10 Harbor Blvd Unit E306E · Destin, FL 32541

$66,500

4 bd · 4.0 ba · 1,660 sqft · Timeshare

Built 2007 Est $60k · 11% over $806/mo HOA · 26% 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).

• Cash flow +15.0/30.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Fractional Ownership! Share E for Sale. Entered for Comp Purposes.

Key facts

• $806 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath timeshare listed at $66k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $66k).
• Cap rate 27.8% vs local median 0.8% in Destin — 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 79/100 on livability (#158 in FL, #2,247 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living D-.
• 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 (+3.7%/yr); 918 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).
• This rent runs 39% of the median local income ($95k/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 $460 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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

• Watch-outs: HOA is 26% of rent.

Recommended offer $66,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 4.68% ✓
• Cap rate: 27.80%
• Cash-on-cash: 76.82%
• DSCR: 4.42
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $59,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Harbor Blvd Unit E506F	0.00mi	4/4.0	1,660 (0%)	4mo	$60,000	$36	97
10 Harbor Blvd Unit E506E	0.00mi	4/4.0	1,660 (0%)	7mo	$60,000	$36	94
10 Harbor Blvd Unit E506C	0.00mi	4/4.0	1,660 (0%)	8mo	$60,000	$36	94
10 Harbor Blvd Unit E606F	0.00mi	4/4.0	1,660 (0%)	9mo	$60,000	$36	92
10 Harbor Blvd Unit E505C	0.00mi	3/3.0 (-1)	1,675 (+1%)	4mo	$59,000	$35	86
10 Harbor Blvd Unit E505F	0.00mi	3/3.0 (-1)	1,675 (+1%)	5mo	$74,500	$44	86
10 Harbor Blvd Unit E105F	0.00mi	3/3.0 (-1)	1,675 (+1%)	7mo	$60,000	$36	84
10 Harbor Blvd Unit E505E	0.00mi	3/3.0 (-1)	1,675 (+1%)	9mo	$67,500	$40	82
10 Harbor Blvd Unit E705B	0.00mi	3/3.0 (-1)	1,675 (+1%)	9mo	$60,000	$36	82
10 Harbor Blvd Unit E610 - Week E	0.00mi	3/3.0 (-1)	1,580 (-5%)	8mo	$44,000	$28	77
10 Harbor Blvd Unit E610 - Week A	0.00mi	3/3.0 (-1)	1,580 (-5%)	8mo	$44,000	$28	77
10 Harbor Blvd Unit E407B	0.00mi	3/3.0 (-1)	1,566 (-6%)	9mo	$37,000	$24	74

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: 78.2%
• Equity multiple: 4.64×
• Total profit: $67,831
• Equity at exit: $9,915

10-year hold

• IRR: 82.1%
• Equity multiple: 10.02×
• Total profit: $167,946
• Equity at exit: $5,750

Cash invested: $18,620 (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 32541

• Rents YoY: 3.7%
• Active inventory: 918
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $3,111 high
• Mortgage (P&I): −$349
• Tax est. 1.5%: −$83 /mo · $998/yr
• Insurance: −$28
• HOA: −$806
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $1,192

Break-even live

Break-even rent $1,602

Max offer price $66,500

Occupancy floor 57%

Sensitivity live

Price	-10% $1,238	-5% $1,215	+0% $1,192	+5% $1,169	+10% $1,146
Rent	-10% $946	-5% $1,069	+0% $1,192	+5% $1,315	+10% $1,438
Rate	-1.0pp $1,226	-0.5pp $1,209	base $1,192	+0.5pp $1,175	+1.0pp $1,157

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: $16,625
• Closing costs: $1,995
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Lan Rob Ln Unit 1399874P Destin, FL	3.0	2.0	2023	$2,474	$1.22	14d	1	0.52mi
447 Fleshman Dr Destin, FL	3.0	2.0	1752	$4,000	$2.28	45d	1	0.90mi
149 Durango Rd Unit 1285905P Destin, FL	3.0	3.0	1539	$3,809	$2.47	22d	1	0.95mi
614 Mountain Dr Destin, FL	3.0	2.0	1550	$2,650	$1.71	22d	1	1.15mi
724 Harbor Blvd Destin, FL	3.0	3.0	1940	$4,000	$2.06	45d	1	1.44mi
150 Bent Arrow Dr Destin, FL	3.0	2.5	1440	$2,250	$1.56	45d	1	1.48mi
22 Moreno Point Rd #12 Destin, FL	3.0	2.5	1236	$3,295	$2.67	45d	1	1.49mi

HOA detail

• Monthly dues: $806 · $9,672/yr

Listing history 9 events

1. 2026-04-02
   historical
2. 2026-04-02
   listed $66,500
3. 2025-04-24
   listed $82,500 Active
4. 2021-01-08
   historical
5. 2021-01-07
   historical
6. 2020-01-24
   listed $157,000 Active
7. 2019-01-07
   listed $157,000
8. 2007-06-26
   soldstatus $234,000
9. 2005-06-16
   listed $234,000

ⓘ 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: $37,331
• − Mortgage interest: −$3,725
• − Property taxes: −$998
• − Insurance: −$332
• − Repairs & maintenance: −$2,986
• − Management: −$2,986
• − HOA: −$9,672
• − Depreciation: −$1,935
• Taxable income: $14,696
• Est. tax owed @ 24.0%: −$3,527
• After-tax cash flow: $10,777/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 — Destin

• Score: 79/100
• State rank: #158
• US rank: #2247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Destin, FL
• County: Okaloosa County · 194,352 people
• City population: 18,855
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 18,855
• Household income: $95,124
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 554.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 7% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 6% Russian/Polish/Slavic 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: ▼ -147.89%
• Current HPI: 252.6715
• Rent YoY: ▲ 3.68%
• 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

-71.6% since first listed

9 events — show timeline

• 2026-04-02 Listed $66,500 ECAR
• 2026-04-02 Delisted — ECAR
• 2025-04-24 Listed $82,500 ECAR
• 2021-01-08 Delisted — ECAR
• 2021-01-07 Listing Removed — NAMLS
• 2020-01-24 Listed $157,000 ECAR
• 2019-01-07 Listed $157,000 NAMLS
• 2007-06-26 Sold (MLS) $234,000 ECAR
• 2005-06-16 Listed $234,000 ECAR