5117 Colt Dr · Crestview, FL 32539

$256,900

3 bd · 2.0 ba · 1,290 sqft · SingleFamily public records · 372 Days on market

Built 2022 0.51 ac lot $199/sqft · 6% above area Est $242k · 6% over

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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 +12.7/30.0
• Schools +5.2/10.0
• ARV discount +4.7/15.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Like-new 3 bed, 2 bath home on a spacious 0.51-acre lot! Built in 2022, this 1,290 sq ft home features modern finishes throughout, including white shaker cabinets, granite countertops, and luxury vinyl plank flooring in the main areas. The open layout includes a walk-in pantry, a spacious master suite with walk-in closet, and plenty of natural light. Enjoy peaceful outdoor living with room to expand or entertain. Located in a quiet area with a country feel yet close to town. Assumable VA loan at 5.5% interest rate offers added value for qualified buyers. Schedule your tour today!

Key facts

• Natural light
• Spacious lot
• Modern finishes

Tags

• SPACIOUS LOT
• MODERN FINISHES
• WALK-IN PANTRY
• NATURAL LIGHT
• OUTDOOR LIVING
• QUIET AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $257k.

Deal economics

• At list price, monthly cash flow is $-29 ($-354/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (23.1% below list).
• Recommended offer: $198k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Market conditions: Rents flat; 521 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 32% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 372 days — a 12% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,553 (23.1% 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 372 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 10.8

CMA / ARV

• ARV (median comp): $241,850
• List price: $256,900
• Delta: 6.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4643 Eagle Way	0.37mi	3/2.0	1,302 (+1%)	1mo	$195,000	$150	81
4620 Eagle Way	0.25mi	3/2.0	1,329 (+3%)	6mo	$233,000	$175	78
4618 Eagle Way	0.25mi	3/2.0	1,355 (+5%)	4mo	$240,000	$177	76
5047 Poinsetta Ave	0.38mi	3/2.0	1,354 (+5%)	1mo	$245,000	$181	74
4643 Falcon Way	0.31mi	3/2.0	1,210 (-6%)	9mo	$250,000	$207	68
5302 Kervin Rd	0.48mi	3/2.0	1,223 (-5%)	6mo	$229,900	$188	64
5316 Kervin Rd	0.61mi	3/2.0	1,223 (-5%)	2mo	$235,900	$193	61
4645 Dove Way	0.41mi	3/2.0	1,428 (+11%)	5mo	$257,630	$180	59
5367 Highview Dr	0.72mi	3/2.0	1,361 (+6%)	3mo	$247,500	$182	55
5325 B Kervin Rd	0.71mi	3/2.0	1,212 (-6%)	8mo	$249,900	$206	50
5154 Rosebud Ave	0.70mi	3/2.0	1,386 (+7%)	7mo	$240,000	$173	49
5373 Highview Dr	0.72mi	3/2.0	1,210 (-6%)	12mo	$239,900	$198	46

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 · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.32×
• Total profit: $-49,155
• Equity at exit: $38,305

10-year hold

• IRR: -20.0%
• Equity multiple: 0.07×
• Total profit: $-67,117
• Equity at exit: $22,212

Cash invested: $71,932 (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 32539

• Home prices YoY: -17.8%
• Rents YoY: 0.1%
• Active inventory: 521
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,976 medium
• Mortgage (P&I): −$1,347
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $-29

Break-even live

Break-even rent $2,013

Max offer price $251,693

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: $64,225
• Closing costs: $7,707
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5237 Kervin Rd Crestview, FL	3.0	2.0	1563	$1,746	$1.12	43d	1	0.21mi
4624 Dove Way Crestview, FL	3.0	2.0	1369	$2,100	$1.53	13d	1	0.31mi
5654 Falcon Way Crestview, FL	2.0	1.0	966	$1,560	$1.61	43d	1	0.40mi
5312 Kervin Rd Crestview, FL	3.0	2.0	1210	$1,750	$1.45	13d	1	0.56mi

Listing history 26 events

1. 2026-06-18
   days on market $256,900 Active 372 DOM
2. 2026-06-17
   days on market $256,900 Active 371 DOM
3. 2026-06-16
   days on market $256,900 Active 370 DOM
4. 2026-06-15
   days on market $256,900 Active 369 DOM
5. 2026-06-14
   days on market $256,900 Active 367 DOM
6. 2026-06-13
   days on market $256,900 Active 366 DOM
7. 2026-06-10
   days on market $256,900 Active 364 DOM
8. 2026-06-09
   days on market $256,900 Active 363 DOM
9. 2026-06-08
   days on market $256,900 Active 362 DOM
10. 2026-06-07
    days on market $256,900 Active 361 DOM
11. 2026-06-05
    remarks 601-char remark
12. 2026-06-05
    days on market $256,900 Active 358 DOM
13. 2026-06-02
    days on market $256,900 Active 356 DOM
14. 2026-06-01
    days on market $256,900 Active 355 DOM
15. 2026-05-31
    days on market $256,900 Active 354 DOM
16. 2026-05-30
    days on market $256,900 Active 353 DOM
17. 2025-06-11
    listed $259,900 Active 586-char remark

    Show marketing remark (586 chars)

    Like-new 3 bed, 2 bath home on a spacious 0.51-acre lot! Built in 2022, this 1,290 sq ft home features modern finishes throughout, including white shaker cabinets, granite countertops, and luxury vinyl plank flooring in the main areas. The open layout includes a walk-in pantry, a spacious master suite with walk-in closet, and plenty of natural light. Enjoy peaceful outdoor living with room to expand or entertain. Located in a quiet area with a country feel yet close to town. Assumable VA loan at 5.5% interest rate offers added value for qualified buyers. Schedule your tour today!

18. 2022-05-17
    listed $249,900 391-char remark

    Show marketing remark (391 chars)

    NEW Construction!! Estimated completion date of April 15th.. Welcome home to this craftsman style home! It features beautiful white Shaker cabinets with Granite throughout the whole home! Lvp flooring in all main living areas and Bathrooms. The master bedroom is a generous size with large walk in closet! The Kitchen also features a nice size walk in Pantry with a full suite of appliances!

19. 2022-05-16
    soldstatus $255,000 391-char remark

    Show marketing remark (391 chars)

    NEW Construction!! Estimated completion date of April 15th.. Welcome home to this craftsman style home! It features beautiful white Shaker cabinets with Granite throughout the whole home! Lvp flooring in all main living areas and Bathrooms. The master bedroom is a generous size with large walk in closet! The Kitchen also features a nice size walk in Pantry with a full suite of appliances!

20. 2022-05-12
    soldstatus $255,000
21. 2022-05-03
    soldstatus $255,000 Sold
22. 2022-05-03
    soldstatus $255,000 Sold
23. 2022-04-04
    status Pending
24. 2022-04-04
    status Pending
25. 2022-04-01
    listed $249,900 Active
26. 2022-04-01
    listed $249,900 Active

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$502/yr (+$42/mo · 30.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 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: $23,706
• − Mortgage interest: −$14,390
• − Property taxes: −$1,631
• − Insurance: −$1,284
• − Repairs & maintenance: −$1,897
• − Management: −$1,897
• − Depreciation: −$7,473
• Taxable loss: −$4,866
• Est. tax savings @ 24.0%: +$1,168
• After-tax cash flow: $814/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): 33,290
• Household income: $74,369
• Rent vs Own: 21.7% rent · 78.3% own
• Severe rent burden: 371.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Iranian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -56.52%
• Current HPI: 261.1557
• Rent YoY: ▲ 0.12%
• 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

+4.0% since first listed

10 events — show timeline

• 2025-06-11 Listed $259,900 ECAR
• 2022-05-17 Listed $249,900 PARMLS
• 2022-05-16 Sold (MLS) $255,000 PARMLS
• 2022-05-12 Sold (Public Records) $255,000 Public Records
• 2022-05-03 Sold (MLS) $255,000 NAMLS
• 2022-05-03 Sold (MLS) $255,000 ECAR
• 2022-04-04 Pending — ECAR
• 2022-04-04 Pending — NAMLS
• 2022-04-01 Listed $249,900 ECAR
• 2022-04-01 Listed $249,900 NAMLS

Property tax history

+119.7%/yr

Latest (2025): $1,631 · +2.2% YoY. Source: county tax records.