117 Roundwood Dr · Laguna Beach, FL 32461

$649,900

3 bd · 3.0 ba · 1,767 sqft · SingleFamily public records · 71 Days on market

Built 2021 4,680 sqft lot Est $696k · 7% under $234/mo HOA · 5% 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).

• ARV discount +10.5/15.0
• Cash flow +7.5/30.0
• Appreciation +7.0/10.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.6/10.0

Listing remarks

Welcome to Watersound Origins ''Coastal Cottage'', where charm & comfort come together. The only 2-story design of its kind in the Stillwater B community, thoughtfully crafted with 2-bdrms on the 1st flr + a 2nd-Master configuration encompassing the entire 2nd flr, offering flexibility & comfort across 3-bedrooms and 3-full baths. Perfectly sized--not too big and not too small, it's just right--featuring a 1-car garage, large, rear screened porch, & a spacious fenced-in backyard. Enjoy the Town Center w/ Publix, Starbucks and the resort-style amenities: pool, fitness center, Lake Powell access, golf, tennis, and miles of scenic walking/biking trails, all just minutes to the

Key facts

• Two-story design
• Lake powell access
• 4,680 sq ft lot

Tags

• TWO-STORY DESIGN
• 2ND-MASTER CONFIGURATION
• LARGE REAR SCREENED PORCH
• SPACIOUS FENCED-IN BACKYARD
• LAKE POWELL ACCESS
• SCENIC WALKING BIKING TRAILS

Property features AI

Finance

• HOA & community: Homeowners association with management; Association fees cover land recreation, recreational facilities and master association services; Community amenities include pool, clubhouse/community room, exercise room, playground, BBQ area, pavilion/gazebo, dock, fishing, golf, and pickleball; Short-term rentals not allowed

Exterior

• Parking: Attached garage (1-car)
• Utilities: Public water; Public sewer; Electric service; Natural gas available; Phone and TV cable
• Home design: Florida Cottage style; 2 stories; Built in 2021; Private road frontage; Interior lot with covenants and restrictions
• Construction: Brick and cement fiberboard siding; Shake roof; County records for building area
• Exterior features: Private yard; Sprinkler system; Screened porch; Community pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Pantry
• Bedrooms: 3 bedrooms total; Primary suite(s) on first and second floors; Primary bedroom with walk-in closet
• Flooring: Vinyl flooring
• Bathrooms: 3 full bathrooms; Primary bathroom with shower (no tub)
• Heating & cooling: Central air conditioning; Ceiling fans; Natural gas heating
• Interior features: Breakfast bar; Crown molding; Recessed lighting; Pantry; Built-in shelving; Window treatments; Unfurnished
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $-811 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $507k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $445k (31.5% below list).
• Recommended offer: $445k (31.5% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 0.9% in Laguna 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 74/100 on livability (#283 in FL, #4,522 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities 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: Dune Lakes Elementary School (math 74% / reading 68%, grade A-, #320 of 2,144 statewide, top 15%, 928 students, 24% FRL); Emerald Coast Middle School (math 70% / reading 65%, grade A-, #77 of 571 statewide, top 14%, 868 students, 24% 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 22% FRL vs 48% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 723 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• This rent runs 37% of the median local income ($146k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $31k of equity ($4k loan paydown + $26k appreciation (4.1% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($611k) 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; 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 $445,295 (31.5% 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 71 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $696,198
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
63 Windrow Way	0.13mi	3/2.0	1,725 (-2%)	0mo	$650,000	$377	86
304 Windrow Way	0.11mi	4/3.5 (+1)	1,832 (+4%)	4mo	$678,000	$370	79
128 Ravine Rd	0.46mi	3/2.0	1,715 (-3%)	1mo	$650,000	$379	69
81 Windrow Way	0.12mi	3/2.0	1,550 (-12%)	1mo	$589,999	$381	69
91 Catface Dr	0.20mi	3/3.0	2,030 (+15%)	1mo	$820,000	$404	65
1545 Pathways Dr	0.38mi	2/2.0 (-1)	1,674 (-5%)	1mo	$651,500	$389	64
253 Windrow Way	0.16mi	3/2.5	2,026 (+15%)	3mo	$715,000	$353	63
1659 Pathways Dr	0.51mi	3/2.0	1,674 (-5%)	1mo	$659,990	$394	63
102 Firefly Way	0.41mi	3/3.0	1,944 (+10%)	3mo	$835,000	$430	62
77 Cannonball Ln Lot (174)	0.49mi	3/3.0	1,950 (+10%)	4mo	$797,000	$409	56
131 Cannonball Ln	0.52mi	3/3.0	1,990 (+13%)	5mo	$850,000	$427	50
1886 Pathways Dr	0.66mi	3/2.0	1,960 (+11%)	3mo	$892,500	$455	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.35×
• Total profit: $63,917
• Equity at exit: $331,896

10-year hold

• IRR: 8.3%
• Equity multiple: 2.41×
• Total profit: $255,940
• Equity at exit: $544,757

Cash invested: $181,972 (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 32461

• Home prices YoY: 1.2%
• Active inventory: 723
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $4,453 high
• Mortgage (P&I): −$3,408
• Tax from tax record: −$416 /mo · $4,987/yr
• Insurance: −$271
• HOA: −$234
• Vacancy / Maint / Mgmt: −$935
• Net cashflow: $-811

Break-even live

Break-even rent $5,479

Max offer price $506,691

Occupancy floor —

Sensitivity live

Price	-10% $-443	-5% $-627	+0% $-811	+5% $-995	+10% $-1,179
Rent	-10% $-1,162	-5% $-987	+0% $-811	+5% $-635	+10% $-459
Rate	-1.0pp $-483	-0.5pp $-645	base $-811	+0.5pp $-979	+1.0pp $-1,150

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 Windrow Way Inlet Beach, FL	4.0	3.5	2352	$5,200	$2.21	23d	1	0.14mi
48 E Lafayette Rd Inlet Beach, FL	3.0	2.0	1700	$3,700	$2.18	15d	1	0.53mi
117 River Rise Way Inlet Beach, FL	2.0	2.0	1952	$4,950	$2.54	15d	1	0.75mi
7 Barbados Ln Inlet Beach, FL	3.0	2.5	1563	$2,900	$1.86	23d	1	1.21mi
7 Barbados Ln Inlet Beach, FL	3.0	2.5	1563	$2,900	$1.86	15d	1	1.21mi
104 Sandpine Loop Inlet Beach, FL	4.0	3.0	1884	$3,400	$1.80	23d	1	1.24mi
122 Sandpine Loop Inlet Beach, FL	4.0	2.5	1934	$3,000	$1.55	23d	1	1.26mi
24 Beach View Dr Unit 1447117P Inlet Beach, FL	4.0	3.0	2303	$4,469	$1.94	23d	1	1.35mi
17 Sunset Key Ct Unit 1447176P Inlet Beach, FL	4.0	3.0	2088	$2,962	$1.42	23d	1	1.37mi
323 Suwannee Dr Inlet Beach, FL	2.0	2.0	1442	$3,500	$2.43	15d	1	1.46mi
323 Suwannee Dr Unit 72A Inlet Beach, FL	2.0	2.0	1442	$4,000	$2.77	23d	1	1.47mi

HOA detail

• Monthly dues: $234 · $2,808/yr
• Likely covers: waterpoolgym

Listing history 21 events

1. 2026-06-21
   days on market $649,900 Active 71 DOM
2. 2026-06-18
   days on market $649,900 Active 68 DOM
3. 2026-06-17
   days on market $649,900 Active 67 DOM
4. 2026-06-16
   days on market $649,900 Active 66 DOM
5. 2026-06-15
   days on market $649,900 Active 65 DOM
6. 2026-06-14
   days on market $649,900 Active 63 DOM
7. 2026-06-13
   days on market $649,900 Active 62 DOM
8. 2026-06-10
   days on market $649,900 Active 60 DOM
9. 2026-06-09
   days on market $649,900 Active 59 DOM
10. 2026-06-08
    days on market $649,900 Active 58 DOM
11. 2026-06-07
    days on market $649,900 Active 57 DOM
12. 2026-06-05
    days on market $649,900 Active 54 DOM
13. 2026-06-03
    days on market $649,900 Active 53 DOM
14. 2026-06-03
    days on market $649,900 Active 52 DOM
15. 2026-06-01
    days on market $649,900 Active 51 DOM
16. 2026-05-31
    days on market $649,900 Active 50 DOM
17. 2026-05-30
    days on market $649,900 Active 49 DOM
18. 2026-04-11
    listed $649,900 Active
19. 2026-04-02
    listed $4,500
20. 2026-04-02
    historical $4,500
21. 2026-02-13
    listed $4,500

ⓘ 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: $4,987 · $416/mo
• Projected year-2 tax: $5,394 · $450/mo
• Expected delta: +$407/yr (+$34/mo · 8.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $53,435
• − Mortgage interest: −$36,405
• − Property taxes: −$4,987
• − Insurance: −$3,250
• − Repairs & maintenance: −$4,275
• − Management: −$4,275
• − HOA: −$2,808
• − Depreciation: −$18,906
• Taxable loss: −$21,469
• Est. tax savings @ 24.0%: +$5,153
• After-tax cash flow: $-4,575/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 — Laguna Beach

• Score: 74/100
• State rank: #283
• US rank: #4522

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Walton County · 70,839 people
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 3,757
• Household income: $145,706
• Rent vs Own: 13.8% rent · 86.2% own
• Severe rent burden: 67.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Slovak 4% Lithuanian 4% Portuguese 3%
• Foreign-born: 8% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▲ 4.06%
• Current HPI: 346.4019
• 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

+14342.2% since first listed

4 events — show timeline

• 2026-04-11 Listed $649,900 ECAR
• 2026-04-02 Listed for Rent $4,500 ECAR
• 2026-04-02 Rental Removed $4,500 ECAR
• 2026-02-13 Listed for Rent $4,500 ECAR

Property tax history

+45.0%/yr

Latest (2025): $4,987 · -5.7% YoY. Source: county tax records.