941 Ashley Ln Unit D · Fort Walton Beach, FL 32547

$184,900

2 bd · 3.0 ba · 1,072 sqft · Townhouse public records · 50 Days on market

Built 1986 1,742 sqft lot $172/sqft · 11% below area Est $209k · 11% under

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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 +14.6/30.0
• ARV discount +12.7/15.0
• Schools +5.2/10.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect for investors! Townhome is conveniently located near military bases, hospital, YMCA, shopping & restaurants. Large kitchen with ample cabinets & counter space and pantry. Tile floors downstairs for easy maintenance and interior laundry with shelves for storage. Additional storage space throughout with coat closet, under stair storage and 2 closets in the master bedroom. Give us a call today!

Key facts

• Interior laundry
• Extra storage
• Vinyl plank flooring

Tags

• VINYL PLANK FLOORING
• GENEROUS SIZE KITCHEN
• PRIVATE FENCED BACKYARD
• INTERIOR LAUNDRY
• EXTRA STORAGE

Property features AI

Finance

• HOA & community: Subdivision: SHANGRA WOODS 1ST ADDN

Exterior

• Parking: 2 driveway spaces
• Utilities: Electric service; Public water; Public sewer; Electric water heater
• Home design: Townhome; 2 stories; Built in 1986
• Construction: Shingle roof; Frame, stone and wood siding with wood trim construction; Appraiser-listed building area
• Exterior features: Private yard; Open patio; Level lot; City street frontage; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater; Pantry
• Bedrooms: 2 bedrooms; Master bedroom on second floor with walk-in closet
• Flooring: Laminate; Carpet
• Bathrooms: 2 bathrooms (1 full, 1 half)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Pantry; Natural woodwork; Window treatments
• Laundry & utility: Laundry room (first floor)

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $43 ($513/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 $160k (13.6% below list).
• Recommended offer: $160k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: schools C-, 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.
• Market conditions: Rents soft (-0.1%/yr); 224 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).

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

• It's been on market 50 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $120k; list at $185k implies a 54% 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 $159,754 (13.6% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 9.6

CMA / ARV

• ARV (median comp): $208,870
• List price: $184,900
• Delta: -11.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Olympia Ct	0.29mi	2/2.5	1,084 (+1%)	12mo	$225,000	$208	73
940 Central Ave Unit 13	0.09mi	2/2.0	1,120 (+4%)	22mo	$196,000	$175	66
990 Rockport Dr	0.36mi	2/2.0	1,000 (-7%)	2mo	$185,000	$185	66
818 Roy St Unit B	0.46mi	2/2.0	1,092 (+2%)	10mo	$220,000	$201	63
818 Roy St Unit A	0.46mi	2/2.0	1,092 (+2%)	10mo	$220,000	$201	63
1010 Rockport Dr	0.34mi	2/2.5	1,128 (+5%)	17mo	$220,000	$195	59
309 Olympia Ct	0.29mi	2/1.5	1,197 (+12%)	12mo	$220,000	$184	51
104 Hydac Rd Unit B	0.48mi	2/1.5	1,144 (+7%)	17mo	$225,000	$197	46
524 NW Parkview Rd Unit A	0.30mi	2/2.5	1,231 (+15%)	16mo	$260,900	$212	46
532 NW Parkview Rd Unit 9	0.33mi	2/2.5	1,200 (+12%)	22mo	$180,000	$150	44
307 Olympia Ct	0.29mi	2/1.5	1,197 (+12%)	23mo	$234,000	$195	42

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: -18.0%
• Equity multiple: 0.38×
• Total profit: $-31,931
• Equity at exit: $27,569

10-year hold

• IRR: -17.1%
• Equity multiple: 0.18×
• Total profit: $-42,438
• Equity at exit: $15,987

Cash invested: $51,772 (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 32547

• Home prices YoY: -29.3%
• Rents YoY: -0.1%
• Active inventory: 224
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,598 high
• Mortgage (P&I): −$970
• Tax from tax record: −$173 /mo · $2,071/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $43

Break-even live

Break-even rent $1,543

Max offer price $184,900

Occupancy floor 92%

Sensitivity live

Price	-10% $147	-5% $95	+0% $43	+5% $-10	+10% $-62
Rent	-10% $-83	-5% $-20	+0% $43	+5% $106	+10% $169
Rate	-1.0pp $136	-0.5pp $90	base $43	+0.5pp $-5	+1.0pp $-54

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
943 Central Ave Unit C Fort Walton Beach, FL	1.0	1.0	750	$1,200	$1.60	44d	1	0.06mi
940 Central Ave #16 Fort Walton Beach, FL	3.0	2.0	1320	$1,800	$1.36	14d	1	0.12mi
400 Rhonda Kay Ct #66 Fort Walton Beach, FL	3.0	1.5	1256	$1,650	$1.31	44d	1	0.24mi
508 Parkview Rd NW Fort Walton Beach, FL	2.0	2.0	1250	$1,575	$1.26	44d	1	0.25mi
422 Bear Rd Unit A Fort Walton Beach, FL	2.0	1.5	1175	$1,600	$1.36	14d	1	0.27mi
433 Bear Rd Unit B Fort Walton Beach, FL	2.0	1.0	782	$1,200	$1.53	44d	1	0.30mi
1022 Rockport Dr Fort Walton Beach, FL	2.0	2.0	864	$1,500	$1.74	21d	1	0.30mi
104 Hydac Rd Unit B Fort Walton Beach, FL	2.0	1.5	1144	$1,650	$1.44	21d	1	0.47mi
800 Denton Blvd NW Fort Walton Beach, FL	2.0	1.0	1000	$1,600	$1.60	14d	1	0.54mi
794 Navy St Fort Walton Beach, FL	2.0	1.0	840	$1,200	$1.43	21d	1	0.55mi
790 Navy St Fort Walton Beach, FL	2.0	1.0	900	$1,300	$1.44	14d	1	0.58mi
1500 Lewis Turner Blvd Fort Walton Beach, FL	1.0	1.0	718	$1,695	$2.36	44d	1	0.58mi
833 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,895	$1.26	44d	1	0.61mi
831 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,895	$1.26	44d	1	0.61mi
829 Jonleen Dr Fort Walton Beach, FL	3.0	2.5	1500	$1,995	$1.33	44d	1	0.62mi
517 Scott Ln Fort Walton Beach, FL	3.0	2.0	980	$1,595	$1.63	44d	1	0.63mi
585 Bob Sikes Blvd Fort Walton Beach, FL	2.0	1.0	1190	$1,550	$1.30	44d	1	0.67mi
589 Bob Sikes Blvd Fort Walton Beach, FL	2.0	1.0	1190	$1,500	$1.26	44d	1	0.68mi
615 Bob Sikes Blvd #7 Fort Walton Beach, FL	2.0	1.0	1190	$1,500	$1.26	14d	1	0.76mi
615 Bob Sikes Blvd #5 Fort Walton Beach, FL	2.0	1.5	1190	$1,450	$1.22	44d	1	0.76mi
2415 Suwanee Ln Fort Walton Beach, FL	2.0	1.5	1250	$1,700	$1.36	44d	1	0.76mi
709 Greenwood St Unit B Fort Walton Beach, FL	2.0	1.0	800	$1,200	$1.50	21d	1	0.76mi
709 Greenwood St Fort Walton Beach, FL	2.0	1.0	800	$1,200	$1.50	14d	1	0.76mi
696 Tyner St #41 Fort Walton Beach, FL	2.0	1.5	960	$1,550	$1.61	14d	1	0.77mi
2400 Suwanee Ln Fort Walton Beach, FL	2.0	1.5	1242	$1,700	$1.37	21d	1	0.78mi
2404 Suwanee Ln Fort Walton Beach, FL	2.0	1.5	1242	$1,700	$1.37	21d	1	0.78mi
216 Cloverdale Blvd Unit C Fort Walton Beach, FL	2.0	1.5	1224	$1,700	$1.39	44d	1	0.80mi
935 Tanager Rd Unit C Fort Walton Beach, FL	2.0	1.0	797	$1,200	$1.51	44d	1	0.83mi
1504 E Ponderosa Rd Fort Walton Beach, FL	3.0	2.0	1000	$1,650	$1.65	21d	1	0.85mi
321 Woodrow St NE Fort Walton Beach, FL	1.0–3.0	1.0–2.0	1017	$1,488	$1.46	14d	6	0.94mi
830 Cardinal St Fort Walton Beach, FL	2.0	1.0	700	$1,250	$1.79	44d	1	0.95mi
604 Colonial Dr Fort Walton Beach, FL	1.0–2.0	1.0–2.0	818	$1,624	$1.99	44d	1	0.98mi
2800 Bradford Pl NW Fort Walton Beach, FL	2.0	2.0	850	$1,395	$1.64	14d	5	0.98mi
1839 Sod Dr Fort Walton Beach, FL	3.0	2.0	1425	$1,925	$1.35	21d	1	0.98mi
2809 Bradford Pl NW Unit 4 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	44d	1	0.98mi
2809 Bradford Pl NW Unit 3 Fort Walton Beach, FL	2.0	2.0	928	$1,300	$1.40	14d	1	0.98mi
2813 Bradford Pl NW Unit 2 Fort Walton Beach, FL	2.0	2.0	928	$1,300	$1.40	14d	1	1.00mi
337 Lewis St Unit F Fort Walton Beach, FL	2.0	1.0	864	$1,225	$1.42	44d	1	1.01mi
2812 Bradford Pl NW Unit 4 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	21d	1	1.01mi
2814 Bradford Pl NW Unit 3 Fort Walton Beach, FL	2.0	2.0	928	$1,250	$1.35	21d	1	1.02mi

Listing history 35 events

1. 2026-06-17
   days on market $184,900 Active 50 DOM
2. 2026-06-16
   days on market $184,900 Active 49 DOM
3. 2026-06-15
   days on market $184,900 Active 48 DOM
4. 2026-06-14
   days on market $184,900 Active 46 DOM
5. 2026-06-13
   days on market $184,900 Active 45 DOM
6. 2026-06-10
   days on market $184,900 Active 43 DOM
7. 2026-06-09
   days on market $184,900 Active 42 DOM
8. 2026-06-08
   days on market $184,900 Active 41 DOM
9. 2026-06-07
   days on market $184,900 Active 40 DOM
10. 2026-06-05
    days on market $184,900 Active 37 DOM
11. 2026-06-02
    days on market $184,900 Active 35 DOM
12. 2026-06-01
    days on market $184,900 Active 34 DOM
13. 2026-05-31
    days on market $184,900 Active 33 DOM
14. 2026-05-30
    days on market $184,900 Active 32 DOM
15. 2026-04-28
    listed $184,900 Active 605-char remark
16. 2025-10-06
    price $182,800
17. 2025-08-26
    price $183,000
18. 2025-07-24
    price $185,000
19. 2025-07-15
    price $190,000
20. 2025-06-27
    listed $197,000 Active
21. 2021-11-18
    soldstatus $120,000
22. 2021-11-04
    soldstatus $120,000

    Show marketing remark (412 chars)

    Perfect for investors! Townhome is conveniently located near military bases, hospital, YMCA, shopping & restaurants. Large kitchen with ample cabinets & counter space and pantry. Tile floors downstairs for easy maintenance and interior laundry with shelves for storage. Additional storage space throughout with coat closet, under stair storage and 2 closets in the master bedroom. Give us a call today!

23. 2021-11-04
    soldstatus $120,000 Sold

    Show marketing remark (412 chars)

    Perfect for investors! Townhome is conveniently located near military bases, hospital, YMCA, shopping & restaurants. Large kitchen with ample cabinets & counter space and pantry. Tile floors downstairs for easy maintenance and interior laundry with shelves for storage. Additional storage space throughout with coat closet, under stair storage and 2 closets in the master bedroom. Give us a call today!

24. 2021-10-25
    status Pending

    Show marketing remark (412 chars)

    Perfect for investors! Townhome is conveniently located near military bases, hospital, YMCA, shopping & restaurants. Large kitchen with ample cabinets & counter space and pantry. Tile floors downstairs for easy maintenance and interior laundry with shelves for storage. Additional storage space throughout with coat closet, under stair storage and 2 closets in the master bedroom. Give us a call today!

25. 2021-09-15
    listed $135,000 Active

    Show marketing remark (412 chars)

    Perfect for investors! Townhome is conveniently located near military bases, hospital, YMCA, shopping & restaurants. Large kitchen with ample cabinets & counter space and pantry. Tile floors downstairs for easy maintenance and interior laundry with shelves for storage. Additional storage space throughout with coat closet, under stair storage and 2 closets in the master bedroom. Give us a call today!

26. 2021-09-13
    listed $135,000

    Show marketing remark (412 chars)

    Perfect for investors! Townhome is conveniently located near military bases, hospital, YMCA, shopping & restaurants. Large kitchen with ample cabinets & counter space and pantry. Tile floors downstairs for easy maintenance and interior laundry with shelves for storage. Additional storage space throughout with coat closet, under stair storage and 2 closets in the master bedroom. Give us a call today!

27. 2013-02-12
    soldstatus $67,000
28. 2013-02-08
    soldstatus $67,000
29. 2013-02-08
    soldstatus $67,000
30. 2009-03-02
    listed $69,000
31. 2003-09-08
    soldstatus $65,000
32. 2003-08-28
    soldstatus $65,000
33. 2003-08-28
    soldstatus $65,000
34. 2003-07-21
    listed $69,999
35. 2003-07-21
    listed $69,999

ⓘ 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: $2,071 · $173/mo
• Projected year-2 tax: $2,071 · $173/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $19,170
• − Mortgage interest: −$10,357
• − Property taxes: −$2,071
• − Insurance: −$924
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$5,379
• Taxable loss: −$2,629
• Est. tax savings @ 24.0%: +$631
• After-tax cash flow: $1,144/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): 35,527
• Household income: $70,711
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1203.0

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 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 11% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 15% · Canada, Vietnam, Jamaica
• Languages at home: 81% English-only · Spanish 14% Other Indo-European 1% Vietnamese 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: ▼ -111.28%
• Current HPI: 268.6497
• Rent YoY: ▼ -0.13%
• 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

+164.1% since first listed

21 events — show timeline

• 2026-04-28 Listed $184,900 ECAR
• 2025-10-06 Price Changed $182,800 ECAR
• 2025-08-26 Price Changed $183,000 ECAR
• 2025-07-24 Price Changed $185,000 ECAR
• 2025-07-15 Price Changed $190,000 ECAR
• 2025-06-27 Listed $197,000 ECAR
• 2021-11-18 Sold (Public Records) $120,000 Public Records
• 2021-11-04 Sold (MLS) $120,000 ECAR
• 2021-11-04 Sold (MLS) $120,000 NAMLS
• 2021-10-25 Pending — ECAR
• 2021-09-15 Listed $135,000 ECAR
• 2021-09-13 Listed $135,000 NAMLS
• 2013-02-12 Sold (Public Records) $67,000 Public Records
• 2013-02-08 Sold (MLS) $67,000 NAMLS
• 2013-02-08 Sold (MLS) $67,000 ECAR
• 2009-03-02 Listed $69,000 NAMLS
• 2003-09-08 Sold (Public Records) $65,000 Public Records
• 2003-08-28 Sold (MLS) $65,000 NAMLS
• 2003-08-28 Sold (MLS) $65,000 ECAR
• 2003-07-21 Listed $69,999 NAMLS
• 2003-07-21 Listed $69,999 ECAR

Property tax history

+7.8%/yr

Latest (2025): $2,071 · +1.5% YoY. Source: county tax records.