1325 Greendale Ave #3 · Wright, FL 32547

$149,900

2 bd · 2.0 ba · 1,006 sqft · Townhouse public records · 17 Days on market

Built 1989 Est $217k · 31% under $121/mo HOA · 7% of rent

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.5/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this Great Townhome end unit. Perfect for Investors. The Master bedroom has walk-in closet. Full bathroom upstairs, half bath downstairs. Large laundry and storage room off kitchen with washer/dryer. Community in-ground pool, picnic area with BBQ Grill, Pavillion and Gazebo just out your back door to enjoy especially during these hot summer days!

Key facts

• $121 HOA
• 6 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Community features include BBQ pit/grill, dumpster, pavilion/gazebo, picnic area, and pool

Exterior

• Parking: 2 assigned parking spaces; 4 street parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service
• Home design: Townhome; 2 stories; Built in 1989; Resid Multi-Family zoning
• Construction: Wood siding; Composite shingle roof; Slab foundation
• Exterior features: Outdoor grill; Pavilion/gazebo; Screened porch; Level lot with sidewalk; Community in-ground pool

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 2 bedrooms (two are on the second level)
• Flooring: Tile; Carpet
• Bathrooms: 2 bathrooms (1 full bath on second level, 1 half bath on first level)
• Heating & cooling: Central heating; Central air; Ceiling fans; Electric heat control
• Interior features: Washer/Dryer hookup; Smoke detector(s)
• Laundry & utility: Washer and dryer included in appliances listing (washer and dryer present); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/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: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.2% in Wright — 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 80/100 on livability (#117 in FL, #1,790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities 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: Kenwood Elementary School (math 68% / reading 64%, grade B+, #492 of 2,144 statewide, top 23%, 545 students, 58% FRL); Choctawhatchee Senior High School (math 42% / reading 50%, grade D-, #220 of 667 statewide, top 33%, 1,677 students, 52% FRL) — zoned schools average 55% FRL vs 36% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 231 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y 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 $35k; list at $150k implies a 328% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.15% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.60%
• DSCR: 1.34
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $217,296
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1325 Greendale Ave #17	0.00mi	2/1.5	968 (-4%)	3mo	$84,250	$87	89
1325 Greendale Ave #25	0.00mi	2/1.5	968 (-4%)	7mo	$125,000	$129	86
1325 Greendale Ave #33	0.00mi	2/1.5	984 (-2%)	17mo	$190,000	$193	80
636 Carnathan Ct	0.16mi	2/1.0	928 (-8%)	9mo	$200,000	$216	68
602 Carnathan Ct	0.08mi	2/1.0	968 (-4%)	24mo	$211,000	$218	67
1702 Brighton Cv Unit B	0.21mi	2/2.0	908 (-10%)	13mo	$199,000	$219	63
1503 Greenacres Blvd Unit E	0.28mi	2/2.0	948 (-6%)	19mo	$233,000	$246	62
634 Carnathan Ct	0.14mi	2/1.0	928 (-8%)	19mo	$185,000	$199	60
593 Emerald Ln	0.56mi	2/1.5	1,048 (+4%)	7mo	$204,000	$195	59
640 Carnathan Ct	0.16mi	2/1.0	928 (-8%)	23mo	$200,000	$216	57

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.71×
• Total profit: $-12,341
• Equity at exit: $22,351

10-year hold

• IRR: -3.4%
• Equity multiple: 0.81×
• Total profit: $-8,174
• 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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 231
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$786
• Tax from tax record: −$123 /mo · $1,474/yr
• Insurance: −$62
• HOA: −$121
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $266

Break-even live

Break-even rent $1,383

Max offer price $149,900

Occupancy floor 80%

Sensitivity live

Price	-10% $351	-5% $308	+0% $266	+5% $223	+10% $181
Rent	-10% $130	-5% $198	+0% $266	+5% $334	+10% $402
Rate	-1.0pp $341	-0.5pp $304	base $266	+0.5pp $227	+1.0pp $187

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Greendale Ave Fort Walton Beach, FL	2.0	2.0	900	$1,400	$1.56	22d	1	0.07mi
632 Carnathan Ct Fort Walton Beach, FL	2.0	1.0	800	$1,695	$2.12	15d	1	0.14mi
1128 Sweetbriar Station Fort Walton Beach, FL	3.0	2.0	1150	$1,850	$1.61	22d	1	0.16mi
713 N Park Blvd Fort Walton Beach, FL	3.0	2.5	1363	$1,950	$1.43	45d	1	0.18mi
537 Schneider Dr Unit A Fort Walton Beach, FL	2.0	1.5	1250	$1,650	$1.32	22d	1	0.20mi
512 Landview St Fort Walton Beach, FL	2.0	1.0	812	$1,250	$1.54	45d	1	0.23mi
507 Landview St Fort Walton Beach, FL	2.0	1.5	900	$1,300	$1.44	22d	1	0.23mi
702 Terrance Ct Unit A Fort Walton Beach, FL	2.0	2.0	1009	$1,700	$1.68	15d	1	0.26mi
1705 Conservation Trl Unit 104 Fort Walton Beach, FL	2.0	2.0	1190	$1,900	$1.60	22d	1	0.33mi
1917 Heartland Dr Fort Walton Beach, FL	3.0	2.0	1190	$2,200	$1.85	22d	1	0.36mi
1839 Sod Dr Fort Walton Beach, FL	3.0	2.0	1425	$1,925	$1.35	22d	1	0.41mi
1867 Heartland Dr Fort Walton Beach, FL	3.0	2.0	1300	$2,095	$1.61	22d	1	0.45mi
1825 Hunters Path Fort Walton Beach, FL	2.0	2.0	1192	$1,825	$1.53	45d	1	0.46mi
1916 Squirrel Path Fort Walton Beach, FL	2.0	2.0	1056	$1,795	$1.70	45d	1	0.47mi
1112 Green Tree Ct Fort Walton Beach, FL	3.0	2.0	1181	$1,900	$1.61	45d	1	0.49mi
1008 Pineview Blvd Unit D Fort Walton Beach, FL	2.0	2.0	1200	$1,650	$1.38	22d	1	0.49mi
913 Landry St #5 Fort Walton Beach, FL	2.0	1.0	884	$1,200	$1.36	22d	1	0.55mi
2113 Wilderness Path Fort Walton Beach, FL	3.0	2.0	1253	$2,095	$1.67	15d	1	0.60mi
2113 Wilderness Path Fort Walton Beach, FL	3.0	2.0	1253	$2,095	$1.67	45d	1	0.60mi
216 Cloverdale Blvd Unit C Fort Walton Beach, FL	2.0	1.5	1224	$1,700	$1.39	45d	1	0.61mi
2132 Wilderness Path Fort Walton Beach, FL	3.0	2.0	1250	$1,675	$1.34	45d	1	0.61mi
984 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,650	$1.32	15d	1	0.68mi
976 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,675	$1.34	45d	1	0.70mi
977 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,650	$1.32	45d	1	0.70mi
2720 Willow Grove Ln Fort Walton Beach, FL	3.0	2.0	1075	$1,800	$1.67	45d	1	0.71mi
905 Piedmont Pl Fort Walton Beach, FL	3.0	2.0	1303	$1,695	$1.30	45d	1	0.74mi
954 Scenic Oak Ln Fort Walton Beach, FL	2.0	2.5	1248	$1,700	$1.36	22d	1	0.75mi
2817 Old Carriage Ln Fort Walton Beach, FL	2.0	1.0	921	$1,950	$2.12	45d	1	0.75mi
1500 Lewis Turner Blvd Fort Walton Beach, FL	1.0	1.0	718	$1,695	$2.36	45d	1	0.79mi
2800 Bradford Pl NW Fort Walton Beach, FL	2.0	2.0	850	$1,395	$1.64	15d	5	0.81mi
2809 Bradford Pl NW Unit 4 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	45d	1	0.87mi
2809 Bradford Pl NW Unit 3 Fort Walton Beach, FL	2.0	2.0	928	$1,300	$1.40	15d	1	0.87mi
2812 Bradford Pl NW Unit 4 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	22d	1	0.89mi
2813 Bradford Pl NW Unit 2 Fort Walton Beach, FL	2.0	2.0	928	$1,300	$1.40	15d	1	0.90mi
2814 Bradford Pl NW Unit 3 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	22d	1	0.90mi
964 Southern Oaks Ct Fort Walton Beach, FL	3.0	2.0	1315	$2,000	$1.52	45d	1	0.90mi
915 Emily Cir Fort Walton Beach, FL	3.0	2.0	1358	$2,195	$1.62	15d	1	0.96mi
1504 E Ponderosa Rd Fort Walton Beach, FL	3.0	2.0	1000	$1,650	$1.65	22d	1	1.00mi
940 Central Ave #16 Fort Walton Beach, FL	3.0	2.0	1320	$1,800	$1.36	15d	1	1.09mi
806 Fairview Dr Fort Walton Beach, FL	2.0	1.0	901	$1,350	$1.50	45d	1	1.11mi

HOA detail

• Monthly dues: $121 · $1,452/yr
• Likely covers: pool

Listing history 13 events

1. 2026-06-21
   days on market $149,900 Active 17 DOM
2. 2026-06-18
   days on market $149,900 Active 14 DOM
3. 2026-06-17
   days on market $149,900 Active 13 DOM
4. 2026-06-16
   days on market $149,900 Active 12 DOM
5. 2026-06-15
   days on market $149,900 Active 11 DOM
6. 2026-06-14
   days on market $149,900 Active 9 DOM
7. 2026-06-13
   days on market $149,900 Active 8 DOM
8. 2026-06-10
   days on market $149,900 Active 6 DOM
9. 2026-06-09
   days on market $149,900 Active 5 DOM
10. 2026-06-08
    days on market $149,900 Active 4 DOM
11. 2026-06-07
    days on market $149,900 Active 3 DOM
12. 2026-06-05
    remarks 359-char remark
13. 2026-06-05
    listed $149,900 Active 1 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: $1,474 · $123/mo
• Projected year-2 tax: $1,474 · $123/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,630
• − Mortgage interest: −$8,397
• − Property taxes: −$1,474
• − Insurance: −$750
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − HOA: −$1,452
• − Depreciation: −$4,361
• Taxable income: $896
• Est. tax owed @ 24.0%: −$215
• After-tax cash flow: $2,974/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 — Wright

• Score: 80/100
• State rank: #117
• US rank: #1790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wright, FL
• County: Okaloosa County · 194,352 people
• City population: 35,522
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

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 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 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: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

+173.0% since first listed

14 events — show timeline

• 2026-06-04 Listed $149,900 ECAR
• 2025-07-23 Listed $175,000 ECAR
• 2023-07-12 Price Changed $189,900 ECAR
• 2023-01-06 Listed $199,900 ECAR
• 2012-03-23 Sold (MLS) $35,000 ECAR
• 2012-03-23 Sold (MLS) $35,000 NAMLS
• 2012-01-23 Listed $49,900 NAMLS
• 2004-03-26 Sold (MLS) $50,000 ECAR
• 2004-03-26 Sold (MLS) $50,000 NAMLS
• 2003-10-23 Listed $50,000 ECAR
• 2003-10-23 Listed $50,000 NAMLS
• 2001-10-30 Listing Removed — NAMLS
• 2001-05-07 Listed $54,900 NAMLS
• 2001-05-07 Listed $54,900 ECAR

Property tax history

+9.0%/yr

Latest (2025): $1,474 · +3.8% YoY. Source: county tax records.