117 Jolly Bay and 221 Johnson Road
About This Property
Great opportunity for Two adjacent parcels. Both have City water is available with their tap fees paid. Also, sewer is at the road (tap fees is due). There may also be an old well and/or septic on each lot. Buyer responsibility to complete due diligence confirming existence & viability of any of the existing utilities,
Zoned Rural Village, allows for auxiliary dwellings. NO FLOOD insurance required
No Wetlands per GIS mapping.
Existing Survey available. We have a recent survey that shows the GIS locations for the county are incorrect for 117 Jolly Bay Rd, which leads us to believe they are incorrect for 221 Johnson Lane. The OLD survey also confirms there were NO encroachments of homes when that survey was completed. It will be important to get a survey of 221 Johnson Lane to confirm.
Please note: The property appraiser lines DO NOT appear to be accurate as Walton Co GIS are provided for estimates only.
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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 |
|---|---|---|---|
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| Feb 28, 2026 | Relisted | $225,000 | |
| Relisted | |||
| Feb 19, 2026 | In contract | - | |
| In contract | |||
| Nov 22, 2025 | Listed by Coldwell Banker Realty | $225,000 | |
| Listed by Coldwell Banker Realty | |||
| Mar 6, 2025 | Relisted | $150,000 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017