Furnished Short-Term Rental
New
For Sale
$315,000
32 7Th Avenue, Shalimar, FL 32579
Residential, Shalimar, FL
Property Size1,730 SF
Lot Size0.10 Acres
Price / SF$182.08
Days on Market5
Property Features for 32 7Th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Single Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Dining Room
Parking
3
Parking features
Garage
Interior features
Ceiling Vaulted, Fireplace, Washer/Dryer Hookup
Exterior features
Fenced Back Yard
Fencing
Back Yard, Privacy
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer, Water Heater - Elect
Subdivision
WHISPERING OAKS
Lot features
Interior, Level
Elementary school
Shalimar
Middle school
Pryor
High school
Choctawhatchee
Directions
From Eglin Pkwy, turn right onto 6th Ave. After .2 miles, turn left onto 3rd St. Then take the immediate right onto 7th Ave
Standard status
Active
APN
05-2S-23-2645-0000-008C
Size
1,730 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WHISPERING OAKS LOT 12A
Tax Annual Amount
657
Legal Description
WHISPERING OAKS LOT 12A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1984
Floors in Building
2
Flooring type
Tile, Carpet
Building materials
Frame, Roof Pitched, Siding Vinyl, Siding Wood, Stone
Architectural style
Other
Listing Agency:
World Impact Real Estate
(850) 225-7000
Listed By:
Daniel T Marks · License #3478916
(850) 557-1667
Added: Sep 18
Last Checked: Sep 22 at 6:06AM
MLS# 1012325
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,730-square-foot townhome at 32 7th Avenue, Unit 127, is offered furnished and configured for short-term rental use. The residence includes three bedrooms, two bathrooms, a dining room, vaulted ceilings, tile and carpet flooring, and a fireplace. A kitchen with electric range, refrigerator, dishwasher, disposal, microwave, washer, and dryer supports day-to-day occupancy. Central heating and central air conditioning are installed.
The property occupies 0.1 acres in Shalimar, Florida, within Okaloosa County. Exterior features include a fenced and private backyard, along with a garage. Built in 1984, the home is served by public sewer and carries Resid Single Family zoning.
The property occupies 0.1 acres in Shalimar, Florida, within Okaloosa County. Exterior features include a fenced and private backyard, along with a garage. Built in 1984, the home is served by public sewer and carries Resid Single Family zoning.
Key Highlights
- 1,730‑square‑foot furnished townhome at 32 7th Avenue, Unit 127
- Three bedrooms and two bathrooms with a separate dining room
- Vaulted ceilings and fireplace complement tile and carpet flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,898
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,960
$358.0K
Cap Rate 7%
$255,686
$255.7K
Cap Rate 9%
$198,867
$198.9K
Market Conditions
NOI Build-Up for 1,730 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.3K $19.80/SF
− Vacancy
−$1.7K −$0.99/SF
EGI
$32.5K $18.81/SF
− OpEx
−$14.6K −$8.46/SF
NOI
$17.9K $10.35/SF
Area
Okaloosa County, FL
Vacancy
5.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,960
Cap Rate 7%
$255,686
Cap Rate 9%
$198,867
Alternative Uses
Best Use
Apartment 5plus
$255.7K
$223.7K – $298.3K
NOI $17,898 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$666.7K
$583.4K – $777.8K
NOI $46,668 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 32579, FL
10,444
Population
5,130
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
95%
High-School Grad
3.5 sq mi
ZIP Area
2,984
Density / Sq Mi
$98,014
Median Household Income
$46,926
Median Earnings
$1,582
Median Rent
$430,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Move-in-ready townhome with a furnished interior, private fenced yard, garage, and central heating and cooling.
Where is this short term rental property located?
The property is located at 32 7Th Avenue Shalimar, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,730‑square‑foot furnished townhome at 32 7th Avenue, Unit 127; Three bedrooms and two bathrooms with a separate dining room; Vaulted ceilings and fireplace complement tile and carpet flooring
