8103 Inspiration Dr Unit E1 · Miramar Beach, FL 32550

$85,000

4 bd · 3.5 ba · 2,278 sqft · Timeshare · 215 Days on market

Built 2005 Est $68k · 24% over $1195/mo HOA · 29% of rent ↓ 5% since listing

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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
• Appreciation +5.7/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

FRACTIONAL OWNERSHIP 1/10TH INTEREST 2026 planned weeks: February 28-March 7, March 7-14, May 23-30, October 31-November 7. Fully remodeled with all new furnishings and a 4th bedroom added. This home offers a garage and first and second floor master suites, each with a spa like en suite bath, and 2 additional guest bedrooms. The gourmet kitchen features marble counter tops, Viking stainless steel appliances and is completely equipped for all your cooking needs. Enjoy the easy convenience of having the association cover your property taxes, homeowner's insurance, and all regular utilities, maintenance and more. This waterfront enclave of single-family residences is arranged around the clubh

Key facts

• Fully remodeled
• Hot tub
• Gourmet kitchen

Tags

• FULLY REMODELED
• GOURMET KITCHEN
• MARBLE COUNTER TOPS
• SPA LIKE EN SUITE BATH
• HEATED COOLED SWIMMING POOL
• HOT TUB

Property features AI

Finance

• Other: Subdivision: INSPIRATION AT SANDESTIN; Community features include exercise room, laundry facilities, dumpster, no short-term rentals allowed, and restrictions on rentals
• HOA & community: Has association; Association covers advertising, electricity, gas, grounds maintenance, insurance, recreation land, legal, management, utilities, recreational facilities, structure maintenance, security, services, sewer, cable TV, taxes, trash and water

Exterior

• Parking: Attached garage with garage door opener; 1 garage space
• Security: Gated community; Association-provided security
• Utilities: Public water; Public sewer; Electric service; Natural gas; TV cable available
• Home design: Contemporary style; 2 stories; Condo/unit in a multi-unit building (per condo docs)
• Construction: Built in 2005; Frame construction; Shake roof; Foundation on pilings
• Exterior features: Open porch; Screened porch; Community pool; Community waterfront amenities and dock; Community barbecue and picnic areas; Playground; Tennis courts and pickleball; Community room; Gated community; Marina; Dock

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Freezer; Microwave; Range hood; Refrigerator; Kitchen island; Breakfast bar; Electric water heater
• Bedrooms: 4 bedrooms (master suite on second level with balcony and sitting area)
• Flooring: Hardwood
• Bathrooms: 4 bathrooms total — 3 full, 1 half; Master bathroom with double vanity, garden tub and separate shower
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans; High-efficiency AC; Electric heat control
• Interior features: Furnished; Breakfast bar; Vaulted ceilings; Tray ceilings; Kitchen island; Woodwork painted; Window treatments; Gas fireplace
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath timeshare listed at $85k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.4% vs local median 1.0% in Miramar 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 67/100 on livability (#569 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, employment A-; Watch: health & safety C-, schools D+, amenities F.
• Walton (rural): math 62% / reading 61% proficiency, ranked #10 of 73 in FL (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 948 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,883 units permitted in Walton County in 2024 (1,322 in 5+ unit buildings).
• At $4,150/mo this rent would consume 49% of the median local household income ($101k/yr) (locally 77% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($588 loan paydown + $1k appreciation (1.4% local appreciation)).
• Walton County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• Climate carrying-cost: severe 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 4.88% ✓
• Cap rate: 27.41%
• Cash-on-cash: 75.42%
• DSCR: 4.36
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $68,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8116 Inspiration Dr Unit B1	0.04mi	4/3.5	2,278 (0%)	3mo	$68,000	$30	95
8104 Inspiration Dr Unit A2	0.03mi	4/3.5	2,278 (0%)	6mo	$65,000	$29	93
8101 Inspiration Dr Unit D2	0.01mi	4/3.5	2,278 (0%)	9mo	$77,000	$34	92
8114 Inspiration Dr Unit A2	0.02mi	4/3.5	2,278 (0%)	9mo	$71,000	$31	92
8101 Inspiration Dr Unit D1	0.00mi	4/3.5	2,278 (0%)	12mo	$58,000	$25	90
8117 Inspiration Dr Unit B1	0.02mi	4/3.5	2,278 (0%)	15mo	$65,000	$29	87
8101 Inspiration Dr Unit E2	0.00mi	4/3.5	2,378 (+4%)	9mo	$80,000	$34	85
8104 Inspiration Dr Unit D2	0.01mi	4/3.5	2,278 (0%)	22mo	$55,000	$24	81
8115 Inspiraton Dr Unit C2	0.02mi	3/3.5 (-1)	2,440 (+7%)	4mo	$75,000	$31	78
8115 Inspiration Dr Unit D1	0.02mi	4/3.5	2,440 (+7%)	13mo	$79,000	$32	77
8105 Inspiration Dr Unit E2	0.03mi	4/3.5	2,440 (+7%)	14mo	$65,000	$27	75
8119 Inspiration Dr Unit A2	0.03mi	4/3.5	2,440 (+7%)	15mo	$63,500	$26	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.7%
• Equity multiple: 5.01×
• Total profit: $95,332
• Equity at exit: $31,010

10-year hold

• IRR: 76.4%
• Equity multiple: 10.33×
• Total profit: $221,947
• Equity at exit: $42,796

Cash invested: $23,800 (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 32550

• Home prices YoY: 0.6%
• Active inventory: 948
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $4,150 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,195
• Vacancy / Maint / Mgmt: −$871
• Net cashflow: $1,429

Break-even live

Break-even rent $2,340

Max offer price $85,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,488	-5% $1,459	+0% $1,429	+5% $1,400	+10% $1,371
Rent	-10% $1,101	-5% $1,265	+0% $1,429	+5% $1,593	+10% $1,757
Rate	-1.0pp $1,472	-0.5pp $1,451	base $1,429	+0.5pp $1,407	+1.0pp $1,385

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Sandy Cove Way Unit 1468396P SANTA RSA BCH, FL	3.0	2.5	1689	$3,093	$1.83	22d	1	1.00mi
1161 Troon Dr N Miramar Beach, FL	4.0	4.0	2776	$8,750	$3.15	22d	1	1.01mi
31 Rearden Way Santa Rosa Beach, FL	3.0	3.0	1870	$2,850	$1.52	22d	1	1.06mi
45 S Blue Heron Dr Santa Rosa Beach, FL	4.0	3.0	2512	$5,200	$2.07	15d	1	1.12mi
15 Beacon Point Dr Santa Rosa Beach, FL	4.0	4.0	2447	$3,850	$1.57	15d	1	1.13mi
40 Oaks Ct Santa Rosa Beach, FL	4.0	3.5	2210	$3,600	$1.63	22d	1	1.19mi
2469 Bungalo Ln Unit 1354366P Miramar Beach, FL	3.0	3.5	1668	$4,498	$2.70	15d	1	1.23mi
28 E Wild Briar Rd Unit C Santa Rosa Beach, FL	3.0	2.0	1968	$3,500	$1.78	22d	1	1.27mi
15 Blue Cove Dr Santa Rosa Beach, FL	1.0–3.0	1.0–2.5	1075	$2,677	$2.49	15d	23	1.40mi

HOA detail

• Monthly dues: $1,195 · $14,340/yr
• Likely covers: water

Listing history 19 events

1. 2026-06-21
   days on market $85,000 Active 215 DOM
2. 2026-06-18
   days on market $85,000 Active 212 DOM
3. 2026-06-17
   days on market $85,000 Active 211 DOM
4. 2026-06-16
   days on market $85,000 Active 210 DOM
5. 2026-06-15
   days on market $85,000 Active 209 DOM
6. 2026-06-14
   days on market $85,000 Active 207 DOM
7. 2026-06-13
   days on market $85,000 Active 206 DOM
8. 2026-06-10
   days on market $85,000 Active 204 DOM
9. 2026-06-09
   days on market $85,000 Active 203 DOM
10. 2026-06-08
    days on market $85,000 Active 202 DOM
11. 2026-06-07
    days on market $85,000 Active 201 DOM
12. 2026-06-05
    days on market $85,000 Active 198 DOM
13. 2026-06-03
    days on market $85,000 Active 197 DOM
14. 2026-06-03
    days on market $85,000 Active 196 DOM
15. 2026-06-01
    days on market $85,000 Active 195 DOM
16. 2026-05-31
    days on market $85,000 Active 194 DOM
17. 2026-05-30
    days on market $85,000 Active 193 DOM
18. 2026-05-13
    price $85,000
19. 2025-11-17
    listed $89,900 Active

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $49,795
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$1,222
• − Repairs & maintenance: −$3,984
• − Management: −$3,984
• − HOA: −$14,340
• − Depreciation: −$2,473
• Taxable income: $17,756
• Est. tax owed @ 24.0%: −$4,261
• After-tax cash flow: $12,890/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: Walton
• NCES district ID: 1201980
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $46,794
• Composite: 52.03/100
• National rank: #1634
• State rank: #10 of 73 in FL

Livability — Miramar Beach

• Score: 67/100
• State rank: #569
• US rank: #10855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miramar Beach, FL
• County: Walton County · 70,839 people
• City population: 8,486
• Metro: Crestview-Fort Walton Beach-Destin, FL
• Population (ZIP): 8,486
• Household income: $101,250
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 77.0

Population outlook (Walton County) Hauer SSP2

• Today (2025): 80,014 people
• By 2030: 88,120 · +10.1%
• By 2040: 103,537 · +29.4%
• By 2050: 117,034 · +46.3%
• By 2075: 143,901 · +79.8%
• By 2100: 155,138 · +93.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4% Black 2%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 3%
• Foreign-born: 12% · Canada
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 4% Other Indo-European 1%

Political lean MEDSL · Walton

• 2024 margin: Solid R (+57.8) · D 20.7% · R 78.6%
• 2008→2024 swing: -12.0pp toward R · 2008: -45.8pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+51.7 2016: R+56.1 2012: R+52.0 2008: R+45.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 247.7567
• Rent YoY: —
• 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

-5.5% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $85,000 ECAR
• 2025-11-17 Listed $89,900 ECAR