556 Lee Ave · Crestview, FL 32539

$219,900

3 bd · 2.0 ba · 1,356 sqft · SingleFamily public records · 84 Days on market

Built 1988 0.26 ac lot $162/sqft · 10% below area Est $245k · 10% 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).

• Cash flow +12.7/30.0
• ARV discount +12.1/15.0
• Schools +5.2/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Finding a home that just fits makes every day a little brighter. This space is designed to be warm and welcoming, offering an inviting atmosphere that makes it easy to settle in and truly make it your own. It is a place that feels light and full of life from the moment you enter through the door. The real draw is the location. Sitting right at the crossroads of I-10, Highway 85, and Highway 90, you are perfectly positioned for whatever the day brings. Whether you are commuting to the local bases, making a quick trip to the coast, or exploring neighboring towns, the drive is effortless. Everything feels closer here, from local shops to your favorite weekend spots. It is a rare find that offers such a charming, sun-drenched living space while keeping you entirely connected to the pulse of the community. More photos coming soon!

Key facts

• 0.26 acre lot
• 2 parking spots
• Built 1988

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-22 ($-267/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (24.8% below list).
• Recommended offer: $165k (24.8% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 84 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $105k; list at $220k implies a 109% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,329 (24.8% 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 84 days. Have you received any prior offers? Is the seller open to a 25% 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: 0.75% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• GRM: 11.1

CMA / ARV

• ARV (median comp): $244,850
• List price: $219,900
• Delta: -10.19%
• 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
860 S Rayburn St	0.07mi	3/2.0	1,267 (-7%)	2mo	$244,900	$193	84
585 Brock Ave	0.08mi	3/2.0	1,267 (-7%)	2mo	$239,850	$189	84
858 Rayburn St	0.07mi	3/2.0	1,267 (-7%)	3mo	$244,900	$193	84
579 Brock Ave	0.07mi	3/2.0	1,267 (-7%)	4mo	$244,800	$193	83
583 Brock Ave	0.08mi	3/2.0	1,267 (-7%)	4mo	$239,900	$189	82
577 Brock Ave	0.08mi	3/2.0	1,267 (-7%)	4mo	$244,800	$193	82
300 Reed Ave	0.23mi	3/2.0	1,320 (-3%)	4mo	$284,000	$215	81
581 Brock Ave	0.08mi	3/2.0	1,267 (-7%)	6mo	$244,800	$193	81
591 Brock Ave	0.09mi	3/2.0	1,187 (-12%)	5mo	$199,999	$168	71
593 Brock Ave	0.09mi	3/2.0	1,187 (-12%)	5mo	$199,900	$168	71
742 E Chestnut Ave	0.52mi	3/2.0	1,267 (-7%)	1mo	$241,000	$190	64
223 Runnymeade Dr	0.66mi	3/2.0	1,272 (-6%)	1mo	$240,000	$189	58

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: -19.9%
• Equity multiple: 0.32×
• Total profit: $-41,797
• Equity at exit: $32,788

10-year hold

• IRR: -19.5%
• Equity multiple: 0.08×
• Total profit: $-56,634
• Equity at exit: $19,013

Cash invested: $61,572 (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: 11.1×

Monthly cashflow live

• Estimated rent: $1,653 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$84 /mo · $1,002/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-22

Break-even live

Break-even rent $1,681

Max offer price $215,977

Occupancy floor 96%

Sensitivity live

Price	-10% $102	-5% $40	+0% $-22	+5% $-84	+10% $-147
Rent	-10% $-153	-5% $-88	+0% $-22	+5% $43	+10% $108
Rate	-1.0pp $89	-0.5pp $34	base $-22	+0.5pp $-79	+1.0pp $-137

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Church St Crestview, FL	2.0	2.0	1086	$1,200	$1.10	44d	1	0.17mi
812 E Edney Ave Crestview, FL	2.0	2.0	1024	$1,400	$1.37	22d	1	0.41mi
812 E Edney Ave Crestview, FL	2.0	2.0	1024	$1,400	$1.37	45d	1	0.41mi
475 Aplin Rd Crestview, FL	1.0–2.0	1.0–2.0	764	$999	$1.31	44d	5	0.46mi
223 Johnson Ct #223 Crestview, FL	3.0	2.5	1496	$1,450	$0.97	44d	1	0.57mi
14 Flora Cv Crestview, FL	3.0	2.0	1357	$1,750	$1.29	22d	1	0.58mi
204 Johnson Ct Crestview, FL	3.0	2.5	1496	$1,450	$0.97	44d	1	0.58mi
202 Johnson Ct Crestview, FL	3.0	2.5	1496	$1,450	$0.97	44d	1	0.59mi
211 Johnson Ct Crestview, FL	3.0	2.5	1534	$1,450	$0.95	22d	1	0.59mi
401 S Booker St Crestview, FL	3.0	1.5	1040	$1,225	$1.18	44d	1	0.70mi
503 W Griffith Ave Crestview, FL	3.0	1.0	962	$1,395	$1.45	44d	1	0.72mi
812 Carlton St Crestview, FL	3.0	2.5	1393	$1,495	$1.07	22d	1	0.90mi
301 E Redstone Ave Crestview, FL	1.0–3.0	1.0–2.0	1100	$2,202	$2.00	14d	20	0.93mi
816 W Walnut Ave Crestview, FL	3.0	2.0	1297	$1,595	$1.23	44d	1	0.98mi
398 N Spring St Crestview, FL	2.0	1.0	1200	$1,300	$1.08	44d	1	1.04mi
4 Holly Rd Crestview, FL	3.0	2.0	1165	$1,725	$1.48	14d	1	1.06mi
4 Holly Rd Crestview, FL	3.0	2.0	1165	$1,725	$1.48	22d	1	1.06mi
122 Hampton Dr Unit 1 Crestview, FL	2.0	2.0	1080	$1,195	$1.11	44d	1	1.07mi
122 Hampton Dr Crestview, FL	2.0	1.5	1080	$1,195	$1.11	44d	1	1.07mi
124 Hampton Dr Crestview, FL	2.0	1.5	952	$1,195	$1.26	22d	1	1.07mi
124 Hampton Dr Unit 1 Crestview, FL	2.0	1.5	952	$1,195	$1.26	44d	1	1.08mi
3016 Aplin Rd Crestview, FL	3.0	2.0	1280	$1,400	$1.09	44d	1	1.09mi
107 Hampton Dr Crestview, FL	2.0	1.5	972	$1,300	$1.34	22d	1	1.09mi
295 Limestone Cir Crestview, FL	3.0	2.0	1107	$1,625	$1.47	44d	1	1.09mi
124 Sandstone Trl Crestview, FL	3.0	2.0	1748	$1,900	$1.09	14d	1	1.10mi
111 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,300	$0.90	44d	1	1.13mi
111 Steeplechase Dr Crestview, FL	3.0	2.0	1637	$1,795	$1.10	44d	1	1.14mi
177 Iron Horse Dr E Crestview, FL	3.0	2.5	1551	$1,700	$1.10	44d	1	1.16mi
4821 Acorn Dr Crestview, FL	3.0	2.0	1705	$1,930	$1.13	14d	1	1.17mi
4821 Acorn Dr Crestview, FL	3.0	2.0	1705	$1,930	$1.13	22d	1	1.17mi
343 Crooked Pine Trl Unit 1 Crestview, FL	3.0	2.5	1415	$1,350	$0.95	14d	1	1.20mi
143 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,450	$1.01	22d	1	1.20mi
347 Crooked Pine Trl Crestview, FL	3.0	2.5	1356	$1,500	$1.11	14d	1	1.20mi
147 Swaying Pine Ct Crestview, FL	3.0	2.5	1309	$1,395	$1.07	22d	1	1.20mi
163 Swaying Pine Ct Crestview, FL	3.0	2.5	1356	$1,300	$0.96	44d	1	1.24mi
365 Crooked Pine Trl Crestview, FL	3.0	2.5	1356	$1,350	$1.00	14d	1	1.24mi
304 Strawbridge Dr Crestview, FL	4.0	2.0	1650	$1,850	$1.12	14d	1	1.26mi
2500 E Redstone Ave Crestview, FL	1.0–3.0	1.0–2.0	1428	$1,952	$1.37	14d	6	1.26mi
661 Brookmeade Dr Crestview, FL	4.0	2.0	1637	$2,200	$1.34	14d	1	1.31mi
507 Eisenhower Dr Crestview, FL	3.0	2.0	1809	$2,200	$1.22	44d	1	1.40mi

Listing history 29 events

1. 2026-06-18
   days on market $219,900 Active 84 DOM
2. 2026-06-17
   days on market $219,900 Active 83 DOM
3. 2026-06-16
   days on market $219,900 Active 82 DOM
4. 2026-06-15
   days on market $219,900 Active 81 DOM
5. 2026-06-14
   days on market $219,900 Active 79 DOM
6. 2026-06-13
   days on market $219,900 Active 78 DOM
7. 2026-06-10
   days on market $219,900 Active 76 DOM
8. 2026-06-09
   days on market $219,900 Active 75 DOM
9. 2026-06-08
   days on market $219,900 Active 74 DOM
10. 2026-06-07
    days on market $219,900 Active 73 DOM
11. 2026-06-05
    days on market $219,900 Active 70 DOM
12. 2026-06-02
    days on market $219,900 Active 68 DOM
13. 2026-06-01
    days on market $219,900 Active 67 DOM
14. 2026-05-31
    days on market $219,900 Active 66 DOM
15. 2026-05-30
    days on market $219,900 Active 65 DOM
16. 2026-04-30
    price $219,900 837-char remark

    Show marketing remark (837 chars)

    Finding a home that just fits makes every day a little brighter. This space is designed to be warm and welcoming, offering an inviting atmosphere that makes it easy to settle in and truly make it your own. It is a place that feels light and full of life from the moment you enter through the door. The real draw is the location. Sitting right at the crossroads of I-10, Highway 85, and Highway 90, you are perfectly positioned for whatever the day brings. Whether you are commuting to the local bases, making a quick trip to the coast, or exploring neighboring towns, the drive is effortless. Everything feels closer here, from local shops to your favorite weekend spots. It is a rare find that offers such a charming, sun-drenched living space while keeping you entirely connected to the pulse of the community. More photos coming soon!

17. 2026-03-26
    listed $225,500 Active 837-char remark

    Show marketing remark (837 chars)

    Finding a home that just fits makes every day a little brighter. This space is designed to be warm and welcoming, offering an inviting atmosphere that makes it easy to settle in and truly make it your own. It is a place that feels light and full of life from the moment you enter through the door. The real draw is the location. Sitting right at the crossroads of I-10, Highway 85, and Highway 90, you are perfectly positioned for whatever the day brings. Whether you are commuting to the local bases, making a quick trip to the coast, or exploring neighboring towns, the drive is effortless. Everything feels closer here, from local shops to your favorite weekend spots. It is a rare find that offers such a charming, sun-drenched living space while keeping you entirely connected to the pulse of the community. More photos coming soon!

18. 2019-12-12
    soldstatus $105,000
19. 2019-12-12
    soldstatus $105,000
20. 2019-12-12
    soldstatus $105,000
21. 2019-11-09
    listed $99,900
22. 2005-06-06
    soldstatus $115,000
23. 2004-05-27
    soldstatus $74,500
24. 2004-05-27
    soldstatus $74,500
25. 2004-03-24
    listed $74,900
26. 2004-03-24
    listed $74,900
27. 2000-05-19
    soldstatus $59,900
28. 1999-09-28
    listed $59,900
29. 1999-09-07
    listed $59,900

ⓘ 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: $1,002 · $84/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$823/yr (+$69/mo · 82.1%)

ⓘ 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 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,839
• − Mortgage interest: −$12,318
• − Property taxes: −$1,002
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$6,397
• Taxable loss: −$4,151
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $730/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): 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

+267.1% since first listed

14 events — show timeline

• 2026-04-30 Price Changed $219,900 ECAR
• 2026-03-26 Listed $225,500 ECAR
• 2019-12-12 Sold (Public Records) $105,000 Public Records
• 2019-12-12 Sold (MLS) $105,000 NAMLS
• 2019-12-12 Sold (MLS) $105,000 ECAR
• 2019-11-09 Listed $99,900 NAMLS
• 2005-06-06 Sold (Public Records) $115,000 Public Records
• 2004-05-27 Sold (MLS) $74,500 NAMLS
• 2004-05-27 Sold (MLS) $74,500 ECAR
• 2004-03-24 Listed $74,900 NAMLS
• 2004-03-24 Listed $74,900 ECAR
• 2000-05-19 Sold (Public Records) $59,900 Public Records
• 1999-09-28 Listed $59,900 ECAR
• 1999-09-07 Listed $59,900 ECAR

Property tax history

-0.5%/yr

Latest (2025): $1,002 · +3.5% YoY. Source: county tax records.