156 Swaying Pine Ct · Crestview, FL 32539

$185,000

3 bd · 3.0 ba · 1,440 sqft · Townhouse public records · 59 Days on market

Built 1982 4,356 sqft lot Est $186k · at est. $35/mo HOA · 2% of rent

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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 +15.7/30.0
• ARV discount +7.7/15.0
• Schools +5.2/10.0
• DSCR +4.8/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience Refined Living & Investment Excellence in Crestview Discover a rare opportunity to own a sophisticated 3-bedroom, 2.5-bathroom residence in the esteemed Rolling Hills enclave. This meticulously maintained townhome seamlessly blends modern elegance with unparalleled versatility, making it a premier choice for a high-end primary residence or a curated short-term rental portfolio. The main level invites you into an expansive, light-filled open-concept living suite, perfectly designed for entertaining. A gourmet-inspired kitchen, complete with a generous pantry, flows effortlessly into the dining area. For ultimate convenience, the first floor also features a private 1-car garage with expanded storage and a designer powder room. Ascend to the upper level to find a palatial master retreat featuring soaring vaulted ceilings, a spa-like ensuite with an oversized vanity and soaking tub, and a grand walk-in closet. Two additional guest chambers and a dedicated laundry suite complete the interior. Step outside to a private terrace, offering an elegant setting for alfresco dining. For those seeking an effortless transition into the short-term rental market, high-end furnishings are negotiable, offering true turnkey potential. Minutes from premier medical hubs and local amenities—this is the pinnacle of Crestview living.

Key facts

• Open patio
• Walk-in closet
• Large pantry

Tags

• FULLY EQUIPPED KITCHEN
• LARGE PANTRY
• 1 CAR GARAGE
• PRIVATE BATHROOM
• WALK-IN CLOSET
• OPEN PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $80 ($955/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (5.9% below list).
• Recommended offer: $174k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $1k of loan paydown is wiped out by about $6k 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 59 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,164 (5.9% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.94% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.84%
• DSCR: 1.08
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $185,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 Swaying Pine Ct	0.05mi	3/2.5	1,440 (0%)	10mo	$185,000	$128	87
361 Crooked Pine Trl	0.02mi	3/2.5	1,356 (-6%)	1mo	$175,000	$129	87
151 Swaying Pine Ct	0.03mi	3/2.5	1,356 (-6%)	1mo	$180,000	$133	86
122 Swaying Pine Ct	0.08mi	3/2.5	1,356 (-6%)	2mo	$175,000	$129	83
363 Crooked Pine Trl	0.02mi	3/2.5	1,356 (-6%)	11mo	$164,000	$121	78
222 Swaying Pine Ct	0.13mi	3/2.5	1,356 (-6%)	6mo	$180,000	$133	77
314 Crooked Pine Trl	0.12mi	3/2.5	1,356 (-6%)	8mo	$182,000	$134	76
178 Swaying Pine Ct	0.04mi	3/2.5	1,562 (+8%)	8mo	$163,500	$105	76
151 E Iron Horse Dr	0.16mi	3/2.5	1,554 (+8%)	4mo	$215,000	$138	74
180 Swaying Pine Ct	0.04mi	3/2.5	1,564 (+9%)	18mo	$198,000	$127	66
114 E Iron Horse Dr	0.19mi	3/2.5	1,551 (+8%)	16mo	$225,000	$145	63
293 Swaying Pine Ct	0.19mi	3/2.5	1,562 (+8%)	20mo	$128,501	$82	59

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: -16.7%
• Equity multiple: 0.43×
• Total profit: $-29,776
• Equity at exit: $27,584

10-year hold

• IRR: -14.9%
• Equity multiple: 0.26×
• Total profit: $-38,253
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$970
• Tax from tax record: −$214 /mo · $2,569/yr
• Insurance: −$77
• HOA: −$35
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $80

Break-even live

Break-even rent $1,641

Max offer price $185,000

Occupancy floor 90%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 Crooked Pine Trl Crestview, FL	3.0	2.5	1356	$1,350	$1.00	13d	1	0.02mi
347 Crooked Pine Trl Crestview, FL	3.0	2.5	1356	$1,500	$1.11	13d	1	0.03mi
147 Swaying Pine Ct Crestview, FL	3.0	2.5	1309	$1,395	$1.07	21d	1	0.03mi
143 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,450	$1.01	21d	1	0.04mi
343 Crooked Pine Trl Unit 1 Crestview, FL	3.0	2.5	1415	$1,350	$0.95	13d	1	0.04mi
163 Swaying Pine Ct Crestview, FL	3.0	2.5	1356	$1,300	$0.96	43d	1	0.04mi
111 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,300	$0.90	43d	1	0.09mi
295 Limestone Cir Crestview, FL	3.0	2.0	1107	$1,625	$1.47	43d	1	0.15mi
177 Iron Horse Dr E Crestview, FL	3.0	2.5	1551	$1,700	$1.10	43d	1	0.15mi
234 Swaying Pine Ct Crestview, FL	3.0	2.5	1440	$1,350	$0.94	43d	1	0.18mi
240 Swaying Pine Ct Crestview, FL	3.0	2.5	1356	$1,400	$1.03	43d	1	0.20mi
124 Sandstone Trl Crestview, FL	3.0	2.0	1748	$1,900	$1.09	13d	1	0.21mi
2500 E Redstone Ave Crestview, FL	1.0–3.0	1.0–2.0	1428	$1,952	$1.37	13d	6	0.26mi
648 Alysheba Dr Crestview, FL	3.0	2.0	1341	$1,800	$1.34	21d	1	0.32mi
4 Holly Rd Crestview, FL	3.0	2.0	1165	$1,725	$1.48	21d	1	0.38mi
4 Holly Rd Crestview, FL	3.0	2.0	1165	$1,725	$1.48	13d	1	0.38mi
111 Steeplechase Dr Crestview, FL	3.0	2.0	1637	$1,795	$1.10	43d	1	0.46mi
114 Blooming Cv Crestview, FL	3.0	2.0	1712	$2,095	$1.22	21d	1	0.52mi
812 Moorhen Way Crestview, FL	4.0	2.0	1830	$2,195	$1.20	43d	1	0.58mi
210 Lyla Ln Crestview, FL	4.0	2.0	1815	$2,295	$1.26	43d	1	0.59mi
301 E Redstone Ave Crestview, FL	1.0–3.0	1.0–2.0	1100	$2,202	$2.00	13d	20	0.62mi
157 Blooming Cv Crestview, FL	3.0	2.0	1727	$1,995	$1.16	43d	1	0.62mi
916 Merganser Way Crestview, FL	3.0	2.0	1631	$1,950	$1.20	21d	1	0.62mi
201 Lyla Ln Crestview, FL	3.0	2.0	1727	$1,999	$1.16	21d	1	0.63mi
201 Lyla Ln Crestview, FL	3.0	2.0	1727	$2,095	$1.21	13d	1	0.63mi
14 Flora Cv Crestview, FL	3.0	2.0	1357	$1,750	$1.29	21d	1	0.65mi
833 Moorhen Way Crestview, FL	4.0	2.0	1830	$2,100	$1.15	44d	1	0.70mi
833 Moorhen Way Crestview, FL	4.0	2.0	1830	$2,000	$1.09	21d	1	0.70mi
4821 Acorn Dr Crestview, FL	3.0	2.0	1705	$1,930	$1.13	13d	1	0.72mi
4821 Acorn Dr Crestview, FL	3.0	2.0	1705	$1,930	$1.13	21d	1	0.72mi
661 Brookmeade Dr Crestview, FL	4.0	2.0	1637	$2,200	$1.34	13d	1	0.72mi
3016 Aplin Rd Crestview, FL	3.0	2.0	1280	$1,400	$1.09	43d	1	0.73mi
1035 Limpkin St Crestview, FL	4.0	2.0	1830	$2,300	$1.26	43d	1	0.76mi
475 Aplin Rd Crestview, FL	1.0–2.0	1.0–2.0	764	$999	$1.31	43d	5	0.78mi
727 Quintana St Crestview, FL	4.0	2.0	1768	$2,300	$1.30	13d	1	0.82mi
719 Quintana St Crestview, FL	4.0	2.0	1768	$2,000	$1.13	43d	1	0.82mi
107 Trenton Ave Crestview, FL	4.0	3.0	1799	$2,150	$1.20	43d	1	0.96mi
413 Scarborough St Crestview, FL	4.0	2.0	1768	$2,100	$1.19	13d	1	1.02mi
440 Scarborough St Crestview, FL	4.0	2.0	1387	$2,100	$1.51	43d	1	1.05mi
4799 Coronado Cir Crestview, FL	3.0	2.0	1476	$2,200	$1.49	13d	1	1.11mi

HOA detail

• Monthly dues: $35 · $420/yr

Listing history 22 events

1. 2026-06-18
   days on market $185,000 Active 59 DOM
2. 2026-06-17
   days on market $185,000 Active 58 DOM
3. 2026-06-16
   days on market $185,000 Active 57 DOM
4. 2026-06-15
   days on market $185,000 Active 56 DOM
5. 2026-06-14
   days on market $185,000 Active 54 DOM
6. 2026-06-13
   days on market $185,000 Active 53 DOM
7. 2026-06-10
   days on market $185,000 Active 51 DOM
8. 2026-06-09
   days on market $185,000 Active 50 DOM
9. 2026-06-08
   days on market $185,000 Active 49 DOM
10. 2026-06-07
    days on market $185,000 Active 48 DOM
11. 2026-06-05
    days on market $185,000 Active 45 DOM
12. 2026-06-02
    days on market $185,000 Active 43 DOM
13. 2026-06-01
    days on market $185,000 Active 42 DOM
14. 2026-05-31
    days on market $185,000 Active 41 DOM
15. 2026-05-30
    days on market $185,000 Active 40 DOM
16. 2026-04-20
    status Active 1354-char remark

    Show marketing remark (1354 chars)

    Experience Refined Living & Investment Excellence in Crestview Discover a rare opportunity to own a sophisticated 3-bedroom, 2.5-bathroom residence in the esteemed Rolling Hills enclave. This meticulously maintained townhome seamlessly blends modern elegance with unparalleled versatility, making it a premier choice for a high-end primary residence or a curated short-term rental portfolio. The main level invites you into an expansive, light-filled open-concept living suite, perfectly designed for entertaining. A gourmet-inspired kitchen, complete with a generous pantry, flows effortlessly into the dining area. For ultimate convenience, the first floor also features a private 1-car garage with expanded storage and a designer powder room. Ascend to the upper level to find a palatial master retreat featuring soaring vaulted ceilings, a spa-like ensuite with an oversized vanity and soaking tub, and a grand walk-in closet. Two additional guest chambers and a dedicated laundry suite complete the interior. Step outside to a private terrace, offering an elegant setting for alfresco dining. For those seeking an effortless transition into the short-term rental market, high-end furnishings are negotiable, offering true turnkey potential. Minutes from premier medical hubs and local amenities—this is the pinnacle of Crestview living.

17. 2026-04-18
    historical 1354-char remark

    Show marketing remark (1354 chars)

    Experience Refined Living & Investment Excellence in Crestview Discover a rare opportunity to own a sophisticated 3-bedroom, 2.5-bathroom residence in the esteemed Rolling Hills enclave. This meticulously maintained townhome seamlessly blends modern elegance with unparalleled versatility, making it a premier choice for a high-end primary residence or a curated short-term rental portfolio. The main level invites you into an expansive, light-filled open-concept living suite, perfectly designed for entertaining. A gourmet-inspired kitchen, complete with a generous pantry, flows effortlessly into the dining area. For ultimate convenience, the first floor also features a private 1-car garage with expanded storage and a designer powder room. Ascend to the upper level to find a palatial master retreat featuring soaring vaulted ceilings, a spa-like ensuite with an oversized vanity and soaking tub, and a grand walk-in closet. Two additional guest chambers and a dedicated laundry suite complete the interior. Step outside to a private terrace, offering an elegant setting for alfresco dining. For those seeking an effortless transition into the short-term rental market, high-end furnishings are negotiable, offering true turnkey potential. Minutes from premier medical hubs and local amenities—this is the pinnacle of Crestview living.

18. 2026-04-17
    listed $185,000 Active 1354-char remark

    Show marketing remark (1354 chars)

    Experience Refined Living & Investment Excellence in Crestview Discover a rare opportunity to own a sophisticated 3-bedroom, 2.5-bathroom residence in the esteemed Rolling Hills enclave. This meticulously maintained townhome seamlessly blends modern elegance with unparalleled versatility, making it a premier choice for a high-end primary residence or a curated short-term rental portfolio. The main level invites you into an expansive, light-filled open-concept living suite, perfectly designed for entertaining. A gourmet-inspired kitchen, complete with a generous pantry, flows effortlessly into the dining area. For ultimate convenience, the first floor also features a private 1-car garage with expanded storage and a designer powder room. Ascend to the upper level to find a palatial master retreat featuring soaring vaulted ceilings, a spa-like ensuite with an oversized vanity and soaking tub, and a grand walk-in closet. Two additional guest chambers and a dedicated laundry suite complete the interior. Step outside to a private terrace, offering an elegant setting for alfresco dining. For those seeking an effortless transition into the short-term rental market, high-end furnishings are negotiable, offering true turnkey potential. Minutes from premier medical hubs and local amenities—this is the pinnacle of Crestview living.

19. 2026-04-15
    historical
20. 2026-03-16
    listed $185,000 Active
21. 2022-03-14
    soldstatus $161,900
22. 2006-06-28
    soldstatus $127,800

ⓘ 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: $2,569 · $214/mo
• Projected year-2 tax: $2,569 · $214/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 · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,900
• − Mortgage interest: −$10,363
• − Property taxes: −$2,569
• − Insurance: −$925
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − HOA: −$420
• − Depreciation: −$5,382
• Taxable loss: −$2,103
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $1,460/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

+44.8% since first listed

7 events — show timeline

• 2026-04-20 Relisted — PARMLS
• 2026-04-18 Listing Removed — PARMLS
• 2026-04-17 Listed $185,000 PARMLS
• 2026-04-15 Listing Removed — PARMLS
• 2026-03-16 Listed $185,000 PARMLS
• 2022-03-14 Sold (Public Records) $161,900 Public Records
• 2006-06-28 Sold (Public Records) $127,800 Public Records

Property tax history

+9.5%/yr

Latest (2025): $2,569 · -6.3% YoY. Source: county tax records.