1037 Everglade Drive
About This Property
Located near Boggy Bayou and Choctawhatchee Bay, Niceville is known for its strong sense of community, highly regarded schools, waterfront parks, and outdoor recreation. Residents enjoy nearby attractions including Turkey Creek Nature Trail, local parks, boating, kayaking, fishing, and easy access to the shopping, dining, and entertainment of Destin. Destin, often called the ''World's Luckiest Fishing Village,'' is famous for its deep-sea fishing, harbor activities, waterfront dining, and the unforgettable experience of Crab Island -- a popular boating destination with crystal-clear shallow water and a vibrant coastal atmosphere.
The property is also conveniently located near hospitals, grocery stores, Northwest Florida State College, golf courses, marinas, parks, and top-rated recreational areas, making it ideal for both full-time living and long-term investment potential.
The existing mobile home is being sold As-Is and requires significant repairs and updating. Buyers may choose to remove and replace the mobile home or renovate the current structure. This property may qualify for a VA or FHA NEW construction loan, creating an excellent opportunity for buyers looking to build new in one of Northwest Florida's most desirable and centrally located communities. Bring your vision and take advantage of this waterfront property with endless potential!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 4, 2026 | Sold | ||
| Sold | |||
| May 23, 2026 | In contract | - | |
| In contract | |||
| May 19, 2026 | Listed by Coldwell Banker Realty | $110,000 | |
| Listed by Coldwell Banker Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017