115 Golden Bell Ct Unit 115C · Laguna Beach, FL 32461

$545,000

3 bd · 2.5 ba · 1,685 sqft · Townhouse · 97 Days on market

Built 2022 Est $532k · at est. $164/mo HOA · 4% 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).

• Appreciation +7.0/10.0
• Cash flow +6.7/30.0
• ARV discount +6.4/15.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +0.9/10.0

Listing remarks

Discover Villas on the Fairway, thoughtfully designed TOWNHOMES in the highly sought-after Watersound Origins community! These stunning 2-story residences feature 3 bedrooms, 2.5 baths, and a 1-car garage, with direct access to the lively Watersound Town Center--featuring shops, restaurants, a pavilion, and abundant green space just moments away. Inside, the open-concept first floor boasts stylish LVP flooring throughout, a spacious island kitchen with Quartz countertops, a sleek glass cooktop with oven, microwave and a refrigerator. A convenient coat/storage closet and powder room add to the home's functionality and ease of living. Upstairs, the spacious owner's suite is complemented by tw

Key facts

• Quartz countertops
• Glass cooktop
• Expansive deck

Tags

• VILLAS ON THE FAIRWAY
• WATERSOUND ORIGINS COMMUNITY
• SPACIOUS ISLAND KITCHEN
• QUARTZ COUNTERTOPS
• GLASS COOKTOP
• EXPANSIVE DECK

Property features AI

Finance

• HOA & community: Has association; Association covers grounds maintenance and management; Community amenities include exercise room, golf, pavilion/gazebo, picnic area, playground, pool, tennis courts, and pickleball; short-term rentals not allowed

Exterior

• Parking: Attached garage with garage door opener; 1 garage space; 1 driveway space
• Utilities: Public water; Public sewer; Community water; Electric; TV cable; Tap fee paid
• Home design: Florida cottage style; 2 stories; Resid Multi-Family zoning; Built in 2022
• Construction: Concrete, brick and cement fiberboard siding; Shingle and metal roof; Slab foundation
• Exterior features: Sprinkler system; Covered deck; Open patio; Porch; Community pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Kitchen island; Pantry
• Bedrooms: 3 bedrooms; Primary bedroom with double vanity, walk-in closet, tile shower (shower only)
• Flooring: Tile; Vinyl
• Bathrooms: 3 total bathrooms (2 full, 1 half)
• Heating & cooling: Central heating; Central air; Ceiling fans; Electric heat control
• Interior features: Crown molding; Kitchen island; Recessed lighting; Pantry; Shelving; Washer/dryer hookup; Painted woodwork
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $545k.

Deal economics

• At list price, monthly cash flow is $-874 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $418k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (29.0% below list).
• Recommended offer: $387k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 4.4% 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); 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: 710 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 32% 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 $26k of equity ($4k loan paydown + $22k 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 ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($496k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $386,844 (29.0% 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 97 days. Have you received any prior offers? Is the seller open to a 29% 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: 0.71% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.88%
• DSCR: 0.69
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $532,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
95 Golden Bell Ct Unit 95C	0.01mi	3/2.5	1,685 (0%)	2mo	$530,000	$315	98
15 Golden Bell Ct Unit 15C	0.06mi	3/2.5	1,685 (0%)	2mo	$495,000	$294	96
45 Golden Bell Ct Unit 45D	0.09mi	3/2.5	1,685 (0%)	0mo	$600,000	$356	95
15 Golden Bell Ct Unit 15B	0.06mi	3/2.5	1,685 (0%)	2mo	$500,000	$297	95
25 Golden Bell Ct Unit 25C	0.07mi	3/2.5	1,685 (0%)	2mo	$540,000	$320	95
46 Golden Bell Ct Unit 46A	0.08mi	3/2.5	1,685 (0%)	2mo	$550,000	$326	95
46 Golden Bell Ct Unit 46D	0.09mi	3/2.5	1,685 (0%)	1mo	$532,500	$316	95
26 Golden Bell Ct Unit 26D	0.08mi	3/2.5	1,685 (0%)	3mo	$515,000	$306	94
26 Golden Bell Ct Unit 26C	0.08mi	3/2.5	1,685 (0%)	3mo	$520,000	$309	94
55 Golden Bell Ct Unit 55D	0.09mi	3/2.5	1,685 (0%)	2mo	$600,000	$356	94
56 Golden Bell Ct Unit 56D	0.09mi	3/2.5	1,685 (0%)	3mo	$540,000	$320	94
16 Golden Bell Ct Unit 16A	0.14mi	3/2.5	1,685 (0%)	3mo	$520,000	$309	91

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: 4.4%
• Equity multiple: 1.27×
• Total profit: $41,401
• Equity at exit: $278,325

10-year hold

• IRR: 7.3%
• Equity multiple: 2.24×
• Total profit: $188,814
• Equity at exit: $456,828

Cash invested: $152,600 (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 32461

• Home prices YoY: 1.2%
• Active inventory: 710
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $3,868 high
• Mortgage (P&I): −$2,858
• Tax est. 1.5%: −$681 /mo · $8,175/yr
• Insurance: −$227
• HOA: −$164
• Vacancy / Maint / Mgmt: −$812
• Net cashflow: $-874

Break-even live

Break-even rent $4,975

Max offer price $418,487

Occupancy floor —

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: $136,250
• Closing costs: $16,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Blue Stream Way Inlet Beach, FL	1.0–2.0	1.0–2.0	978	$2,342	$2.39	13d	11	0.24mi
323 Suwannee Dr Inlet Beach, FL	2.0	2.0	1442	$3,500	$2.43	13d	1	0.59mi
323 Suwannee Dr Unit 72A Inlet Beach, FL	2.0	2.0	1442	$4,000	$2.77	21d	1	0.61mi
48 E Lafayette Rd Inlet Beach, FL	3.0	2.0	1700	$3,700	$2.18	13d	1	0.84mi
7 Barbados Ln Inlet Beach, FL	3.0	2.5	1563	$2,900	$1.86	21d	1	0.99mi
7 Barbados Ln Inlet Beach, FL	3.0	2.5	1563	$2,900	$1.86	13d	1	0.99mi
117 River Rise Way Inlet Beach, FL	2.0	2.0	1952	$4,950	$2.54	13d	1	1.00mi
104 Sandpine Loop Inlet Beach, FL	4.0	3.0	1884	$3,400	$1.80	21d	1	1.38mi
122 Sandpine Loop Inlet Beach, FL	4.0	2.5	1934	$3,000	$1.55	21d	1	1.39mi

HOA detail

• Monthly dues: $164 · $1,968/yr
• Likely covers: water

Listing history 18 events

1. 2026-06-18
   days on market $545,000 Active 97 DOM
2. 2026-06-17
   days on market $545,000 Active 96 DOM
3. 2026-06-16
   days on market $545,000 Active 95 DOM
4. 2026-06-15
   days on market $545,000 Active 94 DOM
5. 2026-06-14
   days on market $545,000 Active 92 DOM
6. 2026-06-13
   days on market $545,000 Active 91 DOM
7. 2026-06-10
   days on market $545,000 Active 89 DOM
8. 2026-06-09
   days on market $545,000 Active 88 DOM
9. 2026-06-08
   days on market $545,000 Active 87 DOM
10. 2026-06-07
    days on market $545,000 Active 86 DOM
11. 2026-06-05
    days on market $545,000 Active 83 DOM
12. 2026-06-03
    days on market $545,000 Active 82 DOM
13. 2026-06-03
    days on market $545,000 Active 81 DOM
14. 2026-06-01
    days on market $545,000 Active 80 DOM
15. 2026-05-31
    days on market $545,000 Active 79 DOM
16. 2026-05-30
    days on market $545,000 Active 78 DOM
17. 2026-03-13
    listed $545,000 Active
18. 2025-06-11
    listed $505,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $46,421
• − Mortgage interest: −$30,528
• − Property taxes: −$8,175
• − Insurance: −$2,725
• − Repairs & maintenance: −$3,714
• − Management: −$3,714
• − HOA: −$1,968
• − Depreciation: −$15,855
• Taxable loss: −$20,257
• Est. tax savings @ 24.0%: +$4,862
• After-tax cash flow: $-5,630/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

+7.9% since first listed

2 events — show timeline

• 2026-03-13 Listed $545,000 ECAR
• 2025-06-11 Listed $505,000 ECAR