34	43d	1	1.07mi
816 W Walnut Ave Crestview, FL	3.0	2.0	1297	$1,595	$1.23	43d	1	1.12mi
326 Dixie St Crestview, FL	3.0	1.0	1386	$1,400	$1.01	43d	1	1.18mi
503 W Griffith Ave Crestview, FL	3.0	1.0	962	$1,395	$1.45	43d	1	1.36mi
401 S Booker St Crestview, FL	3.0	1.5	1040	$1,225	$1.18	43d	1	1.36mi

Listing history 22 events

1. 2026-06-18
   days on market $149,900 Active 796 DOM
2. 2026-06-17
   days on market $149,900 Active 795 DOM
3. 2026-06-16
   days on market $149,900 Active 794 DOM
4. 2026-06-15
   days on market $149,900 Active 793 DOM
5. 2026-06-14
   days on market $149,900 Active 791 DOM
6. 2026-06-13
   days on market $149,900 Active 790 DOM
7. 2026-06-10
   days on market $149,900 Active 788 DOM
8. 2026-06-09
   days on market $149,900 Active 787 DOM
9. 2026-06-08
   days on market $149,900 Active 786 DOM
10. 2026-06-07
    days on market $149,900 Active 785 DOM
11. 2026-06-05
    days on market $149,900 Active 782 DOM
12. 2026-06-02
    days on market $149,900 Active 780 DOM
13. 2026-06-01
    days on market $149,900 Active 779 DOM
14. 2026-05-31
    days on market $149,900 Active 778 DOM
15. 2026-05-30
    days on market $149,900 Active 777 DOM
16. 2026-01-06
    status Active 638-char remark

    Show marketing remark (638 chars)

    4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

17. 2025-12-12
    price $149,900 638-char remark

    Show marketing remark (638 chars)

    4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

18. 2025-09-23
    price $134,900 638-char remark

    Show marketing remark (638 chars)

    4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

19. 2025-03-05
    status Active 638-char remark

    Show marketing remark (638 chars)

    4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

20. 2024-07-31
    price $139,900 638-char remark

    Show marketing remark (638 chars)

    4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

21. 2023-12-06
    listed $149,900 Active 638-char remark

    Show marketing remark (638 chars)

    4 Lots Bring your building plans! Seller will consider seller financing with a strong downpayment, contingent on seller approval of credit report and loan application. Rental investment with room for multifamily or a mobile home park. Great Opportunity!! Fixer Upper! Metal Roof! . 42 acres Zoned Mixed use 4Bed/1.5 Bath. Approximate 1442 sqft heated/cooled with a metal roof. Zoned as Mixed use property and located in the middle of town with Lots of new growth and just a short drive from local schools, hospital, south Publix, a variety of restaurants, and the Crestview Commons, Hwy 85 and I-10 are in close proximity to the property.

22. 2005-01-26
    soldstatus $50,000

ⓘ 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: $981 · $82/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$263/yr (+$22/mo · 26.9%)

ⓘ 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 8/10 Severe 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: $19,598
• − Mortgage interest: −$8,397
• − Property taxes: −$981
• − Insurance: −$750
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$4,361
• Taxable income: $1,975
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $3,845/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

+199.8% since first listed

7 events — show timeline

• 2026-01-06 Relisted — ECAR
• 2025-12-12 Price Changed $149,900 ECAR
• 2025-09-23 Price Changed $134,900 ECAR
• 2025-03-05 Relisted — ECAR
• 2024-07-31 Price Changed $139,900 ECAR
• 2023-12-06 Listed $149,900 ECAR
• 2005-01-26 Sold (Public Records) $50,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $981 · +0.4% YoY. Source: county tax records.