108 Mantero Way · Destin, FL 32550

$489,000

3 bd · 2.0 ba · 1,502 sqft · SingleFamily public records · 129 Days on market

Built 1996 4,050 sqft lot $326/sqft · 9% below area Est $537k · 9% under $158/mo HOA · 5% 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 +11.5/15.0
• Cash flow +6.9/30.0
• Appreciation +5.7/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.1/10.0

Listing remarks MLS

Tucked inside the Tuscany community on Destin's east end, this home sits just half a mile from the beach--just enough to feel the coastal rhythm, yet removed from the bustle. The neighborhood wakes quietly, designed for those who value long-term living and a true sense of home. Just half a mile from the beach is a beautifully updated 3-bedroom, 2-bath home in Destin South of Hwy 98. Step inside and the space opens up, welcoming you with high vaulted ceilings that let sunlight drift easily from room to room. The home unfolds across 1,502 sq. ft. , where three comfortable bedrooms and two baths create a setting meant for both everyday living and entertainment. The kitchen, finished with elegant quartz countertops, becomes a natural gathering place--whether it's slow mornings with coffee or evenings spent sharing stories after a day by the water. Care has been poured into the home, evident in the new roof installed in 2024 and the fresh interior and exterior paint gives everything a clean, refreshed feel. There's comfort in knowing the important updates are already done, leaving nothing but the enjoyment of living here. A one-car garage adds simple convenience, rounding out a home designed to feel effortless. Life in Tuscany moves at an easy pace. From here, you're moments from Destin's white-sand beaches, top-rated schools, premier golf courses, shopping, and a dining scene that ranges from upscale coastal cuisine to relaxed beachside favorites. At the end of the day, return to a neighborhood that feels settled, peaceful and intentional. At 108 Mantero Way, the story isn't just about a house it's about mornings that start unhurried, days shaped by sun and salt air, and evenings that end in a place that truly feels like home.

Key facts

• Premier golf courses
• One-car garage
• Shopping

Tags

• NEW ROOF INSTALLED IN 2024
• ONE-CAR GARAGE
• TOP-RATED SCHOOLS
• PREMIER GOLF COURSES
• SHOPPING
• DINING SCENE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $489k.

Deal economics

• At list price, monthly cash flow is $-741 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $358k (26.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $323k (33.9% below list).
• Recommended offer: $323k (33.9% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 0.9% 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: 948 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,268 units permitted in Okaloosa County in 2024 (175 in 5+ unit buildings).
• This rent runs 38% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($3k loan paydown + $7k appreciation (1.4% local appreciation)).
• Okaloosa County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($430k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $225k; list at $489k implies a 117% 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 $323,201 (33.9% 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 129 days. Have you received any prior offers? Is the seller open to a 34% 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: 0.66% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.49%
• DSCR: 0.71
• GRM: 12.6

CMA / ARV

• ARV (median comp): $537,173
• List price: $489,000
• Delta: -7.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
94 Terra Cotta Way	0.05mi	3/2.0	1,554 (+4%)	10mo	$694,500	$447	83
107 Tuscany Dr	0.08mi	3/2.0	1,560 (+4%)	9mo	$485,000	$311	82
94 Mantero Way	0.06mi	3/2.0	1,593 (+6%)	8mo	$565,000	$355	80
52 Secret Harbor Dr	0.24mi	3/2.0	1,586 (+6%)	9mo	$1,110,000	$700	72
10 Pearl Cv	0.20mi	3/2.5	1,624 (+8%)	4mo	$795,000	$490	72
80 Terra Cotta Way	0.10mi	3/3.0	1,644 (+10%)	7mo	$950,000	$578	70
234 Calusa Blvd	0.51mi	3/2.5	1,460 (-3%)	5mo	$470,000	$322	66
187 Sandy Cay Dr	0.35mi	3/2.0	1,586 (+6%)	11mo	$925,000	$583	66
44 S St Thomas Ct	0.47mi	3/2.0	1,410 (-6%)	6mo	$680,000	$482	63
29 St Croix Ct	0.47mi	3/2.0	1,404 (-6%)	8mo	$615,000	$438	60
182 Beach Retreat Pl	0.46mi	3/2.5	1,596 (+6%)	8mo	$750,000	$470	59
39 Topaz Cv	0.26mi	4/3.0 (+1)	1,638 (+9%)	10mo	$835,000	$510	56

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: -3.8%
• Equity multiple: 0.80×
• Total profit: $-27,259
• Equity at exit: $178,398

10-year hold

• IRR: 1.2%
• Equity multiple: 1.15×
• Total profit: $20,849
• Equity at exit: $246,205

Cash invested: $136,920 (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: 12.6×

Monthly cashflow live

• Estimated rent: $3,232 high
• Mortgage (P&I): −$2,564
• Tax from tax record: −$368 /mo · $4,414/yr
• Insurance: −$204
• HOA: −$158
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $-741

Break-even live

Break-even rent $4,170

Max offer price $358,157

Occupancy floor —

Sensitivity live

Price	-10% $-464	-5% $-602	+0% $-741	+5% $-879	+10% $-1,017
Rent	-10% $-996	-5% $-868	+0% $-741	+5% $-613	+10% $-485
Rate	-1.0pp $-494	-0.5pp $-616	base $-741	+0.5pp $-867	+1.0pp $-996

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Mantero Way Destin, FL	3.0	2.0	1502	$2,700	$1.80	15d	1	0.02mi
4765 Calatrava Ct Unit 1285934P Destin, FL	3.0	2.0	1291	$4,018	$3.11	23d	1	0.09mi
28 Aquamarine Cv Unit 1285923P Destin, FL	3.0	2.0	1646	$3,090	$1.88	15d	1	0.20mi
75 Secret Harbor Dr Unit 1285885P Miramar Beach, FL	3.0	2.0	1474	$3,840	$2.61	15d	1	0.29mi
4507 Furling Ln Destin, FL	2.0–3.0	2.0–3.0	1616	$2,200	$1.36	23d	3	0.30mi
4507 Furling Ln Destin, FL	2.0–3.0	2.0–3.0	1707	$2,200	$1.29	45d	3	0.30mi
115 Secret Harbor Dr Miramar Beach, FL	4.0	2.0	2000	$2,995	$1.50	15d	1	0.31mi
4691 Amhurst Cir Destin, FL	4.0	2.5	2030	$3,200	$1.58	15d	1	0.41mi
261 Sandy Cay Dr Miramar Beach, FL	4.0	2.0	1869	$4,850	$2.59	23d	1	0.43mi
231 Calusa Blvd Destin, FL	3.0	3.0	1900	$3,000	$1.58	45d	1	0.48mi
4657 Windstarr Dr Unit 1285936P Destin, FL	4.0	2.0	1625	$3,340	$2.06	15d	1	0.65mi
251 Vinings Way Blvd Destin, FL	2.0–3.0	1.0–2.0	1147	$2,326	$2.03	15d	12	0.68mi
225 Botanic Way Miramar Beach, FL	1.0–3.0	1.0–2.0	1116	$3,029	$2.71	15d	56	0.83mi
4618 Windstarr Dr Unit 1285903P Destin, FL	3.0	2.0	1496	$5,241	$3.50	23d	1	0.84mi
4485 Clipper Cv Unit 1285890P Destin, FL	3.0	2.0	1754	$4,199	$2.39	23d	1	1.36mi
4496 Luke Ave Unit 1354367P Destin, FL	3.0	3.0	1463	$2,422	$1.66	15d	1	1.37mi
4465 Clipper Cv Unit 1285888P Destin, FL	3.0	3.0	1593	$6,185	$3.88	15d	1	1.44mi

HOA detail

• Monthly dues: $158 · $1,896/yr
• Likely covers: water

Listing history 9 events

1. 2026-06-21
   pricedays on market $489,000 Active 129 DOM
2. 2026-03-19
   price $495,000 1755-char remark

   Show marketing remark (1755 chars)

   Tucked inside the Tuscany community on Destin's east end, this home sits just half a mile from the beach--just enough to feel the coastal rhythm, yet removed from the bustle. The neighborhood wakes quietly, designed for those who value long-term living and a true sense of home. Just half a mile from the beach is a beautifully updated 3-bedroom, 2-bath home in Destin South of Hwy 98. Step inside and the space opens up, welcoming you with high vaulted ceilings that let sunlight drift easily from room to room. The home unfolds across 1,502 sq. ft. , where three comfortable bedrooms and two baths create a setting meant for both everyday living and entertainment. The kitchen, finished with elegant quartz countertops, becomes a natural gathering place--whether it's slow mornings with coffee or evenings spent sharing stories after a day by the water. Care has been poured into the home, evident in the new roof installed in 2024 and the fresh interior and exterior paint gives everything a clean, refreshed feel. There's comfort in knowing the important updates are already done, leaving nothing but the enjoyment of living here. A one-car garage adds simple convenience, rounding out a home designed to feel effortless. Life in Tuscany moves at an easy pace. From here, you're moments from Destin's white-sand beaches, top-rated schools, premier golf courses, shopping, and a dining scene that ranges from upscale coastal cuisine to relaxed beachside favorites. At the end of the day, return to a neighborhood that feels settled, peaceful and intentional. At 108 Mantero Way, the story isn't just about a house it's about mornings that start unhurried, days shaped by sun and salt air, and evenings that end in a place that truly feels like home.

3. 2026-01-21
   listed $499,000 Active 1755-char remark

   Show marketing remark (1755 chars)

   Tucked inside the Tuscany community on Destin's east end, this home sits just half a mile from the beach--just enough to feel the coastal rhythm, yet removed from the bustle. The neighborhood wakes quietly, designed for those who value long-term living and a true sense of home. Just half a mile from the beach is a beautifully updated 3-bedroom, 2-bath home in Destin South of Hwy 98. Step inside and the space opens up, welcoming you with high vaulted ceilings that let sunlight drift easily from room to room. The home unfolds across 1,502 sq. ft. , where three comfortable bedrooms and two baths create a setting meant for both everyday living and entertainment. The kitchen, finished with elegant quartz countertops, becomes a natural gathering place--whether it's slow mornings with coffee or evenings spent sharing stories after a day by the water. Care has been poured into the home, evident in the new roof installed in 2024 and the fresh interior and exterior paint gives everything a clean, refreshed feel. There's comfort in knowing the important updates are already done, leaving nothing but the enjoyment of living here. A one-car garage adds simple convenience, rounding out a home designed to feel effortless. Life in Tuscany moves at an easy pace. From here, you're moments from Destin's white-sand beaches, top-rated schools, premier golf courses, shopping, and a dining scene that ranges from upscale coastal cuisine to relaxed beachside favorites. At the end of the day, return to a neighborhood that feels settled, peaceful and intentional. At 108 Mantero Way, the story isn't just about a house it's about mornings that start unhurried, days shaped by sun and salt air, and evenings that end in a place that truly feels like home.

4. 2024-03-27
   price $490,000
5. 2024-02-15
   listed $495,000 Active
6. 2024-02-02
   listed $495,000 Active
7. 2015-05-29
   soldstatus $225,000
8. 2015-05-29
   soldstatus $225,000
9. 2015-02-02
   listed $249,900

ⓘ 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: $4,414 · $368/mo
• Projected year-2 tax: $4,414 · $368/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $38,784
• − Mortgage interest: −$27,392
• − Property taxes: −$4,414
• − Insurance: −$2,445
• − Repairs & maintenance: −$3,103
• − Management: −$3,103
• − HOA: −$1,896
• − Depreciation: −$14,225
• Taxable loss: −$17,794
• Est. tax savings @ 24.0%: +$4,270
• After-tax cash flow: $-4,618/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: Walton County · 70,839 people
• City population: 18,855
• 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 (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 (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 · 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: ▲ 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

+98.1% since first listed

8 events — show timeline

• 2026-03-19 Price Changed $495,000 ECAR
• 2026-01-21 Listed $499,000 ECAR
• 2024-03-27 Price Changed $490,000 ECAR
• 2024-02-15 Listed $495,000 ECAR
• 2024-02-02 Listed $495,000 ECAR
• 2015-05-29 Sold (MLS) $225,000 NAMLS
• 2015-05-29 Sold (MLS) $225,000 ECAR
• 2015-02-02 Listed $249,900 NAMLS

Property tax history

+7.3%/yr

Latest (2025): $4,414 · +4.7% YoY. Source: county tax records.