200 Sandestin Ln #602 · Miramar Beach, FL 32550

$215,000

1 bd · 1.0 ba · 470 sqft · Condo · 524 Days on market

Built 2003 $237/mo HOA · 14% 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 +9.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Location, Location, Location! Great opportunity to own a beautifully decorated, turn key, fully furnished condo that is located in the heart of town. This condo is very versatile, could be used as a vacation rental for extra income, a second home for your family vacations, or a great starter home for a small family. Yes short terms rentals are allowed and has low HOA fees! Comes fully furnished with high quality decor, pots and pans, smart TVs, ect.. Brand new luxury vinyl plank flooring and quartz countertops. New stainless steel appliances and new hot water heater! Well maintained pool and gym located within complex. Too many upgrades to list, Schedule your showing today to see this gem! Easy to show

Key facts

• Low hoa fees
• Quartz countertops
• Fully furnished

Tags

• FULLY FURNISHED
• NEAR SANDESTIN RESORT
• SHORT TERM RENTALS ALLOWED
• LOW HOA FEES
• LUXURY VINYL PLANK FLOORING
• QUARTZ COUNTERTOPS

Property features AI

Finance

• HOA & community: Association membership required; Association includes grounds maintenance, management and trash service; Short-term rentals allowed in the community; Subdivision: Pointe of View T/H Condo

Exterior

• Utilities: Electric service; Public sewer
• Home design: Townhome/Condo in a multi-story building; Unit is on a single story within the unit; Building has 3 total stories; Built in 2003
• Construction: 470 total building area (per county records)
• Exterior features: Community pool

Interior

• Kitchen: Kitchen located on the first floor (approx. 12' x 18'); Pantry (approx. 4' x 9')
• Bedrooms: 1 bedroom (located on the first floor; approx. 10' x 11')
• Bathrooms: 1 full bathroom (located on the first floor)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Window treatments
• Laundry & utility: Community laundry available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (19.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (18.9% below list).
• Recommended offer: $174k (19.2% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 1.1% in Miramar Beach — 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 67/100 on livability (#569 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, employment A-; Watch: health & safety C-, amenities F, commute F.
• Walton (rural): math 62% / reading 61% proficiency, ranked #10 of 73 in FL (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Van R. Butler Elementary School (math 77% / reading 69%, grade A, #271 of 2,144 statewide, top 13%, 1,013 students, 30% FRL); South Walton High School (math 61% / reading 73%, grade B, #69 of 667 statewide, top 11%, 1,235 students, 20% FRL) — zoned schools average 25% FRL vs 48% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 938 active listings in the ZIP; solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $3k appreciation (1.4% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 524 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,796 (19.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 524 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.32%
• DSCR: 0.85
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.90×
• Total profit: $-5,995
• Equity at exit: $78,437

10-year hold

• IRR: 2.9%
• Equity multiple: 1.37×
• Total profit: $22,387
• Equity at exit: $108,250

Cash invested: $60,200 (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 32550

• Home prices YoY: 0.6%
• Active inventory: 938
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,743 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$237
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-233

Break-even live

Break-even rent $2,039

Max offer price $173,796

Occupancy floor —

Sensitivity live

Price	-10% $-112	-5% $-172	+0% $-233	+5% $-294	+10% $-355
Rent	-10% $-371	-5% $-302	+0% $-233	+5% $-164	+10% $-96
Rate	-1.0pp $-125	-0.5pp $-179	base $-233	+0.5pp $-289	+1.0pp $-346

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $237 · $2,844/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $215,000 Active 524 DOM
2. 2026-06-17
   days on market $215,000 Active 523 DOM
3. 2026-06-16
   days on market $215,000 Active 522 DOM
4. 2026-06-15
   days on market $215,000 Active 521 DOM
5. 2026-06-14
   days on market $215,000 Active 519 DOM
6. 2026-06-13
   days on market $215,000 Active 518 DOM
7. 2026-06-10
   days on market $215,000 Active 516 DOM
8. 2026-06-09
   days on market $215,000 Active 515 DOM
9. 2026-06-08
   days on market $215,000 Active 514 DOM
10. 2026-06-07
    days on market $215,000 Active 513 DOM
11. 2026-06-05
    days on market $215,000 Active 510 DOM
12. 2026-06-03
    days on market $215,000 Active 509 DOM
13. 2026-06-03
    days on market $215,000 Active 508 DOM
14. 2026-06-01
    days on market $215,000 Active 507 DOM
15. 2026-05-31
    days on market $215,000 Active 506 DOM
16. 2026-05-30
    days on market $215,000 Active 505 DOM
17. 2026-05-01
    price $215,000
18. 2026-01-11
    status Active
19. 2025-01-10
    listed $219,000 Active
20. 2024-12-22
    historical $1,900
21. 2024-12-06
    listed $1,900
22. 2023-08-29
    soldstatus $204,900
23. 2023-08-28
    soldstatus $204,900 Sold 712-char remark

    Show marketing remark (712 chars)

    Location, Location, Location! Great opportunity to own a beautifully decorated, turn key, fully furnished condo that is located in the heart of town. This condo is very versatile, could be used as a vacation rental for extra income, a second home for your family vacations, or a great starter home for a small family. Yes short terms rentals are allowed and has low HOA fees! Comes fully furnished with high quality decor, pots and pans, smart TVs, ect.. Brand new luxury vinyl plank flooring and quartz countertops. New stainless steel appliances and new hot water heater! Well maintained pool and gym located within complex. Too many upgrades to list, Schedule your showing today to see this gem! Easy to show

24. 2023-08-09
    listed $204,900 Active 712-char remark

    Show marketing remark (712 chars)

    Location, Location, Location! Great opportunity to own a beautifully decorated, turn key, fully furnished condo that is located in the heart of town. This condo is very versatile, could be used as a vacation rental for extra income, a second home for your family vacations, or a great starter home for a small family. Yes short terms rentals are allowed and has low HOA fees! Comes fully furnished with high quality decor, pots and pans, smart TVs, ect.. Brand new luxury vinyl plank flooring and quartz countertops. New stainless steel appliances and new hot water heater! Well maintained pool and gym located within complex. Too many upgrades to list, Schedule your showing today to see this gem! Easy to show

25. 2022-01-11
    soldstatus $135,000 275-char remark

    Show marketing remark (275 chars)

    This 1 bdrm/1bth would make a great investment property or a vacation getaway. This unit is a ground floor unit, close to the Beaches and Bay. The property is walking distance to the Grande Blvd as well as Baytowne. Unit comes with all Appliances, Coin operated Laundry room.

26. 2022-01-11
    soldstatus $135,000 Sold 275-char remark

    Show marketing remark (275 chars)

    This 1 bdrm/1bth would make a great investment property or a vacation getaway. This unit is a ground floor unit, close to the Beaches and Bay. The property is walking distance to the Grande Blvd as well as Baytowne. Unit comes with all Appliances, Coin operated Laundry room.

27. 2021-12-21
    status Pending 275-char remark

    Show marketing remark (275 chars)

    This 1 bdrm/1bth would make a great investment property or a vacation getaway. This unit is a ground floor unit, close to the Beaches and Bay. The property is walking distance to the Grande Blvd as well as Baytowne. Unit comes with all Appliances, Coin operated Laundry room.

28. 2021-11-05
    listed $149,000 Active 275-char remark

    Show marketing remark (275 chars)

    This 1 bdrm/1bth would make a great investment property or a vacation getaway. This unit is a ground floor unit, close to the Beaches and Bay. The property is walking distance to the Grande Blvd as well as Baytowne. Unit comes with all Appliances, Coin operated Laundry room.

29. 2021-11-04
    listed $149,000 275-char remark

    Show marketing remark (275 chars)

    This 1 bdrm/1bth would make a great investment property or a vacation getaway. This unit is a ground floor unit, close to the Beaches and Bay. The property is walking distance to the Grande Blvd as well as Baytowne. Unit comes with all Appliances, Coin operated Laundry room.

30. 2006-08-01
    listed $155,000
31. 2005-06-21
    soldstatus $135,360
32. 2004-01-09
    soldstatus $66,500
33. 2004-01-05
    soldstatus $66,500
34. 2003-11-21
    listed $66,500

ⓘ 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: $1,079 · $90/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$705/yr (+$59/mo · 65.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,920
• − Mortgage interest: −$12,043
• − Property taxes: −$1,079
• − Insurance: −$1,872
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$2,844
• − Depreciation: −$6,255
• Taxable loss: −$6,521
• Est. tax savings @ 24.0%: +$1,565
• After-tax cash flow: $-1,234/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: Walton
• NCES district ID: 1201980
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $46,794
• Composite: 52.03/100
• National rank: #1634
• State rank: #10 of 73 in FL

Livability — Miramar Beach

• Score: 67/100
• State rank: #569
• US rank: #10855

Category grades

Amenities F Commute F Cost of living F 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: Miramar Beach, FL
• County: Walton County · 70,839 people
• City population: 8,486
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 8,486
• Household income: $101,250
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 77.0

Population outlook (Walton County) Hauer SSP2

• Today (2025): 80,014 people
• By 2030: 88,120 · +10.1%
• By 2040: 103,537 · +29.4%
• By 2050: 117,034 · +46.3%
• By 2075: 143,901 · +79.8%
• By 2100: 155,138 · +93.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4% Black 2%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 3%
• Foreign-born: 12% · Canada
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 4% Other Indo-European 1%

Political lean MEDSL · Walton

• 2024 margin: Solid R (+57.8) · D 20.7% · R 78.6%
• 2008→2024 swing: -12.0pp toward R · 2008: -45.8pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+51.7 2016: R+56.1 2012: R+52.0 2008: R+45.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 247.7567
• Rent YoY: —
• 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

+223.3% since first listed

18 events — show timeline

• 2026-05-01 Price Changed $215,000 ECAR
• 2026-01-11 Relisted — ECAR
• 2025-01-10 Listed $219,000 ECAR
• 2024-12-22 Rental Removed $1,900 Avail
• 2024-12-06 Listed for Rent $1,900 Avail
• 2023-08-29 Sold (Public Records) $204,900 Public Records
• 2023-08-28 Sold (MLS) $204,900 ECAR
• 2023-08-09 Listed $204,900 ECAR
• 2022-01-11 Sold (MLS) $135,000 ECAR
• 2022-01-11 Sold (MLS) $135,000 NAMLS
• 2021-12-21 Pending — ECAR
• 2021-11-05 Listed $149,000 ECAR
• 2021-11-04 Listed $149,000 NAMLS
• 2006-08-01 Listed $155,000 ECAR
• 2005-06-21 Sold (Public Records) $135,360 Public Records
• 2004-01-09 Sold (Public Records) $66,500 Public Records
• 2004-01-05 Sold (MLS) $66,500 ECAR
• 2003-11-21 Listed $66,500 ECAR

Property tax history

+13.0%/yr

Latest (2025): $1,079 · -1.1% YoY. Source: county tax records.