63
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167 Lakeland Drive
About This Property
The heart of the home is the spacious open-concept first floor, where the living, dining, and kitchen areas flow seamlessly together beneath soaring ceilings and abundant natural light, creating an inviting atmosphere for entertaining and everyday living. The fresh, sophisticated coastal design offers the perfect blend of comfort and elegance throughout all three thoughtfully designed levels.
The first-floor primary suite provides a private sanctuary, while the second floor features three additional bedrooms and two baths ideal for family and guests. The expansive third-floor suite offers a large sleeping and sitting area, wet bar, and full bath--creating the perfect bedroom area room, media space, or private guest retreat.
Just a short stroll or golf cart ride to the sugar-white sands, dining, and entertainment, this home blends luxury, comfort, and convenience in one of Miramar Beach's most desirable communities. Whether you are seeking a full-time residence, second home, or high-performing vacation rental investment, this exceptional property offers the ultimate Emerald Coast lifestyle
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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 26, 2026 | Price Decreased |
$1,450,000
↓ $45K
(3%) | |
| Price Decreased | |||
| Aug 1, 2026 | Price Decreased |
$1,495,000
↓ $30K
(2%) | |
| Price Decreased | |||
| May 21, 2026 | Listed by RE/MAX by the Sea | $1,525,000 | |
| Listed by RE/MAX by the Sea | |||
| Apr 19, 2023 | No longer available | - | |
| No longer available | |||
| Mar 29, 2023 | Listed by Pelican Real Estate | $2,095,000 | |
| Listed by Pelican Real Estate | |||
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This stunning three-story home, recently built in the exclusive gated community of Villas of Frangista, offers a luxurious coastal lifestyle. This home, boasting six bedrooms and five and a half baths, 3048 square feet of elegantly designed living space, a primary suite on the first floor, and a spacious gourmet kitchen ideal for hosting guests, is perfect for those seeking comfort and entertainment. The gorgeous backyard has a privacy fence, an outdoor shower, and a private gas-heated pool that ensures year-round enjoyment under the radiant Florida sun. Located just minutes away from fine restaurants, world-class fishing, golf courses, national parks, high-end shopping centers, and our pristine sugary white beaches of the Emerald Coast, convenience is abundant. The manager has listed the unit size as 3048 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017