4696 Bobolink Way · Crestview, FL 32539

$190,000

3 bd · 2.0 ba · 1,329 sqft · SingleFamily public records · 104 Days on market

Built 2007 10,720 sqft lot $143/sqft · 23% below area Est $247k · 23% under

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Why this score? — see what drove the C+ 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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• 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 MLS

Short Sale. Well-maintained single-family home located in the established Triple Lakes Estates community of Crestview. This 3-bedroom, 2-bath residence offers approximately 1,879 total square feet with a functional single-story layout. The home features a brick exterior, central heating and air conditioning, and durable laminate and wood flooring throughout. Situated on a quarter-acre lot, the property provides ample outdoor space while remaining easy to maintain. Conveniently located with access to major roadways, shopping, dining, and local amenities. Ideal for primary residence or investment opportunity.

Key facts

• Brick exterior
• Outdoor space
• Quarter-acre lot

Tags

• TRIPLE LAKES ESTATES COMMUNITY
• BRICK EXTERIOR
• LAMINATE AND WOOD FLOORING
• QUARTER-ACRE LOT
• OUTDOOR SPACE
• ACCESS TO MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• Market conditions: Rents flat; 521 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 32% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 104 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 18y ago; this cycle's ask has dropped $60k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.03% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.08%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (median comp): $247,496
• List price: $190,000
• Delta: -23.23%
• 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
5154 Rosebud Ave	0.17mi	3/2.0	1,386 (+4%)	7mo	$240,000	$173	79
4643 Eagle Way	0.50mi	3/2.0	1,302 (-2%)	1mo	$195,000	$150	73
5047 Poinsetta Ave	0.52mi	3/2.0	1,354 (+2%)	1mo	$245,000	$181	72
4704 CANARY Way	0.08mi	3/2.0	1,183 (-11%)	12mo	$185,000	$156	68
4620 Eagle Way	0.62mi	3/2.0	1,329 (0%)	6mo	$233,000	$175	66
4618 Eagle Way	0.62mi	3/2.0	1,355 (+2%)	4mo	$240,000	$177	64
4645 Dove Way	0.46mi	3/2.0	1,428 (+7%)	5mo	$257,630	$180	62
4701 Falcon Way	0.33mi	3/2.0	1,507 (+13%)	3mo	$235,000	$156	60
4643 Falcon Way	0.57mi	3/2.0	1,210 (-9%)	9mo	$250,000	$207	51
4645 Eagle Way	0.48mi	3/2.0	1,183 (-11%)	16mo	$232,000	$196	46
4613 Bobolink Way	0.68mi	3/2.0	1,492 (+12%)	17mo	$269,900	$181	33
4605 Bobolink Way	0.74mi	4/2.0 (+1)	1,477 (+11%)	22mo	$290,000	$196	24

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: -8.6%
• Equity multiple: 0.69×
• Total profit: $-16,335
• Equity at exit: $28,330

10-year hold

• IRR: -3.2%
• Equity multiple: 0.81×
• Total profit: $-9,962
• Equity at exit: $16,428

Cash invested: $53,200 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,963 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$161 /mo · $1,936/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $314

Break-even live

Break-even rent $1,566

Max offer price $190,000

Occupancy floor 79%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5654 Falcon Way Crestview, FL	2.0	1.0	966	$1,560	$1.61	44d	1	0.43mi
4624 Dove Way Crestview, FL	3.0	2.0	1369	$2,100	$1.53	13d	1	0.57mi
5237 Kervin Rd Crestview, FL	3.0	2.0	1563	$1,746	$1.12	44d	1	0.68mi
5312 Kervin Rd Crestview, FL	3.0	2.0	1210	$1,750	$1.45	13d	1	1.07mi

Listing history 48 events

1. 2026-06-18
   days on market $190,000 Active 104 DOM
2. 2026-06-17
   days on market $190,000 Active 103 DOM
3. 2026-06-16
   days on market $190,000 Active 102 DOM
4. 2026-06-15
   days on market $190,000 Active 101 DOM
5. 2026-06-14
   days on market $190,000 Active 99 DOM
6. 2026-06-13
   days on market $190,000 Active 98 DOM
7. 2026-06-10
   days on market $190,000 Active 96 DOM
8. 2026-06-09
   days on market $190,000 Active 95 DOM
9. 2026-06-08
   days on market $190,000 Active 94 DOM
10. 2026-06-07
    days on market $190,000 Active 93 DOM
11. 2026-06-05
    days on market $190,000 Active 90 DOM
12. 2026-06-02
    days on market $190,000 Active 88 DOM
13. 2026-06-01
    days on market $190,000 Active 87 DOM
14. 2026-05-31
    days on market $190,000 Active 86 DOM
15. 2026-05-30
    days on market $190,000 Active 85 DOM
16. 2026-05-14
    price $205,000 614-char remark

    Show marketing remark (614 chars)

    Short Sale. Well-maintained single-family home located in the established Triple Lakes Estates community of Crestview. This 3-bedroom, 2-bath residence offers approximately 1,879 total square feet with a functional single-story layout. The home features a brick exterior, central heating and air conditioning, and durable laminate and wood flooring throughout. Situated on a quarter-acre lot, the property provides ample outdoor space while remaining easy to maintain. Conveniently located with access to major roadways, shopping, dining, and local amenities. Ideal for primary residence or investment opportunity.

17. 2026-04-21
    price $220,000 614-char remark

    Show marketing remark (614 chars)

    Short Sale. Well-maintained single-family home located in the established Triple Lakes Estates community of Crestview. This 3-bedroom, 2-bath residence offers approximately 1,879 total square feet with a functional single-story layout. The home features a brick exterior, central heating and air conditioning, and durable laminate and wood flooring throughout. Situated on a quarter-acre lot, the property provides ample outdoor space while remaining easy to maintain. Conveniently located with access to major roadways, shopping, dining, and local amenities. Ideal for primary residence or investment opportunity.

18. 2026-04-02
    price $230,000 614-char remark

    Show marketing remark (614 chars)

    Short Sale. Well-maintained single-family home located in the established Triple Lakes Estates community of Crestview. This 3-bedroom, 2-bath residence offers approximately 1,879 total square feet with a functional single-story layout. The home features a brick exterior, central heating and air conditioning, and durable laminate and wood flooring throughout. Situated on a quarter-acre lot, the property provides ample outdoor space while remaining easy to maintain. Conveniently located with access to major roadways, shopping, dining, and local amenities. Ideal for primary residence or investment opportunity.

19. 2026-03-06
    listed $250,000 Active 614-char remark

    Show marketing remark (614 chars)

    Short Sale. Well-maintained single-family home located in the established Triple Lakes Estates community of Crestview. This 3-bedroom, 2-bath residence offers approximately 1,879 total square feet with a functional single-story layout. The home features a brick exterior, central heating and air conditioning, and durable laminate and wood flooring throughout. Situated on a quarter-acre lot, the property provides ample outdoor space while remaining easy to maintain. Conveniently located with access to major roadways, shopping, dining, and local amenities. Ideal for primary residence or investment opportunity.

20. 2025-05-23
    price $249,000
21. 2025-04-01
    price $259,000
22. 2025-01-31
    price $264,500
23. 2024-12-18
    listed $265,000 Active
24. 2023-01-11
    soldstatus $235,000
25. 2023-01-06
    soldstatus $235,000 Sold
26. 2023-01-06
    soldstatus $235,000 Sold
27. 2022-12-02
    status Pending
28. 2022-12-02
    status Pending
29. 2022-11-16
    listed $235,000 Active
30. 2022-11-16
    listed $235,000 Active
31. 2020-02-28
    soldstatus $159,900
32. 2020-02-24
    soldstatus $159,900
33. 2020-02-24
    soldstatus $159,900 Sold
34. 2020-01-08
    listed $159,900
35. 2017-05-19
    soldstatus $128,000
36. 2017-05-19
    soldstatus $128,000
37. 2017-02-18
    listed $134,500
38. 2012-05-17
    soldstatus $1,151,200
39. 2012-01-23
    soldstatus $101,100
40. 2012-01-06
    historical
41. 2011-07-07
    listed $104,900
42. 2011-07-07
    listed $104,900
43. 2011-05-25
    historical
44. 2009-08-27
    listed $124,900
45. 2009-08-27
    listed $124,900
46. 2008-07-31
    historical
47. 2008-02-18
    listed $136,500
48. 2008-02-18
    listed $136,500

ⓘ 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: $1,936 · $161/mo
• Projected year-2 tax: $1,936 · $161/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 21 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: $23,558
• − Mortgage interest: −$10,643
• − Property taxes: −$1,936
• − Insurance: −$950
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − Depreciation: −$5,527
• Taxable income: $732
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $3,592/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

• 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

+50.2% since first listed

33 events — show timeline

• 2026-05-14 Price Changed $205,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $220,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $230,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Listed $250,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-23 Price Changed $249,000 ECAR
• 2025-04-01 Price Changed $259,000 ECAR
• 2025-01-31 Price Changed $264,500 ECAR
• 2024-12-18 Listed $265,000 ECAR
• 2023-01-11 Sold (Public Records) $235,000 Public Records
• 2023-01-06 Sold (MLS) $235,000 NAMLS
• 2023-01-06 Sold (MLS) $235,000 ECAR
• 2022-12-02 Pending — ECAR
• 2022-12-02 Pending — NAMLS
• 2022-11-16 Listed $235,000 ECAR
• 2022-11-16 Listed $235,000 NAMLS
• 2020-02-28 Sold (Public Records) $159,900 Public Records
• 2020-02-24 Sold (MLS) $159,900 ECAR
• 2020-02-24 Sold (MLS) $159,900 NAMLS
• 2020-01-08 Listed $159,900 NAMLS
• 2017-05-19 Sold (MLS) $128,000 ECAR
• 2017-05-19 Sold (MLS) $128,000 NAMLS
• 2017-02-18 Listed $134,500 NAMLS
• 2012-05-17 Sold (Public Records) $1,151,200 Public Records
• 2012-01-23 Sold (Public Records) $101,100 Public Records
• 2012-01-06 Listing Removed — NAMLS
• 2011-07-07 Listed $104,900 NAMLS
• 2011-07-07 Listed $104,900 ECAR
• 2011-05-25 Listing Removed — NAMLS
• 2009-08-27 Listed $124,900 NAMLS
• 2009-08-27 Listed $124,900 ECAR
• 2008-07-31 Listing Removed — NAMLS
• 2008-02-18 Listed $136,500 NAMLS
• 2008-02-18 Listed $136,500 ECAR

Property tax history

+9.0%/yr

Latest (2025): $1,936 · +1.8% YoY. Source: county tax records.