200 Sandestin Ln Apt 622 · Miramar Beach, FL 32550

$170,000

1 bd · 1.0 ba · 470 sqft · Condo · 50 Days on market

Built 2003 $233/mo HOA · 13% of rent

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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 +16.3/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• 1% rule +5.3/10.0
• Schools +5.2/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

Key facts

• Community pool
• Fitness room
• $233 HOA

Tags

• UPDATED SECOND STORY UNIT
• NEW KITCHEN COUNTERTOPS
• COMMUNITY POOL
• FITNESS ROOM

Property features AI

Finance

• Other: Subdivision: POINTE OF VIEW
• Financial info: No additional financial details provided
• HOA & community: Homeowners association present; HOA covers grounds maintenance, structure maintenance, insurance, legal, management, trash, and recreational facilities; Fees include accounting, grounds keeping, insurance, legal, management, repairs/maintenance, and trash

Exterior

• Parking: No parking details provided
• Security: Fire alarm
• Utilities: Public water; Electric service; Phone service available; TV cable available
• Home design: Condo / apartment style; Single-story unit (1 story)
• Construction: Built in 2003; Stucco and vinyl siding; Shake roof
• Exterior features: Community in-ground pool; BBQ grill area; Exercise room (community); Pets allowed

Interior

• Kitchen: First-floor kitchen; Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: 1 bedroom; Master bedroom is carpeted
• Flooring: Laminate flooring; Carpet
• Bathrooms: 1 total bathroom (1 full)
• Heating & cooling: Central heating; Central air
• Interior features: Unfurnished; Double pane windows
• Laundry & utility: Laundry available in community

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 $4k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 9 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

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.03% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• GRM: 8.1

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: 5.2%
• Equity multiple: 1.27×
• Total profit: $12,875
• Equity at exit: $62,020

10-year hold

• IRR: 9.2%
• Equity multiple: 2.17×
• Total profit: $55,758
• Equity at exit: $85,593

Cash invested: $47,600 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,743 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$71
• HOA: −$233
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $92

Break-even live

Break-even rent $1,627

Max offer price $170,000

Occupancy floor 90%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $233 · $2,796/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $170,000 Active 50 DOM
2. 2026-06-17
   days on market $170,000 Active 49 DOM
3. 2026-06-16
   days on market $170,000 Active 48 DOM
4. 2026-06-15
   days on market $170,000 Active 47 DOM
5. 2026-06-14
   days on market $170,000 Active 45 DOM
6. 2026-06-13
   days on market $170,000 Active 44 DOM
7. 2026-06-10
   days on market $170,000 Active 42 DOM
8. 2026-06-09
   days on market $170,000 Active 41 DOM
9. 2026-06-08
   days on market $170,000 Active 40 DOM
10. 2026-06-07
    days on market $170,000 Active 39 DOM
11. 2026-06-05
    days on market $170,000 Active 36 DOM
12. 2026-06-03
    days on market $170,000 Active 35 DOM
13. 2026-06-03
    days on market $170,000 Active 34 DOM
14. 2026-06-01
    days on market $170,000 Active 33 DOM
15. 2026-05-31
    days on market $170,000 Active 32 DOM
16. 2026-05-30
    days on market $170,000 Active 31 DOM
17. 2026-04-29
    listed $170,000 Active
18. 2022-03-01
    soldstatus $150,000
19. 2022-02-28
    soldstatus $150,000 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

20. 2022-02-28
    soldstatus $150,000 Sold 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

21. 2022-02-04
    status Pending 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

22. 2022-02-02
    status Active 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

23. 2022-01-08
    status Pending 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

24. 2022-01-07
    listed $159,900 Active 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

25. 2022-01-06
    listed $159,900 466-char remark

    Show marketing remark (466 chars)

    Beautifully updated second story unit completely renovated with new carpet, new laminate flooring, new kitchen countertops, and all new appliances! Located just a few minutes from Grande Boulevard, Publix, Sacred Heart Hospital and the beach. HOA offers a community pool with pool house, and a fitness room. This unit is in a long term lease until 11/1/2022. Must wear mask at all showings. Only with a 24 hour notice. Showings are only on Friday from 3-5 CST.

26. 2008-10-31
    historical
27. 2007-11-01
    listed $178,000
28. 2007-11-01
    listed $178,000
29. 2006-06-19
    historical
30. 2006-01-20
    listed $165,000
31. 2006-01-20
    listed $165,000
32. 2004-01-08
    soldstatus $66,500
33. 2003-12-31
    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: $1,411 · $118/mo
• Expected delta: +$332/yr (+$28/mo · 30.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 22 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: −$9,523
• − Property taxes: −$1,079
• − Insurance: −$850
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$2,796
• − Depreciation: −$4,945
• Taxable loss: −$1,621
• Est. tax savings @ 24.0%: +$389
• After-tax cash flow: $1,492/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

+155.6% since first listed

18 events — show timeline

• 2026-04-29 Listed $170,000 ECAR
• 2022-03-01 Sold (Public Records) $150,000 Public Records
• 2022-02-28 Sold (MLS) $150,000 ECAR
• 2022-02-28 Sold (MLS) $150,000 NAMLS
• 2022-02-04 Pending — ECAR
• 2022-02-02 Relisted — ECAR
• 2022-01-08 Pending — ECAR
• 2022-01-07 Listed $159,900 ECAR
• 2022-01-06 Listed $159,900 NAMLS
• 2008-10-31 Listing Removed — NAMLS
• 2007-11-01 Listed $178,000 NAMLS
• 2007-11-01 Listed $178,000 ECAR
• 2006-06-19 Listing Removed — NAMLS
• 2006-01-20 Listed $165,000 NAMLS
• 2006-01-20 Listed $165,000 ECAR
• 2004-01-08 Sold (Public Records) $66,500 Public Records
• 2003-12-31 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.