105
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231 Bay Circle Drive
About This Property
Designed to capture the stunning bay views, the open floor plan features inviting living spaces with a fireplace and a beautifully appointed kitchen with an island. Updated windows and doors fill the home with natural light while creating a seamless connection to the water and outdoor living areas. Carefully designed landscaping provides privacy while maximizing the expansive bay views.
The primary suite offers a private retreat with a dedicated office, walk-in closet, and beautifully finished bath.
Outdoor living is where this property truly shines, featuring a wraparound deck, covered porch, outdoor shower, and fire pit overlooking the bay.
The waterfront setup is exceptional, with a dock, walkway, and boat lift built on durable concrete pilings. The dock includes a beautiful boathouse, two Jet Ski lifts, a kayak and paddleboard launch platform, and a sunning deck / lounge area perfect for relaxing by the water.
The bay creates a peaceful natural setting where dolphins, nesting ospreys, and herons are frequent visitors, offering a rare connection to the beauty of the Emerald Coast.
Featuring a 2023 metal roof, updated windows and doors, and numerous quality upgrades throughout, this meticulously maintained bayfront home combines coastal elegance, thoughtful improvements, and an unmatched waterfront setting in one of Santa Rosa Beach's most desirable locations.
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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 |
|---|---|---|---|
| Oct 2, 2026 | Price Decreased |
$1,795,000
↓ $100K
(5.3%) | |
| Price Decreased | |||
| Jul 10, 2026 | Listed by The Premier Property Group | $1,895,000 | |
| Listed by The Premier Property Group | |||
| Mar 17, 2023 | Sold | ||
| Sold | |||
| Feb 1, 2023 | No longer available | - | |
| No longer available | |||
| Jan 10, 2023 | Price Increased |
$1,445,000
↑ $46K
(3.3%) | |
| Price Increased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017