2849 Penn St · Navarre, FL 32566

$330,000

3 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 8 Days on market

Built 1981 0.32 ac lot Est $308k · 7% 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 +13.2/30.0
• Schools +5.3/10.0
• ARV discount +4.3/15.0
• DSCR +4.0/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled deep in the quiet woods, is Navarre's newest 3 bedroom 2 bath renovated home. You cannot hear the roadway from this property, and will love the quaint updates and renovations that have taken place. As you walk in you'll enter the family room featuring updated laminate wood flooring. A grey paint scale throughout gives a modern edge. In your kitchen, enjoy high quality grade granite countertops. The home has 3 bedrooms, with the master suite being large enough to support a king bed. In the master bathroom, you'll enjoy a walk in tile shower. A quiet backyard fenced and ready for dogs can be accessed through a fully finished, tiled Florida room. All of this total package is becoming very hard to find in Navarre, so book your showing today.

Key facts

• Tiled walk-in shower
• Walk-in closet
• Updated kitchen

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• WALK-IN CLOSET
• TILED WALK-IN SHOWER
• FINISHED FLORIDA ROOM
• FENCED BACKYARD

Property features AI

Finance

• HOA & community: Subdivision: NONESUCH WAY

Exterior

• Parking: Attached 2-car garage with garage door opener; Driveway with space for 2 vehicles
• Security: Security system
• Utilities: Public water; Septic tank; Electric service; Phone and TV cable available
• Home design: Contemporary single-story home; Built in 1981; Resid Single Family zoning
• Construction: Frame, brick and wood siding construction; Shingle roof
• Exterior features: Level lot; Chain link fencing; Open deck; County road frontage (paved)

Interior

• Kitchen: Dishwasher; Range hood; Refrigerator; Pantry
• Bedrooms: 3 bedrooms (master on the first floor with walk-in closet and tile master bathroom)
• Flooring: Laminate; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Ceiling fans
• Interior features: Vaulted ceilings; Fireplace; Pantry; Double pane windows; Window treatments; Unfurnished
• Laundry & utility: No water heater listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-75 ($-897/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (22.3% below list).
• Recommended offer: $257k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.2% in Navarre — 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 70/100 on livability (#435 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, crime A-; Watch: health & safety C-, 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.
• Zoned schools: Holley-Navarre Primary (771 students, 41% FRL); Navarre High School (math 49% / reading 58%, grade C-, #146 of 667 statewide, top 22%, 2,406 students, 30% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 768 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $10k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 10y 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 $200k; list at $330k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,557 (22.3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $308,000
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2763 Bay Club Dr	0.27mi	3/2.0	1,380 (-1%)	14mo	$292,500	$212	73
2804 Teepee Rd	0.23mi	3/2.0	1,549 (+11%)	5mo	$340,000	$219	67
7597 Blackjack Cir	0.56mi	3/2.0	1,435 (+2%)	12mo	$323,000	$225	60
7538 Blackjack Cir	0.57mi	3/2.0	1,316 (-6%)	15mo	$275,000	$209	51
2736 Penn St	0.29mi	3/2.0	1,203 (-14%)	15mo	$295,000	$245	51
7897 Pleasant Oak Ave	0.69mi	3/2.0	1,431 (+2%)	17mo	$315,000	$220	50
7867 Pleasant Oak Ave	0.61mi	3/2.0	1,225 (-12%)	2mo	$327,000	$267	49
7653 East Bay Blvd	0.48mi	3/2.0	1,604 (+15%)	12mo	$327,000	$204	43
7855 Sleepy Bay Blvd	0.53mi	3/2.0	1,606 (+15%)	12mo	$361,500	$225	40
2763 Oakey Ct	0.51mi	3/2.0	1,606 (+15%)	16mo	$325,000	$202	38
2772 Oakey Ct	0.53mi	3/2.0	1,607 (+15%)	20mo	$355,000	$221	34

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 · 2.74% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-58,977
• Equity at exit: $49,204

10-year hold

• IRR: -11.0%
• Equity multiple: 0.35×
• Total profit: $-60,510
• Equity at exit: $28,532

Cash invested: $92,400 (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 32566

• Home prices YoY: -26.2%
• Rents YoY: 2.7%
• Active inventory: 768
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,566 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$167 /mo · $2,005/yr
• Insurance: −$138
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-75

Break-even live

Break-even rent $2,660

Max offer price $316,791

Occupancy floor 98%

Sensitivity live

Price	-10% $112	-5% $19	+0% $-75	+5% $-168	+10% $-262
Rent	-10% $-277	-5% $-176	+0% $-75	+5% $27	+10% $128
Rate	-1.0pp $91	-0.5pp $9	base $-75	+0.5pp $-160	+1.0pp $-247

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7288 Mossy Oaks Ct Navarre, FL	4.0	2.0	1705	$2,495	$1.46	24d	1	0.95mi
2634 Hidden Estates Cir Navarre, FL	3.0	2.0	1463	$2,200	$1.50	15d	1	1.00mi
2879 Leahs Ln Navarre, FL	3.0	2.5	1839	$2,150	$1.17	24d	1	1.06mi
7279 Majestic Blvd Navarre, FL	3.0	2.5	1574	$4,000	$2.54	24d	1	1.07mi
7223 Crown Ct Navarre, FL	3.0	2.5	1585	$1,950	$1.23	24d	1	1.11mi
2381 Hilton Dr Navarre, FL	3.0	2.0	1500	$2,200	$1.47	24d	1	1.34mi
2381 Hilton Dr Navarre, FL	3.0	2.0	1500	$2,200	$1.47	15d	1	1.34mi

Listing history 7 events

1. 2026-06-18
   days on market $330,000 Active 8 DOM
2. 2026-06-17
   days on market $330,000 Active 7 DOM
3. 2026-06-16
   days on market $330,000 Active 6 DOM
4. 2026-06-15
   days on market $330,000 Active 5 DOM
5. 2026-06-14
   days on market $330,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $330,000 Active 2 DOM

ⓘ 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: $2,005 · $167/mo
• Projected year-2 tax: $2,739 · $228/mo
• Expected delta: +$734/yr (+$61/mo · 36.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 21 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: $30,787
• − Mortgage interest: −$18,485
• − Property taxes: −$2,005
• − Insurance: −$2,448
• − Repairs & maintenance: −$2,463
• − Management: −$2,463
• − Depreciation: −$9,600
• Taxable loss: −$6,676
• Est. tax savings @ 24.0%: +$1,602
• After-tax cash flow: $705/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 — Navarre

• Score: 70/100
• State rank: #435
• US rank: #7790

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: Navarre, FL
• County: Santa Rosa County · 194,764 people
• City population: 43,883
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 43,883
• Household income: $105,551
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 608.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 9% Hispanic / Latino 9% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Scotch-Irish 3% Lithuanian 3% Romanian 2%
• Foreign-born: 6% · Canada, Jamaica, Vietnam
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Tagalog/Filipino 1%

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: ▼ -105.87%
• Current HPI: 298.6821
• Rent YoY: ▲ 2.74%
• 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

+135.9% since first listed

22 events — show timeline

• 2026-06-08 Listed $330,000 ECAR
• 2025-12-25 Rental Removed $1,895 BUILDIUM
• 2025-12-18 Price Changed $1,895 BUILDIUM
• 2025-11-01 Listed for Rent $2,095 BUILDIUM
• 2025-11-01 Rental Removed $2,095 TENANTTURNER2
• 2025-10-31 Listed for Rent $2,095 TENANTTURNER2
• 2024-06-01 Rental Removed $2,295 BUILDIUM
• 2024-04-02 Listed for Rent $2,295 BUILDIUM
• 2020-05-18 Sold (Public Records) $199,900 Public Records
• 2020-04-30 Sold (MLS) $199,900 NAMLS
• 2020-04-30 Sold (MLS) $199,900 ECAR
• 2020-03-20 Listed $199,900 NAMLS
• 2019-02-11 Sold (Public Records) $171,500 Public Records
• 2019-02-08 Sold (MLS) $171,500 PARMLS
• 2019-02-08 Sold (MLS) $171,500 NAMLS
• 2018-11-28 Listed $171,500 PARMLS
• 2018-11-28 Listed $171,500 NAMLS
• 2016-10-31 Sold (Public Records) $146,000 Public Records
• 2016-10-28 Sold (MLS) $146,000 PARMLS
• 2016-10-28 Sold (MLS) $146,000 NAMLS
• 2016-08-19 Listed $139,900 NAMLS
• 2016-08-09 Listed $139,900 PARMLS

Property tax history

+18.3%/yr

Latest (2025): $2,005 · +4.1% YoY. Source: county tax records.