1154 Forest Shore Drive
About This Property
Centrally positioned in the Miramar/Destin area, this stunning 4 Bedroom RANCH style home offers both luxury and convenience. Whether shopping, dining, boating or heading to the beach, all can be reached within a very short period of time. Four dedicated Bedrooms and three full baths along with an additional bonus room that can be an office (or 5th Bedroom) offers flexible options. A formal dining room, gourmet kitchen with separate eat-in-bar, spacious laundry and 2 car garage make this single floor home unique. The spacious master bedroom with views of the outdoor oasis also includes a recently, fully updated master bathroom with dual vanities that showcases the main living quarters. Hardwood and tile flooring along with crown molding, trayed ceilings and arched doorways present an upscaled, high-crafted feel upon entering the home.
The white brick exterior with dark gray accents, a new roof and a brick paved driveway showcase this home from the curbside. A vinyl white-sided fence extends throughout the perimeter of the home adding both privacy and elegance to the property.
With no HOA restrictions, the opportunity to short term rent opens up this home as a potential investment opportunity boasting an already established book of vacation rentals that has the potential of yielding $94,000 annually (see attached projection).
With close to $100,000 worth of furnishings, updates and added inclusions, this home is a must see!!
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jul 10, 2025 | Sold | ||
| Sold | |||
| Jun 27, 2025 | In contract | - | |
| In contract | |||
| Apr 15, 2025 | Price Decreased |
$945,000
↓ $10K
(1.1%) | |
| Price Decreased | |||
| Feb 14, 2025 | Listed by Christies International Real Estate Emerald Coast | $955,000 | |
| Listed by Christies International Real Estate Emerald Coast | |||
| Jan 28, 2022 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017