401-409 Brock East Ave · Crestview, FL 32539

$150,000

3 bd · 1.0 ba · 724 sqft · SingleFamily public records · 354 Days on market

Built 1949 6,969 sqft lot $207/sqft · 19% above area Est $245k · 39% 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.2/10.0
• 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

INVESTORS DREAM, CALLING ON ALL LOCAL INVESTORS * * 2 small homes on one lot. the first on is 401 Brock, 724 sf cooled, 3 bdrm/1 bath. 409 - 680 sf cooled, 1 bdrm/1 bath. 409 has been re-roofed with metal in 2019. The home on 401 is being rented month by month for $600/month and 409 is vacant. Good resale if both homes get flipped. .. .. ITS A 2 FER!!

Key facts

• Re-roofed with metal
• 6,969 sq ft lot
• Built 1949

Tags

• RE-ROOFED WITH METAL

🏷️ Possibly a rental listed for sale. The $150,000 price doesn't fit this home's estimated sale value (~$244,850) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/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: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 526 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $4k 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 354 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $14k; list at $150k implies a 971% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 354 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.12% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.59%
• DSCR: 1.47
• GRM: 7.5

CMA / ARV

• ARV (median comp): $244,850
• List price: $150,000
• Delta: -38.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 E Chestnut Ave	0.69mi	2/1.0 (-1)	730 (+1%)	15mo	$65,000	$89	49
299 Carl Pl	0.69mi	2/1.0 (-1)	618 (-15%)	11mo	$97,000	$157	29

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-5,431
• Equity at exit: $22,365

10-year hold

• IRR: 2.8%
• Equity multiple: 1.17×
• Total profit: $7,310
• Equity at exit: $12,969

Cash invested: $42,000 (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: 526
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,674 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$102 /mo · $1,227/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $371

Break-even live

Break-even rent $1,204

Max offer price $150,000

Occupancy floor 73%

Sensitivity live

Price	-10% $456	-5% $413	+0% $371	+5% $328	+10% $286
Rent	-10% $239	-5% $305	+0% $371	+5% $437	+10% $503
Rate	-1.0pp $446	-0.5pp $409	base $371	+0.5pp $332	+1.0pp $292

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

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
475 Aplin Rd Crestview, FL	1.0–2.0	1.0–2.0	764	$999	$1.31	45d	5	0.46mi
650 Blakely Ave Crestview, FL	2.0	1.0	648	$1,000	$1.54	15d	1	0.78mi

Listing history 15 events

1. 2026-06-09
   days on market $150,000 Active 354 DOM
2. 2026-06-08
   days on market $150,000 Active 353 DOM
3. 2026-06-07
   days on market $150,000 Active 352 DOM
4. 2026-06-05
   days on market $150,000 Active 349 DOM
5. 2026-06-02
   days on market $150,000 Active 347 DOM
6. 2026-06-01
   days on market $150,000 Active 346 DOM
7. 2026-05-31
   days on market $150,000 Active 345 DOM
8. 2026-05-30
   days on market $150,000 Active 344 DOM
9. 2025-12-09
   status Active 358-char remark

   Show marketing remark (358 chars)

   INVESTORS DREAM, CALLING ON ALL LOCAL INVESTORS * * 2 small homes on one lot. the first on is 401 Brock, 724 sf cooled, 3 bdrm/1 bath. 409 - 680 sf cooled, 1 bdrm/1 bath. 409 has been re-roofed with metal in 2019. The home on 401 is being rented month by month for $600/month and 409 is vacant. Good resale if both homes get flipped. .. .. ITS A 2 FER!!

10. 2025-10-21
    status Active 358-char remark

    Show marketing remark (358 chars)

    INVESTORS DREAM, CALLING ON ALL LOCAL INVESTORS * * 2 small homes on one lot. the first on is 401 Brock, 724 sf cooled, 3 bdrm/1 bath. 409 - 680 sf cooled, 1 bdrm/1 bath. 409 has been re-roofed with metal in 2019. The home on 401 is being rented month by month for $600/month and 409 is vacant. Good resale if both homes get flipped. .. .. ITS A 2 FER!!

11. 2025-10-09
    status Pending 358-char remark

    Show marketing remark (358 chars)

    INVESTORS DREAM, CALLING ON ALL LOCAL INVESTORS * * 2 small homes on one lot. the first on is 401 Brock, 724 sf cooled, 3 bdrm/1 bath. 409 - 680 sf cooled, 1 bdrm/1 bath. 409 has been re-roofed with metal in 2019. The home on 401 is being rented month by month for $600/month and 409 is vacant. Good resale if both homes get flipped. .. .. ITS A 2 FER!!

12. 2025-06-08
    price $150,000 358-char remark

    Show marketing remark (358 chars)

    INVESTORS DREAM, CALLING ON ALL LOCAL INVESTORS * * 2 small homes on one lot. the first on is 401 Brock, 724 sf cooled, 3 bdrm/1 bath. 409 - 680 sf cooled, 1 bdrm/1 bath. 409 has been re-roofed with metal in 2019. The home on 401 is being rented month by month for $600/month and 409 is vacant. Good resale if both homes get flipped. .. .. ITS A 2 FER!!

13. 2025-06-08
    listed $130,000 Active 358-char remark

    Show marketing remark (358 chars)

    INVESTORS DREAM, CALLING ON ALL LOCAL INVESTORS * * 2 small homes on one lot. the first on is 401 Brock, 724 sf cooled, 3 bdrm/1 bath. 409 - 680 sf cooled, 1 bdrm/1 bath. 409 has been re-roofed with metal in 2019. The home on 401 is being rented month by month for $600/month and 409 is vacant. Good resale if both homes get flipped. .. .. ITS A 2 FER!!

14. 1983-03-01
    soldstatus $14,000
15. 1981-01-01
    soldstatus $7,500

ⓘ 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: $1,227 · $102/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$18/yr (+$2/mo · 1.5%)

ⓘ 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 2/10 Low
• 🌡 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: $20,084
• − Mortgage interest: −$8,402
• − Property taxes: −$1,227
• − Insurance: −$750
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$4,364
• Taxable income: $2,127
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $3,939/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

+1900.0% since first listed

7 events — show timeline

• 2025-12-09 Relisted — ECAR
• 2025-10-21 Relisted — ECAR
• 2025-10-09 Pending — ECAR
• 2025-06-08 Price Changed $150,000 ECAR
• 2025-06-08 Listed $130,000 ECAR
• 1983-03-01 Sold (Public Records) $14,000 Public Records
• 1981-01-01 Sold (Public Records) $7,500 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,227 · +15.5% YoY. Source: county tax records.