4699 Easter St · Pea Ridge, FL 32571

$225,000

3 bd · 2.0 ba · 1,595 sqft · SingleFamily public records · 87 Days on market

Built 1985 0.37 ac lot Est $332k · 32% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +5.3/10.0
• 1% rule +4.1/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best priced home in Pace! This home is the church's old parsonage and it is rock bottom priced! Garage door will be replaced and home pressure washed next week. Huge bedrooms, wonderful brick fireplace, big eat-in kitchen and inside laundry room!

Key facts

• Granite fireplace
• Stainless appliances
• Florida room

Tags

• GRANITE FIREPLACE
• SOLID RED OAK CABINETS
• STAINLESS APPLIANCES
• FLORIDA ROOM
• POWERED WORKSHOP
• MULTIPLE STORAGE SHEDS

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Attached 1-car garage; 1 covered parking space (total 1 parking space)
• Utilities: Public water; Copper electrical wiring
• Home design: One-story brick home; Resale property; Not attached to other properties; Homestead eligible
• Construction: Composition roof; Slab foundation; Brick construction; One level
• Exterior features: Paved, county-maintained road access; Central access lot feature

Interior

• Kitchen: Red oak cabinets; Updated within last 11–14 years; Electric water heater
• Bedrooms: Primary bedroom on the first floor; Additional bedrooms on the first floor
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Living/dining combo; Updated kitchen
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/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 $205k (9.1% below list).
• Recommended offer: $205k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.5% in Pea Ridge — 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 69/100 on livability (#459 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D-, amenities F, 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 (+2.7%/yr); 665 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $225k implies a 156% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,502 (9.1% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $331,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5143 Esterbrooke Blvd Unit 11-G (LOT )	0.40mi	3/2.0	1,569 (-2%)	0mo	$328,012	$209	78
4854 Turtledove St Unit 21-E (LOT )	0.42mi	3/2.0	1,569 (-2%)	0mo	$327,750	$209	78
4874 Turtledove St Unit 26-E (LOT )	0.45mi	3/2.0	1,569 (-2%)	0mo	$327,127	$208	76
4889 Bonneville St Unit 2-E (LOT )	0.47mi	3/2.0	1,569 (-2%)	5mo	$326,805	$208	71
4877 Bonneville St Unit 5-E (LOT )	0.47mi	3/2.0	1,569 (-2%)	6mo	$326,060	$208	70
5224 Esterbrooke Blvd Unit 2-L (LOT )	0.53mi	3/2.0	1,569 (-2%)	4mo	$327,242	$209	69
4870 Turtledove St Unit 25-E (LOT )	0.44mi	3/2.0	1,710 (+7%)	1mo	$340,522	$199	66
5220 Esterbrooke Blvd Unit 3-L (LOT )	0.52mi	3/2.0	1,710 (+7%)	2mo	$339,341	$198	62
4760 La Casa Cir	0.28mi	4/2.0 (+1)	1,815 (+14%)	0mo	$300,000	$165	59
5337 Adeline Cir	0.50mi	3/2.0	1,820 (+14%)	1mo	$380,000	$209	53
5247 Catalina St	0.63mi	3/2.0	1,430 (-10%)	3mo	$251,000	$176	51
4460 Santa Villa Dr	0.71mi	3/1.5	1,400 (-12%)	4mo	$215,000	$154	42

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 · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-24,433
• Equity at exit: $33,548

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-7,544
• Equity at exit: $19,454

Cash invested: $63,000 (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 32571

• Home prices YoY: -17.7%
• Rents YoY: 2.7%
• Active inventory: 665
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,045 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$143 /mo · $1,718/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $199

Break-even live

Break-even rent $1,794

Max offer price $225,000

Occupancy floor 85%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4624 Malay Cir Milton, FL	4.0	2.0	1787	$2,085	$1.17	14d	1	0.43mi
4933 Bell Ridge Ln Milton, FL	1.0–3.0	1.0–2.0	865	$1,437	$1.66	14d	8	0.67mi
4496 Fiske St Milton, FL	3.0	2.0	1418	$1,850	$1.30	14d	1	0.99mi

Listing history 16 events

1. 2026-06-18
   days on market $225,000 Active 87 DOM
2. 2026-06-17
   price $225,000 Active 86 DOM
3. 2026-06-17
   days on market $230,000 Active 86 DOM
4. 2026-06-16
   days on market $230,000 Active 85 DOM
5. 2026-06-15
   days on market $230,000 Active 84 DOM
6. 2026-06-14
   days on market $230,000 Active 82 DOM
7. 2026-06-10
   days on market $230,000 Active 79 DOM
8. 2026-06-09
   days on market $230,000 Active 78 DOM
9. 2026-06-08
   days on market $230,000 Active 77 DOM
10. 2026-06-07
    days on market $230,000 Active 76 DOM
11. 2026-06-05
    days on market $230,000 Active 73 DOM
12. 2026-06-03
    days on market $230,000 Active 72 DOM
13. 2026-06-02
    days on market $230,000 Active 71 DOM
14. 2026-06-01
    days on market $230,000 Active 70 DOM
15. 2026-05-31
    days on market $230,000 Active 69 DOM
16. 2026-05-31
    days on market $230,000 Active 68 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: $1,718 · $143/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$149/yr (+$12/mo · 8.7%)

ⓘ 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 9/10 Extreme 7 d/yr ≥105°F today · 20 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: $24,540
• − Mortgage interest: −$12,603
• − Property taxes: −$1,718
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,963
• − Management: −$1,963
• − Depreciation: −$6,545
• Taxable loss: −$1,379
• Est. tax savings @ 24.0%: +$331
• After-tax cash flow: $2,715/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 — Pea Ridge

• Score: 69/100
• State rank: #459
• US rank: #8316

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment A- Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pea Ridge, FL
• County: Santa Rosa County · 194,764 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 42,171
• Household income: $87,617
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 301.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 9% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -62.39%
• Current HPI: 290.2953
• Rent YoY: ▲ 2.72%
• 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

+318.2% since first listed

10 events — show timeline

• 2026-05-27 Relisted — PARMLS
• 2026-01-25 Listing Removed — PARMLS
• 2026-01-16 Relisted — PARMLS
• 2025-12-27 Listing Removed — PARMLS
• 2025-11-14 Price Changed $230,000 PARMLS
• 2025-10-30 Listed $240,000 PARMLS
• 2003-05-14 Sold (Public Records) $87,900 Public Records
• 2003-05-07 Sold (MLS) $87,900 PARMLS
• 2003-03-10 Listed $89,900 PARMLS
• 1987-09-01 Sold (Public Records) $55,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $1,718 · +55.6% YoY. Source: county tax records.