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2309 Canal Drive
About This Property
The main floor offers an open floor plan featuring an updated kitchen with a large island, breakfast bar, stainless steel appliances, and abundant countertop space, flowing seamlessly into the dining and living areas, highlighted by a cozy wood-burning fireplace.
Upstairs, the primary suite features a walk-in closet and private en-suite bathroom, while three additional bedrooms and a full bathroom with a double vanity complete the upper level.
The lower level includes a spacious den and full bathroom, offering flexible space for a family room, home office, or playroom.
Enjoy the backyard retreat with a SPARKLING IN-GROUND POOL and plenty of space to relax or entertain.
Recent updates include newer windows and exterior doors (except one picture window in the living room), newer vinyl siding, two newer HVAC systems (2019), and a new hurricane rated garage door and opener (2024).
Centrally located in Niceville with easy commute to local military bases, shopping, restaurants, and the sugar-white beaches and emerald waters of Destin.
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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 21, 2026 | Sold | ||
| Sold | |||
| Jul 24, 2026 | In contract | - | |
| In contract | |||
| Jul 3, 2026 | Listed by Sound Choice Real Estate LLC | $550,000 | |
| Listed by Sound Choice Real Estate LLC | |||
| Jun 13, 2017 | Sold | ||
| Sold | |||
| Nov 8, 2016 | Listed by Sound Choice Real Estate LLC | $219,000 | |
| Listed by Sound Choice Real Estate LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017