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Shalimar 32579 Shalimar
209 Shalimar Drive
$500,000
● House - Off Market

209 Shalimar Drive

Shalimar, FL 32579
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
$2,736
Est. Monthly
$280
HOA / Fees
3.89%
Cap Rate

About This Property

Waterfront Living with Panoramic Bayou Views! This stunning 3-bedroom, 2.5 bath townhome offers the ultimate coastal lifestyle with breathtaking views of the bayou and your own deeded 30' deep-water boat slip with lift. Inside on the first floor you will find a living room, formal dining, kitchen, and a half bath. The spacious living room perfect for relaxing or entertaining, complete with custom built-ins. The kitchen features granite countertops, a breakfast bar, and plenty of space to gather and enjoy. The three bedrooms and two full bathrooms are all located on the second floor. Whether you are sipping on coffee enjoying the serene water views or out on the boat for a sunset cruise, this home delivers the best of waterfront living.  Schedule your showing today!
Unit Size
-
Days on Market
45 days
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
-
HOA Dues
$280
Year Built
1987

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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 #976194)

Price History

Date / Event Date Event Price
Jun 27, 2025 Sold
Premium
Sold
May 18, 2025 In contract -
In contract
May 13, 2025 Listed by Realty ONE Group Emerald Coast $500,000
Listed by Realty ONE Group Emerald Coast
Apr 4, 2017 Sold
Premium
Sold
Nov 12, 2013 Sold
Premium
Sold

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1987
  • Effective Year Built: 1987
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 35
  • Exterior Walls Type: 17
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 21
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 5
  • Porch Type: 14
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,158
  • Lot Size Frontage Feet: 250
  • Total Building Area: 2,280
  • Gross Building Area: 2,280
  • Building Area: 1,957
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,957
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GARNIERS CAY T/H
  • Land Acres: 0000000096
  • Standard Land Use Code: 1001
  • County Land Use Code: 000109
  • State Land Use Code: 01
  • Legal Description 1: GARNIERS CAY T/H LOT 5 BOAT SLIP G-S

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 021502

Geography

  • Assessors Map Reference: 44
  • Parcel: 06-2S-23-1022-0000-0050
  • Lot: 5
  • Meridian: SEC 06 TWN 02S RNG 23W
  • Municipality: SHALIMAR
  • Latitude: 30.4416
  • Longitude: -86.5847

    Address

  • Full Address: 209 Shalimar Dr
  • Address - House Number: 209
  • Address - Street Name: Shalimar
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Shalimar
  • Carrier Code: C006
  • 4-Digit Zip Code: 1242
  • Zip Code: 32579

Valuation

    Tax

  • Total Area: 2,030
  • Tax Year: 2023
  • Tax Amount: $596,461
  • Tax Rate Code Area: 007

    Appraisal Valuation

  • Standard Deviation: 0.1941
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 74
  • Final Value: 548,832
  • High Value: 655,406
  • Low Value: 442,259

    Market Valuation

  • Market Total Value: $465,542
  • Market Land Value: $150,000
  • Market Improvement Value: $315,542

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $465,542
  • Assessed Land Value: $150,000
  • Assessed Improvements Value: $315,542

    Sales

  • Current Sale Contract Date: Mar 31, 2017
  • Current Sale Recording Date: Apr 04, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3126979
  • Previous Sale Recording Date: Nov 12, 2013
  • Previous Sale Contract Date: Oct 29, 2013
  • Previous Sale Amount: $300,000
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: ADJ
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 Shalimar

Stats & Trends

Median Asking:

$569,000

Sale Price/ft²

$254

Below Asking

0.02%

Average Days on Market

55

Average Home Size

2015 ft²

Average Home Age

43.8 years

Currently For Sale

12 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: Jacqueline Luberto, Realty ONE Group Emerald Coast
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 976194
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 209 Shalimar Drive built and last sold?
The property at 209 Shalimar Drive was built in 1987 and last sold on Mar 31, 2017 for $369,917.
How much is this home worth?
The estimated value of the home located at 209 Shalimar Drive is $0.
What are some comparable homes to 209 Shalimar Drive?
There are currently no comparable homes to 209 Shalimar Drive.
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