10 Harbor Blvd Unit E703F · Destin, FL 32541

$40,000

2 bd · 2.0 ba · 1,249 sqft · Timeshare

Built 2007 Est $30k · 33% over $609/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 +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

***RENTAL INCOME OVER $12,000*** Your chance to own a slice of paradise with all the income and none of the headache! Offering 6 weeks per year of fractional ownership at the highly sought-after Emerald Grande resort! 2 BEDROOMS + BUNK ROOM WITH DOOR - ALL CARPET BEING REPLACED WITH LVP IN JANUARY BY THE RESORT. This beautiful, harbor front condominium offers amenities that are unmatched across the Emerald Coast - private beach access, bay, harbor and gulf views, onsite restaurant, spa and fitness center, HarborWalk Village just steps away, and SO much more! You'll receive 6 weeks of usage per year based on the annual fractional ownership calendar - use these weeks for well needed vacations or rent them out for a great return. Maintenance/cleaning handled by onsite staff-included in dues.

Key facts

• $609 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath timeshare listed at $40k.

Deal economics

• At list price, monthly cash flow is $964 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 35.2% 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); 910 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k 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 $11k 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.
• 4 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.
• Current owner paid $31k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $40,000

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: 5.85% ✓
• Cap rate: 35.20%
• Cash-on-cash: 103.25%
• DSCR: 5.59
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $29,976
• 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 E303G	0.00mi	2/2.0	1,249 (0%)	11mo	$30,000	$24	91
10 HARBOR Blvd Unit E601G	0.00mi	2/2.0	1,249 (0%)	12mo	$30,000	$24	90
10 Harbor Blvd Unit E903A	0.00mi	2/2.0	1,249 (0%)	12mo	$35,000	$28	90
10 HARBOR Blvd Unit E702B	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 HARBOR Blvd Unit E702C	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 HARBOR Blvd Unit E702D	0.00mi	2/2.0	1,249 (0%)	14mo	$27,000	$22	89
10 HARBOR Blvd Unit E702E	0.00mi	2/2.0	1,249 (0%)	14mo	$25,000	$20	89
10 Harbor Blvd Unit E302E	0.00mi	2/2.0	1,249 (0%)	14mo	$28,000	$22	89
10 HARBOR Blvd Unit E601C	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 HARBOR Blvd Unit E601D	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 Harbor Blvd Unit E304C	0.00mi	2/2.0	1,220 (-2%)	12mo	$30,000	$25	86
10 Harbor Blvd Unit E404D	0.00mi	2/2.0	1,220 (-2%)	14mo	$28,000	$23	85

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: —
• Equity multiple: 6.08×
• Total profit: $56,916
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 13.23×
• Total profit: $136,965
• Equity at exit: $3,458

Cash invested: $11,200 (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: 910
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$609
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $964

Break-even live

Break-even rent $1,121

Max offer price $40,000

Occupancy floor 54%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Gulf Shore Dr #104 Destin, FL	2.0	2.0	1100	$3,200	$2.91	44d	1	0.40mi
234 Pelican Pl Destin, FL	2.0	2.5	1332	$2,100	$1.58	44d	1	0.52mi
235 Pelican Pl #11 Destin, FL	2.0	2.5	1465	$2,400	$1.64	44d	1	0.60mi
197 Durango Rd Destin, FL	2.0	1.0	852	$2,700	$3.17	21d	1	0.87mi
485 Gulf Shore Dr #101 Destin, FL	1.0	1.0	700	$2,500	$3.57	44d	1	0.92mi
204 Ann Cir Unit C Destin, FL	2.0	1.0	1000	$1,550	$1.55	44d	1	1.36mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,450	$1.61	21d	1	1.39mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,600	$1.78	44d	1	1.39mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,750	$2.06	13d	1	1.42mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,800	$2.12	44d	1	1.42mi
150 Bent Arrow Dr Destin, FL	3.0	2.5	1440	$2,250	$1.56	44d	1	1.48mi
22 Moreno Point Rd Unit 1285898P Destin, FL	2.0	2.5	1065	$3,068	$2.88	13d	1	1.49mi
22 Moreno Point Rd #12 Destin, FL	3.0	2.5	1236	$3,295	$2.67	44d	1	1.49mi

HOA detail

• Monthly dues: $609 · $7,308/yr
• Likely covers: gym

Listing history 10 events

1. 2026-05-26
   historical
2. 2026-05-21
   listed $40,000
3. 2025-01-15
   soldstatus $31,000 Sold 799-char remark

   Show marketing remark (799 chars)

   ***RENTAL INCOME OVER $12,000*** Your chance to own a slice of paradise with all the income and none of the headache! Offering 6 weeks per year of fractional ownership at the highly sought-after Emerald Grande resort! 2 BEDROOMS + BUNK ROOM WITH DOOR - ALL CARPET BEING REPLACED WITH LVP IN JANUARY BY THE RESORT. This beautiful, harbor front condominium offers amenities that are unmatched across the Emerald Coast - private beach access, bay, harbor and gulf views, onsite restaurant, spa and fitness center, HarborWalk Village just steps away, and SO much more! You'll receive 6 weeks of usage per year based on the annual fractional ownership calendar - use these weeks for well needed vacations or rent them out for a great return. Maintenance/cleaning handled by onsite staff-included in dues.

4. 2024-12-11
   status Pending 799-char remark

   Show marketing remark (799 chars)

   ***RENTAL INCOME OVER $12,000*** Your chance to own a slice of paradise with all the income and none of the headache! Offering 6 weeks per year of fractional ownership at the highly sought-after Emerald Grande resort! 2 BEDROOMS + BUNK ROOM WITH DOOR - ALL CARPET BEING REPLACED WITH LVP IN JANUARY BY THE RESORT. This beautiful, harbor front condominium offers amenities that are unmatched across the Emerald Coast - private beach access, bay, harbor and gulf views, onsite restaurant, spa and fitness center, HarborWalk Village just steps away, and SO much more! You'll receive 6 weeks of usage per year based on the annual fractional ownership calendar - use these weeks for well needed vacations or rent them out for a great return. Maintenance/cleaning handled by onsite staff-included in dues.

5. 2024-10-12
   listed $35,000 Active 799-char remark

   Show marketing remark (799 chars)

   ***RENTAL INCOME OVER $12,000*** Your chance to own a slice of paradise with all the income and none of the headache! Offering 6 weeks per year of fractional ownership at the highly sought-after Emerald Grande resort! 2 BEDROOMS + BUNK ROOM WITH DOOR - ALL CARPET BEING REPLACED WITH LVP IN JANUARY BY THE RESORT. This beautiful, harbor front condominium offers amenities that are unmatched across the Emerald Coast - private beach access, bay, harbor and gulf views, onsite restaurant, spa and fitness center, HarborWalk Village just steps away, and SO much more! You'll receive 6 weeks of usage per year based on the annual fractional ownership calendar - use these weeks for well needed vacations or rent them out for a great return. Maintenance/cleaning handled by onsite staff-included in dues.

6. 2019-08-21
   soldstatus $44,000 602-char remark

   Show marketing remark (602 chars)

   Fractional Ownership. Share F for sale. 6 Weeks of Uusage each year. Two bedroom plus an additional bunk room and can sleep up to 8 guests. Some of the best views on the Emerald Coast. Water views include the East Pass, Destin Bridge, Crab Island and the Gulf of Mexico. Amenities galore include The Spa at Emerald Grande offering 11 treatment rooms for individual and couple treatments, East Pass fitness center with cardiovascular equipment and free weights, water beach shuttle that will take owners to Destin's famous pristine, white beaches, 2,500 square foot Grande Vista Pool Deck,and much more.

7. 2019-08-21
   soldstatus $44,000 602-char remark

   Show marketing remark (602 chars)

   Fractional Ownership. Share F for sale. 6 Weeks of Uusage each year. Two bedroom plus an additional bunk room and can sleep up to 8 guests. Some of the best views on the Emerald Coast. Water views include the East Pass, Destin Bridge, Crab Island and the Gulf of Mexico. Amenities galore include The Spa at Emerald Grande offering 11 treatment rooms for individual and couple treatments, East Pass fitness center with cardiovascular equipment and free weights, water beach shuttle that will take owners to Destin's famous pristine, white beaches, 2,500 square foot Grande Vista Pool Deck,and much more.

8. 2015-06-17
   listed $48,950 602-char remark

   Show marketing remark (602 chars)

   Fractional Ownership. Share F for sale. 6 Weeks of Uusage each year. Two bedroom plus an additional bunk room and can sleep up to 8 guests. Some of the best views on the Emerald Coast. Water views include the East Pass, Destin Bridge, Crab Island and the Gulf of Mexico. Amenities galore include The Spa at Emerald Grande offering 11 treatment rooms for individual and couple treatments, East Pass fitness center with cardiovascular equipment and free weights, water beach shuttle that will take owners to Destin's famous pristine, white beaches, 2,500 square foot Grande Vista Pool Deck,and much more.

9. 2007-07-02
   soldstatus $186,000
10. 2005-06-13
    listed $186,000

ⓘ 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: $28,087
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − HOA: −$7,308
• − Depreciation: −$1,164
• Taxable income: $12,081
• Est. tax owed @ 24.0%: −$2,899
• After-tax cash flow: $8,664/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

-78.5% since first listed

10 events — show timeline

• 2026-05-26 Delisted — ECAR
• 2026-05-21 Listed $40,000 ECAR
• 2025-01-15 Sold (MLS) $31,000 ECAR
• 2024-12-11 Pending — ECAR
• 2024-10-12 Listed $35,000 ECAR
• 2019-08-21 Sold (MLS) $44,000 NAMLS
• 2019-08-21 Sold (MLS) $44,000 ECAR
• 2015-06-17 Listed $48,950 NAMLS
• 2007-07-02 Sold (MLS) $186,000 ECAR
• 2005-06-13 Listed $186,000 ECAR