23 Paradise Point Road
About This Property
As you approach, a charming front porch welcomes you in, while lush, manicured grass leads the way to your own private waterfront haven.
Step inside to find soaring ceilings and crown molding throughout, setting the tone for elegance and ease. The open, split floor plan offers a seamless flow between living spaces, and nearly every room is kissed by panoramic water views, from the living areas to multiple bedrooms. The kitchen is a hub of connection and comfort, with generous counter space, a view-filled breakfast nook, and sightlines straight to the water. The living area opens effortlessly onto an expansive back porch, perfect for morning coffee, sunset dinners, or simply taking in the peaceful rhythm of the bay.
The master suite is a true retreat, complete with water views, ample closet space, and a private bath. With 4 bedrooms, 3.5 baths, and multiple AC units, the home is designed for both comfort and functionality. The garage offers extensive storage and even a dedicated storage room for all your outdoor gear and boating essentials.
This is more than a home, it's a rare opportunity to own a one-of-a-kind piece of the Emerald Coast. Whether you're hosting or savoring quiet waterfront mornings, this is where memories are made.
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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 |
|---|---|---|---|
| Jan 20, 2026 | Sold | ||
| Sold | |||
| Dec 24, 2025 | In contract | - | |
| In contract | |||
| Sep 26, 2025 | Price Decreased |
$1,850,000
↓ $100K
(5.1%) | |
| Price Decreased | |||
| May 26, 2025 | Listed by Spence Properties | $1,950,000 | |
| Listed by Spence Properties | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017