129 Cypress Drive (LOT 12) Drive
About This Property
Enjoy tranquil pond views from the front of the lot, creating a stunning architectural opportunity and unforgettable curb appeal. Located in Phase 1, just a short 0.2-mile stroll to the resort-style amenity center, this homesite combines privacy with convenience.
Sitting approximately 30 feet above sea level and located in Flood Zone X, no flood insurance is required--an increasingly valuable advantage along 30A. PRICE REDUCED! This exceptional homesite offers rare privacy, with no homes permitted in front or directly behind. Imagine relaxing on your front balcony, taking in serene views of the picturesque cypress ponds.
Cypress Dunes is a 44-acre, resort-style community featuring an infinity-edge pool with breathtaking Gulf views, a hot tub, fitness center, and a beautifully appointed clubhouse complete with an outdoor fireplace and summer kitchen. Residents also enjoy a sunset viewing deck and a second waterfall pool in Phase II. Additional amenities include tennis and pickleball courts, scenic walking trails, boardwalks, expansive green spaces, and lush native landscaping.
Ideally located, this peaceful coastal retreat offers convenient access to 30A, Miramar Beach, Sandestin, and Grand Boulevard--providing the perfect balance of tranquility and accessibility.
The HOA includes professional landscaping and on-site community association management for ease of living.
Renowned for its commitment to preserving the area's natural beauty, Cypress Dunes offers sweeping views of coastal dunes and the Gulf, creating a harmonious blend of luxury and nature. This is an ideal setting for those seeking an elevated coastal lifestyle with world-class amenities.
Build your dream home with one of the 4 builders which includes three 2024 approved builders: Key Lime Construction, The Pro-Built Company, or Coastal Custom Home Building, OR bring your own builder (subject to application and HOA Board approval). Design a custom residence spanning 1,600 to 4,000 square feet (up to three stories), submit plans to the Design Review Board, and bring your vision to life. Don't miss this rare opportunity to secure one of the few remaining homesites in Cypress Dunes.
The HOA fees are done in two different ways. It is all about the amenities. If you own a vacant lot, and do not plan to use the amenities, pay a reduced tier 2 fee of $792.00 per quarter. If you have a vacant lot and want to use the amenities or have a home, then the fee is $1200.00 per quarter.
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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 |
|---|---|---|---|
| Sep 2, 2026 | Price Decreased |
$250,000
↓ $25K
(9.1%) | |
| Price Decreased | |||
| Mar 27, 2026 | Price Decreased |
$275,000
↓ $10K
(3.5%) | |
| Price Decreased | |||
| Jan 7, 2026 | Relisted | $285,000 | |
| Relisted | |||
| Dec 26, 2025 | In contract | - | |
| In contract | |||
| Oct 24, 2025 | Price Increased |
$285,000
↑ $10K
(3.6%) | |
| Price Increased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017