57 NW Hemlock Dr · Fort Walton Beach, FL 32548

$305,000

4 bd · 3.0 ba · 1,499 sqft · SingleFamily public records · 61 Days on market

Built 1961 9,583 sqft lot $203/sqft · 29% above area Est $363k · 16% under

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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 +14.7/15.0
• Cash flow +9.6/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Partially Completed Home with Expanded Master Suite

Key facts

• 9,583 sq ft lot
• Built 1961
• Listed 61 days

Tags

• EXPANDED MASTER SUITE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (26.6% below list).
• Recommended offer: $224k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: schools 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.
• Market conditions: Rents rising (+1.3%/yr); 341 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 41% 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 $2k of loan paydown is wiped out by about $9k 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 61 days — a 6% lower offer ($287k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $155k; list at $305k implies a 97% 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 $223,954 (26.6% 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 61 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 11.3

CMA / ARV

• ARV (median comp): $362,919
• List price: $305,000
• Delta: -15.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 NW Watson Dr	0.12mi	3/1.5 (-1)	1,512 (+1%)	1mo	$300,000	$198	81
109 NW Maurice Ave	0.17mi	3/2.0 (-1)	1,488 (-1%)	1mo	$313,000	$210	81
308 NW Victoria Ave	0.20mi	3/2.0 (-1)	1,383 (-8%)	0mo	$310,000	$224	68
135 Moriarty St	0.44mi	4/2.0	1,552 (+4%)	2mo	$342,000	$220	68
300 NW Victoria Ave	0.20mi	3/2.0 (-1)	1,613 (+8%)	2mo	$375,000	$232	68
208 Moriarty St	0.33mi	3/2.5 (-1)	1,600 (+7%)	0mo	$368,995	$231	66
300 NW Leah Miller Dr	0.26mi	3/2.0 (-1)	1,620 (+8%)	1mo	$375,000	$231	64
132 NW Loizos Dr	0.41mi	4/1.5	1,412 (-6%)	2mo	$290,000	$205	64
374 NW Makron Dr	0.45mi	3/2.0 (-1)	1,592 (+6%)	0mo	$365,000	$229	59
213 NW Moriarty St	0.34mi	3/1.0 (-1)	1,326 (-12%)	0mo	$269,000	$203	52
27 SW Driftwood Ave	0.72mi	3/2.0 (-1)	1,586 (+6%)	2mo	$199,000	$125	46
387 NW Canterbury Cir	0.68mi	3/2.0 (-1)	1,294 (-14%)	1mo	$384,900	$297	36

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: -22.9%
• Equity multiple: 0.22×
• Total profit: $-66,225
• Equity at exit: $45,476

10-year hold

• IRR: -21.9%
• Equity multiple: -0.05×
• Total profit: $-89,358
• Equity at exit: $26,371

Cash invested: $85,400 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,240 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$248 /mo · $2,972/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-205

Break-even live

Break-even rent $2,499

Max offer price $268,799

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Leah Miller Dr NW Fort Walton Beach, FL	3.0	1.5	1334	$2,000	$1.50	21d	1	0.22mi
322 Kathleen Pl NW Fort Walton Beach, FL	4.0	2.0	1532	$2,490	$1.63	14d	1	0.38mi
110 Loizos Dr NW Fort Walton Beach, FL	3.0	2.0	1148	$2,200	$1.92	44d	1	0.60mi
17 Cape Dr NW Unit B Fort Walton Beach, FL	3.0	2.0	1462	$1,995	$1.36	14d	1	0.69mi
358 Coral Dr SW Fort Walton Beach, FL	3.0	2.0	1350	$1,800	$1.33	44d	1	0.74mi
218 Rose Marie Ln SW Fort Walton Beach, FL	3.0	1.0	1208	$1,750	$1.45	21d	1	0.81mi
204 Devon Ct Fort Walton Beach, FL	3.0	2.0	1599	$2,000	$1.25	44d	1	1.09mi
30 Harbeson Ave NE Fort Walton Beach, FL	4.0	2.5	1717	$2,250	$1.31	44d	1	1.26mi
13 Chatelaine Cir SE Fort Walton Beach, FL	3.0	3.0	1728	$2,100	$1.22	14d	1	1.32mi
490 Soundview Ct Mary Esther, FL	3.0	2.5	1678	$3,200	$1.91	21d	1	1.33mi

Listing history 28 events

1. 2026-06-18
   days on market $305,000 Active 61 DOM
2. 2026-06-17
   days on market $305,000 Active 60 DOM
3. 2026-06-16
   pricedays on market $305,000 Active 59 DOM
4. 2026-06-15
   days on market $320,000 Active 58 DOM
5. 2026-06-14
   days on market $320,000 Active 56 DOM
6. 2026-06-13
   days on market $320,000 Active 55 DOM
7. 2026-06-10
   days on market $320,000 Active 53 DOM
8. 2026-06-09
   days on market $320,000 Active 52 DOM
9. 2026-06-08
   days on market $320,000 Active 51 DOM
10. 2026-06-07
    days on market $320,000 Active 50 DOM
11. 2026-06-05
    days on market $320,000 Active 47 DOM
12. 2026-06-02
    days on market $320,000 Active 45 DOM
13. 2026-06-01
    days on market $320,000 Active 44 DOM
14. 2026-05-31
    days on market $320,000 Active 43 DOM
15. 2026-05-30
    days on market $320,000 Active 42 DOM
16. 2026-04-18
    listed $320,000 Active 51-char remark

    Show marketing remark (51 chars)

    Partially Completed Home with Expanded Master Suite

17. 2025-03-03
    soldstatus $155,000 Closed 450-char remark

    Show marketing remark (450 chars)

    Auction Property. AUCTION. Affordable ranch home is in need of your renovations. Come restore this to your desired dream space. Home features 4 beds, 2.5 baths and sits on a large lot. A lot will be required to restore this home to include roof, ceiling, floors and other cosmetic updates. Property is sold as-is with no property disclosure or inspection reports. Gather your design ideas and make this your next project. CAUTION MOLD may be present.

18. 2025-01-28
    status Pending 450-char remark

    Show marketing remark (450 chars)

    Auction Property. AUCTION. Affordable ranch home is in need of your renovations. Come restore this to your desired dream space. Home features 4 beds, 2.5 baths and sits on a large lot. A lot will be required to restore this home to include roof, ceiling, floors and other cosmetic updates. Property is sold as-is with no property disclosure or inspection reports. Gather your design ideas and make this your next project. CAUTION MOLD may be present.

19. 2025-01-15
    listed $159,000 Active 450-char remark

    Show marketing remark (450 chars)

    Auction Property. AUCTION. Affordable ranch home is in need of your renovations. Come restore this to your desired dream space. Home features 4 beds, 2.5 baths and sits on a large lot. A lot will be required to restore this home to include roof, ceiling, floors and other cosmetic updates. Property is sold as-is with no property disclosure or inspection reports. Gather your design ideas and make this your next project. CAUTION MOLD may be present.

20. 2023-08-29
    status Active
21. 2023-08-29
    historical
22. 2023-07-07
    status Pending
23. 2023-06-23
    price $186,100
24. 2023-05-26
    price $204,000
25. 2023-05-11
    price $227,600
26. 2023-04-25
    price $251,400
27. 2023-04-07
    listed $280,000 Active
28. 1977-01-01
    soldstatus $12,589

ⓘ 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: $2,972 · $248/mo
• Projected year-2 tax: $2,972 · $248/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: $26,874
• − Mortgage interest: −$17,085
• − Property taxes: −$2,972
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,150
• − Management: −$2,150
• − Depreciation: −$8,873
• Taxable loss: −$7,879
• Est. tax savings @ 24.0%: +$1,891
• After-tax cash flow: $-568/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

+2441.9% since first listed

13 events — show timeline

• 2026-04-18 Listed $320,000 NAMLS
• 2025-03-03 Sold (MLS) $155,000 Stellar MLS as Distributed by MLS Grid
• 2025-01-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-01-15 Listed $159,000 Stellar MLS as Distributed by MLS Grid
• 2023-08-29 Relisted — Stellar MLS as Distributed by MLS Grid
• 2023-08-29 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-07-07 Pending — Stellar MLS as Distributed by MLS Grid
• 2023-06-23 Price Changed $186,100 Stellar MLS as Distributed by MLS Grid
• 2023-05-26 Price Changed $204,000 Stellar MLS as Distributed by MLS Grid
• 2023-05-11 Price Changed $227,600 Stellar MLS as Distributed by MLS Grid
• 2023-04-25 Price Changed $251,400 Stellar MLS as Distributed by MLS Grid
• 2023-04-07 Listed $280,000 Stellar MLS as Distributed by MLS Grid
• 1977-01-01 Sold (Public Records) $12,589 Public Records

Property tax history

+16.4%/yr

Latest (2025): $2,972 · +2.8% YoY. Source: county tax records.