705 Gulf Shore Dr 402, Destin
Okaloosa County Real Estate - Destin
Destin is in North West Florida. It's population as recorded in the 2010 Census was 12,305. Destin is approximately 43 miles from Pensacola (population 51,923) and around 53 miles from Panama City (population 36,484).
The median age for residents of Destin is 41.1. Around 25.1% of Destin households include school aged children and 24.7% of households include individuals aged 65 years or over. Census records indicate 90.1% of the Destin population are White, 1.4% are Black or African American, .2% American Indian, 2% Asian and 2.9% are Two or more Races.
There are 13,672 housing units in Destin. 8,378 (61.2%) of these were reported as vacant in the 2010 Census. Destin is a tourist destination, 53.5% (4,489) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 4,991 residential rental units in Destin. 1,881 of them were occupied in 2010 providing a residential rental vacancy rate of 58.7%.
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Okaloosa County
Okaloosa County is part of the Northwest Florida region, along with Bay, Santa Rosa, Escambia, Walton, Holmes, Jackson, Washington, Calhoun, Liberty, Gulf, Franklin, Gadsden, Leon, Jefferson, and Wakulla counties. Okaloosa has a population over 180,000. The county is part of one of the fastest growing regions in the nation. The county is located in the panhandle, with the southern portion bordering the Gulf of Mexico and the northern portion on the Georgia border.
Top industries in Okaloosa County are government, professional & business services, trade & transportation, leisure and hospitality, and education & health services. Several air force and army facilities are located in Okaloosa County, including Eglin Air Force Base, Hurlburt Field, and Duke Field. By size, Eglin is the largest Air Force base in the country and is responsible for the development, acquisition, testing, and deployment of all air-delivered weapons. Okaloosa county's white sand beaches also attract many tourists to the area. Top private sector employers are Fort Walton Beach Medical Center, L-3 Communications/Crestview Aerospace, DRS Training & Control Systems, InDyne Inc, and ResortQuest. Major public sector employers are US Department of Defense-Eglin AFB, Okaloosa School District, and County of Okaloosa-Sheriff's Department.
Defense is major business in Okaloosa. Of the ten largest defense contractors in the state, six have a presence in Okaloosa. 350 such companies provide 21,000 jobs and contribute over $6.5 billion to the economy.
Okaloosa is a major transportation hub. Indeed, its county seat, Crestview, is nicknamed the "Hub City". With two rivers, a CSX railroad line, and access to multiple highways including Interstate-10, the city is at the center of the region.
Northwest Florida State College has five campuses throughout the county, with its main campus in Niceville. Troy University also has campuses in the county, including one on Eglin AFB.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
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| 705 Gulf Shore Dr 101 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 102 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 405 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 404 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 403 | Condominium | 1,600 | B |
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| 705 Gulf Shore Dr 401 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 305 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 304 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 303 | Condominium | 1,600 | B |
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| 705 Gulf Shore Dr 302 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 103 | Condominium | 1,600 | B |
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| 705 Gulf Shore Dr 104 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 105 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 201 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 202 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 203 | Condominium | 1,600 | B |
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| 705 Gulf Shore Dr 204 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 205 | Condominium | 1,255 | B |
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| 705 Gulf Shore Dr 301 | Condominium | 1,255 | B |
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| 6 Magnolia Dr | Single Family | 3,537 | C |
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| 8 Magnolia Dr | Single Family | 3,929 | B |
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| 725 Gulf Shore Dr | Vacant Residential | 0 | L | |
| 4 Magnolia Dr | Single Family | 3,662 | B |
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| 10 Magnolia Dr | Multi-family - less than 10 units | 6,231 | B |
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| 701 Gulf Shore Dr | Single Family | 2,145 | B |
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| 12 Magnolia Dr | Single Family | 3,789 | B |
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| 5 Magnolia Dr | Single Family | 2,595 | C |
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| 633 Gulf Shore Dr | Single Family | 3,054 | B |
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| 16 Magnolia Dr | Single Family | 4,194 | A |
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Local Household Income
The median household income in this part of Florida is $68,549. The bottom 10% of the population earn less than $21,092 per year. The top 10% earn more than $162,114 per year. The top 1% earn more than $423,170 per year. Most renters earn between $33,396 (20th percentile) and $58,956 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $137,098 and $171,373.
The tax assessed value of this property places it in percentile 57 of all properties in this area. This suggests it would appeal to someone earning around $78,153 per year who should qualify for a mortgage between $156,306 and $195,383.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,020. Most renters earn between $2,783 and $4,913 per month. They typically spend 30% of their monthly income on rent. Most rents fall in the $744 (20th percentile) to $1,362 (80th percentile) range. The residential vacancy rate is 12%.
This property falls in percentile 57 of all properties in this area. This corresponds to a rent of $1,078 per month and a monthly household income of $3,971 ($47,652 per year)
Nearby Companies
725 Gulf Shore Dr
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725 Gulf Shore Dr
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