5618 Riviera Dr · East Milton, FL 32583

$267,500

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 5 Days on market

Built 2020 0.30 ac lot Est $258k · at est.

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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 +10.5/30.0
• ARV discount +5.9/15.0
• Schools +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 5618 Riviera Drive in Milton, a charming 3-bedroom, 2-bath home built in 2020 offering 1,248 sqft of comfortable living space on a spacious .30-acre lot. This home features an open layout with vinyl flooring through the hallway, kitchen, living room, and bathrooms, plus carpet in the bedrooms for added comfort. The living room includes a built-in bookcase, ceiling fan, and window blinds, creating a cozy and functional main living area. The kitchen offers stainless steel appliances, a breakfast bar, and an open dining area, making it great for everyday living and entertaining. The primary bedroom features a walk-in closet and private bathroom. Additional interior features include ceiling fans in the bedrooms and living room, washer/dryer hookups, and blinds throughout. Enjoy the outdoors from both the front and back covered patios, or take advantage of the spacious backyard designed for hobbies, pets, and relaxing evenings. The property includes a tree house, 8x12 chicken coop, fire-pit, raised garden beds with blackberries, strawberries, mint, peppermint, rosemary, and oregano, a convenient dog washing station, yard. building and garage cabinets for added storage. Located in Milton, this home also puts you close to the area’s natural outdoor lifestyle, with nearby access to local rivers, bays, fishing spots, boating, kayaking, and water recreation. Whether you enjoy casting a line, spending the day on the water, or simply relaxing outdoors, this property offers a great blend of modern comfort and laid-back Florida living. Modern home, spacious lot, outdoor extras, and close to water recreation — this one checks a lot of boxes.

Key facts

• Vinyl flooring
• Walk-in closet
• Open layout

Tags

• OPEN LAYOUT
• VINYL FLOORING
• BUILT-IN BOOKCASE
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR
• WALK-IN CLOSET

Property features AI

Finance

• Other: Lot approximately 0.3 acres (90 x 152), interior lot with survey available; Subdivision: WOODLAND LAKE HEIGHT
• Financial info: Financing available: Conventional, FHA, RHS, VA, other

Exterior

• Parking: Attached garage (1 car)
• Utilities: Electric service; Public water
• Home design: Detached single-family home; Residential property; Construction complete; Faces county road
• Construction: Built in 2020; County public records used for building area
• Exterior features: BBQ pit/grill; Yard building

Interior

• Kitchen: Dishwasher; Microwave; Self-cleaning oven; Refrigerator with ice maker; Smooth electric cooktop; Electric range/oven
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating; Has cooling
• Interior features: Single-story; Smoke detector; Auto garage door opener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (25.6% below list).
• Recommended offer: $199k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.6% in East Milton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#199 in FL, #3,139 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, commute F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Milton Elementary School (math 44% / reading 46%, grade D-, #1,271 of 2,144 statewide, top 60%, 789 students, 75% FRL); Martin Luther King Middle School (math 38% / reading 41%, grade F, #373 of 571 statewide, top 66%, 660 students, 69% FRL); Milton High School (math 44% / reading 42%, grade F, #255 of 667 statewide, top 39%, 2,085 students, 54% FRL) — zoned schools average 66% FRL vs 36% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 42% at this address vs 62% district-wide (-19 pts) — the specific schools serving this property underperform the Santa Rosa average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.5%/yr); 806 active listings in the ZIP; solid renter incomes; 1,983 units permitted in Santa Rosa County in 2024 (128 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 $8k of value loss. Plan a longer hold.
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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 $198,920 (25.6% 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. 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. 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?
5. 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.
6. 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.
7. 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: 0.74% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $258,336
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5601 Riviera Dr	0.08mi	3/2.0	1,250 (+0%)	0mo	$259,900	$208	96
5593 Riviera Dr	0.12mi	3/2.0	1,250 (+0%)	12mo	$259,900	$208	84
5493 Riviera Dr	0.40mi	3/2.0	1,265 (+1%)	6mo	$234,900	$186	74
7616 Homerun Rd	0.41mi	3/2.0	1,326 (+6%)	4mo	$274,900	$207	67
7610 Homerun Rd	0.45mi	3/2.0	1,326 (+6%)	5mo	$274,900	$207	64
5425 Bluebird St	0.55mi	3/2.0	1,222 (-2%)	10mo	$214,900	$176	62
5501 Riviera Dr	0.38mi	3/2.0	1,282 (+3%)	18mo	$244,900	$191	62

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 · 4.53% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.34×
• Total profit: $-49,082
• Equity at exit: $39,885

10-year hold

• IRR: -8.3%
• Equity multiple: 0.45×
• Total profit: $-41,120
• Equity at exit: $23,129

Cash invested: $74,900 (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 32583

• Home prices YoY: -11.3%
• Rents YoY: 4.5%
• Active inventory: 806
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$1,403
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$111
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-138

Break-even live

Break-even rent $2,164

Max offer price $243,124

Occupancy floor —

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: $66,875
• Closing costs: $8,025
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-09
   historical Contingent 1677-char remark

   Show marketing remark (1677 chars)

   Welcome to 5618 Riviera Drive in Milton, a charming 3-bedroom, 2-bath home built in 2020 offering 1,248 sqft of comfortable living space on a spacious .30-acre lot. This home features an open layout with vinyl flooring through the hallway, kitchen, living room, and bathrooms, plus carpet in the bedrooms for added comfort. The living room includes a built-in bookcase, ceiling fan, and window blinds, creating a cozy and functional main living area. The kitchen offers stainless steel appliances, a breakfast bar, and an open dining area, making it great for everyday living and entertaining. The primary bedroom features a walk-in closet and private bathroom. Additional interior features include ceiling fans in the bedrooms and living room, washer/dryer hookups, and blinds throughout. Enjoy the outdoors from both the front and back covered patios, or take advantage of the spacious backyard designed for hobbies, pets, and relaxing evenings. The property includes a tree house, 8x12 chicken coop, fire-pit, raised garden beds with blackberries, strawberries, mint, peppermint, rosemary, and oregano, a convenient dog washing station, yard. building and garage cabinets for added storage. Located in Milton, this home also puts you close to the area’s natural outdoor lifestyle, with nearby access to local rivers, bays, fishing spots, boating, kayaking, and water recreation. Whether you enjoy casting a line, spending the day on the water, or simply relaxing outdoors, this property offers a great blend of modern comfort and laid-back Florida living. Modern home, spacious lot, outdoor extras, and close to water recreation — this one checks a lot of boxes.

2. 2026-05-09
   status Pending

   Show marketing remark (1677 chars)

   Welcome to 5618 Riviera Drive in Milton, a charming 3-bedroom, 2-bath home built in 2020 offering 1,248 sqft of comfortable living space on a spacious .30-acre lot. This home features an open layout with vinyl flooring through the hallway, kitchen, living room, and bathrooms, plus carpet in the bedrooms for added comfort. The living room includes a built-in bookcase, ceiling fan, and window blinds, creating a cozy and functional main living area. The kitchen offers stainless steel appliances, a breakfast bar, and an open dining area, making it great for everyday living and entertaining. The primary bedroom features a walk-in closet and private bathroom. Additional interior features include ceiling fans in the bedrooms and living room, washer/dryer hookups, and blinds throughout. Enjoy the outdoors from both the front and back covered patios, or take advantage of the spacious backyard designed for hobbies, pets, and relaxing evenings. The property includes a tree house, 8x12 chicken coop, fire-pit, raised garden beds with blackberries, strawberries, mint, peppermint, rosemary, and oregano, a convenient dog washing station, yard. building and garage cabinets for added storage. Located in Milton, this home also puts you close to the area’s natural outdoor lifestyle, with nearby access to local rivers, bays, fishing spots, boating, kayaking, and water recreation. Whether you enjoy casting a line, spending the day on the water, or simply relaxing outdoors, this property offers a great blend of modern comfort and laid-back Florida living. Modern home, spacious lot, outdoor extras, and close to water recreation — this one checks a lot of boxes.

3. 2026-05-04
   listed $267,500 Active 1677-char remark

   Show marketing remark (1677 chars)

   Welcome to 5618 Riviera Drive in Milton, a charming 3-bedroom, 2-bath home built in 2020 offering 1,248 sqft of comfortable living space on a spacious .30-acre lot. This home features an open layout with vinyl flooring through the hallway, kitchen, living room, and bathrooms, plus carpet in the bedrooms for added comfort. The living room includes a built-in bookcase, ceiling fan, and window blinds, creating a cozy and functional main living area. The kitchen offers stainless steel appliances, a breakfast bar, and an open dining area, making it great for everyday living and entertaining. The primary bedroom features a walk-in closet and private bathroom. Additional interior features include ceiling fans in the bedrooms and living room, washer/dryer hookups, and blinds throughout. Enjoy the outdoors from both the front and back covered patios, or take advantage of the spacious backyard designed for hobbies, pets, and relaxing evenings. The property includes a tree house, 8x12 chicken coop, fire-pit, raised garden beds with blackberries, strawberries, mint, peppermint, rosemary, and oregano, a convenient dog washing station, yard. building and garage cabinets for added storage. Located in Milton, this home also puts you close to the area’s natural outdoor lifestyle, with nearby access to local rivers, bays, fishing spots, boating, kayaking, and water recreation. Whether you enjoy casting a line, spending the day on the water, or simply relaxing outdoors, this property offers a great blend of modern comfort and laid-back Florida living. Modern home, spacious lot, outdoor extras, and close to water recreation — this one checks a lot of boxes.

4. 2026-05-04
   listed $267,500 Active

   Show marketing remark (1677 chars)

   Welcome to 5618 Riviera Drive in Milton, a charming 3-bedroom, 2-bath home built in 2020 offering 1,248 sqft of comfortable living space on a spacious .30-acre lot. This home features an open layout with vinyl flooring through the hallway, kitchen, living room, and bathrooms, plus carpet in the bedrooms for added comfort. The living room includes a built-in bookcase, ceiling fan, and window blinds, creating a cozy and functional main living area. The kitchen offers stainless steel appliances, a breakfast bar, and an open dining area, making it great for everyday living and entertaining. The primary bedroom features a walk-in closet and private bathroom. Additional interior features include ceiling fans in the bedrooms and living room, washer/dryer hookups, and blinds throughout. Enjoy the outdoors from both the front and back covered patios, or take advantage of the spacious backyard designed for hobbies, pets, and relaxing evenings. The property includes a tree house, 8x12 chicken coop, fire-pit, raised garden beds with blackberries, strawberries, mint, peppermint, rosemary, and oregano, a convenient dog washing station, yard. building and garage cabinets for added storage. Located in Milton, this home also puts you close to the area’s natural outdoor lifestyle, with nearby access to local rivers, bays, fishing spots, boating, kayaking, and water recreation. Whether you enjoy casting a line, spending the day on the water, or simply relaxing outdoors, this property offers a great blend of modern comfort and laid-back Florida living. Modern home, spacious lot, outdoor extras, and close to water recreation — this one checks a lot of boxes.

5. 2023-04-28
   soldstatus $247,000
6. 2023-04-13
   soldstatus $247,000 Sold 822-char remark

   Show marketing remark (822 chars)

   When you walk in the front door, you will be greeted with a spacious, open living area, starting with the living room and the kitchen with laminate hardwood floors. The kitchen features custom cabinets with soft-close hinges, a roll out trash can, crown molding, and built in pantry, and stainless steel appliances. The three bedrooms and the two bathrooms are on one side of the home, while the garage is on the other side. The home is protected with Fabric Shield for hurricane protection. Outside, there is a covered patio and a spacious fenced in back yard. The roof is equipped with Tamco Rustic black shingles, and the front of the home feature hardieboard siding. This home is located only minutes away to the Blackwater River boat launch, downtown Milton, and 30 minutes to Pensacola. Don't wait to tour this home!

7. 2023-03-12
   status Pending 822-char remark

   Show marketing remark (822 chars)

   When you walk in the front door, you will be greeted with a spacious, open living area, starting with the living room and the kitchen with laminate hardwood floors. The kitchen features custom cabinets with soft-close hinges, a roll out trash can, crown molding, and built in pantry, and stainless steel appliances. The three bedrooms and the two bathrooms are on one side of the home, while the garage is on the other side. The home is protected with Fabric Shield for hurricane protection. Outside, there is a covered patio and a spacious fenced in back yard. The roof is equipped with Tamco Rustic black shingles, and the front of the home feature hardieboard siding. This home is located only minutes away to the Blackwater River boat launch, downtown Milton, and 30 minutes to Pensacola. Don't wait to tour this home!

8. 2023-03-09
   listed $245,000 Active 822-char remark

   Show marketing remark (822 chars)

   When you walk in the front door, you will be greeted with a spacious, open living area, starting with the living room and the kitchen with laminate hardwood floors. The kitchen features custom cabinets with soft-close hinges, a roll out trash can, crown molding, and built in pantry, and stainless steel appliances. The three bedrooms and the two bathrooms are on one side of the home, while the garage is on the other side. The home is protected with Fabric Shield for hurricane protection. Outside, there is a covered patio and a spacious fenced in back yard. The roof is equipped with Tamco Rustic black shingles, and the front of the home feature hardieboard siding. This home is located only minutes away to the Blackwater River boat launch, downtown Milton, and 30 minutes to Pensacola. Don't wait to tour this home!

9. 2020-06-12
   soldstatus $182,000
10. 2020-04-25
    listed $174,900

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $2,342 · $195/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 ≥105°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,870
• − Mortgage interest: −$14,984
• − Property taxes: −$2,342
• − Insurance: −$1,338
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$7,782
• Taxable loss: −$6,395
• Est. tax savings @ 24.0%: +$1,535
• After-tax cash flow: $-121/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: Santa Rosa
• NCES district ID: 1201650
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $58,161
• Composite: 53.12/100
• National rank: #1511
• State rank: #8 of 73 in FL

Livability — East Milton

• Score: 77/100
• State rank: #199
• US rank: #3139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Milton, FL
• County: Santa Rosa County · 194,764 people
• City population: 31,415
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 31,828
• Household income: $85,440
• Rent vs Own: 12.9% rent · 87.1% own
• Severe rent burden: 122.0

Population outlook (Santa Rosa County) Hauer SSP2

• Today (2025): 195,978 people
• By 2030: 209,782 · +7.0%
• By 2040: 235,293 · +20.1%
• By 2050: 256,408 · +30.8%
• By 2075: 298,074 · +52.1%
• By 2100: 303,216 · +54.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 1%
• Common ancestry: Italian 3% Slovak 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3%

Political lean MEDSL · Santa Rosa

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.0%
• 2008→2024 swing: -3.0pp toward R · 2008: -47.9pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.5 2016: R+53.5 2012: R+52.6 2008: R+47.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.35%
• Current HPI: 301.8819
• Rent YoY: ▲ 4.53%
• Metro: Pensacola-Ferry Pass-Brent, 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

+52.9% since first listed

10 events — show timeline

• 2026-05-09 Contingent — PARMLS
• 2026-05-09 Pending — NAMLS
• 2026-05-04 Listed $267,500 NAMLS
• 2026-05-04 Listed $267,500 PARMLS
• 2023-04-28 Sold (Public Records) $247,000 Public Records
• 2023-04-13 Sold (MLS) $247,000 PARMLS
• 2023-03-12 Pending — PARMLS
• 2023-03-09 Listed $245,000 PARMLS
• 2020-06-12 Sold (MLS) $182,000 PARMLS
• 2020-04-25 Listed $174,900 PARMLS

Property tax history

+25.1%/yr

Latest (2025): $2,342 · +4.2% YoY. Source: county tax records.