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Fort Walton Beach 32548 Northwest
228 NW Watson Drive
$300,000
● House - Off Market

228 NW Watson Drive

Fort Walton Beach, FL 32548
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,512 Ft²
$1,679
Est. Monthly

About This Property

FABULOUS NEW PRICE!  Nestled in the heart of Fort Walton Beach; just minutes from sugar-white sandy beaches, military bases, restaurants & shopping!  Highlights of this charming ranch include custom 'cubbies' for storage...shiplap accent walls...'tuxedo' tile flooing in baths...covered patio...large, fenced backyard...renovated guest bath...brick construction...sprawling quarter-acre lot...large pantry/storage area with washer & dryer (both convey) & outdoor storage building!
Unit Size
1,512 Ft²
Days on Market
191 days
Land Size
0.25 acres
Price per sqft
$198
Property Type
House
Property Taxes
$206
HOA Dues
-
Year Built
1963

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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: 6 months ago (ECAR #987954)

Price History

Date / Event Date Event Price
May 14, 2026 Sold
Premium
Sold
Apr 14, 2026 In contract -
In contract
Mar 26, 2026 Price Decreased $300,000
↓ $11K (3.5%)
Price Decreased
Oct 17, 2025 Listed by Coldwell Banker Realty $310,900
Listed by Coldwell Banker Realty
Aug 12, 2021 Sold
Premium
Sold
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1963
  • Effective Year Built: 1963
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 58
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,030
  • Lot Size Frontage Feet: 840
  • Total Building Area: 1,986
  • Gross Building Area: 1,986
  • Building Area: 1,596
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,596
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: VESTA HTS 2ND ADD
  • Land Acres: 0000000253
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: VESTA HTS 2ND ADD LOT 7 BLK A

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 022500

Geography

  • Assessors Map Reference: 52
  • Parcel: 11-2S-24-258C-000A-0070
  • Block: A
  • Lot: 7
  • Meridian: SEC 11 TWN 02S RNG 24W
  • Municipality: FORT WALTON BEACH
  • Latitude: 30.4208
  • Longitude: -86.6287

    Address

  • Full Address: 228 Watson Dr Nw
  • Address - House Number: 228
  • Street Segment Direction: NW
  • Address - Street Name: Watson
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Fort Walton Beach
  • Carrier Code: C005
  • 4-Digit Zip Code: 4270
  • Zip Code: 32548

Valuation

    Tax

  • Total Area: 1,689
  • Tax Year: 2023
  • Tax Amount: $244,745
  • Tax Rate Code Area: 004

    Appraisal Valuation

  • Standard Deviation: 0.2062
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 72
  • Final Value: 332,886
  • High Value: 401,539
  • Low Value: 264,233

    Market Valuation

  • Market Total Value: $225,580
  • Market Land Value: $60,998
  • Market Improvement Value: $164,582

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $215,715

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Aug 12, 2021
  • Current Sale Recording Date: Aug 12, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3480061
  • Previous Sale Recording Date: Sep 11, 2019
  • Previous Sale Contract Date: Aug 23, 2019
  • Previous Sale Amount: $210,000
  • 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 Northwest

Stats & Trends

Median Asking:

$327,450

Sale Price/ft²

$200

Below Asking

0.04%

Average Days on Market

91

Average Home Size

1638 ft²

Average Home Age

61.2 years

Currently For Sale

20 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: Lisa Lethcoe, Coldwell Banker Realty
Last Updated: 6 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 987954
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 228 Watson Drive built and last sold?
The property at 228 Watson Drive was built in 1963 and last sold on Aug 12, 2021 for $260,000.
How much is this home worth?
The estimated value of the home located at 228 Watson Drive is $0.
What are some comparable homes to 228 Watson Drive?
There are currently no comparable homes to 228 Watson Drive.
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