713 Bob Sikes Blvd · Wright, FL 32547

$295,000

4 bd · 2.0 ba · 1,816 sqft · SingleFamily public records · 19 Days on market

Built 1958 0.26 ac lot Est $389k · 24% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Huge Lot and great potential with this 4 bedroom home! Kitchen overlooks the extremely large family room that features a wood burning fireplace. Lots of great space in this home. New water heater installed . Washer and dry can convey if noted. This home is being sold in it's current condition with no repairs. This would make an amazing investment property. Survey available.

Key facts

• Remodeled
• Large lot
• Open layout

Tags

• REMODELED
• MODERN FINISHES
• OPEN LAYOUT
• LARGE LOT
• OUTDOOR SPACE
• HIGHLY DESIRABLE LOCATION

Property features AI

Finance

• HOA & community: Subdivision: RACE TRACK ROAD S/D LOT 5 BLK G

Exterior

• Parking: Driveway with space for 4 vehicles
• Utilities: Public water; Public sewer; Central electric AC (energy feature)
• Home design: Traditional single-story home; Built in 1958
• Construction: Approximately 1,816 building area; Year built: 1958
• Exterior features: Florida room; Lot dimensions approximately 75 x 155; Lot zoned for single-family residence

Interior

• Bedrooms: 4 bedrooms (all on the first floor)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric air conditioning
• Interior features: Fireplace; Washer/Dryer hookup; Central air conditioning
• Laundry & utility: Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-14 ($-169/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (18.9% below list).
• Recommended offer: $239k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Wright Elementary School (math 48% / reading 49%, grade D, #1,152 of 2,144 statewide, top 55%, 635 students, 73% 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 62% FRL vs 36% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 47% at this address vs 60% district-wide (-13 pts) — the specific schools serving this property underperform the Okaloosa average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.1%/yr); 224 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $2k of loan paydown is wiped out by about $9k 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 19 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $225k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,151 (18.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.81% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $388,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 Cheshire Ave	0.50mi	4/2.5	1,817 (+0%)	5mo	$370,000	$204	70
6 NW Chelsea Dr	0.32mi	3/3.0 (-1)	1,700 (-6%)	1mo	$310,000	$182	64
5 NW Cinderella Ct	0.72mi	4/2.0	1,838 (+1%)	1mo	$405,000	$220	63
16 NW Chelsea Dr	0.32mi	4/3.0	1,600 (-12%)	7mo	$351,500	$220	55
125 Newcastle Cir	0.42mi	3/2.0 (-1)	1,599 (-12%)	2mo	$315,000	$197	54
604 NE Powell Dr	0.72mi	4/2.0	1,889 (+4%)	7mo	$404,500	$214	54
357 Lisette Ct	0.68mi	4/2.0	1,664 (-8%)	2mo	$340,000	$204	53
2196 Topaz Ct	0.58mi	3/2.0 (-1)	1,625 (-10%)	0mo	$375,000	$231	50
805 Dawes Rd	0.71mi	3/2.0 (-1)	1,950 (+7%)	5mo	$382,000	$196	45
606 NE Powell Dr	0.73mi	3/2.0 (-1)	1,663 (-8%)	3mo	$500,000	$301	44
2197 Opal Ct	0.64mi	3/2.0 (-1)	1,571 (-14%)	2mo	$363,000	$231	41
353 Lisette Ct	0.71mi	3/2.0 (-1)	1,586 (-13%)	5mo	$339,900	$214	36

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: -19.9%
• Equity multiple: 0.32×
• Total profit: $-55,757
• Equity at exit: $43,985

10-year hold

• IRR: -20.3%
• Equity multiple: 0.07×
• Total profit: $-76,987
• Equity at exit: $25,506

Cash invested: $82,600 (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: 224
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,392 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$233 /mo · $2,802/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-14

Break-even live

Break-even rent $2,409

Max offer price $292,506

Occupancy floor 96%

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Woodrow St NE Fort Walton Beach, FL	1.0–3.0	1.0–2.0	1017	$1,850	$1.82	13d	6	0.26mi
106 Valencia Dr Fort Walton Beach, FL	3.0	1.5	1320	$1,450	$1.10	20d	1	0.32mi
16 Chelsea Dr NW Fort Walton Beach, FL	4.0	3.0	2089	$2,895	$1.39	20d	1	0.33mi
200 Spencer Dr Fort Walton Beach, FL	5.0	2.0	1624	$2,600	$1.60	43d	1	0.35mi
509 Trenton St Fort Walton Beach, FL	4.0	1.5	1296	$2,000	$1.54	20d	1	0.59mi
400 Rhonda Kay Ct #66 Fort Walton Beach, FL	3.0	1.5	1256	$1,650	$1.31	43d	1	0.71mi
608 Manor Ct NW Fort Walton Beach, FL	4.0	2.5	2485	$2,900	$1.17	43d	1	0.74mi
203 Priscilla Dr Fort Walton Beach, FL	5.0	3.5	2386	$2,495	$1.05	43d	1	0.77mi
16 Woodham Ave Fort Walton Beach, FL	4.0	3.0	1600	$2,000	$1.25	43d	1	0.81mi
121 Tooke St Fort Walton Beach, FL	3.0	2.5	1510	$2,000	$1.32	43d	1	0.85mi
618 Country Club Ave NE Fort Walton Beach, FL	4.0	2.0	2120	$4,200	$1.98	13d	1	0.87mi
100 Scranton St Fort Walton Beach, FL	3.0	2.5	1437	$1,850	$1.29	43d	1	0.92mi
122 Beach Dr Fort Walton Beach, FL	3.0	2.0	2235	$2,400	$1.07	20d	1	0.96mi
940 Central Ave #16 Fort Walton Beach, FL	3.0	2.0	1320	$1,800	$1.36	13d	1	1.02mi
829 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,995	$1.33	43d	1	1.04mi
831 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,895	$1.26	43d	1	1.04mi
833 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,895	$1.26	43d	1	1.05mi
713 Trowbridge Ave Fort Walton Beach, FL	3.0	2.0	1550	$2,350	$1.52	13d	1	1.08mi
204 Devon Ct Fort Walton Beach, FL	3.0	2.0	1599	$2,000	$1.25	44d	1	1.21mi
810 Eglin Pkwy Fort Walton Beach, FL	3.0	3.5	1905	$2,995	$1.57	43d	1	1.28mi
2100 Pomegranate Ct Fort Walton Beach, FL	3.0	2.5	1743	$2,025	$1.16	20d	1	1.40mi

Listing history 15 events

1. 2026-06-18
   days on market $295,000 Active 19 DOM
2. 2026-06-17
   days on market $295,000 Active 18 DOM
3. 2026-06-16
   days on market $295,000 Active 17 DOM
4. 2026-06-15
   days on market $295,000 Active 16 DOM
5. 2026-06-14
   days on market $295,000 Active 14 DOM
6. 2026-06-13
   days on market $295,000 Active 13 DOM
7. 2026-06-10
   days on market $295,000 Active 11 DOM
8. 2026-06-09
   days on market $295,000 Active 10 DOM
9. 2026-06-08
   days on market $295,000 Active 9 DOM
10. 2026-06-07
    days on market $295,000 Active 8 DOM
11. 2026-06-05
    days on market $295,000 Active 5 DOM
12. 2026-06-02
    days on market $295,000 Active 3 DOM
13. 2026-06-01
    days on market $295,000 Active 2 DOM
14. 2026-05-31
    remarks 676-char remark
15. 2026-05-31
    listed $295,000 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: $2,802 · $233/mo
• Projected year-2 tax: $2,802 · $233/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 22 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: $28,698
• − Mortgage interest: −$16,525
• − Property taxes: −$2,802
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,296
• − Management: −$2,296
• − Depreciation: −$8,582
• Taxable loss: −$5,277
• Est. tax savings @ 24.0%: +$1,266
• After-tax cash flow: $1,097/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

+1570.4% since first listed

14 events — show timeline

• 2026-05-30 Listed $295,000 ECAR
• 2021-12-06 Sold (Public Records) $225,000 Public Records
• 2021-11-19 Sold (MLS) $225,000 ECAR
• 2021-11-19 Sold (MLS) $225,000 NAMLS
• 2021-10-13 Pending — ECAR
• 2021-10-06 Price Changed $250,000 ECAR
• 2021-09-13 Price Changed $260,000 ECAR
• 2021-09-07 Listed $265,000 ECAR
• 2021-09-07 Listed $250,000 NAMLS
• 2017-04-25 Sold (Public Records) $149,000 Public Records
• 2016-08-15 Listing Removed — NAMLS
• 2016-02-15 Listed $149,000 NAMLS
• 1990-08-01 Sold (Public Records) $64,200 Public Records
• 1977-01-01 Sold (Public Records) $17,660 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,802 · +1.2% YoY. Source: county tax records.