6 SE Okahatchee Cir · Fort Walton Beach, FL 32548

$205,000

3 bd · 1.0 ba · 985 sqft · SingleFamily public records · 9 Days on market

Built 1950 9,583 sqft lot $208/sqft · 20% below area Est $256k · 20% under

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Why this score? — see what drove the C- 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 +13.9/30.0
• Schools +5.2/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Multiple Offers * * We are requesting Highest and Best to be submitted by Friday 5/15 at 12:00 noon. Perfect investor/rehab opportunity in Elliott Point. Charming 3-bedroom, 1-bath block home with strong potential and upside. Spacious backyard with room to relax or entertain. Prime location--just a short golf cart ride to the Fort Walton Beach Yacht Club, all of the amenities at Ferry Park, and the Landing. Great value in a sought-after area. Come see it today!

Key facts

• 9,583 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• HOA & community: Subdivision: Elliotts Point Resub

Exterior

• Parking: Attached garage with 1 garage space; Driveway with space for 2 cars
• Utilities: Public water; Public sewer; Electric service
• Home design: Ranch-style home; 1 story; Facing direction not specified; Single-family zoning
• Construction: Block construction; Shingle roof; Built in 1950
• Exterior features: Privacy fencing; Within 1/2 mile to water; City street frontage; Access via paved city road

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 3 bedrooms (all on the first floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Central heating; Central air conditioning; Electric water heater; 5 total rooms
• Laundry & utility: Electric water heater noted under appliances

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $21 ($250/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (12.4% below list).
• Recommended offer: $180k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 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.
• Zoned schools: Elliott Point Elementary School (math 38% / reading 51%, grade F, #1,288 of 2,144 statewide, top 62%, 597 students, 70% FRL); Choctawhatchee Senior High School (math 42% / reading 50%, grade D-, #220 of 667 statewide, top 33%, 1,677 students, 52% FRL) — zoned schools average 61% FRL vs 36% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 45% at this address vs 60% district-wide (-15 pts) — the specific schools serving this property underperform the Okaloosa average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 345 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 33% 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 $1k of loan paydown is wiped out by about $6k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $55k; list at $205k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $179,602 (12.4% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.88% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 9.5

CMA / ARV

• ARV (median comp): $256,138
• List price: $205,000
• Delta: -19.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Magnolia Ave	0.47mi	3/1.0	960 (-2%)	0mo	$185,000	$193	73
348 NE Gardner Dr	0.35mi	3/1.0	1,052 (+7%)	3mo	$225,000	$214	70
79 NE Laurie Dr	0.44mi	3/1.0	1,032 (+5%)	10mo	$259,000	$251	63
40 NE Laurie Dr	0.48mi	3/1.0	1,012 (+3%)	12mo	$289,900	$286	63
52 NE Laurie Dr	0.51mi	2/2.0 (-1)	1,000 (+2%)	6mo	$425,000	$425	60
48 NE Laurie Dr	0.51mi	3/1.0	1,102 (+12%)	9mo	$200,000	$181	49
213 NE Staff Dr	0.64mi	3/2.0	1,126 (+14%)	21mo	$225,000	$200	25

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: -17.5%
• Equity multiple: 0.39×
• Total profit: $-34,844
• Equity at exit: $30,566

10-year hold

• IRR: -12.9%
• Equity multiple: 0.30×
• Total profit: $-40,348
• Equity at exit: $17,725

Cash invested: $57,400 (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: 345
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$238 /mo · $2,851/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $21

Break-even live

Break-even rent $1,770

Max offer price $205,000

Occupancy floor 94%

Sensitivity live

Price	-10% $137	-5% $79	+0% $21	+5% $-37	+10% $-95
Rent	-10% $-121	-5% $-50	+0% $21	+5% $92	+10% $163
Rate	-1.0pp $124	-0.5pp $73	base $21	+0.5pp $-32	+1.0pp $-86

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Laurie Dr NE Fort Walton Beach, FL	3.0	1.5	1064	$1,800	$1.69	22d	1	0.42mi
107 Magnolia Ave SE Fort Walton Beach, FL	3.0	1.0	1106	$1,700	$1.54	14d	1	0.48mi
128 Elm Ave SE Fort Walton Beach, FL	2.0	1.0	960	$1,500	$1.56	22d	1	0.51mi
36 Alder Ave SE #3 Fort Walton Beach, FL	2.0	2.5	1061	$1,800	$1.70	45d	1	0.59mi
208 Oak St SE Unit B Fort Walton Beach, FL	2.0	1.5	1008	$1,650	$1.64	22d	1	0.61mi
133 Alder Ave SE Fort Walton Beach, FL	2.0	1.0	1031	$1,500	$1.45	45d	1	0.64mi
159 Scottwood Dr SE Fort Walton Beach, FL	2.0	2.0	1104	$1,400	$1.27	45d	1	0.69mi
165 Brooks St SE Fort Walton Beach, FL	2.0	1.0	900	$1,850	$2.06	14d	1	0.99mi
115 Hughes St NE Unit D2 Fort Walton Beach, FL	2.0	1.0	1066	$1,900	$1.78	22d	1	1.07mi
140 Opp Blvd NE Fort Walton Beach, FL	2.0	1.5	896	$1,750	$1.95	45d	1	1.14mi
330 Bluefish Dr #103 Fort Walton Beach, FL	2.0	2.0	1100	$2,500	$2.27	45d	1	1.17mi
101 Church Ave SE Unit 204 Fort Walton Beach, FL	2.0	1.0	945	$1,676	$1.77	45d	1	1.20mi
103 Church Ave SE Unit B Fort Walton Beach, FL	2.0	1.0	930	$1,300	$1.40	22d	1	1.21mi

Listing history 5 events

1. 2026-05-16
   status Pending 472-char remark
2. 2026-05-07
   listed $205,000 Active 472-char remark
3. 2000-06-29
   soldstatus $54,900
4. 2000-06-29
   soldstatus $54,900
5. 1977-01-01
   soldstatus $10,687

ⓘ 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: $2,851 · $238/mo
• Projected year-2 tax: $2,851 · $238/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 6/10 Major FEMA zone X (shaded) · 57% 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,552
• − Mortgage interest: −$11,483
• − Property taxes: −$2,851
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$5,964
• Taxable loss: −$3,219
• Est. tax savings @ 24.0%: +$772
• After-tax cash flow: $1,023/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

+1818.2% since first listed

5 events — show timeline

• 2026-05-16 Pending — ECAR
• 2026-05-07 Listed $205,000 ECAR
• 2000-06-29 Sold (Public Records) $54,900 Public Records
• 2000-06-29 Sold (Public Records) $54,900 Public Records
• 1977-01-01 Sold (Public Records) $10,687 Public Records

Property tax history

+17.2%/yr

Latest (2025): $2,851 · +13.8% YoY. Source: county tax records.