236 NW Shumpert St · Fort Walton Beach, FL 32548

$199,000

3 bd · 2.0 ba · 1,266 sqft · SingleFamily public records · 1 Days on market

Built 1962 0.35 ac lot Est $284k · 30% 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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +5.2/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located just minutes from the beautiful beaches of Okaloosa Island and the shopping, dining, and entertainment of downtown Fort Walton Beach, this property offers a great opportunity for investors, renovators, or buyers looking to make a home their own. Being sold AS IS, the home features a spacious driveway, covered carport, and mature landscaping that adds character and curb appeal. The backyard includes a detached workshop, perfect for hobbies, storage, or additional workspace. With a desirable location and plenty of potential, this property is ready for its next chapter.

Key facts

• Covered carport
• Detached workshop
• Spacious driveway

Tags

• SPACIOUS DRIVEWAY
• COVERED CARPORT
• MATURE LANDSCAPING
• DETACHED WORKSHOP

Property features AI

Finance

• HOA & community: Subdivision: MUNICIPAL S/D 1ST ADDN

Exterior

• Parking: 2 covered parking spaces; 4 driveway spaces; Carport
• Utilities: Public water; Public sewer; Electric service; Phone service; TV cable
• Home design: Florida cottage style; Single-story
• Construction: Built in 1962; Block and frame construction; Shingle roof
• Exterior features: Private yard; Chain-link fencing; Corner lot; Paved county road frontage; Workshop/outbuilding

Interior

• Bedrooms: 3 bedrooms, master bedroom on the first floor; All bedrooms located on the first floor
• Flooring: Tile flooring; Vinyl flooring; Carpet flooring
• Bathrooms: 2 bathrooms (1 full, 1 half)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans; Electric heat control; Electric water heater
• Interior features: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $157 ($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 $193k (2.9% below list).
• Recommended offer: $193k (2.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 0.9% in Fort Walton 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 80/100 on livability (#111 in FL, #1,628 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: 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: Annette P. Edwins Elementary School (math 47% / reading 42%, grade F, #1,288 of 2,144 statewide, top 62%, 453 students, 80% FRL); Fort Walton Beach High School (math 54% / reading 58%, grade C, #131 of 667 statewide, top 20%, 1,620 students, 42% FRL) — zoned schools average 61% FRL vs 36% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 341 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 35% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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.
• Current owner paid $12k; list at $199k implies a 1624% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,136 (2.9% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $283,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 NW Sikes Cir	0.15mi	3/2.0	1,258 (-1%)	2mo	$325,000	$258	90
308 NW Victoria Ave	0.12mi	3/2.0	1,383 (+9%)	0mo	$310,000	$224	79
16 SW Temple Ave	0.46mi	3/1.5	1,252 (-1%)	1mo	$295,000	$236	74
312 SW Hollywood Blvd SW	0.36mi	3/1.0	1,230 (-3%)	3mo	$275,000	$224	72
315 NW Leah Miller Dr	0.32mi	3/2.0	1,134 (-10%)	1mo	$289,900	$256	67
224 NW Gilda Pl	0.31mi	3/1.5	1,151 (-9%)	3mo	$200,000	$174	66
213 NW Moriarty St	0.47mi	3/1.0	1,326 (+5%)	0mo	$269,000	$203	66
387 NW Canterbury Cir	0.68mi	3/2.0	1,294 (+2%)	1mo	$384,900	$297	64
105 SW Cedar Ave	0.70mi	3/1.5	1,288 (+2%)	3mo	$279,900	$217	60
204 SW Coral Dr	0.75mi	3/2.0	1,218 (-4%)	1mo	$379,500	$312	58
132 NW Loizos Dr	0.37mi	4/1.5 (+1)	1,412 (+12%)	2mo	$290,000	$205	55
131 NW Moriarty St	0.57mi	3/1.0	1,158 (-8%)	1mo	$140,000	$121	54

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.54×
• Total profit: $-25,411
• Equity at exit: $29,672

10-year hold

• IRR: -6.6%
• Equity multiple: 0.61×
• Total profit: $-21,813
• Equity at exit: $17,206

Cash invested: $55,720 (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 32548

• Home prices YoY: -31.1%
• Rents YoY: 1.3%
• Active inventory: 341
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,931 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$242 /mo · $2,907/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $157

Break-even live

Break-even rent $1,733

Max offer price $199,000

Occupancy floor 87%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 Kathleen Pl NW Fort Walton Beach, FL	4.0	2.0	1532	$2,490	$1.63	13d	1	0.35mi
305 Leah Miller Dr NW Fort Walton Beach, FL	3.0	1.5	1334	$2,000	$1.50	21d	1	0.41mi
110 Loizos Dr NW Fort Walton Beach, FL	3.0	2.0	1148	$2,200	$1.92	43d	1	0.54mi
358 Coral Dr SW Fort Walton Beach, FL	3.0	2.0	1350	$1,800	$1.33	43d	1	0.57mi
44 Wright Pkwy NW Fort Walton Beach, FL	2.0	1.0	1000	$1,350	$1.35	21d	1	0.60mi
218 Rose Marie Ln SW Fort Walton Beach, FL	3.0	1.0	1208	$1,750	$1.45	21d	1	0.61mi
17 Cape Dr NW Unit B Fort Walton Beach, FL	3.0	2.0	1462	$1,995	$1.36	13d	1	0.62mi
413 Sea Rover Ln NW Unit F Fort Walton Beach, FL	2.0	1.5	1035	$1,600	$1.55	21d	1	0.79mi
413 Sea Rover Ln NW Unit F Fort Walton Beach, FL	2.0	1.5	1035	$1,600	$1.55	13d	1	0.79mi
405 Marshall Ct Fort Walton Beach, FL	2.0	2.0	1000	$1,495	$1.50	43d	1	0.81mi
402 Marshall Ct NW #6 Fort Walton Beach, FL	2.0	2.0	1050	$1,500	$1.43	21d	1	0.87mi
1850 Stella Ln Unit 4-411 Fort Walton Beach, FL	2.0	2.0	980	$1,650	$1.68	13d	1	0.98mi
1850 Stella Ln Unit 4-417 Fort Walton Beach, FL	2.0	2.0	980	$1,800	$1.84	43d	1	0.98mi
115 Beal Pkwy NW Fort Walton Beach, FL	2.0	2.5	1440	$1,995	$1.39	43d	1	0.99mi
1861 Stella Ln Fort Walton Beach, FL	2.0	2.0	980	$1,650	$1.68	13d	5	0.99mi
1855 Stella Ln Unit 6-617 Fort Walton Beach, FL	2.0	2.0	980	$1,650	$1.68	13d	1	1.03mi
1851 Stella Ln Unit 5-538 Fort Walton Beach, FL	2.0	2.0	980	$1,650	$1.68	13d	1	1.04mi
490 Soundview Ct Mary Esther, FL	3.0	2.5	1678	$3,200	$1.91	21d	1	1.21mi
646 Virginia Oak Ct Fort Walton Beach, FL	2.0	1.5	1278	$1,545	$1.21	13d	1	1.21mi
13 Chatelaine Cir SE Fort Walton Beach, FL	3.0	3.0	1728	$2,100	$1.22	13d	1	1.22mi
119 Beal Pkwy SE #203 Fort Walton Beach, FL	2.0	2.0	1588	$2,150	$1.35	21d	1	1.22mi
1863 Norwood Ct Unit 4 Fort Walton Beach, FL	2.0	2.0	960	$1,350	$1.41	43d	1	1.22mi
30 Harbeson Ave NE Fort Walton Beach, FL	4.0	2.5	1717	$2,250	$1.31	43d	1	1.22mi
645 Virginia Oak Ct Fort Walton Beach, FL	2.0	1.5	1254	$1,900	$1.52	13d	1	1.23mi
1850 Norwood Ct Unit 2 Fort Walton Beach, FL	2.0	2.0	960	$1,350	$1.41	21d	1	1.24mi
1855 Norwood Ct Fort Walton Beach, FL	2.0	2.0	960	$1,400	$1.46	43d	1	1.25mi
1855 Norwood Ct #5 Fort Walton Beach, FL	2.0	2.0	960	$1,350	$1.41	43d	1	1.25mi
1851 Norwood Ct Unit 4 Fort Walton Beach, FL	2.0	2.0	960	$1,350	$1.41	21d	1	1.26mi
940 Santa Rosa Blvd Fort Walton Beach, FL	2.0	2.0	1000	$2,200	$2.20	21d	4	1.26mi
101 Church Ave SE Unit 204 Fort Walton Beach, FL	2.0	1.0	945	$1,676	$1.77	43d	1	1.28mi
103 Church Ave SE Unit B Fort Walton Beach, FL	2.0	1.0	930	$1,300	$1.40	21d	1	1.28mi
210 Pelham Rd Fort Walton Beach, FL	1.0–2.0	1.0	809	$1,500	$1.85	13d	2	1.29mi
204 Devon Ct Fort Walton Beach, FL	3.0	2.0	1599	$2,000	$1.25	44d	1	1.29mi
909 Santa Rosa Blvd #328 Fort Walton Beach, FL	2.0	2.0	1035	$2,600	$2.51	43d	1	1.30mi
5 Laguna St #104 Fort Walton Beach, FL	2.0	2.0	1269	$2,575	$2.03	44d	1	1.40mi
140 Opp Blvd NE Fort Walton Beach, FL	2.0	1.5	896	$1,750	$1.95	43d	1	1.42mi
115 Hughes St NE Unit D2 Fort Walton Beach, FL	2.0	1.0	1066	$1,900	$1.78	21d	1	1.46mi
120 Opp Blvd NE Fort Walton Beach, FL	2.0	1.5	1240	$1,700	$1.37	21d	1	1.47mi

Listing history 2 events

1. 2026-06-18
   remarks 594-char remark
2. 2026-06-18
   listed $199,000 Active 1 DOM

ⓘ 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: $2,907 · $242/mo
• Projected year-2 tax: $2,907 · $242/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,176
• − Mortgage interest: −$11,147
• − Property taxes: −$2,907
• − Insurance: −$995
• − Repairs & maintenance: −$1,854
• − Management: −$1,854
• − Depreciation: −$5,789
• Taxable loss: −$1,370
• Est. tax savings @ 24.0%: +$329
• After-tax cash flow: $2,213/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 — Fort Walton Beach

• Score: 80/100
• State rank: #111
• US rank: #1628

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Walton Beach, FL
• County: Okaloosa County · 194,352 people
• City population: 59,301
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 23,774
• Household income: $65,342
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 889.0

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 0.57)
• Race & ethnicity: White 63% Hispanic / Latino 13% Black 12% Two or more races 9% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Italian 4% Slovak 3% Romanian 2%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Asian/Pacific 3% Other Indo-European 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: ▼ -123.88%
• Current HPI: 274.8418
• Rent YoY: ▲ 1.33%
• 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

+1623.8% since first listed

7 events — show timeline

• 2026-06-16 Listed $199,000 ECAR
• 2015-10-09 Listing Removed — NAMLS
• 2015-10-09 Listing Removed — PARMLS
• 2015-05-14 Listed $89,900 PARMLS
• 2015-05-12 Listed $89,900 ECAR
• 2015-05-12 Listed $89,900 NAMLS
• 1977-01-01 Sold (Public Records) $11,544 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,907 · +4.6% YoY. Source: county tax records.