17 Compass Point Way
About This Property
Outside, a private pool and landscaped yard provide a serene escape, and the property backs up to a large open green space and pond with easy access, offering room to stroll, play, and unwind. The fourth-floor west-facing lookout tower reveals sweeping views of the Emerald Coast. Dual full-width covered porches invite unhurried mornings and golden-hour evenings. A detached garage and paved driveway complete the offering.
Within the gated Watersound Beach community, residents enjoy multiple pools, a private fitness center, miles of scenic boardwalks, a dog park, and one mile of deeded Gulf beach access. Short-term rentals are permitted, presenting a rare opportunity to own a premier primary residence, second home, or income-producing asset along one of Florida's most sought-after coastlines.
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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 17, 2026 | Price Decreased |
$4,499,000
↓ $126K
(2.7%) | |
| Price Decreased | |||
| Jul 29, 2026 | Price Decreased |
$4,625,000
↓ $25K
(0.5%) | |
| Price Decreased | |||
| Jun 9, 2026 | Price Decreased |
$4,650,000
↓ $40K
(0.9%) | |
| Price Decreased | |||
| Apr 15, 2026 | Price Decreased |
$4,690,000
↓ $100K
(2.1%) | |
| Price Decreased | |||
| Mar 16, 2026 | Listed by Christies International Real Estate Emerald Coast | $4,790,000 | |
| Listed by Christies International Real Estate Emerald Coast | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017