3390 Montecito Blvd · Mulat, FL 32583

$275,000

3 bd · 2.0 ba · 1,325 sqft · SingleFamily public records · 61 Days on market

Built 1975 10,193 sqft lot Est $265k · 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 +11.8/30.0
• ARV discount +5.8/15.0
• Schools +5.3/10.0
• Rent growth +3.6/5.0
• DSCR +3.5/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Livability +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS-IS! Welcome to 3390 Montecito Blvd in Milton, a solid brick-on-slab 3-bedroom, 2-bath home offering 1,325 sq ft of potential on a quiet street with no HOA. The major systems are in great shape with a roof and exterior HVAC unit both just 3 years old, and an 8-year-old interior air handler. The layout includes a cozy living area with fireplace and original tile and vinyl flooring throughout. Sitting on a quarter acre lot, the backyard features a large detached garage—ideal for storage, a workshop, or future expansion. Located minutes from East Milton Park, top-rated Santa Rosa County schools, and a short drive to downtown Milton and I-10, this home is ideal for owner-occupants or DIY buyers ready to build sweat equity in a well-built home with great bones.

Key facts

• Covered front porch
• Brand-new flooring
• Hot water heater

Tags

• COVERED FRONT PORCH
• NEW ROOF
• HVAC SYSTEM
• HOT WATER HEATER
• BRAND-NEW FLOORING
• RECESSED LIGHTING

Property features AI

Finance

• Other: Located on a county-maintained road; Directions: From Avalon Blvd to Del Monte Street. Right on N 14th Avenue. House is one mile on the right.
• HOA & community: No association (annual fee frequency noted)

Exterior

• Parking: Two parking spaces per unit; Boat parking; Golf cart garage; RV access/parking
• Security: Smoke detectors
• Utilities: Public water; Copper wiring; Cable available
• Home design: Single-story home; Resale property; Not attached to another property; Homestead exempt; Green features include insulation, insulated floors, and insulated walls
• Construction: Brick construction; Slab foundation; Composition roof; Built on one level
• Exterior features: Front porch; Interior lot

Interior

• Kitchen: Remodeled kitchen with granite countertops and pantry (updated within 1 year); New countertops, new cabinets, and new appliances
• Bedrooms: Master bedroom on the first floor; All bedrooms on the first floor
• Flooring: Laminate flooring; Simulated wood flooring
• Bathrooms: Two full bathrooms; Remodeled bathrooms with new flooring, new vanities, tile, and new fixtures (updated within 1 year)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans for cooling
• Interior features: Baseboards; Ceiling fans; High-speed internet available; Recessed lighting; Insulated doors; Storm door(s); Blinds on windows
• Laundry & utility: Inside laundry with washer/dryer hookups; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-77 ($-926/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (24.3% below list).
• Recommended offer: $208k (24.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 41/100 on livability (#907 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, 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.
• Market conditions: Rents rising fast (+4.5%/yr); 806 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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

• It's been on market 61 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $135k; list at $275k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $208,210 (24.3% 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 61 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.76% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $265,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5069 Teresa Dr	0.22mi	3/2.0	1,335 (+1%)	10mo	$256,250	$192	80
3372 Childers St	0.07mi	3/2.0	1,512 (+14%)	2mo	$349,000	$231	72
3324 Bonfire Dr	0.24mi	3/2.0	1,200 (-9%)	3mo	$200,000	$167	71
3288 Damon Dr	0.41mi	3/2.0	1,250 (-6%)	4mo	$255,000	$204	68
5259 Sonoma Ct	0.65mi	3/2.0	1,312 (-1%)	1mo	$408,500	$311	67
3286 Damon Dr	0.40mi	3/2.0	1,250 (-6%)	7mo	$249,900	$200	66
3290 Damon Dr	0.38mi	3/2.0	1,250 (-6%)	10mo	$250,000	$200	64
3294 Damon Dr	0.40mi	3/2.0	1,250 (-6%)	13mo	$249,800	$200	61
3288 Electra Dr	0.45mi	3/2.0	1,375 (+4%)	14mo	$248,000	$180	61
5263 Sonoma Ct	0.66mi	2/2.0 (-1)	1,302 (-2%)	5mo	$390,500	$300	57
3294 Damon Dr	0.55mi	3/2.0	1,250 (-6%)	13mo	$249,800	$200	54
5259 Tallahassee St	0.63mi	3/2.0	1,470 (+11%)	13mo	$208,000	$141	42

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-46,301
• Equity at exit: $41,003

10-year hold

• IRR: -6.3%
• Equity multiple: 0.57×
• Total profit: $-33,188
• Equity at exit: $23,777

Cash invested: $77,000 (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: 11.0×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$165 /mo · $1,984/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-77

Break-even live

Break-even rent $2,180

Max offer price $261,368

Occupancy floor 99%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5093 Carley Ct Milton, FL	3.0	2.0	1657	$1,950	$1.18	13d	1	0.18mi
3210 Electra Dr Milton, FL	3.0	2.0	1543	$2,000	$1.30	13d	1	0.58mi
2989 N 5th Ave Milton, FL	3.0	2.0	1144	$2,400	$2.10	23d	1	1.10mi
5320 Cornwall Dr Milton, FL	3.0	2.0	1703	$2,200	$1.29	13d	1	1.11mi
4185 Pendragon Cir Unit Alisha walker Milton, FL	3.0	2.5	1553	$1,800	$1.16	13d	1	1.12mi
4167 Pendragon Cir Milton, FL	3.0	2.5	1553	$1,800	$1.16	13d	1	1.13mi
3863 Pendragon Cir , FL	3.0	2.5	1579	$2,500	$1.58	23d	1	1.17mi
4067 Pendragon Cir Milton, FL	3.0	2.5	1537	$1,800	$1.17	13d	1	1.20mi
4051 Pendragon Cir Milton, FL	3.0	2.5	1530	$1,800	$1.18	13d	1	1.21mi
3984 Pendragon Cir Unit 1 Milton, FL	3.0	2.5	1537	$1,800	$1.17	21d	1	1.25mi
5621 Fulcina Ct Milton, FL	3.0	2.0	1585	$1,900	$1.20	23d	1	1.25mi
5604 Shooting Star Ct Milton, FL	3.0	2.0	1324	$2,300	$1.74	13d	1	1.45mi
4413 Oak Vista Ln Milton, FL	1.0–3.0	1.0–2.0	992	$2,354	$2.37	13d	18	1.45mi
5625 Shooting Star Ct Milton, FL	3.0	2.0	1655	$1,950	$1.18	21d	1	1.46mi
5574 Peach Dr Milton, FL	3.0	2.0	1475	$1,900	$1.29	23d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $275,000 Active 61 DOM
2. 2026-06-17
   days on market $275,000 Active 60 DOM
3. 2026-06-16
   days on market $275,000 Active 59 DOM
4. 2026-06-15
   days on market $275,000 Active 58 DOM
5. 2026-06-14
   days on market $275,000 Active 56 DOM
6. 2026-06-10
   days on market $275,000 Active 53 DOM
7. 2026-06-09
   days on market $275,000 Active 52 DOM
8. 2026-06-08
   days on market $275,000 Active 51 DOM
9. 2026-06-07
   days on market $275,000 Active 50 DOM
10. 2026-06-05
    days on market $275,000 Active 47 DOM
11. 2026-06-03
    days on market $275,000 Active 46 DOM
12. 2026-06-02
    days on market $275,000 Active 45 DOM
13. 2026-06-01
    days on market $275,000 Active 44 DOM
14. 2026-05-31
    days on market $275,000 Active 43 DOM
15. 2026-05-31
    pricedays on market $275,000 Active 42 DOM
16. 2026-05-13
    status Active
17. 2026-05-04
    historical Contingent
18. 2026-04-18
    listed $279,990 Active
19. 2025-10-29
    soldstatus $135,000
20. 2025-10-21
    soldstatus $135,000 Sold 779-char remark

    Show marketing remark (779 chars)

    SOLD AS-IS! Welcome to 3390 Montecito Blvd in Milton, a solid brick-on-slab 3-bedroom, 2-bath home offering 1,325 sq ft of potential on a quiet street with no HOA. The major systems are in great shape with a roof and exterior HVAC unit both just 3 years old, and an 8-year-old interior air handler. The layout includes a cozy living area with fireplace and original tile and vinyl flooring throughout. Sitting on a quarter acre lot, the backyard features a large detached garage—ideal for storage, a workshop, or future expansion. Located minutes from East Milton Park, top-rated Santa Rosa County schools, and a short drive to downtown Milton and I-10, this home is ideal for owner-occupants or DIY buyers ready to build sweat equity in a well-built home with great bones.

21. 2025-08-06
    status Pending 779-char remark

    Show marketing remark (779 chars)

    SOLD AS-IS! Welcome to 3390 Montecito Blvd in Milton, a solid brick-on-slab 3-bedroom, 2-bath home offering 1,325 sq ft of potential on a quiet street with no HOA. The major systems are in great shape with a roof and exterior HVAC unit both just 3 years old, and an 8-year-old interior air handler. The layout includes a cozy living area with fireplace and original tile and vinyl flooring throughout. Sitting on a quarter acre lot, the backyard features a large detached garage—ideal for storage, a workshop, or future expansion. Located minutes from East Milton Park, top-rated Santa Rosa County schools, and a short drive to downtown Milton and I-10, this home is ideal for owner-occupants or DIY buyers ready to build sweat equity in a well-built home with great bones.

22. 2025-07-25
    status Active 779-char remark

    Show marketing remark (779 chars)

    SOLD AS-IS! Welcome to 3390 Montecito Blvd in Milton, a solid brick-on-slab 3-bedroom, 2-bath home offering 1,325 sq ft of potential on a quiet street with no HOA. The major systems are in great shape with a roof and exterior HVAC unit both just 3 years old, and an 8-year-old interior air handler. The layout includes a cozy living area with fireplace and original tile and vinyl flooring throughout. Sitting on a quarter acre lot, the backyard features a large detached garage—ideal for storage, a workshop, or future expansion. Located minutes from East Milton Park, top-rated Santa Rosa County schools, and a short drive to downtown Milton and I-10, this home is ideal for owner-occupants or DIY buyers ready to build sweat equity in a well-built home with great bones.

23. 2025-06-24
    status Pending 779-char remark

    Show marketing remark (779 chars)

    SOLD AS-IS! Welcome to 3390 Montecito Blvd in Milton, a solid brick-on-slab 3-bedroom, 2-bath home offering 1,325 sq ft of potential on a quiet street with no HOA. The major systems are in great shape with a roof and exterior HVAC unit both just 3 years old, and an 8-year-old interior air handler. The layout includes a cozy living area with fireplace and original tile and vinyl flooring throughout. Sitting on a quarter acre lot, the backyard features a large detached garage—ideal for storage, a workshop, or future expansion. Located minutes from East Milton Park, top-rated Santa Rosa County schools, and a short drive to downtown Milton and I-10, this home is ideal for owner-occupants or DIY buyers ready to build sweat equity in a well-built home with great bones.

24. 2025-05-22
    listed $155,000 Active 779-char remark

    Show marketing remark (779 chars)

    SOLD AS-IS! Welcome to 3390 Montecito Blvd in Milton, a solid brick-on-slab 3-bedroom, 2-bath home offering 1,325 sq ft of potential on a quiet street with no HOA. The major systems are in great shape with a roof and exterior HVAC unit both just 3 years old, and an 8-year-old interior air handler. The layout includes a cozy living area with fireplace and original tile and vinyl flooring throughout. Sitting on a quarter acre lot, the backyard features a large detached garage—ideal for storage, a workshop, or future expansion. Located minutes from East Milton Park, top-rated Santa Rosa County schools, and a short drive to downtown Milton and I-10, this home is ideal for owner-occupants or DIY buyers ready to build sweat equity in a well-built home with great bones.

25. 1984-06-01
    soldstatus $37,000
26. 1982-09-01
    soldstatus $37,000
27. 1975-06-01
    soldstatus $19,600

ⓘ 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: $1,984 · $165/mo
• Projected year-2 tax: $2,282 · $190/mo
• Expected delta: +$299/yr (+$25/mo · 15.1%)

ⓘ 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 10/10 Extreme 7 d/yr ≥105°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: $24,985
• − Mortgage interest: −$15,404
• − Property taxes: −$1,984
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$8,000
• Taxable loss: −$5,775
• Est. tax savings @ 24.0%: +$1,386
• After-tax cash flow: $460/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 — Mulat

• Score: 41/100
• State rank: #907
• US rank: #27108

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Santa Rosa County · 194,764 people
• 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

+1328.5% since first listed

12 events — show timeline

• 2026-05-13 Relisted — PARMLS
• 2026-05-04 Contingent — PARMLS
• 2026-04-18 Listed $279,990 PARMLS
• 2025-10-29 Sold (Public Records) $135,000 Public Records
• 2025-10-21 Sold (MLS) $135,000 PARMLS
• 2025-08-06 Pending — PARMLS
• 2025-07-25 Relisted — PARMLS
• 2025-06-24 Pending — PARMLS
• 2025-05-22 Listed $155,000 PARMLS
• 1984-06-01 Sold (Public Records) $37,000 Public Records
• 1982-09-01 Sold (Public Records) $37,000 Public Records
• 1975-06-01 Sold (Public Records) $19,600 Public Records

Property tax history

+14.8%/yr

Latest (2025): $1,984 · +213.4% YoY. Source: county tax records.