117 Fairway Dr · Crestview, FL 32536

$295,000

3 bd · 3.0 ba · 1,848 sqft · SingleFamily public records · 69 Days on market

Built 1992 0.36 ac lot $160/sqft · 14% below area Est $345k · 14% 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 +14.0/15.0
• Cash flow +7.8/30.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just off PJ Adams, this beautiful home features a spacious open-concept layout with an inviting eat-in kitchen complete with granite countertops, stainless steel appliances, stylish backsplash, and ample cabinetry. The great room offers a cozy fireplace and flows seamlessly into the dining area, creating the perfect space for both everyday living and entertaining. The primary suite is conveniently located on the main floor and boasts an en-suite bathroom with a relaxing garden tub, separate shower, double vanities, and two generously sized closets. Upstairs, you'll find a versatile bonus room ideal for a home office, playroom, or additional living space. Situated on a large lot, this home provides plenty of outdoor space and is ready for its new owner! Show today!

Key facts

• Dining area
• Eat-in kitchen
• Cozy fireplace

Tags

• OPEN-CONCEPT LAYOUT
• EAT-IN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• COZY FIREPLACE
• DINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $-334 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (31.4% below list).
• Recommended offer: $202k (31.4% below list) — sets the bar for 1% rule.

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 rising (+1.2%/yr); 349 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 31% of the median local income ($78k/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 $9k 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 69 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 28y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $202,223 (31.4% 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 69 days. Have you received any prior offers? Is the seller open to a 31% 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: 0.69% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.85%
• DSCR: 0.78
• GRM: 12.2

CMA / ARV

• ARV (median comp): $344,614
• List price: $295,000
• Delta: -14.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 Golf Course Dr	0.33mi	3/2.0	1,843 (-0%)	4mo	$331,000	$180	77
115 Williams Way	0.30mi	4/2.0 (+1)	1,881 (+2%)	4mo	$359,900	$191	71
109 Par Ct	0.23mi	4/2.0 (+1)	1,823 (-1%)	9mo	$345,000	$189	70
313 Country Club Dr	0.33mi	4/2.0 (+1)	1,823 (-1%)	6mo	$345,000	$189	68
101 Eagle Dr	0.37mi	3/2.0	1,748 (-5%)	4mo	$318,000	$182	66
103 Eagle Dr	0.38mi	4/2.0 (+1)	1,823 (-1%)	13mo	$348,000	$191	60
109 EAGLE Dr	0.39mi	3/2.0	1,989 (+8%)	7mo	$338,000	$170	59
101 Golf Course Dr	0.18mi	3/2.0	1,976 (+7%)	21mo	$345,000	$175	59
208 Golf Course Dr	0.24mi	3/2.0	2,086 (+13%)	18mo	$325,000	$156	48
4962 Antioch Rd	0.40mi	3/2.0	2,043 (+11%)	15mo	$375,000	$184	47
4850 Orlimar St	0.61mi	4/2.0 (+1)	1,699 (-8%)	11mo	$259,900	$153	40
819 Travis Ct	0.71mi	4/2.0 (+1)	2,040 (+10%)	1mo	$300,000	$147	39

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 · 1.17% rent growth · sell at horizon

5-year hold

• IRR: -26.5%
• Equity multiple: 0.12×
• Total profit: $-72,741
• Equity at exit: $43,985

10-year hold

• IRR: -30.6%
• Equity multiple: -0.27×
• Total profit: $-105,307
• Equity at exit: $25,506

Cash invested: $82,600 (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: 12.2×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$261 /mo · $3,134/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-334

Break-even live

Break-even rent $2,444

Max offer price $236,073

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Golf Course Dr Crestview, FL	3.0	2.0	1787	$1,895	$1.06	43d	1	0.17mi
614 Territory Ln Crestview, FL	3.0	2.0	1930	$1,900	$0.98	43d	1	0.74mi
667 Red Fern Rd Crestview, FL	4.0	3.0	2108	$2,200	$1.04	43d	1	1.01mi
315 Egan Dr Crestview, FL	4.0	2.0	1835	$1,950	$1.06	43d	1	1.03mi
526 Tikell Dr Crestview, FL	3.0	2.5	2095	$2,100	$1.00	13d	1	1.06mi

Listing history 47 events

1. 2026-06-18
   days on market $295,000 Active 69 DOM
2. 2026-06-17
   days on market $295,000 Active 68 DOM
3. 2026-06-16
   days on market $295,000 Active 67 DOM
4. 2026-06-15
   days on market $295,000 Active 66 DOM
5. 2026-06-14
   days on market $295,000 Active 64 DOM
6. 2026-06-13
   days on market $295,000 Active 63 DOM
7. 2026-06-10
   days on market $295,000 Active 61 DOM
8. 2026-06-09
   days on market $295,000 Active 60 DOM
9. 2026-06-08
   days on market $295,000 Active 59 DOM
10. 2026-06-07
    days on market $295,000 Active 58 DOM
11. 2026-06-05
    pricedays on market $295,000 Active 55 DOM
12. 2026-06-02
    days on market $299,000 Active 53 DOM
13. 2026-06-01
    days on market $299,000 Active 52 DOM
14. 2026-05-31
    days on market $299,000 Active 51 DOM
15. 2026-05-30
    days on market $299,000 Active 50 DOM
16. 2026-05-05
    price $299,000 782-char remark

    Show marketing remark (782 chars)

    Located just off PJ Adams, this beautiful home features a spacious open-concept layout with an inviting eat-in kitchen complete with granite countertops, stainless steel appliances, stylish backsplash, and ample cabinetry. The great room offers a cozy fireplace and flows seamlessly into the dining area, creating the perfect space for both everyday living and entertaining. The primary suite is conveniently located on the main floor and boasts an en-suite bathroom with a relaxing garden tub, separate shower, double vanities, and two generously sized closets. Upstairs, you'll find a versatile bonus room ideal for a home office, playroom, or additional living space. Situated on a large lot, this home provides plenty of outdoor space and is ready for its new owner! Show today!

17. 2026-04-27
    price $310,000 782-char remark

    Show marketing remark (782 chars)

    Located just off PJ Adams, this beautiful home features a spacious open-concept layout with an inviting eat-in kitchen complete with granite countertops, stainless steel appliances, stylish backsplash, and ample cabinetry. The great room offers a cozy fireplace and flows seamlessly into the dining area, creating the perfect space for both everyday living and entertaining. The primary suite is conveniently located on the main floor and boasts an en-suite bathroom with a relaxing garden tub, separate shower, double vanities, and two generously sized closets. Upstairs, you'll find a versatile bonus room ideal for a home office, playroom, or additional living space. Situated on a large lot, this home provides plenty of outdoor space and is ready for its new owner! Show today!

18. 2026-04-20
    price $320,000 782-char remark

    Show marketing remark (782 chars)

    Located just off PJ Adams, this beautiful home features a spacious open-concept layout with an inviting eat-in kitchen complete with granite countertops, stainless steel appliances, stylish backsplash, and ample cabinetry. The great room offers a cozy fireplace and flows seamlessly into the dining area, creating the perfect space for both everyday living and entertaining. The primary suite is conveniently located on the main floor and boasts an en-suite bathroom with a relaxing garden tub, separate shower, double vanities, and two generously sized closets. Upstairs, you'll find a versatile bonus room ideal for a home office, playroom, or additional living space. Situated on a large lot, this home provides plenty of outdoor space and is ready for its new owner! Show today!

19. 2026-04-10
    listed $325,000 Active 782-char remark

    Show marketing remark (782 chars)

    Located just off PJ Adams, this beautiful home features a spacious open-concept layout with an inviting eat-in kitchen complete with granite countertops, stainless steel appliances, stylish backsplash, and ample cabinetry. The great room offers a cozy fireplace and flows seamlessly into the dining area, creating the perfect space for both everyday living and entertaining. The primary suite is conveniently located on the main floor and boasts an en-suite bathroom with a relaxing garden tub, separate shower, double vanities, and two generously sized closets. Upstairs, you'll find a versatile bonus room ideal for a home office, playroom, or additional living space. Situated on a large lot, this home provides plenty of outdoor space and is ready for its new owner! Show today!

20. 2022-03-22
    soldstatus $295,000
21. 2022-03-18
    soldstatus $295,000 Sold 562-char remark

    Show marketing remark (562 chars)

    Located off PJ Adam's, this home offers a large open concept; with eat in kitchen, stainless steel appliances, backsplash, granite countertops, and more! The great room features a fireplace as well as a dining room across from kitchen! Primary bedroom is located downstairs which features an en-suite bathroom with a large garden tub, separate shower, double vanities, and two large closets! Upstairs offers an additional bonus room. The home is located on a very large lot and ready for its new owner! Seller will be replacing roof. Schedule your showing today.

22. 2022-03-18
    soldstatus $295,000 562-char remark

    Show marketing remark (562 chars)

    Located off PJ Adam's, this home offers a large open concept; with eat in kitchen, stainless steel appliances, backsplash, granite countertops, and more! The great room features a fireplace as well as a dining room across from kitchen! Primary bedroom is located downstairs which features an en-suite bathroom with a large garden tub, separate shower, double vanities, and two large closets! Upstairs offers an additional bonus room. The home is located on a very large lot and ready for its new owner! Seller will be replacing roof. Schedule your showing today.

23. 2022-02-19
    status Pending 562-char remark

    Show marketing remark (562 chars)

    Located off PJ Adam's, this home offers a large open concept; with eat in kitchen, stainless steel appliances, backsplash, granite countertops, and more! The great room features a fireplace as well as a dining room across from kitchen! Primary bedroom is located downstairs which features an en-suite bathroom with a large garden tub, separate shower, double vanities, and two large closets! Upstairs offers an additional bonus room. The home is located on a very large lot and ready for its new owner! Seller will be replacing roof. Schedule your showing today.

24. 2022-02-15
    listed $295,000 Active 562-char remark

    Show marketing remark (562 chars)

    Located off PJ Adam's, this home offers a large open concept; with eat in kitchen, stainless steel appliances, backsplash, granite countertops, and more! The great room features a fireplace as well as a dining room across from kitchen! Primary bedroom is located downstairs which features an en-suite bathroom with a large garden tub, separate shower, double vanities, and two large closets! Upstairs offers an additional bonus room. The home is located on a very large lot and ready for its new owner! Seller will be replacing roof. Schedule your showing today.

25. 2022-02-14
    listed $295,000 562-char remark

    Show marketing remark (562 chars)

    Located off PJ Adam's, this home offers a large open concept; with eat in kitchen, stainless steel appliances, backsplash, granite countertops, and more! The great room features a fireplace as well as a dining room across from kitchen! Primary bedroom is located downstairs which features an en-suite bathroom with a large garden tub, separate shower, double vanities, and two large closets! Upstairs offers an additional bonus room. The home is located on a very large lot and ready for its new owner! Seller will be replacing roof. Schedule your showing today.

26. 2018-09-20
    soldstatus $195,000
27. 2018-09-19
    soldstatus $195,000
28. 2018-09-19
    soldstatus $195,000
29. 2018-07-17
    listed $195,000
30. 2014-03-28
    soldstatus $143,000
31. 2014-03-28
    soldstatus $143,000
32. 2013-08-08
    listed $144,900
33. 2005-06-09
    historical
34. 2005-05-03
    listed $269,900
35. 2005-05-03
    listed $269,900
36. 2004-09-29
    soldstatus $148,000
37. 2004-09-23
    soldstatus $148,000
38. 2004-09-23
    soldstatus $148,000
39. 2004-08-04
    listed $145,000
40. 2004-08-04
    listed $145,000
41. 1998-12-21
    soldstatus $87,900
42. 1998-12-18
    soldstatus $87,900
43. 1998-12-18
    soldstatus $87,900
44. 1998-08-12
    listed $87,900
45. 1998-08-12
    listed $87,900
46. 1992-11-01
    soldstatus $85,500
47. 1992-05-01
    soldstatus $17,000

ⓘ 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: $3,134 · $261/mo
• Projected year-2 tax: $3,134 · $261/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 ≥106°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,267
• − Mortgage interest: −$16,525
• − Property taxes: −$3,134
• − Insurance: −$1,475
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − Depreciation: −$8,582
• Taxable loss: −$9,332
• Est. tax savings @ 24.0%: +$2,240
• After-tax cash flow: $-1,763/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

• Census place: Crestview, FL
• 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

+1658.8% since first listed

32 events — show timeline

• 2026-05-05 Price Changed $299,000 ECAR
• 2026-04-27 Price Changed $310,000 ECAR
• 2026-04-20 Price Changed $320,000 ECAR
• 2026-04-10 Listed $325,000 ECAR
• 2022-03-22 Sold (Public Records) $295,000 Public Records
• 2022-03-18 Sold (MLS) $295,000 NAMLS
• 2022-03-18 Sold (MLS) $295,000 ECAR
• 2022-02-19 Pending — ECAR
• 2022-02-15 Listed $295,000 ECAR
• 2022-02-14 Listed $295,000 NAMLS
• 2018-09-20 Sold (Public Records) $195,000 Public Records
• 2018-09-19 Sold (MLS) $195,000 NAMLS
• 2018-09-19 Sold (MLS) $195,000 ECAR
• 2018-07-17 Listed $195,000 NAMLS
• 2014-03-28 Sold (MLS) $143,000 ECAR
• 2014-03-28 Sold (MLS) $143,000 NAMLS
• 2013-08-08 Listed $144,900 NAMLS
• 2005-06-09 Listing Removed — NAMLS
• 2005-05-03 Listed $269,900 NAMLS
• 2005-05-03 Listed $269,900 ECAR
• 2004-09-29 Sold (Public Records) $148,000 Public Records
• 2004-09-23 Sold (MLS) $148,000 ECAR
• 2004-09-23 Sold (MLS) $148,000 NAMLS
• 2004-08-04 Listed $145,000 ECAR
• 2004-08-04 Listed $145,000 NAMLS
• 1998-12-21 Sold (Public Records) $87,900 Public Records
• 1998-12-18 Sold (MLS) $87,900 ECAR
• 1998-12-18 Sold (MLS) $87,900 NAMLS
• 1998-08-12 Listed $87,900 ECAR
• 1998-08-12 Listed $87,900 NAMLS
• 1992-11-01 Sold (Public Records) $85,500 Public Records
• 1992-05-01 Sold (Public Records) $17,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $3,134 · -3.8% YoY. Source: county tax records.