91 Catamaran Ln · Lake Lorraine, FL 32579

$219,900

2 bd · 2.0 ba · 1,184 sqft · Townhouse public records · 47 Days on market

Built 1983 3,920 sqft lot $186/sqft · 8% below area Est $239k · 8% 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 +17.4/30.0
• ARV discount +11.1/15.0
• DSCR +5.4/10.0
• Schools +5.2/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated Port dixie Patio home! This home is freshly painted and updated in all areas! Hard surface flooring flows throughout making it for easy living! The two tone cabinets are just STUNNING! Enjoy entertaining with the full open concept! Plenty of room for a gorgeous dining space, large living space furniture, and more! Take a step out back to the beautiful oversized deck and perfect for entertaining! Still allowing for yard space to enjoy! It really has it all! Buyer to verify all information important to buyer including but not limited to square footage, room size, lot size, zoning, etc

Key facts

• Garage
• Built 1983
• Listed 47 days

Property features AI

Finance

• HOA & community: Located in the Port Dixie Patio Homes subdivision

Exterior

• Parking: Attached garage with 1 garage space; Driveway with space for 2 vehicles
• Utilities: Electric service
• Home design: Duplex; Single-story; Built in 1983
• Exterior features: Small lot in a city zone; No pool

Interior

• Bedrooms: 2 bedrooms (master bedroom on the first floor)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric cooling
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $220k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/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 $187k (15.0% below list).
• Recommended offer: $187k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.3% in Lake Lorraine — 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 69/100 on livability (#488 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety C-, amenities 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.
• Zoned schools: Shalimar Elementary School (math 54% / reading 61%, grade C+, #764 of 2,144 statewide, top 36%, 614 students, 63% FRL); Choctawhatchee Senior High School (math 42% / reading 50%, grade D-, #220 of 667 statewide, top 33%, 1,677 students, 52% FRL) — zoned schools average 58% FRL vs 36% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.0%/yr); 110 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 47 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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

• 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 $187,006 (15.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• GRM: 9.8

CMA / ARV

• ARV (median comp): $238,912
• List price: $219,900
• Delta: -7.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85 Catamaran Ln	0.02mi	3/2.0 (+1)	1,194 (+1%)	14mo	$180,000	$151	81
82 5th St	0.09mi	2/2.0	1,138 (-4%)	22mo	$250,000	$220	71
90 Catamaran Ln	0.03mi	2/2.0	1,296 (+10%)	23mo	$285,000	$220	64
127 Post Oak Pl	0.49mi	2/2.0	1,209 (+2%)	14mo	$245,000	$203	62
35 10th St Unit D	0.73mi	2/1.5	1,216 (+3%)	2mo	$215,000	$177	58
1054 9th St	0.74mi	2/2.0	1,230 (+4%)	5mo	$200,000	$163	54
227 Shalimar Dr #227	0.65mi	2/2.5	1,350 (+14%)	3mo	$420,000	$311	42
89 4th Ave Unit A	0.70mi	2/2.5	1,333 (+13%)	3mo	$225,000	$169	42
48 4th Ave	0.63mi	3/2.0 (+1)	1,056 (-11%)	10mo	$249,900	$237	39
90 6th Ave #1	0.63mi	2/2.5	1,360 (+15%)	14mo	$225,000	$165	32
90 6th Ave #3	0.63mi	3/2.5 (+1)	1,360 (+15%)	16mo	$217,000	$160	25

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: -14.3%
• Equity multiple: 0.50×
• Total profit: $-30,745
• Equity at exit: $32,788

10-year hold

• IRR: -10.6%
• Equity multiple: 0.43×
• Total profit: $-34,875
• Equity at exit: $19,013

Cash invested: $61,572 (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 32579

• Home prices YoY: -23.6%
• Rents YoY: -2.0%
• Active inventory: 110
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $164

Break-even live

Break-even rent $1,662

Max offer price $219,900

Occupancy floor 86%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Spinnaker Ln Shalimar, FL	3.0	2.0	1376	$2,395	$1.74	13d	1	0.31mi
64 7th Ave Shalimar, FL	3.0	2.0	1460	$1,995	$1.37	43d	1	0.46mi
68 7th Ave Shalimar, FL	3.0	2.0	1460	$1,995	$1.37	44d	1	0.47mi
100 8th Ave Shalimar, FL	1.0–4.0	1.0–2.0	932	$1,350	$1.45	43d	1	0.58mi
40 4th Ave #9 Shalimar, FL	2.0	1.5	1100	$1,550	$1.41	43d	1	0.65mi
62 4th Ave #5 Shalimar, FL	2.0	1.5	1010	$1,595	$1.58	20d	1	0.67mi
17 7th St Unit 2 Shalimar, FL	2.0	1.0	950	$1,395	$1.47	43d	1	0.72mi
40 11th St Unit K86 Shalimar, FL	2.0	1.5	1216	$1,749	$1.44	43d	1	0.81mi
40 11th St Shalimar, FL	2.0	1.0	1216	$1,549	$1.27	20d	1	0.81mi
38 11th St #103 Shalimar, FL	3.0	2.5	1300	$1,750	$1.35	43d	1	0.85mi
27 11th St Shalimar, FL	2.0	1.5	1400	$1,550	$1.11	43d	1	0.88mi
133 4th Ave Shalimar, FL	3.0	2.5	1248	$2,000	$1.60	13d	1	0.89mi
145 4th Ave Shalimar, FL	2.0	2.0	1260	$1,625	$1.29	43d	1	0.92mi
101 Old Ferry Rd Shalimar, FL	1.0–2.0	1.0	774	$1,625	$2.10	13d	1	0.97mi
45 Warwick Dr Shalimar, FL	2.0	2.0	1150	$2,800	$2.43	20d	1	1.23mi
726 Eglin Pkwy NE Unit C11 Fort Walton Beach, FL	2.0	1.0	881	$2,100	$2.38	20d	1	1.25mi
726 Eglin Pkwy NE Fort Walton Beach, FL	1.0	1.0	764	$1,450	$1.90	43d	1	1.25mi
413 Waterway Ln Fort Walton Beach, FL	2.0	3.0	1350	$1,475	$1.09	43d	1	1.32mi
941 Harrelson St Fort Walton Beach, FL	2.0	2.5	1332	$1,895	$1.42	43d	1	1.35mi
100 Scranton St Fort Walton Beach, FL	3.0	2.5	1437	$1,850	$1.29	43d	1	1.50mi

Listing history 26 events

1. 2026-06-16
   status $219,900 Pending 47 DOM
2. 2026-06-16
   days on market $219,900 Active 47 DOM
3. 2026-06-15
   days on market $219,900 Active 46 DOM
4. 2026-06-14
   days on market $219,900 Active 44 DOM
5. 2026-06-13
   pricedays on market $219,900 Active 43 DOM
6. 2026-06-10
   days on market $224,900 Active 41 DOM
7. 2026-06-09
   days on market $224,900 Active 40 DOM
8. 2026-06-08
   days on market $224,900 Active 39 DOM
9. 2026-06-07
   days on market $224,900 Active 38 DOM
10. 2026-06-05
    days on market $224,900 Active 35 DOM
11. 2026-06-02
    days on market $224,900 Active 33 DOM
12. 2026-06-01
    days on market $224,900 Active 32 DOM
13. 2026-05-31
    days on market $224,900 Active 31 DOM
14. 2026-05-30
    days on market $224,900 Active 30 DOM
15. 2026-05-15
    status Active 636-char remark
16. 2026-04-30
    listed $224,900 Active 636-char remark
17. 2021-05-12
    soldstatus $201,200
18. 2021-05-11
    soldstatus $201,111 613-char remark

    Show marketing remark (613 chars)

    Updated Port dixie Patio home! This home is freshly painted and updated in all areas! Hard surface flooring flows throughout making it for easy living! The two tone cabinets are just STUNNING! Enjoy entertaining with the full open concept! Plenty of room for a gorgeous dining space, large living space furniture, and more! Take a step out back to the beautiful oversized deck and perfect for entertaining! Still allowing for yard space to enjoy! It really has it all! Buyer to verify all information important to buyer including but not limited to square footage, room size, lot size, zoning, etc

19. 2021-05-11
    soldstatus $201,111 Sold 613-char remark

    Show marketing remark (613 chars)

    Updated Port dixie Patio home! This home is freshly painted and updated in all areas! Hard surface flooring flows throughout making it for easy living! The two tone cabinets are just STUNNING! Enjoy entertaining with the full open concept! Plenty of room for a gorgeous dining space, large living space furniture, and more! Take a step out back to the beautiful oversized deck and perfect for entertaining! Still allowing for yard space to enjoy! It really has it all! Buyer to verify all information important to buyer including but not limited to square footage, room size, lot size, zoning, etc

20. 2021-04-11
    status Pending 613-char remark

    Show marketing remark (613 chars)

    Updated Port dixie Patio home! This home is freshly painted and updated in all areas! Hard surface flooring flows throughout making it for easy living! The two tone cabinets are just STUNNING! Enjoy entertaining with the full open concept! Plenty of room for a gorgeous dining space, large living space furniture, and more! Take a step out back to the beautiful oversized deck and perfect for entertaining! Still allowing for yard space to enjoy! It really has it all! Buyer to verify all information important to buyer including but not limited to square footage, room size, lot size, zoning, etc

21. 2021-04-09
    listed $190,000 Active 613-char remark

    Show marketing remark (613 chars)

    Updated Port dixie Patio home! This home is freshly painted and updated in all areas! Hard surface flooring flows throughout making it for easy living! The two tone cabinets are just STUNNING! Enjoy entertaining with the full open concept! Plenty of room for a gorgeous dining space, large living space furniture, and more! Take a step out back to the beautiful oversized deck and perfect for entertaining! Still allowing for yard space to enjoy! It really has it all! Buyer to verify all information important to buyer including but not limited to square footage, room size, lot size, zoning, etc

22. 2021-04-09
    listed $190,000 613-char remark

    Show marketing remark (613 chars)

    Updated Port dixie Patio home! This home is freshly painted and updated in all areas! Hard surface flooring flows throughout making it for easy living! The two tone cabinets are just STUNNING! Enjoy entertaining with the full open concept! Plenty of room for a gorgeous dining space, large living space furniture, and more! Take a step out back to the beautiful oversized deck and perfect for entertaining! Still allowing for yard space to enjoy! It really has it all! Buyer to verify all information important to buyer including but not limited to square footage, room size, lot size, zoning, etc

23. 2009-06-22
    soldstatus $109,000
24. 2005-12-02
    soldstatus $175,000
25. 2002-08-20
    soldstatus $80,500
26. 1983-12-01
    soldstatus $55,200

ⓘ 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: $818 · $68/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$1,007/yr (+$84/mo · 123.0%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,441
• − Mortgage interest: −$12,318
• − Property taxes: −$818
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$6,397
• Taxable loss: −$1,783
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $2,400/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 — Lake Lorraine

• Score: 69/100
• State rank: #488
• US rank: #8959

Category grades

Amenities F Commute F Cost of living C- 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: Lake Lorraine, FL
• County: Okaloosa County · 194,352 people
• City population: 10,775
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 10,506
• Household income: $104,510
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 271.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 12% Two or more races 8% Black 4% Asian 3% Pacific Islander 2% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% German/W. Germanic 2%

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: ▼ -86.93%
• Current HPI: 281.2637
• Rent YoY: ▼ -1.97%
• 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

+298.4% since first listed

14 events — show timeline

• 2026-06-16 Pending — ECAR
• 2026-06-10 Price Changed $219,900 ECAR
• 2026-05-15 Relisted — ECAR
• 2026-04-30 Listed $224,900 ECAR
• 2021-05-12 Sold (Public Records) $201,200 Public Records
• 2021-05-11 Sold (MLS) $201,111 ECAR
• 2021-05-11 Sold (MLS) $201,111 NAMLS
• 2021-04-11 Pending — ECAR
• 2021-04-09 Listed $190,000 ECAR
• 2021-04-09 Listed $190,000 NAMLS
• 2009-06-22 Sold (Public Records) $109,000 Public Records
• 2005-12-02 Sold (Public Records) $175,000 Public Records
• 2002-08-20 Sold (Public Records) $80,500 Public Records
• 1983-12-01 Sold (Public Records) $55,200 Public Records

Property tax history

-8.7%/yr

Latest (2025): $818 · +4.8% YoY. Source: county tax records.