116 Merle Circle
About This Property
The interior features durable luxury vinyl plank flooring throughout the main living areas, with cozy carpeted bedrooms for added comfort. The open-concept kitchen is designed for everyday living and entertaining, showcasing crisp white shaker cabinetry and stainless steel appliances. Step outside to a fully enclosed backyard that provides privacy and plenty of room for future enhancementsincluding space to add a pool. Ideally situated near Fort Walton Beach's shoreline, dining, and shopping, this home combines convenience, updates, and freedom from HOA restrictions.
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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 |
|---|---|---|---|
| Apr 15, 2026 | Sold | ||
| Sold | |||
| Mar 19, 2026 | In contract | - | |
| In contract | |||
| Mar 12, 2026 | Price Decreased |
$305,000
↓ $14K
(4.4%) | |
| Price Decreased | |||
| Feb 3, 2026 | Listed by Ellis Realty LLC | $319,000 | |
| Listed by Ellis Realty LLC | |||
| Oct 22, 2025 | Price Decreased |
$325,000
↓ $15K
(4.4%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017