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Short-Term Rental · Destin, FL

Short-Term Rental Financing in Destin, FL

Estimated 1.15x DSCR on a $685,000 short-term rental with $171,250 down — qualified on the property's income, not your tax returns.

Modeled Purchase Price
$685,000
25% Down
$171,250
Loan Amount
$513,750
Est. Monthly PITIA
$5,021
Creditable STR Income
$5,760/mo
Est. DSCR Ratio
1.15x

Short-Term Rental investing in Destin

Short-term rental financing in Destin is a different underwriting product than a long-term DSCR loan even though it carries the same name. The lender is crediting nightly revenue instead of a signed lease, which means the documentation, the reserve requirement, and the permit diligence all change.

At the Destin median of $685,000, a short-term rental prices near $685,000. Minimum down is 25% ($171,250), leaving a loan of $513,750. Estimated all-in PITIA runs about $5,021 per month.

The Destin ratio math on this product

Gross nightly revenue in Destin models to about $8,000/month across a full year. Lenders do not credit that dollar-for-dollar — a 28% haircut for vacancy, cleaning, platform fees and management leaves $5,760 of creditable income. Against a PITIA of $5,021, that is an estimated DSCR ratio of 1.15x. That clears the 1.0 minimum most DSCR shelves require for base pricing, but the cushion is thin. Stress-test a tax reassessment and an insurance renewal before you write the offer.

Underwriting notes specific to STR files: plan on 25% down as the floor, six months of PITIA in reserves, and either twelve months of Airbnb/VRBO earnings statements on the subject property or a third-party market revenue study for a property with no operating history. Yes Verify the permit status of the exact address before you go hard on earnest money — an unpermitted STR is an unfinanceable STR on this product.

Returns and structure

Return metrics at the Destin median for this product: an estimated cap rate of 5.55%, and monthly cash flow of $739 positive at 25% down. A file that cash-flows at the minimum down payment is the exception in Florida right now, and it gives you room to absorb an insurance renewal without going to the reserve account.

Destin property types compared

Property TypeModeled PriceMin. DownEst. IncomeEst. DSCR
Single-Family Rental$685,00020% ($137,000)$4,000/mo0.76x
2–4 Unit Multi-Family$1,082,30025% ($270,575)$7,440/mo0.94x
Condo & Townhome$493,20020% ($98,640)$3,160/mo0.77x
Short-Term Rental (this page)$685,00025% ($171,250)$5,760/mo1.15x

All figures model a purchase at the Destin median of $685,000 with the property-type adjustments described above, at an illustrative 7.50% DSCR rate on a 30-year fixed. Short-term rental income is shown after the standard lender haircut.

Figures on this page are modeled estimates derived from the Destin median price and market rent, adjusted for short-term rental product characteristics. They are illustrative, not a loan offer or an appraisal. Actual pricing, rent, taxes, insurance, HOA dues and DSCR depend on the specific property and on conditions at the time of application.

Destin Short-Term Rental FAQ

More Destin investor resources

Destin investor guide
Full market analysis and loan options
Single-Family Rental in Destin
0.76x est. DSCR
2–4 Unit Multi-Family in Destin
0.94x est. DSCR
Condo & Townhome in Destin
0.77x est. DSCR
Okaloosa County investor hub
Every market we finance in the county
DSCR loan requirements in Florida
DSCR payment calculator

Price a short-term rental in Destin

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