2555 Sunset · Crestview, FL 32536

$239,000

3 bd · 2.0 ba · 1,032 sqft · SingleFamily public records · 18 Days on market

Built 1989 0.40 ac lot $232/sqft · at area comps Est $231k · at est.

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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 +15.2/30.0
• ARV discount +6.0/15.0
• Schools +5.2/10.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS PROPERTY IS HUD OWNED & SUBJECT TO HUD'S RULES AND BIDDING PRECEDURES. PROPERTY IS OFFERED ''AS-IS'' WITH ALL FAULTS FOR BIDDING RULES & REGULATIONS SEE WWW.FIRSTPRESTON.COM PARTICIPATING BROKERS MAY RECEIVE A COMMISION UP TO 5 %PROPERTY IS FHA INSURABLE IN IT'S PRESENT CONDITION. HUD CASE # 091-284232

Key facts

• Large lot
• New light fixtures
• Lvp flooring

Tags

• REMODELED HOME
• LARGE LOT
• CORNER LOT
• LVP FLOORING
• HVAC SYSTEM
• NEW LIGHT FIXTURES

Property features AI

Finance

• Financial info: Seller will accept Conventional, FHA, VA, or Other financing

Exterior

• Utilities: Electric service; Public water
• Home design: Detached single-family home; Residential property; Construction complete
• Construction: Frame construction; Built in 1989
• Exterior features: Fenced back yard; Corner lot (100 x 175)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator with ice maker; Smooth electric cooktop; Electric stove/oven
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (air-to-air) heating; Has central cooling
• Interior features: Single-story layout; Smoke detector

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $83 ($991/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 $193k (19.3% below list).
• Recommended offer: $193k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Bob Sikes Elementary School (math 53% / reading 60%, grade C+, #816 of 2,144 statewide, top 39%, 829 students, 52% FRL); Davidson Middle School (math 59% / reading 56%, grade B, #157 of 571 statewide, top 28%, 1,149 students, 55% FRL); Crestview High School (math 49% / reading 54%, grade D+, #167 of 667 statewide, top 25%, 2,315 students, 42% FRL).
• Market conditions: Rents rising (+1.2%/yr); 351 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 18 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $49k; list at $239k implies a 388% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,942 (19.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.81% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 10.3

CMA / ARV

• ARV (median comp): $231,113
• List price: $239,000
• Delta: 3.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2534 Sunset Dr	0.15mi	3/2.0	1,066 (+3%)	5mo	$198,000	$186	84
2533 Sunset Dr	0.19mi	3/2.0	1,034 (+0%)	12mo	$244,900	$237	81
2517 Sunset Dr	0.14mi	3/2.0	936 (-9%)	1mo	$197,000	$210	77
2512 Sunset Dr	0.10mi	3/2.0	941 (-9%)	14mo	$175,000	$186	69
109 Beacons Bend Rd	0.42mi	3/2.0	1,028 (-0%)	22mo	$236,800	$230	62
2504 Sunset Dr	0.08mi	2/2.0 (-1)	1,150 (+11%)	19mo	$157,500	$137	57
5875 Oak Hill Rd	0.49mi	3/2.0	1,141 (+11%)	4mo	$145,000	$127	56

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: -15.8%
• Equity multiple: 0.45×
• Total profit: $-37,058
• Equity at exit: $35,636

10-year hold

• IRR: -10.6%
• Equity multiple: 0.41×
• Total profit: $-39,704
• Equity at exit: $20,664

Cash invested: $66,920 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,929 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$89 /mo · $1,065/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $83

Break-even live

Break-even rent $1,825

Max offer price $239,000

Occupancy floor 91%

Sensitivity live

Price	-10% $218	-5% $150	+0% $83	+5% $15	+10% $-53
Rent	-10% $-70	-5% $6	+0% $83	+5% $159	+10% $235
Rate	-1.0pp $203	-0.5pp $143	base $83	+0.5pp $21	+1.0pp $-42

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Powell Dr Crestview, FL	3.0	1.5	1008	$1,400	$1.39	45d	1	1.09mi
6260 Old Bethel Rd Crestview, FL	1.0–3.0	1.0–2.0	1253	$2,295	$1.83	15d	66	1.12mi
2606 Saltgrass Way Crestview, FL	4.0	2.0	1387	$1,850	$1.33	23d	1	1.31mi

Listing history 20 events

1. 2026-06-18
   days on market $239,000 Active 18 DOM
2. 2026-06-17
   days on market $239,000 Active 17 DOM
3. 2026-06-16
   days on market $239,000 Active 16 DOM
4. 2026-06-15
   days on market $239,000 Active 15 DOM
5. 2026-06-14
   days on market $239,000 Active 13 DOM
6. 2026-06-13
   days on market $239,000 Active 12 DOM
7. 2026-06-10
   days on market $239,000 Active 10 DOM
8. 2026-06-09
   days on market $239,000 Active 9 DOM
9. 2026-06-08
   days on market $239,000 Active 8 DOM
10. 2026-06-07
    days on market $239,000 Active 7 DOM
11. 2026-06-05
    days on market $239,000 Active 4 DOM
12. 2026-06-02
    days on market $239,000 Active 2 DOM
13. 2026-06-01
    days on marketlisting id $239,000 Active 1 DOM
14. 2026-05-31
    days on market $239,000 Active 20 DOM
15. 2026-05-30
    days on market $239,000 Active 19 DOM
16. 2026-05-12
    listed $239,000 Active 988-char remark
17. 2000-01-14
    soldstatus $48,950 316-char remark

    Show marketing remark (316 chars)

    THIS PROPERTY IS HUD OWNED & SUBJECT TO HUD'S RULES AND BIDDING PRECEDURES. PROPERTY IS OFFERED ''AS-IS'' WITH ALL FAULTS FOR BIDDING RULES & REGULATIONS SEE WWW.FIRSTPRESTON.COM PARTICIPATING BROKERS MAY RECEIVE A COMMISION UP TO 5 %PROPERTY IS FHA INSURABLE IN IT'S PRESENT CONDITION. HUD CASE # 091-284232

18. 1999-07-21
    listed $50,784 316-char remark

    Show marketing remark (316 chars)

    THIS PROPERTY IS HUD OWNED & SUBJECT TO HUD'S RULES AND BIDDING PRECEDURES. PROPERTY IS OFFERED ''AS-IS'' WITH ALL FAULTS FOR BIDDING RULES & REGULATIONS SEE WWW.FIRSTPRESTON.COM PARTICIPATING BROKERS MAY RECEIVE A COMMISION UP TO 5 %PROPERTY IS FHA INSURABLE IN IT'S PRESENT CONDITION. HUD CASE # 091-284232

19. 1996-03-01
    soldstatus $55,000
20. 1993-01-01
    soldstatus $46,000

ⓘ 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: $1,065 · $89/mo
• Projected year-2 tax: $1,984 · $165/mo
• Expected delta: +$919/yr (+$77/mo · 86.3%)

ⓘ 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 8/10 Severe 7 d/yr ≥107°F today · 18 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: $23,153
• − Mortgage interest: −$13,388
• − Property taxes: −$1,065
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − Depreciation: −$6,953
• Taxable loss: −$3,152
• Est. tax savings @ 24.0%: +$756
• After-tax cash flow: $1,747/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

• 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

+419.6% since first listed

5 events — show timeline

• 2026-05-31 Listed $239,000 NAMLS
• 2000-01-14 Sold (MLS) $48,950 ECAR
• 1999-07-21 Listed $50,784 ECAR
• 1996-03-01 Sold (Public Records) $55,000 Public Records
• 1993-01-01 Sold (Public Records) $46,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,065 · -0.7% YoY. Source: county tax records.