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228 Matties Way
About This Property
All windows and doors have been replaced with hurricane-impact-rated models, complemented by hurricane-rated garage doors and a new roof installed in August 2021.
The screened back porch, finished with a pine tongue-and-groove ceiling and stone tile flooring, offers the perfect place to relax while enjoying tranquil lake views.
A new paver driveway, upgraded exterior lighting, and a rebuilt irrigation system complete the thoughtful exterior enhancements.
Set on one of the most desirable lots in Kelly Plantation, this property offers breathtaking views of Lake Rangia, a deep manicured backyard, and the serene beauty of the bird sanctuary beyond your porch. Best of all, it sits in Flood Zone X, so no flood insurance is required.
Located within the exclusive gated community of Kelly Plantation, residents enjoy world-class amenities including a meticulously maintained championship golf course, golf clubhouse with bar and grill, ballroom, and restaurant.
A separate Owner's Club offers spaces for meetings and events with both large and small rooms, full kitchen facilities, and a state-of-the-art fitness center. Outdoor recreation abounds with tennis, pickleball, and basketball courts, scenic nature trails, a dog park, and an equestrian center. Just a short golf cart ride away are Destin's iconic sugar-white beaches, along with the area's finest dining, boutique shopping, championship golf, and world-class fishing.
With every major system, finish, and detail recently updated, 228 Matties Way is truly move-in ready. This home embodies the perfect blend of luxury, functionality, and natural beauty - all in a serene and private lakefront setting within one of Destin's most sought-after communities.
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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 |
|---|---|---|---|
| Aug 5, 2026 | Sold | ||
| Sold | |||
| Jul 26, 2026 | In contract | - | |
| In contract | |||
| Jul 7, 2026 | Price Decreased |
$1,550,000
↓ $45K
(2.8%) | |
| Price Decreased | |||
| Jun 10, 2026 | Relisted | $1,595,000 | |
| Relisted | |||
| May 31, 2026 | In contract | - | |
| In contract | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017