26 Court #26 · Destin, FL 32541

$249,000

2 bd · 2.5 ba · 1,186 sqft · Townhouse · 160 Days on market

Built 1985 $210/sqft · 14% below area Est $290k · 14% under $350/mo HOA · 17% 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 +13.8/15.0
• Cash flow +6.4/30.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-located 2-bedroom, 2.5-bath townhouse in Destin Racquet Club, ideal as a primary residence or long-term rental investment. Centrally located in Destin, this home offers convenient access to shopping, dining, beaches, and entertainment. Both bedrooms feature private en-suite baths, providing comfort and privacy. The community offers a pool and well-maintained common areas. With strong long-term rental potential and a functional layout, this property is a great opportunity for homeowners or investors seeking low-maintenance living in the heart of Destin.

Key facts

• Community pool
• $350 HOA
• 2 parking spots

Tags

• PRIVATE EN-SUITE BATHS
• COMMUNITY POOL
• WELL-MAINTAINED COMMON AREAS
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING
• CONVENIENT ACCESS TO BEACHES

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $249k.

Deal economics

• At list price, monthly cash flow is $-432 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (25.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (16.7% below list).
• Recommended offer: $187k (25.1% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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); 918 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 $2k of loan paydown is wiped out by about $7k 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 160 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 12 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 $135k; list at $249k implies a 84% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,523 (25.1% 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 160 days. Have you received any prior offers? Is the seller open to a 25% 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: 0.83% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.43%
• DSCR: 0.67
• GRM: 10.0

CMA / ARV

• ARV (median comp): $289,904
• List price: $249,000
• Delta: -14.11%
• 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
27 Court Dr	0.01mi	2/2.5	1,216 (+2%)	9mo	$226,829	$187	88
12 Court Dr	0.10mi	2/2.5	1,216 (+2%)	8mo	$220,000	$181	85
10 Court Dr	0.11mi	2/2.5	1,216 (+2%)	12mo	$180,000	$148	80
154 Bayou Dr	0.56mi	2/1.5	1,162 (-2%)	1mo	$242,500	$209	66
734 Legion Dr #64	0.69mi	2/2.0	1,188 (+0%)	2mo	$235,000	$198	64
81 Pine Ridge Trce	0.51mi	1/3.0 (-1)	1,204 (+2%)	11mo	$245,000	$203	57
251 Mattie M Kelly Blvd #302	0.53mi	2/2.0	1,051 (-11%)	0mo	$179,000	$170	54
251 S Mattie M Kelly Blvd #306	0.53mi	2/2.0	1,051 (-11%)	3mo	$219,000	$208	52
251 Mattie M Kelly Blvd #205	0.53mi	2/2.0	1,051 (-11%)	4mo	$200,000	$190	51
162 Knots Pl	0.63mi	2/2.0	1,124 (-5%)	12mo	$275,000	$245	50
8 Pine Ridge Trce	0.72mi	2/1.5	1,261 (+6%)	11mo	$225,000	$178	43
15 Pine Ridge Trce	0.73mi	2/1.5	1,261 (+6%)	12mo	$350,000	$278	42

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: -28.2%
• Equity multiple: 0.05×
• Total profit: $-66,172
• Equity at exit: $37,127

10-year hold

• IRR: -23.8%
• Equity multiple: -0.23×
• Total profit: $-86,085
• Equity at exit: $21,529

Cash invested: $69,720 (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 32541

• Rents YoY: 3.7%
• Active inventory: 918
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,075 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$350
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-432

Break-even live

Break-even rent $2,621

Max offer price $186,523

Occupancy floor —

Sensitivity live

Price	-10% $-260	-5% $-346	+0% $-432	+5% $-518	+10% $-604
Rent	-10% $-596	-5% $-514	+0% $-432	+5% $-350	+10% $-268
Rate	-1.0pp $-306	-0.5pp $-368	base $-432	+0.5pp $-496	+1.0pp $-562

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 Court Dr Destin, FL	2.0	2.5	1216	$2,300	$1.89	44d	1	0.03mi
2 Court Dr Destin, FL	2.0	2.5	1216	$2,000	$1.64	22d	1	0.16mi
986 Airport Rd Unit B Destin, FL	1.0	1.0	920	$1,700	$1.85	44d	1	0.23mi
1014 Airport Rd #138 Destin, FL	3.0	2.5	1440	$2,300	$1.60	44d	1	0.43mi
47 Pine Ridge Trce Destin, FL	3.0	2.0	1188	$2,900	$2.44	14d	1	0.59mi
1209 Quail Lake Blvd Destin, FL	2.0	2.5	1404	$2,000	$1.42	14d	1	0.62mi
132 Bayou Dr Destin, FL	2.0	1.5	1161	$2,200	$1.89	44d	1	0.64mi
37 Log Pl Destin, FL	2.0	1.5	1261	$1,750	$1.39	22d	1	0.65mi
734 Legion Dr #70 Destin, FL	2.0	2.0	1180	$2,099	$1.78	44d	1	0.67mi
2004-2098 Palm St Destin, FL	1.0–3.0	1.0–2.0	1061	$2,504	$2.36	14d	22	0.68mi
160 S Mattie M Kelly Blvd Destin, FL	1.0–3.0	1.0–2.0	1074	$2,198	$2.05	14d	24	0.70mi
150 Bent Arrow Dr #36 Destin, FL	3.0	2.5	1452	$2,100	$1.45	14d	1	0.76mi
150 Bent Arrow Dr #36 Destin, FL	3.0	2.5	1452	$2,100	$1.45	22d	1	0.76mi
1150 Airport Rd #145 Destin, FL	3.0	2.5	1440	$2,200	$1.53	22d	1	0.76mi
150 Bent Arrow Dr Destin, FL	3.0	2.5	1440	$2,250	$1.56	44d	1	0.84mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,800	$2.12	44d	1	0.88mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,750	$2.06	14d	1	0.88mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,450	$1.61	22d	1	0.90mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,600	$1.78	44d	1	0.90mi
204 Ann Cir Unit C Destin, FL	2.0	1.0	1000	$1,550	$1.55	44d	1	0.95mi
4070 Dancing Cloud Ct #171 Destin, FL	1.0	1.0	745	$1,575	$2.11	14d	1	1.03mi
4080 Dancing Cloud Ct #237 Destin, FL	1.0	1.0	700	$2,000	$2.86	44d	1	1.03mi
4030 Dancing Cloud Ct #346 Destin, FL	1.0	1.0	920	$1,650	$1.79	22d	1	1.03mi
4040 Dancing Cloud Ct #321 Destin, FL	1.0	1.0	920	$1,550	$1.68	14d	1	1.12mi
4040 Dancing Cloud Ct Destin, FL	1.0	1.0	945	$1,600	$1.69	44d	1	1.12mi
4040 Dancing Cloud Ct #321 Destin, FL	1.0	1.0	920	$1,550	$1.68	22d	1	1.12mi
22 Moreno Point Rd Unit 1285898P Destin, FL	2.0	2.5	1065	$3,068	$2.88	14d	1	1.17mi
22 Moreno Point Rd #12 Destin, FL	3.0	2.5	1236	$3,295	$2.67	44d	1	1.17mi
4203 Indian Bayou Trl Unit 1447163P Destin, FL	1.0	2.0	968	$2,303	$2.38	14d	1	1.31mi

HOA detail

• Monthly dues: $350 · $4,200/yr
• Likely covers: pool

Listing history 40 events

1. 2026-06-21
   days on market $249,000 Active 160 DOM
2. 2026-06-18
   days on market $249,000 Active 157 DOM
3. 2026-06-17
   days on market $249,000 Active 156 DOM
4. 2026-06-16
   days on market $249,000 Active 155 DOM
5. 2026-06-15
   days on market $249,000 Active 154 DOM
6. 2026-06-14
   remarks 636-char remark
7. 2026-06-14
   days on market $249,000 Active 152 DOM
8. 2026-06-13
   days on market $249,000 Active 151 DOM
9. 2026-06-10
   days on market $249,000 Active 149 DOM
10. 2026-06-09
    days on market $249,000 Active 148 DOM
11. 2026-06-08
    days on market $249,000 Active 147 DOM
12. 2026-06-07
    days on market $249,000 Active 146 DOM
13. 2026-06-05
    days on market $249,000 Active 143 DOM
14. 2026-06-02
    days on market $249,000 Active 141 DOM
15. 2026-06-01
    days on market $249,000 Active 140 DOM
16. 2026-05-31
    days on market $249,000 Active 139 DOM
17. 2026-05-30
    days on market $249,000 Active 138 DOM
18. 2026-01-12
    listed $249,000 Active 563-char remark

    Show marketing remark (563 chars)

    Well-located 2-bedroom, 2.5-bath townhouse in Destin Racquet Club, ideal as a primary residence or long-term rental investment. Centrally located in Destin, this home offers convenient access to shopping, dining, beaches, and entertainment. Both bedrooms feature private en-suite baths, providing comfort and privacy. The community offers a pool and well-maintained common areas. With strong long-term rental potential and a functional layout, this property is a great opportunity for homeowners or investors seeking low-maintenance living in the heart of Destin.

19. 2023-10-25
    listed $275,000 Active
20. 2018-04-26
    soldstatus $135,000
21. 2018-04-26
    soldstatus $135,000
22. 2018-03-23
    listed $135,000
23. 2016-12-22
    soldstatus $123,000
24. 2016-12-22
    soldstatus $123,000
25. 2016-11-08
    listed $126,000
26. 2016-09-26
    historical
27. 2016-08-23
    listed $126,000
28. 2016-08-23
    listed $126,000
29. 2013-04-22
    soldstatus $86,200
30. 2013-04-22
    soldstatus $86,200
31. 2013-02-24
    listed $79,900
32. 2008-04-10
    soldstatus $75,000
33. 2007-01-30
    listed $89,900
34. 2006-09-15
    historical
35. 2006-07-19
    listed $199,000
36. 2006-07-19
    listed $199,000
37. 2005-06-06
    soldstatus $215,000
38. 2005-06-06
    soldstatus $215,000
39. 2005-03-16
    listed $225,000
40. 2005-03-16
    listed $225,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,897
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − HOA: −$4,200
• − Depreciation: −$7,244
• Taxable loss: −$9,458
• Est. tax savings @ 24.0%: +$2,270
• After-tax cash flow: $-2,911/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

23 events — show timeline

• 2026-01-12 Listed $249,000 ECAR
• 2023-10-25 Listed $275,000 ECAR
• 2018-04-26 Sold (MLS) $135,000 NAMLS
• 2018-04-26 Sold (MLS) $135,000 ECAR
• 2018-03-23 Listed $135,000 NAMLS
• 2016-12-22 Sold (MLS) $123,000 NAMLS
• 2016-12-22 Sold (MLS) $123,000 ECAR
• 2016-11-08 Listed $126,000 NAMLS
• 2016-09-26 Listing Removed — NAMLS
• 2016-08-23 Listed $126,000 NAMLS
• 2016-08-23 Listed $126,000 ECAR
• 2013-04-22 Sold (MLS) $86,200 ECAR
• 2013-04-22 Sold (MLS) $86,200 NAMLS
• 2013-02-24 Listed $79,900 NAMLS
• 2008-04-10 Sold (MLS) $75,000 ECAR
• 2007-01-30 Listed $89,900 ECAR
• 2006-09-15 Listing Removed — NAMLS
• 2006-07-19 Listed $199,000 NAMLS
• 2006-07-19 Listed $199,000 ECAR
• 2005-06-06 Sold (MLS) $215,000 ECAR
• 2005-06-06 Sold (MLS) $215,000 NAMLS
• 2005-03-16 Listed $225,000 ECAR
• 2005-03-16 Listed $225,000 NAMLS