482 E Bowers Ave · Crestview, FL 32539

$89,999

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 48 Days on market

Built 1959 0.36 ac lot $96/sqft · 29% below area Est $127k · 29% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming opportunity in the heart of Crestview! Welcome to 482 E Bowers Ave--an ideal property for investors or buyers looking to add their personal touch. This home features solid potential with a functional layout and ample yard space with pecan tress and wild blackberries. Conveniently located near local schools, shopping, dining, and just a short drive to Eglin Air Force Base and the beautiful Emerald Coast beaches. Property is being sold as-is, with no repairs to be made by the seller. Buyer to verify all measurements, zoning, and property details. Don't miss this value-add opportunity in a desired area--come take a look today!

Key facts

• Functional layout
• Ample yard space
• Outdoor living

Tags

• AMPLE YARD SPACE
• OUTDOOR LIVING
• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Seller will accept conventional financing and other financing types

Exterior

• Parking: Carport (1 space)
• Utilities: Electric service; Public water
• Home design: Detached single-family home; Residential property
• Construction: Built in 1959
• Exterior features: Level lot; Sidewalk; Lot dimensions approximately 265 x 60

Interior

• Kitchen: Refrigerator; Electric stove/oven
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One-story layout; Refrigerator; Electric stove/oven

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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.
• Zoned schools: Northwood Elementary School (math 63% / reading 56%, grade B-, #690 of 2,144 statewide, top 34%, 828 students, 63% FRL); Shoal River Middle School (math 49% / reading 54%, grade C, #232 of 571 statewide, top 41%, 927 students, 55% FRL); Crestview High School (math 49% / reading 54%, grade D+, #167 of 667 statewide, top 25%, 2,315 students, 42% FRL) — zoned schools average 54% FRL vs 36% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 521 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $90k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $87,299 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.69% ✓
• Cap rate: 14.27%
• Cash-on-cash: 28.49%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $127,090
• List price: $89,999
• Delta: -29.18%
• 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
552 Reed Ave	0.23mi	3/1.0	960 (+3%)	1mo	$79,900	$83	84
228 Cross Dr	0.53mi	3/1.0	888 (-5%)	2mo	$37,500	$42	65
503 Tall Pines St	0.33mi	3/2.0	1,070 (+14%)	3mo	$150,000	$140	54
504 Tall Pines St	0.35mi	3/1.0	1,025 (+10%)	16mo	$180,000	$176	54
204 Amellia Pl	0.70mi	3/1.5	950 (+2%)	14mo	$205,000	$216	51
1018 S Wilson St	0.49mi	3/1.0	1,032 (+10%)	11mo	$60,000	$58	51
406 Cooper St	0.75mi	3/1.0	952 (+2%)	18mo	$224,900	$236	47
393 Crossland St	0.52mi	3/2.0	1,030 (+10%)	10mo	$202,000	$196	47
520 E Williams Ave	0.61mi	3/2.0	1,024 (+9%)	8mo	$199,900	$195	46
812 E Edney Ave	0.67mi	3/1.0	1,024 (+9%)	14mo	$69,900	$68	42
271 N Booker St	0.72mi	2/1.0 (-1)	884 (-6%)	20mo	$54,900	$62	36
115 Lea Pl	0.69mi	3/2.0	1,068 (+14%)	16mo	$193,500	$181	27

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: 19.5%
• Equity multiple: 1.76×
• Total profit: $19,245
• Equity at exit: $13,419

10-year hold

• IRR: 25.8%
• Equity multiple: 2.95×
• Total profit: $49,257
• Equity at exit: $7,781

Cash invested: $25,200 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$472
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $598

Break-even live

Break-even rent $766

Max offer price $89,999

Occupancy floor 56%

Sensitivity live

Price	-10% $649	-5% $624	+0% $598	+5% $573	+10% $547
Rent	-10% $478	-5% $538	+0% $598	+5% $658	+10% $719
Rate	-1.0pp $644	-0.5pp $621	base $598	+0.5pp $575	+1.0pp $551

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	0.53mi
401 S Booker St Crestview, FL	3.0	1.5	1040	$1,225	$1.18	44d	1	0.55mi
503 W Griffith Ave Crestview, FL	3.0	1.0	962	$1,395	$1.45	44d	1	0.57mi
812 E Edney Ave Crestview, FL	2.0	2.0	1024	$1,400	$1.37	45d	1	0.66mi
812 E Edney Ave Crestview, FL	2.0	2.0	1024	$1,400	$1.37	21d	1	0.66mi
650 Blakely Ave Crestview, FL	2.0	1.0	648	$1,000	$1.54	14d	1	0.91mi
475 Aplin Rd Crestview, FL	1.0–2.0	1.0–2.0	764	$999	$1.31	44d	5	0.91mi
107 Hampton Dr Crestview, FL	2.0	1.5	972	$1,300	$1.34	21d	1	0.93mi
122 Hampton Dr Unit 1 Crestview, FL	2.0	2.0	1080	$1,195	$1.11	44d	1	0.94mi
122 Hampton Dr Crestview, FL	2.0	1.5	1080	$1,195	$1.11	44d	1	0.94mi
124 Hampton Dr Crestview, FL	2.0	1.5	952	$1,195	$1.26	21d	1	0.94mi
124 Hampton Dr Unit 1 Crestview, FL	2.0	1.5	952	$1,195	$1.26	44d	1	0.94mi
498 North Ave E Unit A Crestview, FL	2.0	2.0	1081	$1,450	$1.34	44d	1	1.17mi
168 Cabana Way Crestview, FL	3.0	2.0	1100	$1,700	$1.55	21d	1	1.25mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,400	$1.27	44d	1	1.31mi
720 Arbor Lake Dr Crestview, FL	2.0	2.5	1100	$1,375	$1.25	21d	1	1.31mi
301 E Redstone Ave Crestview, FL	1.0–3.0	1.0–2.0	1100	$2,202	$2.00	14d	20	1.36mi

Listing history 19 events

1. 2026-06-18
   days on market $89,999 Active 48 DOM
2. 2026-06-17
   days on market $89,999 Active 47 DOM
3. 2026-06-16
   days on market $89,999 Active 46 DOM
4. 2026-06-15
   days on market $89,999 Active 45 DOM
5. 2026-06-14
   days on market $89,999 Active 43 DOM
6. 2026-06-13
   days on market $89,999 Active 42 DOM
7. 2026-06-10
   days on market $89,999 Active 40 DOM
8. 2026-06-09
   days on market $89,999 Active 39 DOM
9. 2026-06-08
   days on market $89,999 Active 38 DOM
10. 2026-06-07
    days on market $89,999 Active 37 DOM
11. 2026-06-05
    days on market $89,999 Active 34 DOM
12. 2026-06-02
    days on market $89,999 Active 32 DOM
13. 2026-06-01
    days on market $89,999 Active 31 DOM
14. 2026-05-31
    days on market $89,999 Active 30 DOM
15. 2026-05-30
    days on market $89,999 Active 29 DOM
16. 2026-05-12
    price $94,999 642-char remark
17. 2026-05-01
    listed $99,999 Active 642-char remark
18. 1997-10-23
    soldstatus $20,000
19. 1979-07-01
    soldstatus $17,500

ⓘ 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: $1,147 · $96/mo
• Projected year-2 tax: $1,147 · $96/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 ≥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: $18,278
• − Mortgage interest: −$5,041
• − Property taxes: −$1,147
• − Insurance: −$450
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$2,618
• Taxable income: $6,098
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $5,716/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

+414.3% since first listed

5 events — show timeline

• 2026-05-25 Price Changed $89,999 NAMLS
• 2026-05-12 Price Changed $94,999 NAMLS
• 2026-05-01 Listed $99,999 NAMLS
• 1997-10-23 Sold (Public Records) $20,000 Public Records
• 1979-07-01 Sold (Public Records) $17,500 Public Records

Property tax history

+27.0%/yr

Latest (2025): $1,147 · +10.2% YoY. Source: county tax records.