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Destin 32541 Downtown Destin
229 Twin Lakes Drive
$383,000
● House - Off Market

229 Twin Lakes Drive

Destin, FL 32541
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
1,772 Ft²
$2,341
Est. Monthly
$376
HOA / Fees
4.57%
Cap Rate

About This Property

Charming 3-Bedroom home located in the desirable Twin Lakes neighborhood Centrally located in Destin. With over 1700 sq feet of living space, a new roof in 2021, this property offers a fantastic opportunity to make it your own with a few updates. The spacious first floor plan includes a large living area with hardwood floors, an updated kitchen with granite and stainless appliances, laundry room, and more. The primary bedroom features an ensuite bath, and two additional bedrooms provide ample space for family or guests.
Unit Size
1,772 Ft²
Days on Market
-
Land Size
0.08 acres
Price per sqft
$226
Property Type
House
Property Taxes
-
HOA Dues
$376
Year Built
2002

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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 #959154)

Price History

Date / Event Date Event Price
Mar 26, 2025 Sold
Premium
Sold
Mar 4, 2025 In contract -
In contract
Jan 10, 2025 Price Decreased $399,999
↓ $20K (4.8%)
Price Decreased
Sep 14, 2024 Listed by Better Homes and Gardens Real Estate Emerald Coast $420,000
Listed by Better Homes and Gardens Real Estate Emerald Coast
Jul 5, 2018 Sold
Premium
Sold
Show More

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2002
  • Effective Year Built: 2002
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 3
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 1
  • Garage Type: 1
  • Garage Square Area: 400
  • Parking Space Count: 0
  • Patio Type: 5
  • Porch Type: 126
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,563
  • Total Building Area: 2,308
  • Gross Building Area: 2,308
  • Building Area: 1,776
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,776
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TWIN LAKES
  • Land Acres: 0000000082
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: TWIN LAKES S/D LOT 67

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023305

Geography

  • Assessors Map Reference: 47
  • Parcel: 00-2S-22-5330-0000-0670
  • Lot: 67
  • Municipality: DESTIN
  • Latitude: 30.3927
  • Longitude: -86.4738

    Address

  • Full Address: 229 Twin Lakes Ln
  • Address - House Number: 229
  • Address - Street Name: Twin Lakes
  • Address - Suffix Type: Ln
  • State: FL
  • City Name: Destin
  • Carrier Code: C030
  • 4-Digit Zip Code: 2865
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 2,008
  • Tax Year: 2023
  • Tax Amount: $222,065
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.1782
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 76
  • Final Value: 494,236
  • High Value: 582,335
  • Low Value: 406,137

    Market Valuation

  • Market Total Value: $335,270
  • Market Land Value: $98,600
  • Market Improvement Value: $236,670

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $224,425

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jun 28, 2018
  • Current Sale Recording Date: Jul 05, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3217803
  • Previous Sale Recording Date: Jul 28, 2014
  • Previous Sale Contract Date: Jul 25, 2014
  • Previous Sale Amount: $216,600
  • 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 Downtown Destin

Stats & Trends

Median Asking:

$342,450

Sale Price/ft²

$264

Below Asking

0.03%

Average Days on Market

93

Average Home Size

1124 ft²

Average Home Age

35.5 years

Currently For Sale

37 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: John J Holahan, Better Homes and Gardens Real Estate Emerald Coast
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 959154
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 229 Twin Lakes Drive built and last sold?
The property at 229 Twin Lakes Drive was built in 2002 and last sold on Jun 28, 2018 for $245,000.
How much is this home worth?
The estimated value of the home located at 229 Twin Lakes Drive is $0.
What are some comparable homes to 229 Twin Lakes Drive?
There are currently no comparable homes to 229 Twin Lakes Drive.
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