710 Legion Dr Unit B5 · Destin, FL 32541

$223,500

2 bd · 1.0 ba · 850 sqft · Townhouse public records · 9 Days on market

Built 1981 1,742 sqft lot Est $223k · at est. $122/mo HOA · 7% 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).

• Cash flow +12.3/30.0
• ARV discount +7.3/15.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this end-unit gem. This beautifully updated townhome in the heart of Destin, Florida! This private charming 2-bedroom, 1-bath residence offers the perfect combination of comfort, convenience, and investment potential. Recent upgrades include fresh interior paint, new luxury vinyl plank (LVP) flooring, updated lighting fixtures, a newly installed dishwasher, and a refreshed main bathroom, creating a move-in-ready space with modern appeal. As an end unit, the home enjoys added privacy and natural light. The fenced back yard offers palm trees and tranquility. Whether you're searching for a primary residence, vacation getaway, or income-producing property, this townhome checks all t

Key facts

• $122 HOA
• 2 parking spots
• Built 1981

Property features AI

Finance

• Other: Zoned Residential Multi-Family
• HOA & community: Community dumpster

Exterior

• Parking: 2 assigned parking spaces
• Utilities: Electric service; Public water; Public sewer
• Home design: Townhome; 2 stories; Living areas on first floor, bedrooms on second floor; Built in 1981; Facing direction not specified
• Construction: Stucco exterior; Slab foundation
• Exterior features: Private yard; Privacy fencing; Covenants and restrictions

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 bedrooms (master on second level)
• Bathrooms: 1 full bathroom with tile in the master bath
• Heating & cooling: Central heating; Central electric air conditioning; Ceiling fans
• Interior features: Unfurnished; Washer/dryer hookup; Central air; Ceiling fans
• Laundry & utility: Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $224k.

Deal economics

• At list price, monthly cash flow is $-43 ($-511/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (19.2% below list).
• Recommended offer: $181k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: crime A+, employment A+, housing 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.
• Zoned schools: Destin Elementary School (math 79% / reading 70%, grade A, #230 of 2,144 statewide, top 12%, 976 students, 41% FRL); Destin High School (470 students, 11% FRL, charter).
• Zoned-school proficiency averages 74% at this address vs 60% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Okaloosa average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.7%/yr); 918 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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 $125k; list at $224k implies a 79% 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 $180,659 (19.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $222,700
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 Legion Dr Unit O4	0.03mi	2/1.0	850 (0%)	3mo	$222,500	$262	96
710 Legion Dr Unit O3	0.04mi	2/1.0	850 (0%)	7mo	$222,500	$262	92
710 Legion Dr Unit P2	0.06mi	2/1.0	850 (0%)	8mo	$215,000	$253	90
710 Legion Dr Unit G5	0.08mi	2/1.0	850 (0%)	20mo	$230,000	$271	80
223 Indian Oaks Dr	0.06mi	2/1.5	900 (+6%)	8mo	$222,000	$247	79
710 Legion Dr Unit N1	0.03mi	2/1.5	850 (0%)	22mo	$220,000	$259	78

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-37,701
• Equity at exit: $33,325

10-year hold

• IRR: -7.7%
• Equity multiple: 0.50×
• Total profit: $-31,218
• Equity at exit: $19,324

Cash invested: $62,580 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$1,172
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$93
• HOA: −$122
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $-43

Break-even live

Break-even rent $1,860

Max offer price $215,983

Occupancy floor 97%

Sensitivity live

Price	-10% $84	-5% $21	+0% $-43	+5% $-106	+10% $-169
Rent	-10% $-185	-5% $-114	+0% $-43	+5% $29	+10% $100
Rate	-1.0pp $70	-0.5pp $14	base $-43	+0.5pp $-100	+1.0pp $-159

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: $55,875
• Closing costs: $6,705
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,800	$2.12	45d	1	0.02mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,750	$2.06	15d	1	0.02mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,600	$1.78	45d	1	0.06mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,450	$1.61	23d	1	0.06mi
204 Ann Cir Unit C Destin, FL	2.0	1.0	1000	$1,550	$1.55	45d	1	0.09mi
2004-2098 Palm St Destin, FL	1.0–3.0	1.0–2.0	1061	$2,504	$2.36	15d	22	0.39mi
22 Moreno Point Rd Unit 1285898P Destin, FL	2.0	2.5	1065	$3,068	$2.88	15d	1	0.58mi
986 Airport Rd Unit B Destin, FL	1.0	1.0	920	$1,700	$1.85	45d	1	0.82mi
197 Durango Rd Destin, FL	2.0	1.0	852	$2,700	$3.17	23d	1	0.89mi
485 Gulf Shore Dr #101 Destin, FL	1.0	1.0	700	$2,500	$3.57	45d	1	0.97mi
160 S Mattie M Kelly Blvd Destin, FL	1.0–3.0	1.0–2.0	1074	$2,198	$2.05	15d	24	1.16mi
500 Gulf Shore Dr Unit 1447165P Destin, FL	1.0	1.0	613	$2,256	$3.68	45d	1	1.19mi
100 Gulf Shore Dr #104 Destin, FL	2.0	2.0	1100	$3,200	$2.91	45d	1	1.32mi

HOA detail

• Monthly dues: $122 · $1,464/yr

Listing history 8 events

1. 2026-06-21
   days on market $223,500 Active 9 DOM
2. 2026-06-18
   days on market $223,500 Active 6 DOM
3. 2026-06-17
   price $223,500 Active 5 DOM
4. 2026-06-17
   days on market $230,000 Active 5 DOM
5. 2026-06-16
   days on market $230,000 Active 4 DOM
6. 2026-06-15
   days on market $230,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $230,000 Active 1 DOM

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $1,855 · $155/mo
• Expected delta: +$864/yr (+$72/mo · 87.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $21,679
• − Mortgage interest: −$12,519
• − Property taxes: −$991
• − Insurance: −$1,118
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − HOA: −$1,464
• − Depreciation: −$6,502
• Taxable loss: −$4,383
• Est. tax savings @ 24.0%: +$1,052
• After-tax cash flow: $541/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

+3733.3% since first listed

7 events — show timeline

• 2026-06-12 Listed $230,000 ECAR
• 2021-07-21 Sold (Public Records) $125,000 Public Records
• 2010-12-31 Listing Removed — NAMLS
• 2010-06-30 Listed $60,000 NAMLS
• 2010-06-30 Listed $60,000 ECAR
• 1995-01-01 Sold (Public Records) $34,500 Public Records
• 1980-12-01 Sold (Public Records) $6,000 Public Records

Property tax history

+16.3%/yr

Latest (2025): $991 · +3.8% YoY. Source: county tax records.