9028 Larker Woods Rd · Navarre, FL 32566

$149,990

3 bd · 2.0 ba · 1,104 sqft · Manufactured public records · 56 Days on market

Built 1972 0.27 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a property by the Florida Gulf Beach? 1 mile away, less that that for all food and Walmart Income generating property 30k to 60,000 per year last 5, cash sale only, closing within 30 days. Offers start at Only $150,000 for this beautiful Vacation Rental or Personal Property. In season rents out 250-400 per night. Remodeled in last 5 years. Back up offers accepted. Bring your best.

Key facts

• Spacious yard
• Updated baths
• Upgraded rear deck

Tags

• UPDATED BATHS
• NEWER VINYL FLOORING
• FRESH PAINT
• TANKLESS WATER HEATER
• UPGRADED REAR DECK
• SPACIOUS YARD

Property features AI

Finance

• HOA & community: Subdivision: LARKER WOOD ESTATES

Exterior

• Parking: Paved road access
• Utilities: Electric; Public water; Public sewer; TV cable
• Home design: Single-story mobile home; Built in 1972; Private road frontage (paved)
• Construction: Aluminum siding; Metal roof
• Exterior features: Yard building; Partially fenced lot; Open deck

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 3 bedrooms; Master bedroom on the first floor, carpeted
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating via wall/window units; Window air conditioning units
• Interior features: Shelving; Washer/dryer hookup; Painted woodwork
• Laundry & utility: Washer; Dryer; Tankless water heater

Utilities

• : Water source: Public; Energy features: Window/wall AC, tankless water heater, wall/window heat

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y 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 $48k; list at $150k implies a 212% 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; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,490 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1972 — 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 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. 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: 1.39% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.24%
• DSCR: 1.95
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.74% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.53×
• Total profit: $22,451
• Equity at exit: $22,364

10-year hold

• IRR: 22.1%
• Equity multiple: 2.86×
• Total profit: $78,100
• Equity at exit: $12,968

Cash invested: $41,997 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,091 high
• Mortgage (P&I): −$787
• Tax from tax record: −$59 /mo · $709/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $743

Break-even live

Break-even rent $1,150

Max offer price $149,990

Occupancy floor 59%

Sensitivity live

Price	-10% $828	-5% $786	+0% $743	+5% $701	+10% $659
Rent	-10% $578	-5% $661	+0% $743	+5% $826	+10% $909
Rate	-1.0pp $819	-0.5pp $782	base $743	+0.5pp $705	+1.0pp $665

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: $37,498
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2239 Panhandle Trl Navarre, FL	2.0	1.0	754	$1,450	$1.92	15d	1	0.45mi
8733 Brown Pelican Cir Navarre, FL	3.0	2.5	1500	$1,950	$1.30	15d	1	0.59mi
8802 Pebble Brook Dr Navarre, FL	3.0	2.0	1300	$2,200	$1.69	15d	1	1.16mi
8524 Laredo St Navarre, FL	3.0	2.0	1279	$1,900	$1.49	24d	1	1.31mi
8524 Laredo St Navarre, FL	3.0	2.0	1279	$1,900	$1.49	15d	1	1.31mi
1921 Luneta St Navarre, FL	3.0	2.0	1481	$2,100	$1.42	24d	1	1.41mi
2154 Whispering Pines Blvd Unit 3 Navarre, FL	2.0	2.0	1100	$1,600	$1.45	15d	1	1.42mi
2154 Whispering Pines Blvd Unit 3 Navarre, FL	2.0	2.0	1100	$1,600	$1.45	24d	1	1.42mi

Listing history 34 events

1. 2026-06-18
   days on market $149,990 Active 56 DOM
2. 2026-06-17
   days on market $149,990 Active 55 DOM
3. 2026-06-16
   days on market $149,990 Active 54 DOM
4. 2026-06-15
   days on market $149,990 Active 53 DOM
5. 2026-06-14
   days on market $149,990 Active 51 DOM
6. 2026-06-10
   days on market $149,990 Active 48 DOM
7. 2026-06-09
   days on market $149,990 Active 47 DOM
8. 2026-06-08
   days on market $149,990 Active 46 DOM
9. 2026-06-07
   days on market $149,990 Active 45 DOM
10. 2026-06-05
    days on market $149,990 Active 42 DOM
11. 2026-06-03
    days on market $149,990 Active 41 DOM
12. 2026-06-02
    days on market $149,990 Active 40 DOM
13. 2026-06-01
    days on market $149,990 Active 39 DOM
14. 2026-05-31
    days on market $149,990 Active 38 DOM
15. 2026-05-31
    days on market $149,990 Active 37 DOM
16. 2026-04-23
    listed $149,990 Active
17. 2025-12-26
    listed $150,000 Active 399-char remark

    Show marketing remark (399 chars)

    Looking for a property by the Florida Gulf Beach? 1 mile away, less that that for all food and Walmart Income generating property 30k to 60,000 per year last 5, cash sale only, closing within 30 days. Offers start at Only $150,000 for this beautiful Vacation Rental or Personal Property. In season rents out 250-400 per night. Remodeled in last 5 years. Back up offers accepted. Bring your best.

18. 2025-12-05
    listed $149,990 Active
19. 2025-07-22
    price $170,000
20. 2025-07-09
    price $199,999
21. 2025-07-07
    price $224,500
22. 2025-06-28
    listed $225,000 Active
23. 2025-01-13
    price $179,900
24. 2025-01-02
    status Active
25. 2024-06-28
    listed $185,000 Active
26. 2024-06-16
    historical
27. 2024-02-07
    price $200,000
28. 2024-02-02
    price $185,000
29. 2023-12-17
    listed $199,000 Active
30. 2020-12-19
    historical
31. 2020-12-19
    historical
32. 2020-10-07
    listed $129,900
33. 2020-10-06
    listed $129,900
34. 2020-05-14
    soldstatus $48,000

ⓘ 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: $709 · $59/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$536/yr (+$45/mo · 75.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,087
• − Mortgage interest: −$8,402
• − Property taxes: −$709
• − Insurance: −$750
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − Depreciation: −$4,363
• Taxable income: $6,849
• Est. tax owed @ 24.0%: −$1,644
• After-tax cash flow: $7,277/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

+212.5% since first listed

19 events — show timeline

• 2026-04-23 Listed $149,990 ECAR
• 2025-12-26 Listed $150,000 ForSaleByOwner.com
• 2025-12-05 Listed $149,990 ECAR
• 2025-07-22 Price Changed $170,000 ECAR
• 2025-07-09 Price Changed $199,999 ECAR
• 2025-07-07 Price Changed $224,500 ECAR
• 2025-06-28 Listed $225,000 ECAR
• 2025-01-13 Price Changed $179,900 ECAR
• 2025-01-02 Relisted — ECAR
• 2024-06-28 Listed $185,000 ECAR
• 2024-06-16 Listing Removed — NAMLS
• 2024-02-07 Price Changed $200,000 NAMLS
• 2024-02-02 Price Changed $185,000 NAMLS
• 2023-12-17 Listed $199,000 NAMLS
• 2020-12-19 Listing Removed — NAMLS
• 2020-12-19 Listing Removed — PARMLS
• 2020-10-07 Listed $129,900 PARMLS
• 2020-10-06 Listed $129,900 NAMLS
• 2020-05-14 Sold (Public Records) $48,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $709 · +4.5% YoY. Source: county tax records.