10 Overstreet Dr · Mary Esther, FL 32569

$305,000

4 bd · 2.0 ba · 1,270 sqft · SingleFamily public records · 64 Days on market

Built 1962 8,712 sqft lot $240/sqft · at area comps Est $293k · at est.

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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 +13.8/30.0
• ARV discount +5.6/15.0
• Schools +5.2/10.0
• Livability +4.5/5.0
• DSCR +4.2/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside to discover a bright and inviting interior featuring an open layout, fresh finishes, and abundant natural light. The spacious living area flows seamlessly into the dining space and kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers ample cabinetry and workspace, perfect for home chefs and gatherings alike. The home boasts comfortable bedrooms, including a generously sized primary suite, along with well-appointed bathrooms designed for functionality and style. Outside, enjoy a private backyard with plenty of room to relax, garden, or entertain.

Key facts

• Ample cabinetry
• Private backyard
• Open layout

Tags

• OPEN LAYOUT
• AMPLE CABINETRY
• PRIVATE BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $30 ($365/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 $237k (22.3% below list).
• Recommended offer: $237k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.8% in Mary Esther — 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 89/100 on livability (#2 in FL, #137 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+.
• 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 soft (-0.5%/yr); 175 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 37% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $9k 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 64 days — a 6% lower offer ($287k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $45k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; list at $305k implies a 56% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,101 (22.3% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (median comp): $292,703
• List price: $305,000
• Delta: 4.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Pryor Dr Dr	0.16mi	3/2.0 (-1)	1,333 (+5%)	6mo	$365,000	$274	75
251 Gregory Dr	0.42mi	4/2.0	1,310 (+3%)	3mo	$325,000	$248	73
58 North St	0.24mi	3/2.0 (-1)	1,345 (+6%)	3mo	$380,000	$283	71
230 Lee Dr	0.39mi	3/2.0 (-1)	1,328 (+5%)	1mo	$309,900	$233	69
260 Gregory Dr	0.45mi	3/2.0 (-1)	1,250 (-2%)	6mo	$263,000	$210	67
221 Destin Dr	0.51mi	3/1.5 (-1)	1,288 (+1%)	5mo	$289,900	$225	63
240 W W Lorraine Dr Dr	0.34mi	4/2.0	1,460 (+15%)	9mo	$385,000	$264	51
4 Winfield Way	0.32mi	3/2.0 (-1)	1,403 (+10%)	14mo	$299,000	$213	51
200 S Lorraine Dr	0.48mi	3/2.0 (-1)	1,184 (-7%)	14mo	$265,000	$224	50
270 Gregory Dr	0.45mi	3/2.0 (-1)	1,396 (+10%)	11mo	$290,000	$208	48
290 Anderson Dr	0.61mi	3/2.0 (-1)	1,375 (+8%)	8mo	$280,000	$204	46
121 Anderson Dr	0.56mi	3/1.5 (-1)	1,398 (+10%)	6mo	$207,500	$148	45

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.36×
• Total profit: $-54,560
• Equity at exit: $45,476

10-year hold

• IRR: -17.6%
• Equity multiple: 0.15×
• Total profit: $-72,384
• Equity at exit: $26,371

Cash invested: $85,400 (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 32569

• Home prices YoY: -26.5%
• Rents YoY: -0.5%
• Active inventory: 175
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,371 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$116 /mo · $1,393/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $30

Break-even live

Break-even rent $2,332

Max offer price $305,000

Occupancy floor 94%

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
280 Anderson Dr Mary Esther, FL	3.0	1.0	1066	$1,695	$1.59	43d	1	0.62mi
470 Brian Cir Mary Esther, FL	3.0	2.0	1875	$2,800	$1.49	43d	1	1.13mi
223 Ajax Dr NW Fort Walton Beach, FL	3.0	2.0	1196	$1,650	$1.38	13d	1	1.25mi
223 Ajax Dr NW Fort Walton Beach, FL	3.0	2.0	1196	$1,750	$1.46	43d	1	1.25mi
200 Page Bacon Rd Mary Esther, FL	1.0–3.0	1.0–2.0	1030	$2,588	$2.51	13d	18	1.26mi

Listing history 29 events

1. 2026-06-18
   days on market $305,000 Active 64 DOM
2. 2026-06-17
   days on market $305,000 Active 63 DOM
3. 2026-06-16
   days on market $305,000 Active 62 DOM
4. 2026-06-15
   days on market $305,000 Active 61 DOM
5. 2026-06-14
   days on market $305,000 Active 59 DOM
6. 2026-06-13
   days on market $305,000 Active 58 DOM
7. 2026-06-10
   days on market $305,000 Active 56 DOM
8. 2026-06-09
   days on market $305,000 Active 55 DOM
9. 2026-06-08
   days on market $305,000 Active 54 DOM
10. 2026-06-07
    days on market $305,000 Active 53 DOM
11. 2026-06-05
    days on market $305,000 Active 50 DOM
12. 2026-06-02
    pricedays on market $305,000 Active 48 DOM
13. 2026-06-01
    days on market $315,000 Active 47 DOM
14. 2026-05-31
    days on market $315,000 Active 46 DOM
15. 2026-05-30
    days on market $315,000 Active 45 DOM
16. 2026-05-14
    price $315,000 605-char remark

    Show marketing remark (605 chars)

    Step inside to discover a bright and inviting interior featuring an open layout, fresh finishes, and abundant natural light. The spacious living area flows seamlessly into the dining space and kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers ample cabinetry and workspace, perfect for home chefs and gatherings alike. The home boasts comfortable bedrooms, including a generously sized primary suite, along with well-appointed bathrooms designed for functionality and style. Outside, enjoy a private backyard with plenty of room to relax, garden, or entertain.

17. 2026-04-24
    price $325,000 605-char remark

    Show marketing remark (605 chars)

    Step inside to discover a bright and inviting interior featuring an open layout, fresh finishes, and abundant natural light. The spacious living area flows seamlessly into the dining space and kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers ample cabinetry and workspace, perfect for home chefs and gatherings alike. The home boasts comfortable bedrooms, including a generously sized primary suite, along with well-appointed bathrooms designed for functionality and style. Outside, enjoy a private backyard with plenty of room to relax, garden, or entertain.

18. 2026-04-15
    listed $350,000 Active 605-char remark

    Show marketing remark (605 chars)

    Step inside to discover a bright and inviting interior featuring an open layout, fresh finishes, and abundant natural light. The spacious living area flows seamlessly into the dining space and kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers ample cabinetry and workspace, perfect for home chefs and gatherings alike. The home boasts comfortable bedrooms, including a generously sized primary suite, along with well-appointed bathrooms designed for functionality and style. Outside, enjoy a private backyard with plenty of room to relax, garden, or entertain.

19. 2019-01-07
    soldstatus $195,000
20. 2018-12-28
    soldstatus $195,000 931-char remark

    Show marketing remark (931 chars)

    Amazing completely remodeled home!!Minutes to Hulbert and the white beautiful beaches. This home is located on a large corner lot with fenced in yard. It features an open floor plan, split bedroom layout, new kitchen including granite counters, new cabinets and appliances. This home is truly move-in ready with new roof, new luxury vinyl flooring, new siding, new tankless gas hot water heater, new air conditioning and heating unit inside and out, new bathrooms, new recessed lighting throughout, new ceiling fans, new doors , new porches front and back, new electrical fixtures and outlets and much more. Home has been completely remodeled. The following items are new: Roof, Flooring Luxury Laminate, Kitchen Cabinets, Appliances, granite counter tops, HVAC unit inside and out, Tankless gas hot water heater, all new doors, electrical panels inside and out ,new outlets, recessed lighting, fixtures, vanities, toilets, siding

21. 2018-12-28
    soldstatus $195,000 931-char remark

    Show marketing remark (931 chars)

    Amazing completely remodeled home!!Minutes to Hulbert and the white beautiful beaches. This home is located on a large corner lot with fenced in yard. It features an open floor plan, split bedroom layout, new kitchen including granite counters, new cabinets and appliances. This home is truly move-in ready with new roof, new luxury vinyl flooring, new siding, new tankless gas hot water heater, new air conditioning and heating unit inside and out, new bathrooms, new recessed lighting throughout, new ceiling fans, new doors , new porches front and back, new electrical fixtures and outlets and much more. Home has been completely remodeled. The following items are new: Roof, Flooring Luxury Laminate, Kitchen Cabinets, Appliances, granite counter tops, HVAC unit inside and out, Tankless gas hot water heater, all new doors, electrical panels inside and out ,new outlets, recessed lighting, fixtures, vanities, toilets, siding

22. 2018-11-11
    listed $185,000 931-char remark

    Show marketing remark (931 chars)

    Amazing completely remodeled home!!Minutes to Hulbert and the white beautiful beaches. This home is located on a large corner lot with fenced in yard. It features an open floor plan, split bedroom layout, new kitchen including granite counters, new cabinets and appliances. This home is truly move-in ready with new roof, new luxury vinyl flooring, new siding, new tankless gas hot water heater, new air conditioning and heating unit inside and out, new bathrooms, new recessed lighting throughout, new ceiling fans, new doors , new porches front and back, new electrical fixtures and outlets and much more. Home has been completely remodeled. The following items are new: Roof, Flooring Luxury Laminate, Kitchen Cabinets, Appliances, granite counter tops, HVAC unit inside and out, Tankless gas hot water heater, all new doors, electrical panels inside and out ,new outlets, recessed lighting, fixtures, vanities, toilets, siding

23. 2018-07-17
    soldstatus $82,000
24. 2005-03-07
    soldstatus $116,700
25. 2005-03-03
    soldstatus $116,620
26. 2005-03-03
    soldstatus $116,620
27. 2005-02-01
    listed $125,000
28. 2005-02-01
    listed $125,000
29. 1977-01-01
    soldstatus $9,083

ⓘ 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: $1,393 · $116/mo
• Projected year-2 tax: $2,532 · $211/mo
• Expected delta: +$1,138/yr (+$95/mo · 81.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,452
• − Mortgage interest: −$17,085
• − Property taxes: −$1,393
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,276
• − Management: −$2,276
• − Depreciation: −$8,873
• Taxable loss: −$4,976
• Est. tax savings @ 24.0%: +$1,194
• After-tax cash flow: $1,560/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 — Mary Esther

• Score: 89/100
• State rank: #2
• US rank: #137

Category grades

Amenities C+ Commute A+ Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mary Esther, FL
• County: Okaloosa County · 194,352 people
• City population: 12,063
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 12,063
• Household income: $77,718
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 416.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 63% Two or more races 12% Black 12% Hispanic / Latino 9% Asian 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 4% Spanish 3% Tagalog/Filipino 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: ▼ -97.13%
• Current HPI: 269.266
• Rent YoY: ▼ -0.45%
• 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

+3368.0% since first listed

14 events — show timeline

• 2026-05-14 Price Changed $315,000 ECAR
• 2026-04-24 Price Changed $325,000 ECAR
• 2026-04-15 Listed $350,000 ECAR
• 2019-01-07 Sold (Public Records) $195,000 Public Records
• 2018-12-28 Sold (MLS) $195,000 NAMLS
• 2018-12-28 Sold (MLS) $195,000 ECAR
• 2018-11-11 Listed $185,000 NAMLS
• 2018-07-17 Sold (Public Records) $82,000 Public Records
• 2005-03-07 Sold (Public Records) $116,700 Public Records
• 2005-03-03 Sold (MLS) $116,620 NAMLS
• 2005-03-03 Sold (MLS) $116,620 ECAR
• 2005-02-01 Listed $125,000 NAMLS
• 2005-02-01 Listed $125,000 ECAR
• 1977-01-01 Sold (Public Records) $9,083 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,393 · +3.8% YoY. Source: county tax records.