10 Harbor Blvd Unit E202E · Destin, FL 32541

$99,500

2 bd · 2.0 ba · 1,249 sqft · Timeshare · 1255 Days on market

Built 2007 $80/sqft · 85% below area $609/mo HOA · 26% of rent ↓ 33% since listing

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fractional Ownership with 6 weeks of usage each year! Share E for sale! Listed as a 2 bedroom, however the unit has a full bunk room and will sleeps 8. Owners of the luxury fractional shares at Emerald Grande experience a unique vacation lifestyle. Designed for those whose expectations of luxury and service are exceptionally high, Emerald Grande redefines resort living. Enjoy room service, onsite Spa and Fitness Center, garage parking, and much more. Fractional ownership allows you to purchase only what you use and removes the legwork of finding other buyers to partner with you and provides a hassle free ownership. At Emerald Grande, every imaginable activity awaits you, just steps from you

Key facts

• $609 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Zoning: City; Waterfront length: 1100 feet
• HOA & community: Association fee covers electricity, grounds maintenance, insurance, legal, permits, management, utilities, recreational facilities, structure maintenance, security, services, sewer, supplies, cable TV, telephone, trash, and water; Has association; Community amenities: beach, community room, dock, elevators, exercise room, fishing, game room, handicap provisions, marina, owners pets allowed, playground, pool, sauna/steam room, separate storage, TV cable, waterfront, dumpster

Exterior

• Parking: Garage
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Electric; TV cable; Phone; Underground utilities
• Home design: Condominium; Located in an 18-story building; Built in 2007; Facing Gulf/Pass view
• Construction: Metal roof; Concrete and stucco construction with steel frame and aluminum trim; Slab foundation
• Exterior features: Balcony; Community pool; Waterfront property with Gulf/Pass and harbor views

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Microwave
• Bedrooms: 2 bedrooms; Master bedroom on the first floor with carpet
• Flooring: Tile; Carpet
• Bathrooms: 2 full bathrooms; Master bathroom with double vanity, garden tub, separate shower, and tile
• Heating & cooling: Central heating; Central air; Electric heat control
• Interior features: Breakfast bar; Crown molding; Recessed lighting; Track lighting; Washer/dryer hookup; Double pane windows
• Laundry & utility: Washer; Dryer; Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath timeshare listed at $100k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 0.8% 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: Rents rising (+3.7%/yr); 910 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% 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 $688 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 1255 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 1255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.35% ✓
• Cap rate: 12.96%
• Cash-on-cash: 23.80%
• DSCR: 2.06
• GRM: 3.5

CMA / ARV

• ARV (median comp): $659,495
• List price: $99,500
• Delta: -84.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Harbor Blvd Unit E303G	0.00mi	2/2.0	1,249 (0%)	11mo	$30,000	$24	91
10 HARBOR Blvd Unit E601G	0.00mi	2/2.0	1,249 (0%)	12mo	$30,000	$24	90
10 Harbor Blvd Unit E903A	0.00mi	2/2.0	1,249 (0%)	12mo	$35,000	$28	90
10 HARBOR Blvd Unit E702B	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 HARBOR Blvd Unit E702C	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 HARBOR Blvd Unit E702D	0.00mi	2/2.0	1,249 (0%)	14mo	$27,000	$22	89
10 HARBOR Blvd Unit E702E	0.00mi	2/2.0	1,249 (0%)	14mo	$25,000	$20	89
10 Harbor Blvd Unit E302E	0.00mi	2/2.0	1,249 (0%)	14mo	$28,000	$22	89
10 HARBOR Blvd Unit E601C	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 HARBOR Blvd Unit E601D	0.00mi	2/2.0	1,249 (0%)	14mo	$30,000	$24	89
10 Harbor Blvd Unit E304C	0.00mi	2/2.0	1,220 (-2%)	12mo	$30,000	$25	86
10 Harbor Blvd Unit E404D	0.00mi	2/2.0	1,220 (-2%)	14mo	$28,000	$23	85

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: 18.4%
• Equity multiple: 1.76×
• Total profit: $21,085
• Equity at exit: $14,836

10-year hold

• IRR: 27.6%
• Equity multiple: 3.59×
• Total profit: $72,041
• Equity at exit: $8,603

Cash invested: $27,860 (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: 910
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$609
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $552

Break-even live

Break-even rent $1,641

Max offer price $99,500

Occupancy floor 71%

Sensitivity live

Price	-10% $621	-5% $587	+0% $552	+5% $518	+10% $484
Rent	-10% $368	-5% $460	+0% $552	+5% $645	+10% $737
Rate	-1.0pp $603	-0.5pp $578	base $552	+0.5pp $527	+1.0pp $500

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Gulf Shore Dr #104 Destin, FL	2.0	2.0	1100	$3,200	$2.91	44d	1	0.40mi
234 Pelican Pl Destin, FL	2.0	2.5	1332	$2,100	$1.58	44d	1	0.52mi
235 Pelican Pl #11 Destin, FL	2.0	2.5	1465	$2,400	$1.64	44d	1	0.60mi
197 Durango Rd Destin, FL	2.0	1.0	852	$2,700	$3.17	21d	1	0.87mi
485 Gulf Shore Dr #101 Destin, FL	1.0	1.0	700	$2,500	$3.57	44d	1	0.92mi
204 Ann Cir Unit C Destin, FL	2.0	1.0	1000	$1,550	$1.55	44d	1	1.36mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,450	$1.61	21d	1	1.39mi
710 Legion Dr Unit O2 Destin, FL	2.0	1.0	898	$1,600	$1.78	44d	1	1.39mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,750	$2.06	14d	1	1.42mi
710 Legion Dr Unit D2 Destin, FL	2.0	1.0	850	$1,800	$2.12	44d	1	1.42mi
150 Bent Arrow Dr Destin, FL	3.0	2.5	1440	$2,250	$1.56	44d	1	1.48mi
22 Moreno Point Rd Unit 1285898P Destin, FL	2.0	2.5	1065	$3,068	$2.88	14d	1	1.49mi
22 Moreno Point Rd #12 Destin, FL	3.0	2.5	1236	$3,295	$2.67	44d	1	1.49mi

HOA detail

• Monthly dues: $609 · $7,308/yr
• Likely covers: gym

Listing history 28 events

1. 2026-06-18
   days on market $99,500 Active 1255 DOM
2. 2026-06-17
   days on market $99,500 Active 1254 DOM
3. 2026-06-16
   days on market $99,500 Active 1253 DOM
4. 2026-06-15
   days on market $99,500 Active 1252 DOM
5. 2026-06-14
   days on market $99,500 Active 1250 DOM
6. 2026-06-13
   days on market $99,500 Active 1249 DOM
7. 2026-06-10
   days on market $99,500 Active 1247 DOM
8. 2026-06-09
   days on market $99,500 Active 1246 DOM
9. 2026-06-08
   days on market $99,500 Active 1245 DOM
10. 2026-06-07
    days on market $99,500 Active 1244 DOM
11. 2026-06-05
    days on market $99,500 Active 1241 DOM
12. 2026-06-02
    days on market $99,500 Active 1239 DOM
13. 2026-06-01
    days on market $99,500 Active 1238 DOM
14. 2026-05-31
    days on market $99,500 Active 1237 DOM
15. 2026-05-30
    days on market $99,500 Active 1236 DOM
16. 2023-01-10
    historical
17. 2023-01-10
    listed $99,500 Active
18. 2023-01-10
    historical
19. 2020-01-24
    listed $99,500 Active
20. 2013-12-28
    listed $99,500 Active
21. 2013-12-27
    historical
22. 2010-12-27
    listed $125,000
23. 2010-12-27
    listed $125,000
24. 2009-01-16
    historical
25. 2008-07-01
    listed $141,000
26. 2008-07-01
    listed $141,000
27. 2007-06-26
    soldstatus $149,000
28. 2005-06-12
    listed $149,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,087
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − HOA: −$7,308
• − Depreciation: −$2,895
• Taxable income: $5,827
• Est. tax owed @ 24.0%: −$1,399
• After-tax cash flow: $5,231/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

-33.2% since first listed

13 events — show timeline

• 2023-01-10 Delisted — ECAR
• 2023-01-10 Listed $99,500 ECAR
• 2023-01-10 Listing Removed — NAMLS
• 2020-01-24 Listed $99,500 ECAR
• 2013-12-28 Listed $99,500 NAMLS
• 2013-12-27 Listing Removed — NAMLS
• 2010-12-27 Listed $125,000 NAMLS
• 2010-12-27 Listed $125,000 ECAR
• 2009-01-16 Listing Removed — NAMLS
• 2008-07-01 Listed $141,000 NAMLS
• 2008-07-01 Listed $141,000 ECAR
• 2007-06-26 Sold (MLS) $149,000 ECAR
• 2005-06-12 Listed $149,000 ECAR