1219 Walter Ave · Crestview, FL 32536

$190,000

2 bd · 2.0 ba · 1,254 sqft · Townhouse public records · 33 Days on market

Built 1982 3,920 sqft lot

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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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bedroom/1.5 bath townhome conveniently located in Crestview. This updated end unit has been well maintained and it shows!!! It features a large living room with a fireplace, an open floorplan downstairs that is perfect for entertaining and a covered back patio for relaxing outside. Refrigerator, washer & dryer do not convey. This is one you don't want to miss!!

Key facts

• Open floor plan
• Brand new ac unit
• Large living room

Tags

• LARGE LIVING ROOM
• FIREPLACE
• OPEN FLOOR PLAN
• COVERED BACK PATIO
• BRAND NEW AC UNIT
• ELECTRICAL PANEL

Property features AI

Finance

• Other: Total building area: 1,254 (source: county records)
• HOA & community: No subdivision

Exterior

• Parking: 2 garage spaces; 2 driveway spaces
• Utilities: Electric service; Public water
• Home design: Townhome style; 2 stories; Built in 1982
• Construction: Vinyl siding; Composite shingle and metal roof; Foundation information not provided
• Exterior features: Lot features: see remarks; Residential multi-family zoning

Interior

• Kitchen: Kitchen includes a breakfast bar
• Bedrooms: 2 bedrooms; Master bedroom located on the second floor
• Flooring: Tile flooring
• Bathrooms: 2 bathrooms (1 full, 1 half)
• Heating & cooling: Central air conditioning
• Interior features: Breakfast bar; Living room on the first floor; Dining area on the first floor; Kitchen on the first floor
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $179 ($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 $164k (13.8% below list).
• Recommended offer: $164k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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); 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); 349 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1k of loan paydown is wiped out by about $6k 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 33 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $75k; list at $190k implies a 154% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,874 (13.8% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.86% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.17% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.58×
• Total profit: $-22,425
• Equity at exit: $28,330

10-year hold

• IRR: -5.3%
• Equity multiple: 0.68×
• Total profit: $-16,932
• Equity at exit: $16,428

Cash invested: $53,200 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,639 high
• Mortgage (P&I): −$996
• Tax from tax record: −$40 /mo · $476/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $179

Break-even live

Break-even rent $1,412

Max offer price $190,000

Occupancy floor 84%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Arbor Lake Dr Crestview, FL	3.0	2.5	1755	$1,900	$1.08	13d	1	0.44mi
830 Arbor Lake Dr Crestview, FL	2.0	2.5	1200	$1,400	$1.17	13d	1	0.44mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,375	$1.25	21d	1	0.47mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,400	$1.27	43d	1	0.47mi
498 North Ave E Unit A Crestview, FL	2.0	2.0	1081	$1,450	$1.34	43d	1	0.52mi
205 Powell Dr Crestview, FL	3.0	1.5	1008	$1,400	$1.39	43d	1	0.58mi
326 Dixie St Crestview, FL	3.0	1.0	1386	$1,400	$1.01	43d	1	0.62mi
149 Shady Ln Crestview, FL	3.0	2.0	1680	$2,000	$1.19	43d	1	0.79mi
197 W 1st Ave Crestview, FL	3.0	2.0	1547	$2,395	$1.55	21d	1	0.82mi
800 Spring Creek Blvd Crestview, FL	1.0–3.0	1.0–2.0	1009	$1,538	$1.52	13d	28	0.98mi
507 Eisenhower Dr Crestview, FL	3.0	2.0	1809	$2,200	$1.22	43d	1	1.22mi
812 Carlton St Crestview, FL	3.0	2.5	1393	$1,495	$1.07	21d	1	1.24mi
2544 Kingston Rd Crestview, FL	3.0	2.0	1533	$2,095	$1.37	21d	1	1.26mi
398 N Spring St Crestview, FL	2.0	1.0	1200	$1,300	$1.08	43d	1	1.27mi
5735 Wildwood Rd Crestview, FL	3.0	1.5	1570	$1,875	$1.19	13d	1	1.31mi
132 Cabana Way Crestview, FL	3.0	2.0	1408	$1,750	$1.24	13d	1	1.31mi
502 Hyde Park Dr Crestview, FL	3.0	2.0	1302	$1,795	$1.38	13d	1	1.42mi
168 Cabana Way Crestview, FL	3.0	2.0	1100	$1,700	$1.55	21d	1	1.50mi

Listing history 30 events

1. 2026-06-18
   days on market $190,000 Active 33 DOM
2. 2026-06-17
   days on market $190,000 Active 32 DOM
3. 2026-06-16
   days on market $190,000 Active 31 DOM
4. 2026-06-15
   days on market $190,000 Active 30 DOM
5. 2026-06-14
   days on market $190,000 Active 28 DOM
6. 2026-06-13
   days on market $190,000 Active 27 DOM
7. 2026-06-10
   days on market $190,000 Active 25 DOM
8. 2026-06-09
   days on market $190,000 Active 24 DOM
9. 2026-06-08
   days on market $190,000 Active 23 DOM
10. 2026-06-07
    days on market $190,000 Active 22 DOM
11. 2026-06-05
    days on market $190,000 Active 19 DOM
12. 2026-06-02
    days on market $190,000 Active 17 DOM
13. 2026-06-01
    days on market $190,000 Active 16 DOM
14. 2026-05-31
    days on market $190,000 Active 15 DOM
15. 2026-05-30
    pricedays on market $190,000 Active 14 DOM
16. 2026-05-16
    listed $195,000 Active
17. 2016-07-20
    soldstatus $74,900
18. 2016-07-08
    soldstatus $74,900 378-char remark

    Show marketing remark (378 chars)

    Charming 2 bedroom/1.5 bath townhome conveniently located in Crestview. This updated end unit has been well maintained and it shows!!! It features a large living room with a fireplace, an open floorplan downstairs that is perfect for entertaining and a covered back patio for relaxing outside. Refrigerator, washer & dryer do not convey. This is one you don't want to miss!!

19. 2016-07-08
    soldstatus $74,900 378-char remark

    Show marketing remark (378 chars)

    Charming 2 bedroom/1.5 bath townhome conveniently located in Crestview. This updated end unit has been well maintained and it shows!!! It features a large living room with a fireplace, an open floorplan downstairs that is perfect for entertaining and a covered back patio for relaxing outside. Refrigerator, washer & dryer do not convey. This is one you don't want to miss!!

20. 2016-05-20
    listed $74,900 378-char remark

    Show marketing remark (378 chars)

    Charming 2 bedroom/1.5 bath townhome conveniently located in Crestview. This updated end unit has been well maintained and it shows!!! It features a large living room with a fireplace, an open floorplan downstairs that is perfect for entertaining and a covered back patio for relaxing outside. Refrigerator, washer & dryer do not convey. This is one you don't want to miss!!

21. 2009-11-02
    historical
22. 2009-05-02
    listed $99,900
23. 2009-05-02
    listed $99,900
24. 2007-03-02
    soldstatus $85,000
25. 2007-02-28
    soldstatus $85,000
26. 2007-02-28
    soldstatus $85,000
27. 2006-09-26
    listed $97,000
28. 2006-09-26
    listed $97,000
29. 1993-06-21
    soldstatus $35,000
30. 1983-12-01
    soldstatus $29,900

ⓘ 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: $476 · $40/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$1,101/yr (+$92/mo · 231.1%)

ⓘ 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 ≥107°F today · 19 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: $19,665
• − Mortgage interest: −$10,643
• − Property taxes: −$476
• − Insurance: −$950
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$5,527
• Taxable loss: −$1,078
• Est. tax savings @ 24.0%: +$259
• After-tax cash flow: $2,411/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

• Census place: Crestview, FL
• 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

+552.2% since first listed

15 events — show timeline

• 2026-05-16 Listed $195,000 ECAR
• 2016-07-20 Sold (Public Records) $74,900 Public Records
• 2016-07-08 Sold (MLS) $74,900 ECAR
• 2016-07-08 Sold (MLS) $74,900 NAMLS
• 2016-05-20 Listed $74,900 NAMLS
• 2009-11-02 Listing Removed — NAMLS
• 2009-05-02 Listed $99,900 NAMLS
• 2009-05-02 Listed $99,900 ECAR
• 2007-03-02 Sold (Public Records) $85,000 Public Records
• 2007-02-28 Sold (MLS) $85,000 NAMLS
• 2007-02-28 Sold (MLS) $85,000 ECAR
• 2006-09-26 Listed $97,000 NAMLS
• 2006-09-26 Listed $97,000 ECAR
• 1993-06-21 Sold (Public Records) $35,000 Public Records
• 1983-12-01 Sold (Public Records) $29,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $476 · +1.5% YoY. Source: county tax records.