Municipal S/D
Homes for Sale in Fort Walton Beach, FL
All 414 homes for sale in Fort Walton Beach, FL · median $398,000 · 282 homes for sale in 32548 · Okaloosa County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of October 2026, the MLS records 31 closed sales in Municipal S/D 1ST Addn in Fort Walton Beach, FL since 1994, the most recent in July 2026. Across Fort Walton Beach as a whole, 287 homes closed in the last 12 months at a median of $357,612, 39 median days on market, with 99 homes for sale today. At that median and Okaloosa County's FY2025-26 rate of 12.89 mills, annual property tax runs about $4,610 ($4,100 with the full homestead exemption).
Part of Municipal, Fort Walton Beach, FL — see all Municipal homes for sale (2 listings across 3 sections in the MLS).
| Location | Fort Walton Beach, Okaloosa County, FL · ZIP 32548 |
|---|---|
| Homes in the community | 170 (FL DOR 2025 assessment roll) |
| Years built | 1958–2022 (median 1963.0) |
| Typical living area | 1,574 sq ft (median) |
| For sale right now | 0 active, 0 pending |
| Owner-occupied (homestead) share | 65% |
Data as of September 20, 2026. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate; housing-stock figures from Florida Department of Revenue public records. Market figures describe homes, not residents. Cite as: Momentum Realty, “MUNICIPAL S/D 1ST ADDN key facts,” movewithmomentum.com/neighborhoods/municipal-s-d-1st-addn, data as of September 20, 2026.
Price here is driven by condition and updates, not by the year on the deed. With a median build year of 1963 and stock running all the way back to 1958, most of these homes have been through at least one renovation cycle; what a buyer pays reflects how much of that work is done and done well. Expect a wide spread between a dated, original-systems house and one that has been taken to studs.
For sellers, the older core of this subdivision means inspections matter more than staging — roof, HVAC, and plumbing age set the tone of a negotiation. For buyers, the payoff is a single-family footprint at a median near 1,573 square feet in an established Fort Walton Beach location, with room to add value through updates rather than square footage.
Nearby homes for sale
No active listings inside MUNICIPAL S/D 1ST ADDN right now. These are the 6 closest homes on the market, by straight-line distance from the community's center; some may sit just outside its boundary.
Listing data from the MLS feeds named on each listing page; deemed reliable but not guaranteed. Refreshed nightly.
The 60-Second Overview
MUNICIPAL S/D 1ST ADDN is a small, established Fort Walton Beach subdivision of about 170 homes, most dating to the early 1960s, where value is a function of how much each house has been modernized.
Emerald Coast MLS sales records identify 60 homes in MUNICIPAL S/D that have changed hands since 2001, built between 1960 and 2019 (median 1964), with a median living area of about 1,281 sq ft and a typical 3-bedroom, 2-bath layout; 100% are single-family homes. Source: Emerald Coast MLS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
County records show 14 qualified sales in MUNICIPAL S/D across 2024–2025 (11 in 2024, 3 in 2025), median $315,000 — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.
Who Municipal S/D is best for.
Best for
- Buyers willing to renovate and add value through updates rather than added square footage
- Owner-occupants wanting a compact single-family home in an established in-town location
- Value-focused buyers who will underwrite roof, HVAC, and plumbing age before the finishes
Probably not for
- Buyers set on new or near-new construction with modern systems out of the box
- Anyone who wants community amenities like a pool, gate, or clubhouse
- Buyers with no budget or appetite for deferred maintenance on older homes
The market around Municipal S/D
Municipal S/D is too small for its own price trend, so here is the market around it.
In ZIP 32548, 322 homes are on the market and 15% are under contract — a slower corner of Fort Walton Beach.
Across Okaloosa County, 1,890 homes are active and 551 pending (23% under contract).
In ZIP 32548 (Fort Walton Beach), 338 homes closed in the last 12 months at a median of $325K, up 11.9% year over year, with a median 41 days on market. Right now 112 active and 32 pending listings put supply at about 5.0 months — a balanced market. See the live ZIP 32548 housing market and the Okaloosa County market.
ZIP and county figures describe the wider market, not Municipal S/D specifically. Momentum Research analysis of MLS records.
Housing distress & ownership in MUNICIPAL S/D 1ST ADDN, Fort Walton Beach
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
The Municipal S/D buying strategy.
If we were buying in Municipal S/D today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Municipal S/D.
An established pocket where condition writes the price
This is a mature neighborhood, not a new-construction tract. The build range spans 1958 to 2022, but the median year of 1963 tells you the character is set by mid-century single-family homes on a compact, walkable street grid inside Fort Walton Beach. The occasional newer or rebuilt house exists, but it is the exception, and it will command a premium for it.
At roughly 65% homestead occupancy, this reads as a lived-in, owner-occupied core rather than a rental-heavy block — which tends to mean steadier upkeep and less turnover. No community amenities show up in current MLS listings, so buyers are paying for the home and the location, not for pools, gates, or association perks. Underwrite the house on its own merits.
The location and the amenities are priced into every listing in Municipal S/D. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a subdivision this old, the difference between a fair price and a money pit is in the systems, not the finishes. We walk the roof age, HVAC, wiring, and plumbing with you before you fall for a kitchen, and we price both sides of a deal off condition rather than a headline number. That is the only honest way to trade in a market where two neighboring homes can be decades apart in real terms.
Municipal S/D in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Municipal S/D buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Municipal S/D sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Municipal S/D, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Municipal S/D home worth?
Get a no-obligation home value based on real comparable sales in Municipal S/D, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Fort Walton Beach →
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Okaloosa County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Okaloosa County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
Frequently Asked Questions
How many homes are in Municipal S/D?
What share of Municipal S/D is owner-occupied?
When were the homes in Municipal S/D built?
Who is the best real estate agent for Municipal S/D?
How do I find a top Fort Walton Beach real estate agent who knows Municipal S/D?
Can Momentum Realty connect me with an agent for Municipal S/D?
Where is Municipal S/D, and what county is it in?
Should you buy in Municipal S/D?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: October 1, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (5 streets, ZIP 32548)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 1994 (31 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Emerald Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Emerald Coast MLS member average and 8 days faster, and we’ll price yours against live local comps.
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See how MUNICIPAL S/D 1ST ADDN fits the bigger picture — live prices, inventory, and Momentum Scores:
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