Lot 15 Cypress Drive
About This Property
With a minimum home size of just 900 square feet, there is flexibility to build a smaller-footprint cottage or create something larger and completely custom. Water and electric are available at the street.
Here's another advantage that's especially valuable when buying land: the owner is a licensed General Contractor and can offer a cost-plus construction contract with an acceptable offer. Buyers have the option to purchase the lot and work directly with the seller to turn their plans into a finished home.
The location is equally convenient, with Niceville High School, Ruckel Middle School, the Niceville Civic Center, library, and children's park all within walking distance.
Bring your plans and your imagination. If you've been looking for a homesite that gives you the opportunity to build something a little different from the typical Florida home, Lot 16 deserves a closer look.
Buyer to verify all dimensions, utilities, zoning, building requirements, minimum square footage, site conditions, and feasibility of intended improvements.
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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 |
|---|---|---|---|
| Oct 27, 2026 | Price Decreased |
$49,000
↓ $10K
(17%) | |
| Price Decreased | |||
| Aug 20, 2026 | Listed by Coldwell Banker Realty | $59,000 | |
| Listed by Coldwell Banker Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017