255 Edge Ave · Valparaiso, FL 32580

$588,000

5 bd · 3.0 ba · 3,235 sqft · SingleFamily public records · 92 Days on market

Built 1950 9,583 sqft lot $182/sqft · 31% below area Est $858k · 31% 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
• Appreciation +6.5/10.0
• Cash flow +6.2/30.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.5/10.0

Listing remarks MLS

Nestled in the heart of Valparaiso, this 6 bedroom 3 bath gem has been thoughtfully upgraded to provide modern convenience. As you pull up, you'll love the oversized circular driveway, offering plenty of parking space. Step inside to find a chef's dream kitchen! Featuring quartz countertops, custom shaker cabinets, and stainless steel appliances. The gas stovetop and double oven make preparing meals a breeze, while the massive center island provides ample prep space and extra storage. This home boasts an open and airy layout with a seamless flow between the kitchen, dining, and living spaces. The main living area features tile flooring, neutral tones, and large windows that flood the space with natural light.

Key facts

• Quartz countertops
• Chef's dream kitchen
• Gas stovetop

Tags

• CIRCULAR DRIVEWAY
• CHEF'S DREAM KITCHEN
• QUARTZ COUNTERTOPS
• CUSTOM SHAKER CABINETS
• STAINLESS STEEL APPLIANCES
• GAS STOVETOP

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $588k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $398k (32.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $347k (40.9% below list).
• Recommended offer: $347k (40.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#278 in FL, #4,319 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A+; Watch: health & safety C-, 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.
• Market conditions: 45 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($4k loan paydown + $17k appreciation (3.0% local appreciation)).
• Okaloosa County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($535k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y 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 $380k; list at $588k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $347,427 (40.9% 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. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.59% ✗
• Cap rate: 4.10%
• Cash-on-cash: -7.84%
• DSCR: 0.65
• GRM: 14.1

CMA / ARV

• ARV (median comp): $858,203
• List price: $588,000
• Delta: -31.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Edge Ave	0.15mi	6/3.0 (+1)	3,106 (-4%)	13mo	$875,000	$282	71
233 Edge Ave	0.14mi	6/3.0 (+1)	3,106 (-4%)	15mo	$875,000	$282	70
309 Bayshore Dr	0.55mi	4/3.5 (-1)	3,276 (+1%)	13mo	$1,500,000	$458	54
329 Bayshore Dr	0.51mi	4/3.5 (-1)	3,274 (+1%)	23mo	$1,200,000	$367	48
304 Boggy Bayou Ct	0.51mi	5/3.5	3,706 (+15%)	3mo	$1,700,000	$459	47
417 Hideaway Ln	0.71mi	5/3.0	2,770 (-14%)	3mo	$625,000	$226	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $587
• Equity at exit: $262,665

10-year hold

• IRR: 4.0%
• Equity multiple: 1.61×
• Total profit: $100,104
• Equity at exit: $403,461

Cash invested: $164,640 (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 32580

• Home prices YoY: 1.1%
• Active inventory: 45
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,474 medium
• Mortgage (P&I): −$3,084
• Tax from tax record: −$492 /mo · $5,905/yr
• Insurance: −$245
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $-1,076

Break-even live

Break-even rent $4,836

Max offer price $397,929

Occupancy floor —

Sensitivity live

Price	-10% $-743	-5% $-910	+0% $-1,076	+5% $-1,242	+10% $-1,409
Rent	-10% $-1,350	-5% $-1,213	+0% $-1,076	+5% $-939	+10% $-801
Rate	-1.0pp $-780	-0.5pp $-926	base $-1,076	+0.5pp $-1,228	+1.0pp $-1,383

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: $147,000
• Closing costs: $17,640
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
166 Raiders Trl Lot 28 Valparaiso, FL	4.0	3.0	2517	$3,450	$1.37	15d	1	1.18mi
160 Raiders Trl Valparaiso, FL	4.0	3.0	2525	$3,500	$1.39	45d	1	1.25mi

Listing history 38 events

1. 2026-06-21
   days on market $588,000 Active 92 DOM
2. 2026-06-18
   days on market $588,000 Active 89 DOM
3. 2026-06-17
   days on market $588,000 Active 88 DOM
4. 2026-06-16
   days on market $588,000 Active 87 DOM
5. 2026-06-15
   days on market $588,000 Active 86 DOM
6. 2026-06-14
   days on market $588,000 Active 84 DOM
7. 2026-06-13
   days on market $588,000 Active 83 DOM
8. 2026-06-10
   days on market $588,000 Active 81 DOM
9. 2026-06-09
   days on market $588,000 Active 80 DOM
10. 2026-06-08
    days on market $588,000 Active 79 DOM
11. 2026-06-07
    days on market $588,000 Active 78 DOM
12. 2026-06-05
    days on market $588,000 Active 75 DOM
13. 2026-06-03
    price $588,000 Active 73 DOM
14. 2026-06-02
    days on market $590,000 Active 73 DOM
15. 2026-06-01
    days on market $590,000 Active 72 DOM
16. 2026-05-31
    days on market $590,000 Active 71 DOM
17. 2026-05-30
    days on market $590,000 Active 70 DOM
18. 2026-04-28
    price $590,000 718-char remark

    Show marketing remark (718 chars)

    Nestled in the heart of Valparaiso, this 6 bedroom 3 bath gem has been thoughtfully upgraded to provide modern convenience. As you pull up, you'll love the oversized circular driveway, offering plenty of parking space. Step inside to find a chef's dream kitchen! Featuring quartz countertops, custom shaker cabinets, and stainless steel appliances. The gas stovetop and double oven make preparing meals a breeze, while the massive center island provides ample prep space and extra storage. This home boasts an open and airy layout with a seamless flow between the kitchen, dining, and living spaces. The main living area features tile flooring, neutral tones, and large windows that flood the space with natural light.

19. 2026-03-21
    listed $600,000 Active 718-char remark

    Show marketing remark (718 chars)

    Nestled in the heart of Valparaiso, this 6 bedroom 3 bath gem has been thoughtfully upgraded to provide modern convenience. As you pull up, you'll love the oversized circular driveway, offering plenty of parking space. Step inside to find a chef's dream kitchen! Featuring quartz countertops, custom shaker cabinets, and stainless steel appliances. The gas stovetop and double oven make preparing meals a breeze, while the massive center island provides ample prep space and extra storage. This home boasts an open and airy layout with a seamless flow between the kitchen, dining, and living spaces. The main living area features tile flooring, neutral tones, and large windows that flood the space with natural light.

20. 2025-02-27
    listed $600,000 Active
21. 2022-01-20
    soldstatus $380,000
22. 2022-01-07
    soldstatus $250,000
23. 2015-03-18
    soldstatus $95,000
24. 2015-03-13
    soldstatus $95,000
25. 2015-03-13
    soldstatus $95,000
26. 2014-09-03
    listed $109,850
27. 2014-09-03
    historical
28. 2014-02-26
    listed $128,050
29. 2014-02-26
    listed $128,050
30. 2013-10-12
    historical
31. 2011-04-11
    listed $224,000
32. 2011-04-11
    listed $224,000
33. 2009-10-10
    historical
34. 2009-03-28
    listed $284,900
35. 2009-03-21
    historical
36. 2008-12-17
    listed $340,000
37. 2008-12-17
    listed $340,000
38. 1992-10-01
    soldstatus $44,500

ⓘ 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: $5,905 · $492/mo
• Projected year-2 tax: $5,905 · $492/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,691
• − Mortgage interest: −$32,937
• − Property taxes: −$5,905
• − Insurance: −$2,940
• − Repairs & maintenance: −$3,335
• − Management: −$3,335
• − Depreciation: −$17,105
• Taxable loss: −$23,867
• Est. tax savings @ 24.0%: +$5,728
• After-tax cash flow: $-7,183/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 — Valparaiso

• Score: 74/100
• State rank: #278
• US rank: #4319

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valparaiso, FL
• City population: 4,117
• Population (ZIP): 4,117

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 11% Hispanic / Latino 8% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 5% Italian 4% Slovak 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 98% English-only · Korean 1% Spanish 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: ▲ 2.95%
• Current HPI: 266.6313
• Rent YoY: —
• Metro: —
• 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

+1225.8% since first listed

21 events — show timeline

• 2026-04-28 Price Changed $590,000 ECAR
• 2026-03-21 Listed $600,000 ECAR
• 2025-02-27 Listed $600,000 ECAR
• 2022-01-20 Sold (Public Records) $380,000 Public Records
• 2022-01-07 Sold (Public Records) $250,000 Public Records
• 2015-03-18 Sold (Public Records) $95,000 Public Records
• 2015-03-13 Sold (MLS) $95,000 ECAR
• 2015-03-13 Sold (MLS) $95,000 NAMLS
• 2014-09-03 Listing Removed — NAMLS
• 2014-09-03 Listed $109,850 NAMLS
• 2014-02-26 Listed $128,050 NAMLS
• 2014-02-26 Listed $128,050 ECAR
• 2013-10-12 Listing Removed — NAMLS
• 2011-04-11 Listed $224,000 NAMLS
• 2011-04-11 Listed $224,000 ECAR
• 2009-10-10 Listing Removed — NAMLS
• 2009-03-28 Listed $284,900 NAMLS
• 2009-03-21 Listing Removed — NAMLS
• 2008-12-17 Listed $340,000 NAMLS
• 2008-12-17 Listed $340,000 ECAR
• 1992-10-01 Sold (Public Records) $44,500 Public Records

Property tax history

+4.9%/yr

Latest (2025): $5,905 · +1.6% YoY. Source: county tax records.