4641 Sunsail Cir · Destin, FL 32541

$548,000

3 bd · 2.0 ba · 1,590 sqft · SingleFamily public records · 146 Days on market

Built 2000 5,227 sqft lot $345/sqft · 18% below area Est $665k · 18% under $36/mo HOA · 1% 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).

• ARV discount +15.0/15.0
• Cash flow +7.1/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SUBDIVISION IS GREAT FOR THOSE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready to move into. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $420 annually. Buyer to verify all measurement and information. Motivated seller !

Key facts

• Low maintenance yard
• Fenced yard
• Community pool

Tags

• LOW MAINTENANCE YARD
• BLOCKS FROM THE BEACH
• FENCED YARD
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $548k.

Deal economics

• At list price, monthly cash flow is $-774 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $411k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $347k (36.6% below list).
• Recommended offer: $347k (36.6% below list) — sets the bar for 1% rule.
• Cap rate 4.6% 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; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 44% 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 $4k of loan paydown is wiped out by about $16k 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 146 days — a 12% lower offer ($482k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $40k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $222k; list at $548k implies a 147% 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 $347,209 (36.6% 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 146 days. Have you received any prior offers? Is the seller open to a 37% 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 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?
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: 0.63% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.06%
• DSCR: 0.73
• GRM: 13.2

CMA / ARV

• ARV (median comp): $664,911
• List price: $548,000
• Delta: -17.58%
• 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
4635 Sunsail Cir	0.03mi	3/2.0	1,753 (+10%)	13mo	$640,000	$365	71
4621 Windstarr Dr	0.10mi	3/2.0	1,422 (-11%)	8mo	$659,200	$464	71
149 Kel Wen Cir	0.41mi	3/2.0	1,653 (+4%)	11mo	$590,000	$357	65
197 Kel-Wen Cir	0.34mi	3/2.0	1,749 (+10%)	5mo	$575,000	$329	63
4663 Sunsail Cir	0.08mi	3/2.0	1,797 (+13%)	14mo	$675,000	$376	63
4624 Windstarr Dr	0.09mi	3/2.0	1,809 (+14%)	12mo	$590,000	$326	63
234 Calusa Blvd	0.46mi	3/2.5	1,460 (-8%)	5mo	$470,000	$322	59
94 Terra Cotta Way	0.73mi	3/2.0	1,554 (-2%)	10mo	$694,500	$447	54
80 Terra Cotta Way	0.73mi	3/3.0	1,644 (+3%)	7mo	$950,000	$578	51
168 Kel-Wen Cir	0.35mi	3/2.0	1,796 (+13%)	14mo	$575,000	$320	50
4508 Luke Ave	0.59mi	4/3.0 (+1)	1,755 (+10%)	4mo	$980,000	$558	43
4488 Luke Ave	0.71mi	4/3.0 (+1)	1,723 (+8%)	6mo	$861,000	$500	39

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: -26.1%
• Equity multiple: 0.11×
• Total profit: $-135,848
• Equity at exit: $81,709

10-year hold

• IRR: -21.1%
• Equity multiple: -0.12×
• Total profit: $-172,319
• Equity at exit: $47,381

Cash invested: $153,440 (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: 13.2×

Monthly cashflow live

• Estimated rent: $3,472 high
• Mortgage (P&I): −$2,874
• Tax from tax record: −$379 /mo · $4,552/yr
• Insurance: −$228
• HOA: −$36
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $-774

Break-even live

Break-even rent $4,452

Max offer price $411,187

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: $137,000
• Closing costs: $16,440
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4657 Windstarr Dr Unit 1285936P Destin, FL	4.0	2.0	1625	$3,340	$2.06	13d	1	0.09mi
4618 Windstarr Dr Unit 1285903P Destin, FL	3.0	2.0	1496	$5,241	$3.50	21d	1	0.11mi
251 Vinings Way Blvd Destin, FL	2.0–3.0	1.0–2.0	1147	$2,326	$2.03	13d	12	0.25mi
231 Calusa Blvd Destin, FL	3.0	3.0	1900	$3,000	$1.58	43d	1	0.48mi
4691 Amhurst Cir Destin, FL	4.0	2.5	2030	$3,200	$1.58	13d	1	0.52mi
4507 Furling Ln Destin, FL	2.0–3.0	2.0–3.0	1707	$2,200	$1.29	43d	3	0.53mi
4507 Furling Ln Destin, FL	2.0–3.0	2.0–3.0	1616	$2,200	$1.36	21d	3	0.53mi
4485 Clipper Cv Unit 1285890P Destin, FL	3.0	2.0	1754	$4,199	$2.39	21d	1	0.64mi
4496 Luke Ave Unit 1354367P Destin, FL	3.0	3.0	1463	$2,422	$1.66	13d	1	0.65mi
4465 Clipper Cv Unit 1285888P Destin, FL	3.0	3.0	1593	$6,185	$3.88	13d	1	0.73mi
108 Mantero Way Destin, FL	3.0	2.0	1502	$2,700	$1.80	13d	1	0.74mi
4765 Calatrava Ct Unit 1285934P Destin, FL	3.0	2.0	1291	$4,018	$3.11	21d	1	0.78mi
28 Aquamarine Cv Unit 1285923P Destin, FL	3.0	2.0	1646	$3,090	$1.88	13d	1	0.91mi
75 Secret Harbor Dr Unit 1285885P Miramar Beach, FL	3.0	2.0	1474	$3,840	$2.61	13d	1	1.02mi
115 Secret Harbor Dr Miramar Beach, FL	4.0	2.0	2000	$2,995	$1.50	13d	1	1.03mi
82 Mark St Unit 1285919P Destin, FL	4.0	3.0	2249	$5,830	$2.59	21d	1	1.08mi
261 Sandy Cay Dr Miramar Beach, FL	4.0	2.0	1869	$4,850	$2.59	21d	1	1.16mi

HOA detail

• Monthly dues: $36 · $432/yr
• Likely covers: pool

Listing history 28 events

1. 2026-06-18
   days on market $548,000 Active 146 DOM
2. 2026-06-17
   days on market $548,000 Active 145 DOM
3. 2026-06-16
   days on market $548,000 Active 144 DOM
4. 2026-06-15
   days on market $548,000 Active 143 DOM
5. 2026-06-14
   days on market $548,000 Active 141 DOM
6. 2026-06-13
   days on market $548,000 Active 140 DOM
7. 2026-06-10
   days on market $548,000 Active 138 DOM
8. 2026-06-09
   days on market $548,000 Active 137 DOM
9. 2026-06-08
   days on market $548,000 Active 136 DOM
10. 2026-06-07
    days on market $548,000 Active 135 DOM
11. 2026-06-05
    days on market $548,000 Active 132 DOM
12. 2026-06-02
    days on market $548,000 Active 130 DOM
13. 2026-06-01
    days on market $548,000 Active 129 DOM
14. 2026-05-31
    days on market $548,000 Active 128 DOM
15. 2026-05-30
    days on market $548,000 Active 127 DOM
16. 2026-04-22
    price $548,000 501-char remark

    Show marketing remark (501 chars)

    SUBDIVISION IS GREAT FOR THOSE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready to move into. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $420 annually. Buyer to verify all measurement and information. Motivated seller !

17. 2026-03-26
    price $568,000 501-char remark

    Show marketing remark (501 chars)

    SUBDIVISION IS GREAT FOR THOSE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready to move into. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $420 annually. Buyer to verify all measurement and information. Motivated seller !

18. 2026-01-23
    listed $588,000 Active 501-char remark

    Show marketing remark (501 chars)

    SUBDIVISION IS GREAT FOR THOSE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready to move into. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $420 annually. Buyer to verify all measurement and information. Motivated seller !

19. 2024-11-27
    historical $2,600
20. 2024-11-19
    price $2,600
21. 2024-11-06
    price $2,700
22. 2024-08-14
    listed $2,850
23. 2008-04-17
    soldstatus $222,000
24. 2008-04-15
    soldstatus $222,000 785-char remark

    Show marketing remark (785 chars)

    SHORT SALE! LENDER TO APPROVE ALL OFFERS AND ALL THE RULES OF SHORT SALES APPLY. Bring preapporval letter and an EMD of $1,000.00. Have worked with lender already on getting a short sale apporval. Bring me an offer in writinmg today!! SUBDIVISION GREAT FOR FAMILY OR COUPLE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready for new owners. A one year home warranty is being provided by the seller. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $264 annually. Buyer to verify all measurement and information.

25. 2008-04-15
    soldstatus $222,000 785-char remark

    Show marketing remark (785 chars)

    SHORT SALE! LENDER TO APPROVE ALL OFFERS AND ALL THE RULES OF SHORT SALES APPLY. Bring preapporval letter and an EMD of $1,000.00. Have worked with lender already on getting a short sale apporval. Bring me an offer in writinmg today!! SUBDIVISION GREAT FOR FAMILY OR COUPLE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready for new owners. A one year home warranty is being provided by the seller. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $264 annually. Buyer to verify all measurement and information.

26. 2007-03-05
    listed $249,000 785-char remark

    Show marketing remark (785 chars)

    SHORT SALE! LENDER TO APPROVE ALL OFFERS AND ALL THE RULES OF SHORT SALES APPLY. Bring preapporval letter and an EMD of $1,000.00. Have worked with lender already on getting a short sale apporval. Bring me an offer in writinmg today!! SUBDIVISION GREAT FOR FAMILY OR COUPLE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready for new owners. A one year home warranty is being provided by the seller. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $264 annually. Buyer to verify all measurement and information.

27. 2007-03-05
    listed $249,000 785-char remark

    Show marketing remark (785 chars)

    SHORT SALE! LENDER TO APPROVE ALL OFFERS AND ALL THE RULES OF SHORT SALES APPLY. Bring preapporval letter and an EMD of $1,000.00. Have worked with lender already on getting a short sale apporval. Bring me an offer in writinmg today!! SUBDIVISION GREAT FOR FAMILY OR COUPLE LOOKING FOR A LOW MAINTENANCE YARD. Location, Location, Location. Just blocks from the beach and Destin Commons. Quiet subdivision in convenient location. 3 bedroom home with fenced yard. This home built in 2000, is in very good condition and is ready for new owners. A one year home warranty is being provided by the seller. Sunsail has a community pool for that relaxing dip before or after shopping or swimming in the Gulf. Very low HOA fees of $264 annually. Buyer to verify all measurement and information.

28. 1997-01-01
    soldstatus $495,000

ⓘ 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: $4,552 · $379/mo
• Projected year-2 tax: $4,552 · $379/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 ≥103°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,665
• − Mortgage interest: −$30,697
• − Property taxes: −$4,552
• − Insurance: −$2,740
• − Repairs & maintenance: −$3,333
• − Management: −$3,333
• − HOA: −$432
• − Depreciation: −$15,942
• Taxable loss: −$19,363
• Est. tax savings @ 24.0%: +$4,647
• After-tax cash flow: $-4,646/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

+10.7% since first listed

13 events — show timeline

• 2026-04-22 Price Changed $548,000 ECAR
• 2026-03-26 Price Changed $568,000 ECAR
• 2026-01-23 Listed $588,000 ECAR
• 2024-11-27 Rental Removed $2,600 Avail
• 2024-11-19 Price Changed $2,600 Avail
• 2024-11-06 Price Changed $2,700 Avail
• 2024-08-14 Listed for Rent $2,850 Avail
• 2008-04-17 Sold (Public Records) $222,000 Public Records
• 2008-04-15 Sold (MLS) $222,000 NAMLS
• 2008-04-15 Sold (MLS) $222,000 ECAR
• 2007-03-05 Listed $249,000 NAMLS
• 2007-03-05 Listed $249,000 ECAR
• 1997-01-01 Sold (Public Records) $495,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $4,552 · +0.4% YoY. Source: county tax records.