2317 Lewis St · Crestview, FL 32536

$222,000

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 41 Days on market

Built 1979 0.32 ac lot $216/sqft · at area comps Est $253k · 12% 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).

• Cash flow +14.4/30.0
• ARV discount +13.0/15.0
• Schools +5.2/10.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pre-sold . New photos after completion.

Key facts

• Custom cabinetry
• Fully renovated
• Granite countertops

Tags

• FULLY RENOVATED
• MAJOR SYSTEM UPGRADES
• CUSTOM CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• THOUGHTFULLY DESIGNED LAYOUT

Property features AI

Exterior

• Parking: Garage
• Utilities: Public water; Septic tank; Electric service (central AC)
• Home design: Rustic-style single-family home; One story; Built in 1979
• Construction: Built in 1979
• Exterior features: Lot approximately 0.32 acres (80 x 140); Subdivision: LEON HEIGHTS; No pool

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms on the first floor (each approximately 13' x 13')
• Bathrooms: One full bathroom
• Heating & cooling: Central electric air conditioning
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $222k.

Deal economics

• At list price, monthly cash flow is $44 ($529/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 $176k (20.7% below list).
• Recommended offer: $176k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: 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; 8 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 $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

• It's been on market 41 days — a 3% lower offer ($215k) is reasonable based on typical stale-listing flexibility.

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 $176,154 (20.7% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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 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?
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: 0.79% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 10.5

CMA / ARV

• ARV (median comp): $252,913
• List price: $222,000
• Delta: -12.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-36,437
• Equity at exit: $33,101

10-year hold

• IRR: -12.0%
• Equity multiple: 0.34×
• Total profit: $-41,069
• Equity at exit: $19,195

Cash invested: $62,160 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,762 high
• Mortgage (P&I): −$1,164
• Tax from tax record: −$91 /mo · $1,090/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $44

Break-even live

Break-even rent $1,706

Max offer price $222,000

Occupancy floor 92%

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Spring Creek Blvd Crestview, FL	1.0–3.0	1.0–2.0	1009	$1,900	$1.88	13d	28	0.81mi
257 Lindberg St Crestview, FL	2.0	1.0	832	$1,100	$1.32	43d	1	1.02mi
131 Adkinson Dr Crestview, FL	4.0	1.0	1332	$1,750	$1.31	13d	1	1.16mi
132 Cabana Way Crestview, FL	3.0	2.0	1408	$1,750	$1.24	13d	1	1.37mi
830 Arbor Lake Dr Crestview, FL	2.0	2.5	1200	$1,400	$1.17	13d	1	1.40mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,400	$1.27	43d	1	1.41mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,375	$1.25	21d	1	1.41mi
156 Cabana Way Crestview, FL	4.0	2.0	1244	$1,800	$1.45	43d	1	1.46mi

Listing history 20 events

1. 2026-06-18
   days on market $222,000 Active 41 DOM
2. 2026-06-17
   days on market $222,000 Active 40 DOM
3. 2026-06-16
   days on market $222,000 Active 39 DOM
4. 2026-06-15
   days on market $222,000 Active 38 DOM
5. 2026-06-14
   days on market $222,000 Active 36 DOM
6. 2026-06-13
   days on market $222,000 Active 35 DOM
7. 2026-06-10
   days on market $222,000 Active 33 DOM
8. 2026-06-09
   days on market $222,000 Active 32 DOM
9. 2026-06-08
   days on market $222,000 Active 31 DOM
10. 2026-06-07
    pricedays on market $222,000 Active 30 DOM
11. 2026-06-05
    days on market $227,000 Active 27 DOM
12. 2026-06-02
    days on market $227,000 Active 25 DOM
13. 2026-06-01
    days on market $227,000 Active 24 DOM
14. 2026-05-31
    days on market $227,000 Active 23 DOM
15. 2026-05-30
    days on market $227,000 Active 22 DOM
16. 2026-05-14
    price $229,000 665-char remark
17. 2026-05-08
    listed $238,000 Active 665-char remark
18. 2023-07-31
    soldstatus $208,000
19. 2023-07-25
    soldstatus $208,000 Sold 39-char remark

    Show marketing remark (39 chars)

    Pre-sold . New photos after completion.

20. 1980-03-01
    soldstatus $25,800

ⓘ 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: $1,090 · $91/mo
• Projected year-2 tax: $1,843 · $154/mo
• Expected delta: +$753/yr (+$63/mo · 69.1%)

ⓘ 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: $21,138
• − Mortgage interest: −$12,435
• − Property taxes: −$1,090
• − Insurance: −$1,110
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$6,458
• Taxable loss: −$3,337
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $1,330/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

+760.5% since first listed

7 events — show timeline

• 2026-06-06 Price Changed $222,000 ECAR
• 2026-05-25 Price Changed $227,000 ECAR
• 2026-05-14 Price Changed $229,000 ECAR
• 2026-05-08 Listed $238,000 ECAR
• 2023-07-31 Sold (Public Records) $208,000 Public Records
• 2023-07-25 Sold (MLS) $208,000 ECAR
• 1980-03-01 Sold (Public Records) $25,800 Public Records

Property tax history

+10.1%/yr

Latest (2025): $1,090 · -1.3% YoY. Source: county tax records.