4505 Edgewood Dr · Milton, FL 32583

$129,000

3 bd · 2.0 ba · 840 sqft · Manufactured public records · 133 Days on market

Built 2003 8,842 sqft lot

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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 +28.0/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable and functional, this 2-bedroom, 2-bath home offers simple, efficient living. The split floor plan provides two full bedrooms and bathrooms, allowing for everyday comfort and privacy. The large screened-in patio offers a peaceful extension of the home, perfect for quiet mornings, casual evenings, or simply enjoying the fresh air. The detached storage shed offers convenient space for tools, storage, or hobbies. Whether you’re downsizing, purchasing your first home, or looking for an affordable option focused on functionality, this home presents a solid opportunity. Don't miss this opportunity!

Key facts

• Split floor plan
• 8,842 sq ft lot
• Built 2003

Tags

• SPLIT FLOOR PLAN
• LARGE SCREENED-IN PATIO
• DETACHED STORAGE SHED

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Driveway with open parking
• Utilities: Public water; Electric with circuit breakers; Septic tank
• Home design: Mobile/Manufactured home; One story; Off-grade foundation
• Construction: Frame construction; Approx. 840 building area
• Exterior features: Metal roof; Paved, county-maintained road access; Does not allow horses

Interior

• Kitchen: Electric water heater
• Bedrooms: Primary bedroom on the first floor (approx. 10' x 14')
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Kitchen/dining combo; Vinyl and carpet flooring
• Laundry & utility: Septic system (sewer: septic tank)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 fast (+4.5%/yr); 806 active listings in the ZIP; 3 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 $892 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.18% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.35%
• DSCR: 1.59
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $57,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5717 Meadow Rd	0.55mi	2/2.0 (-1)	959 (+14%)	18mo	$65,000	$68	30

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 · 4.53% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,847
• Equity at exit: $19,234

10-year hold

• IRR: 13.0%
• Equity multiple: 2.11×
• Total profit: $40,090
• Equity at exit: $11,154

Cash invested: $36,120 (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 32583

• Home prices YoY: -11.3%
• Rents YoY: 4.5%
• Active inventory: 806
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,522 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$70 /mo · $842/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $335

Break-even live

Break-even rent $1,097

Max offer price $129,000

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4389 Park Ct Trlr Park , FL	2.0	1.0	700	$1,100	$1.57	23d	1	0.30mi
4355 Park Ct Trlr Park , FL	2.0	1.5	1000	$1,200	$1.20	23d	1	0.39mi
5385 E Avenida de Golf Milton, FL	2.0	1.0	792	$1,200	$1.52	14d	1	1.25mi

Listing history 16 events

1. 2026-06-18
   days on market $129,000 Active 133 DOM
2. 2026-06-17
   days on market $129,000 Active 132 DOM
3. 2026-06-16
   days on market $129,000 Active 131 DOM
4. 2026-06-15
   days on market $129,000 Active 130 DOM
5. 2026-06-14
   days on market $129,000 Active 128 DOM
6. 2026-06-10
   days on market $129,000 Active 125 DOM
7. 2026-06-09
   days on market $129,000 Active 124 DOM
8. 2026-06-08
   days on market $129,000 Active 123 DOM
9. 2026-06-07
   days on market $129,000 Active 122 DOM
10. 2026-06-05
    days on market $129,000 Active 119 DOM
11. 2026-06-03
    days on market $129,000 Active 118 DOM
12. 2026-06-02
    days on market $129,000 Active 117 DOM
13. 2026-06-01
    days on market $129,000 Active 116 DOM
14. 2026-05-31
    days on market $129,000 Active 115 DOM
15. 2026-05-31
    days on market $129,000 Active 114 DOM
16. 2026-02-05
    listed $129,000 Active

ⓘ 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: $842 · $70/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$229/yr (+$19/mo · 27.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,263
• − Mortgage interest: −$7,226
• − Property taxes: −$842
• − Insurance: −$1,442
• − Repairs & maintenance: −$1,461
• − Management: −$1,461
• − Depreciation: −$3,753
• Taxable income: $2,078
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $3,527/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

• County: Santa Rosa County · 194,764 people
• City population: 69,025
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 31,828
• Household income: $85,440
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 122.0

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 (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3%

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: ▼ -38.35%
• Current HPI: 301.8819
• Rent YoY: ▲ 4.53%
• 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

1 event — show timeline

• 2026-02-05 Listed $129,000 PARMLS

Property tax history

+3.8%/yr

Latest (2025): $842 · +2.8% YoY. Source: county tax records.