200 White St Unit 6 · Niceville, FL 32578

$229,000

2 bd · 2.0 ba · 1,003 sqft · Townhouse public records · 148 Days on market

Built 1986 $228/sqft · at area comps Est $239k · at est. $98/mo HOA · 5% of rent

---

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 +12.7/30.0
• ARV discount +9.3/15.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now offering 5K in closing costs for any buyer. This property is highly recommended for viewing. It has been completely remodeled and is ready for immediate occupancy, with all updates completed for the convenience of the new owner. The residence offers the added benefit of an available boat slip. The assumable VA loan features an exceptional interest rate of 3.2% or you have the option to purchase without assuming the VA loan. Prospective owners can enjoy this two-bedroom, two-bathroom unit with water access, located in a safe and peaceful neighborhood. Renovations include new paint throughout, upgraded baseboards, flooring, ceiling fans, recessed lighting, and stainless steel appliances. Both bathrooms feature updated plumbing, granite countertops, new decking, toilets and tubs, improved hardware and enhanced lighting. The shower walls have been elegantly tiled, among many additional improvements. Residents may savor their morning coffee while overlooking the bayou from the private back deck, or take leisurely walks to the dock to observe dolphins and birds in their natural habitat. This exceptional retreat provides an opportunity to make nature's paradise your own backyard. Insurance was $1431.00 in 2025. No flood insurance required.

Key facts

• Available boat slip
• Completely remodeled
• New paint

Tags

• COMPLETELY REMODELED
• AVAILABLE BOAT SLIP
• WATER ACCESS
• NEW PAINT
• UPGRADED BASEBOARDS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $229k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (12.6% below list).
• Recommended offer: $200k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.0% in Niceville — 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 (#147 in FL, #2,207 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute 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.
• Market conditions: Rents soft (-0.4%/yr); 343 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 148 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago; this cycle's ask is 12278% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $154k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $200,195 (12.6% 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 148 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.87% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (median comp): $238,791
• List price: $229,000
• Delta: -4.10%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 White St #2	0.02mi	2/2.0	1,003 (0%)	7mo	$235,000	$234	94
200 White St #8	0.01mi	2/2.0	1,003 (0%)	12mo	$228,000	$227	89

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-48,615
• Equity at exit: $34,145

10-year hold

• IRR: -28.1%
• Equity multiple: -0.12×
• Total profit: $-72,034
• Equity at exit: $19,800

Cash invested: $64,120 (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 32578

• Home prices YoY: -2.5%
• Rents YoY: -0.4%
• Active inventory: 343
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,002 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$211 /mo · $2,528/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$98
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-90

Break-even live

Break-even rent $2,116

Max offer price $213,121

Occupancy floor 99%

Sensitivity live

Price	-10% $40	-5% $-25	+0% $-90	+5% $-155	+10% $-220
Rent	-10% $-248	-5% $-169	+0% $-90	+5% $-11	+10% $68
Rate	-1.0pp $25	-0.5pp $-32	base $-90	+0.5pp $-149	+1.0pp $-210

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1717 26th St Niceville, FL	3.0	2.0	1484	$1,895	$1.28	45d	1	0.35mi
225 Hudson Boyd Ct Niceville, FL	2.0	2.0	1118	$2,200	$1.97	15d	1	0.65mi
1755 Union Ave #14 Niceville, FL	3.0	2.5	1317	$2,200	$1.67	23d	1	0.66mi
454 Reeves St Niceville, FL	2.0	2.0	1118	$2,100	$1.88	45d	1	0.68mi
912 Nutmeg Ave Niceville, FL	3.0	2.0	1118	$2,100	$1.88	45d	1	1.05mi
912 Nutmeg Ave Niceville, FL	3.0	2.0	1118	$2,100	$1.88	15d	1	1.05mi
300 Yacht Club Dr Niceville, FL	2.0	1.0	1100	$2,400	$2.18	15d	1	1.13mi
1856 Shay-Lin Ct Unit B8 Niceville, FL	2.0	2.5	993	$1,700	$1.71	45d	1	1.27mi
1871 Shay Lin Ct Niceville, FL	2.0	1.5	998	$1,700	$1.70	45d	1	1.30mi
4270 Calinda Ln Niceville, FL	2.0	2.0	1039	$1,950	$1.88	15d	2	1.40mi
4276 Calinda Ln Niceville, FL	1.0–2.0	1.0–2.0	906	$1,700	$1.88	23d	2	1.41mi
4274 Calinda Ln Niceville, FL	1.0	1.0	750	$1,622	$2.16	15d	1	1.41mi
4276 Calinda Ln Niceville, FL	1.0–2.0	1.0–2.0	962	$1,900	$1.97	45d	5	1.41mi

HOA detail

• Monthly dues: $98 · $1,176/yr
• Likely covers: water

Listing history 36 events

1. 2026-06-21
   days on market $229,000 Active 148 DOM
2. 2026-06-18
   days on market $229,000 Active 145 DOM
3. 2026-06-17
   days on market $229,000 Active 144 DOM
4. 2026-06-16
   days on market $229,000 Active 143 DOM
5. 2026-06-15
   days on market $229,000 Active 142 DOM
6. 2026-06-14
   days on market $229,000 Active 140 DOM
7. 2026-06-13
   days on market $229,000 Active 139 DOM
8. 2026-06-10
   days on market $229,000 Active 137 DOM
9. 2026-06-09
   days on market $229,000 Active 136 DOM
10. 2026-06-08
    days on market $229,000 Active 135 DOM
11. 2026-06-07
    days on market $229,000 Active 134 DOM
12. 2026-06-05
    days on market $229,000 Active 131 DOM
13. 2026-06-02
    pricedays on market $229,000 Active 129 DOM
14. 2026-06-01
    days on market $239,000 Active 128 DOM
15. 2026-05-31
    days on market $239,000 Active 127 DOM
16. 2026-05-30
    days on market $239,000 Active 126 DOM
17. 2026-05-04
    price $239,000 1256-char remark

    Show marketing remark (1256 chars)

    Now offering 5K in closing costs for any buyer. This property is highly recommended for viewing. It has been completely remodeled and is ready for immediate occupancy, with all updates completed for the convenience of the new owner. The residence offers the added benefit of an available boat slip. The assumable VA loan features an exceptional interest rate of 3.2% or you have the option to purchase without assuming the VA loan. Prospective owners can enjoy this two-bedroom, two-bathroom unit with water access, located in a safe and peaceful neighborhood. Renovations include new paint throughout, upgraded baseboards, flooring, ceiling fans, recessed lighting, and stainless steel appliances. Both bathrooms feature updated plumbing, granite countertops, new decking, toilets and tubs, improved hardware and enhanced lighting. The shower walls have been elegantly tiled, among many additional improvements. Residents may savor their morning coffee while overlooking the bayou from the private back deck, or take leisurely walks to the dock to observe dolphins and birds in their natural habitat. This exceptional retreat provides an opportunity to make nature's paradise your own backyard. Insurance was $1431.00 in 2025. No flood insurance required.

18. 2026-04-21
    listed $1,850
19. 2026-04-13
    status Active 1256-char remark

    Show marketing remark (1256 chars)

    Now offering 5K in closing costs for any buyer. This property is highly recommended for viewing. It has been completely remodeled and is ready for immediate occupancy, with all updates completed for the convenience of the new owner. The residence offers the added benefit of an available boat slip. The assumable VA loan features an exceptional interest rate of 3.2% or you have the option to purchase without assuming the VA loan. Prospective owners can enjoy this two-bedroom, two-bathroom unit with water access, located in a safe and peaceful neighborhood. Renovations include new paint throughout, upgraded baseboards, flooring, ceiling fans, recessed lighting, and stainless steel appliances. Both bathrooms feature updated plumbing, granite countertops, new decking, toilets and tubs, improved hardware and enhanced lighting. The shower walls have been elegantly tiled, among many additional improvements. Residents may savor their morning coffee while overlooking the bayou from the private back deck, or take leisurely walks to the dock to observe dolphins and birds in their natural habitat. This exceptional retreat provides an opportunity to make nature's paradise your own backyard. Insurance was $1431.00 in 2025. No flood insurance required.

20. 2026-02-20
    price $249,000 1256-char remark

    Show marketing remark (1256 chars)

    Now offering 5K in closing costs for any buyer. This property is highly recommended for viewing. It has been completely remodeled and is ready for immediate occupancy, with all updates completed for the convenience of the new owner. The residence offers the added benefit of an available boat slip. The assumable VA loan features an exceptional interest rate of 3.2% or you have the option to purchase without assuming the VA loan. Prospective owners can enjoy this two-bedroom, two-bathroom unit with water access, located in a safe and peaceful neighborhood. Renovations include new paint throughout, upgraded baseboards, flooring, ceiling fans, recessed lighting, and stainless steel appliances. Both bathrooms feature updated plumbing, granite countertops, new decking, toilets and tubs, improved hardware and enhanced lighting. The shower walls have been elegantly tiled, among many additional improvements. Residents may savor their morning coffee while overlooking the bayou from the private back deck, or take leisurely walks to the dock to observe dolphins and birds in their natural habitat. This exceptional retreat provides an opportunity to make nature's paradise your own backyard. Insurance was $1431.00 in 2025. No flood insurance required.

21. 2026-01-11
    listed $259,000 Active 1256-char remark

    Show marketing remark (1256 chars)

    Now offering 5K in closing costs for any buyer. This property is highly recommended for viewing. It has been completely remodeled and is ready for immediate occupancy, with all updates completed for the convenience of the new owner. The residence offers the added benefit of an available boat slip. The assumable VA loan features an exceptional interest rate of 3.2% or you have the option to purchase without assuming the VA loan. Prospective owners can enjoy this two-bedroom, two-bathroom unit with water access, located in a safe and peaceful neighborhood. Renovations include new paint throughout, upgraded baseboards, flooring, ceiling fans, recessed lighting, and stainless steel appliances. Both bathrooms feature updated plumbing, granite countertops, new decking, toilets and tubs, improved hardware and enhanced lighting. The shower walls have been elegantly tiled, among many additional improvements. Residents may savor their morning coffee while overlooking the bayou from the private back deck, or take leisurely walks to the dock to observe dolphins and birds in their natural habitat. This exceptional retreat provides an opportunity to make nature's paradise your own backyard. Insurance was $1431.00 in 2025. No flood insurance required.

22. 2025-11-03
    historical $1,800
23. 2025-11-03
    listed $260,000 Active
24. 2025-10-10
    listed $1,800
25. 2025-10-01
    historical $1,850
26. 2025-09-19
    price $1,850
27. 2025-08-31
    price $1,900
28. 2025-07-18
    price $2,000
29. 2025-06-14
    listed $2,100
30. 2019-11-15
    soldstatus $154,000
31. 2019-11-12
    soldstatus $154,000
32. 2019-11-12
    soldstatus $154,000
33. 2019-07-12
    listed $158,900
34. 2017-06-26
    historical
35. 2017-05-08
    listed $84,995
36. 2005-09-21
    soldstatus $99,000

ⓘ 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: $2,528 · $211/mo
• Projected year-2 tax: $2,528 · $211/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 7/10 Severe FEMA zone X (shaded) · 92% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,023
• − Mortgage interest: −$12,828
• − Property taxes: −$2,528
• − Insurance: −$1,942
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − HOA: −$1,176
• − Depreciation: −$6,662
• Taxable loss: −$4,956
• Est. tax savings @ 24.0%: +$1,189
• After-tax cash flow: $111/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 — Niceville

• Score: 79/100
• State rank: #147
• US rank: #2207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Niceville, FL
• County: Okaloosa County · 194,352 people
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 34,738
• Household income: $108,972
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 660.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Hispanic / Latino 8% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Serbian 3% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% Other Asian/Pacific 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: ▼ -12.87%
• Current HPI: 498.41
• Rent YoY: ▼ -0.36%
• 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

+141.4% since first listed

20 events — show timeline

• 2026-05-04 Price Changed $239,000 ECAR
• 2026-04-21 Listed for Rent $1,850 ECAR
• 2026-04-13 Relisted — ECAR
• 2026-02-20 Price Changed $249,000 ECAR
• 2026-01-11 Listed $259,000 ECAR
• 2025-11-03 Rental Removed $1,800 ECAR
• 2025-11-03 Listed $260,000 ECAR
• 2025-10-10 Listed for Rent $1,800 ECAR
• 2025-10-01 Rental Removed $1,850 ECAR
• 2025-09-19 Price Changed $1,850 ECAR
• 2025-08-31 Price Changed $1,900 ECAR
• 2025-07-18 Price Changed $2,000 ECAR
• 2025-06-14 Listed for Rent $2,100 ECAR
• 2019-11-15 Sold (Public Records) $154,000 Public Records
• 2019-11-12 Sold (MLS) $154,000 NAMLS
• 2019-11-12 Sold (MLS) $154,000 ECAR
• 2019-07-12 Listed $158,900 NAMLS
• 2017-06-26 Listing Removed — NAMLS
• 2017-05-08 Listed $84,995 NAMLS
• 2005-09-21 Sold (Public Records) $99,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $2,528 · +9.3% YoY. Source: county tax records.