140 Chippewa Drive
About This Property
Drink in spectacular, panoramic views of the Choctawhatchee Bay and overlook the serene secluded bayou waters of Grass Lake. Inside the brick home, an incredibly spacious layout anchored by original, retro-style decor and durable tile throughout--offering a fantastic, solid canvas for vintage design lovers or anyone looking to customize their dream coastal retreat. The 1.3 acre grounds feature a spectacular, park-like setting that effortlessly blends natural beauty with functional open space. A meticulously cleared, expansive lawn offers plenty of room for outdoor activities, pets, or perhaps even future additions, while mature, swaying palm trees adjorn the property to create an unmistakable, relaxed vibe. Own a private, sun-drenched sanctuary right by the water with NO HOA!
The property boasts an Ultimate Hobbyist & Adventure setup for auto enthusiasts or craft lover, alike.
An Oversized 4-Car Garage has a massive footprint with ample room for multiple vehicles, toys, and gear.
A dedicated Mechanic Shop is fully ready for projects, heavy tools, and specialized work. A must see! Beside the garage is a covered RV Carport with high-clearance protection and will keep your motorhome, boat, or camper safe from the elements.
Do not disturb! Appointments must be scheduled to view the home and/or property.
Listing agents have resourced parcel/property information from the Walton County Property Appraiser's website. While the acquired information is deemed accurate and true, the buyer and/or buyer's agent should verify all details related to this property prior to purchase. The Listing agent and/or Lokation Real Estate broker do not warranty, nor guarantee, this MLS data to be accurate or true. Buyers are to perform their own due diligence and verify all information regarding the parcel, home and their intentions to improve or modify with Walton County Planning and zoning, prior to making their decision to purchase.
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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 9, 2026 | Price Decreased |
$738,000
↓ $36K
(4.7%) | |
| Price Decreased | |||
| Aug 15, 2026 | Price Decreased |
$774,000
↓ $226K
(22.6%) | |
| Price Decreased | |||
| Jul 3, 2026 | Listed by Lokation | $1,000,000 | |
| Listed by Lokation | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017