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Destin 32541 Destiny
117 Cayman Cove
$1,300,000
● House - Off Market

117 Cayman Cove

Destin, FL 32541
bedrooms
5 Beds
bathrooms
4 Baths, 1 Half Bath
$11,092
Est. Monthly
$3,575
HOA / Fees
-1.79%
Cap Rate

About This Property

Flood Insurance not required! Experience the perfect blend of elegance, comfort, and location in this newly built 5BR/5BA showpiece in Destiny West, which is just across from the beach (James Lee Park - Crab Trap), and moments from sugar-white sands.  The light filled floor plan features a gourmet Kitchen with under counter ice maker, spa inspired bathrooms, and open concept living. There are 3 Primary suites, 2 guest rooms, 2 laundry locations and 3 beautifully inviting covered porches.  This custom built home was designed with full time living in mind but also serves as a great income producing investment property. Offered fully furnished and move in ready! Enjoy all the amenities of Destiny, including Tennis, Pickleball, Basketball, Pool, Hot tub, Gym and clubhouse.
Unit Size
-
Days on Market
60 days
Land Size
0.12 acres
Price per sqft
-
Property Type
House
Property Taxes
$1,010
HOA Dues
$3,575
Year Built
2023

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 12 months ago (ECAR #982973)

Price History

Date / Event Date Event Price
Oct 11, 2025 Sold
Premium
Sold
Sep 26, 2025 In contract -
In contract
Sep 24, 2025 Price Decreased $1,325,000
↓ $75K (5.4%)
Price Decreased
Aug 12, 2025 Listed by One Beach Real Estate $1,400,000
Listed by One Beach Real Estate
Jan 17, 2020 Sold
Premium
Sold

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 2023
  • Effective Year Built: 2023
  • Building Count: 1
  • Bedroom Count: 6
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 4
  • Floor Count: 200
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Garage Square Area: 324
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 126
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,309
  • Total Building Area: 3,462
  • Gross Building Area: 3,462
  • Building Area: 2,790
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 2,790
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DESTINY S/D
  • Land Acres: 0000000122
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 000000
  • Legal Description 1: DESTINY S/D LOT 138

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023308

Geography

  • Assessors Map Reference: 47
  • Parcel: 00-2S-22-0400-0000-1380
  • Lot: 138
  • Municipality: DESTIN
  • Latitude: 30.3846
  • Longitude: -86.4104

    Address

  • Full Address: 117 Cayman Cv
  • Address - House Number: 117
  • Address - Street Name: Cayman
  • Address - Suffix Type: Cv
  • State: FL
  • City Name: Destin
  • Carrier Code: C018
  • 4-Digit Zip Code: 3796
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 2,975
  • Tax Year: 2023
  • Tax Amount: $272,220
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.4855
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 2
  • Final Value: 274,238
  • High Value: 407,387
  • Low Value: 141,088

    Market Valuation

  • Market Total Value: $233,709
  • Market Land Value: $231,084
  • Market Improvement Value: $2,625

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $233,709
  • Assessed Land Value: $231,084
  • Assessed Improvements Value: $2,625

    Sales

  • Current Sale Contract Date: Jan 15, 2020
  • Current Sale Recording Date: Jan 17, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3331355
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Destiny

Stats & Trends

Median Asking:

$1,394,000

Sale Price/ft²

$557

Below Asking

0.06%

Average Days on Market

117

Average Home Size

3234 ft²

Average Home Age

22.7 years

Currently For Sale

15 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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ECAR

Listed by: Cheryl A St Pe, One Beach Real Estate
Last Updated: 12 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 982973
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Frequently Asked Questions

When was property at 117 Cayman Cove built and last sold?
The property at 117 Cayman Cove was built in 2023 and last sold on Jan 15, 2020 for $180,000.
How much is this home worth?
The estimated value of the home located at 117 Cayman Cove is $0.
What are some comparable homes to 117 Cayman Cove?
There are currently no comparable homes to 117 Cayman Cove.
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