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Miramar Beach 32550
178 Open Gulf Street
$850,000
● House - Off Market

178 Open Gulf Street

Miramar Beach, FL 32550
bedrooms
6 Beds
bathrooms
6 Baths, 1 Half Bath
square feet
3,052 Ft²
$1,610,218
RealtyHop Estimate
79.11%
Since Jun 1, 2015
National-US
Primary Model

About This Property

PRICE REDUCED! This spacious three story, six bedroom award winning vacation rental with 5 baths in approximately 3,000 square feet can be yours! The first floor has a beautifully furnished living and dining room along with a well appointed open kitchen with all stainless steel appliances. This private residence is comfortable, upscale and professionally decorated which hosts a warm hospitable ambiance. Three of the six bedrooms are set up as master suites. The main master suit is located on the third floor with views of the Gulf. This property has been hugely successful as a vacation rental with gross rental $111,246 in 2013. A private pool and steps to the deeded beach access makes this the perfect beach getaway. Buyers and/or their agents should verify all information to their satisfaction
Unit Size
3,052 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$295
Property Type
House
Property Taxes
$390
HOA Dues
-
Year Built
2005

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 2 years ago (ECAR MLS #707786)

Price History

Date / Event Date Event Price
Jun 2, 2015 Sold
Premium
Sold
Jun 15, 2014 Listed by Ocean Reef Realty Inc $899,000
Listed by Ocean Reef Realty Inc
Aug 11, 2011 Sold
Premium
Sold

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 2005
  • Effective Year Built: 2005
  • Building Count: 1
  • Bedroom Count: 6
  • Bathroom Count: 7
  • Full Bathrooms: 6
  • Partial Bathrooms: 7
  • Bathroom Plumbing Fixtures: 20
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 14
  • Roof Shape Type: 7
  • Roof Cover Type: 14
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 5
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 79
  • Porch Type: 126
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 8,045
  • Total Building Area: 3,052
  • Gross Building Area: 3,052
  • Building Area: 3,052
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 3,052
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MIRAMAR BEACH COTTAGES
  • Land Acres: 0000000185
  • Standard Land Use Code: 1001
  • County Land Use Code: 0100
  • Legal Description 1: LOT 2 MIRAMAR BEACH COTTAGES PB 15-5 OR 2465-623 OR 2589-1745 OR 2871-2956 OR 2980-3388 OR 3201-2893

Neighborhood

  • School District Name: Walton County School District
  • Census Tract: 950609

Geography

  • Assessors Map Reference: S2-33-21
  • Parcel: 33-2S-21-42185-000-0020
  • Lot: 2
  • Meridian: SEC 33 TWN 02S RNG 021
  • Municipality: SOUTH WALTON FIRE
  • Latitude: 30.3736
  • Longitude: -86.3493

    Address

  • Full Address: 178 Open Gulf St
  • Address - House Number: 178
  • Address - Street Name: Open Gulf
  • Address - Suffix Type: St
  • State: FL
  • City Name: Miramar Beach
  • Carrier Code: C027
  • 4-Digit Zip Code: 4159
  • Zip Code: 32550

Valuation

    Tax

  • Total Area: 3,191
  • Tax Year: 2022
  • Tax Amount: $1,236,196
  • Tax Rate Code Area: 007

    Appraisal Valuation

  • Standard Deviation: 0.2585
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 63
  • Final Value: 1,955,851
  • High Value: 2,461,583
  • Low Value: 1,450,119

    Market Valuation

  • Market Total Value: $1,333,918
  • Market Land Value: $500,372
  • Market Improvement Value: $833,546

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $1,333,918
  • Assessed Land Value: $500,372
  • Assessed Improvements Value: $833,546

    Sales

  • Current Sale Contract Date: May 28, 2015
  • Current Sale Recording Date: Jun 02, 2015
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2015661324745
  • Previous Sale Recording Date: Aug 11, 2011
  • Previous Sale Contract Date: Aug 10, 2011
  • Previous Sale Amount: $500,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Miramar Beach

Stats & Trends

Median Asking:

$740,000

Sale Price/ft²

$500

Below Asking

0.03%

Average Days on Market

81

Average Home Size

1704 ft²

Average Home Age

26.5 years

Currently For Sale

983 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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ECAR

Listed by: Jill Olivarez, Ocean Reef Realty Inc
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 707786
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Frequently Asked Questions

When was property at 178 Open Gulf Street built and last sold?
The property at 178 Open Gulf Street was built in 2005 and last sold on May 28, 2015 for $850,000.
How much is this home worth?
The estimated value of the home located at 178 Open Gulf Street is $0.
What are some comparable homes to 178 Open Gulf Street?
There are currently no comparable homes to 178 Open Gulf Street.
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