2265 Lewis St · Crestview, FL 32536

$249,900

4 bd · 3.0 ba · 2,339 sqft · SingleFamily public records · 13 Days on market

Built 2009 0.26 ac lot Est $360k · 31% under $9/mo HOA

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• Schools +5.2/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

(Back on the market at no fault to the seller. The previous transaction was canceled after the inspection period, which reflected a recommendation for a future roof replacement along with minor cosmetic items. No major concerns were identified. Professional photos coming first week of May. ) Discover this charming brick ranch-style home in a sought-after Crestview neighborhood! This spacious residence offers 4 bedrooms, 3 bathrooms, and two flexible bonus areas, perfect for families, home offices, or creative spaces. Step inside to an open-concept layout that flows seamlessly from room to room. The front area is versatile and can serve as a formal dining room, home office, or sitting space,

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 2009

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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 $243k (2.9% below list).
• Recommended offer: $243k (2.9% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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: Northwood Elementary School (math 63% / reading 56%, grade B-, #690 of 2,144 statewide, top 34%, 828 students, 63% FRL); Crestview High School (math 49% / reading 54%, grade D+, #167 of 667 statewide, top 25%, 2,315 students, 42% FRL) — zoned schools average 53% FRL vs 36% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.2%/yr); 349 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 37% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 16 sale attempts since 17y 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.

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 $242,567 (2.9% 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 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. 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: 0.97% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $360,206
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5452 Lee Farm Blvd	0.18mi	4/3.0	2,335 (-0%)	3mo	$401,000	$172	89
5275 Moore Loop	0.25mi	4/3.0	2,266 (-3%)	7mo	$330,000	$146	77
5211 Moore Loop	0.30mi	4/2.0	2,251 (-4%)	3mo	$214,000	$95	74
260 Paradise Palm Cir	0.38mi	4/2.0	2,356 (+1%)	6mo	$364,000	$154	72
5455 Lee Farm Blvd	0.18mi	4/2.0	2,120 (-9%)	0mo	$330,000	$156	72
5281 Moore Loop	0.29mi	4/2.0	2,104 (-10%)	1mo	$292,000	$139	65
2111 Hagood Loop	0.42mi	4/2.0	2,110 (-10%)	5mo	$326,000	$155	56
2108 Hagood Loop	0.45mi	4/2.0	2,562 (+10%)	6mo	$330,000	$129	54
5505 Kiowa Pass	0.58mi	4/2.5	2,529 (+8%)	6mo	$420,000	$166	53
209 Warrior St	0.46mi	4/2.0	2,075 (-11%)	5mo	$270,000	$130	52
127 Mohawk Trl	0.35mi	3/2.0 (-1)	2,047 (-12%)	5mo	$310,500	$152	50
231 Seneca Trl	0.36mi	3/2.0 (-1)	2,024 (-14%)	4mo	$340,000	$168	48

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-29,043
• Equity at exit: $37,261

10-year hold

• IRR: -5.3%
• Equity multiple: 0.68×
• Total profit: $-22,245
• Equity at exit: $21,607

Cash invested: $69,972 (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 32536

• Home prices YoY: -16.2%
• Rents YoY: 1.2%
• Active inventory: 349
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,426 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$244 /mo · $2,928/yr
• Insurance: −$104
• HOA: −$9
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $249

Break-even live

Break-even rent $2,111

Max offer price $249,900

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 Windmill Way Crestview, FL	4.0	2.5	2322	$2,200	$0.95	20d	1	0.33mi
2155 Hagood Loop Crestview, FL	4.0	2.0	2560	$2,300	$0.90	43d	1	0.43mi

HOA detail

• Monthly dues: $9 · $108/yr

Listing history 32 events

1. 2026-04-24
   status Pending
2. 2026-04-15
   status Active
3. 2026-04-03
   status Pending
4. 2026-03-30
   listed $249,900 Active
5. 2026-03-25
   historical
6. 2026-03-20
   status Active
7. 2026-03-05
   status Active
8. 2026-02-28
   historical
9. 2026-01-12
   status Active
10. 2026-01-12
    status Active
11. 2025-10-31
    historical Active Under Contract
12. 2025-10-31
    status Pending
13. 2025-10-22
    listed $275,000 Active
14. 2025-09-26
    price $275,000
15. 2025-08-27
    listed $300,000 Active
16. 2021-06-15
    soldstatus $305,000
17. 2021-06-07
    soldstatus $305,000
18. 2021-06-07
    soldstatus $305,000 Sold
19. 2021-05-06
    status Pending
20. 2021-04-29
    listed $305,000 Active
21. 2021-04-29
    listed $305,000
22. 2018-07-26
    historical
23. 2018-04-20
    listed $223,000
24. 2018-04-20
    listed $223,000
25. 2017-02-08
    historical
26. 2016-06-24
    listed $205,000
27. 2016-06-24
    listed $205,000
28. 2009-04-15
    soldstatus $214,000
29. 2009-04-15
    soldstatus $214,000
30. 2009-02-09
    listed $217,900
31. 2009-02-09
    listed $217,900
32. 2008-09-19
    soldstatus $36,000

ⓘ 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: $2,928 · $244/mo
• Projected year-2 tax: $2,928 · $244/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 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $29,108
• − Mortgage interest: −$13,998
• − Property taxes: −$2,928
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − HOA: −$108
• − Depreciation: −$7,270
• Taxable loss: −$1,103
• Est. tax savings @ 24.0%: +$265
• After-tax cash flow: $3,249/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

+594.2% since first listed

32 events — show timeline

• 2026-04-24 Pending — ECAR
• 2026-04-15 Relisted — ECAR
• 2026-04-03 Pending — ECAR
• 2026-03-30 Listed $249,900 ECAR
• 2026-03-25 Listing Removed — CPARMLS
• 2026-03-20 Relisted — ECAR
• 2026-03-05 Relisted — CPARMLS
• 2026-02-28 Listing Removed — CPARMLS
• 2026-01-12 Relisted — ECAR
• 2026-01-12 Relisted — CPARMLS
• 2025-10-31 Contingent — CPARMLS
• 2025-10-31 Pending — ECAR
• 2025-10-22 Listed $275,000 ECAR
• 2025-09-26 Price Changed $275,000 CPARMLS
• 2025-08-27 Listed $300,000 CPARMLS
• 2021-06-15 Sold (Public Records) $305,000 Public Records
• 2021-06-07 Sold (MLS) $305,000 ECAR
• 2021-06-07 Sold (MLS) $305,000 NAMLS
• 2021-05-06 Pending — ECAR
• 2021-04-29 Listed $305,000 ECAR
• 2021-04-29 Listed $305,000 NAMLS
• 2018-07-26 Listing Removed — NAMLS
• 2018-04-20 Listed $223,000 NAMLS
• 2018-04-20 Listed $223,000 ECAR
• 2017-02-08 Listing Removed — NAMLS
• 2016-06-24 Listed $205,000 NAMLS
• 2016-06-24 Listed $205,000 ECAR
• 2009-04-15 Sold (MLS) $214,000 NAMLS
• 2009-04-15 Sold (MLS) $214,000 ECAR
• 2009-02-09 Listed $217,900 NAMLS
• 2009-02-09 Listed $217,900 ECAR
• 2008-09-19 Sold (Public Records) $36,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,928 · -5.4% YoY. Source: county tax records.