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Okaloosa 32569 Cobia Bay South
236 Tecumseh Lane
$1,000,000
● House - Off Market

236 Tecumseh Lane

Mary Esther, FL 32569
bedrooms
5 Beds
bathrooms
3 Baths
$5,397
Est. Monthly
1.97%
Cap Rate

About This Property

Waterfront elegance in a gated community and minutes from Hurlburt Field, this 5 bedroom, 3 bath home offers 3,322 square feet of coastal living. Located on a 0.38-acre waterfront lot, this residence blends serene views with elegant finishes. Inside, you'll find an open-concept floor plan featuring engineered hardwood flooring, soaring ceilings, and abundant natural light. The kitchen boasts granite countertops, stainless steel appliances, and custom cabinetry. French doors open from the living area and multiple bedrooms onto large private balconies. The home features a bedroom and living space upstairs providing various options for guests, a two-car garage and a large ground-level enclosed area. With close proximity to beaches, shopping, and dining, this is coastal living at its finest.
Unit Size
-
Days on Market
246 days
Land Size
0.38 acres
Price per sqft
-
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
2004

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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: 8 months ago (ECAR #979661)

Price History

Date / Event Date Event Price
Feb 27, 2026 Sold
Premium
Sold
Jan 2, 2026 In contract -
In contract
Oct 25, 2025 Price Decreased $1,099,000
↓ $47K (4.1%)
Price Decreased
Aug 30, 2025 Price Decreased $1,146,000
↓ $50K (4.2%)
Price Decreased
Jul 9, 2025 Price Decreased $1,196,000
↓ $50K (4%)
Price Decreased
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2004
  • Effective Year Built: 2004
  • Building Count: 1
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 3
  • Roof Shape Type: 9
  • Roof Cover Type: 21
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 575
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 58
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 16,708
  • Lot Size Frontage Feet: 320
  • Total Building Area: 5,976
  • Gross Building Area: 5,976
  • Building Area: 3,322
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 3,322
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: COBIA BAY SOUTH
  • Land Acres: 0000000384
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: COBIA BAY SOUTH LOT 7 BLK C

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023100

Geography

  • Assessors Map Reference: 59
  • Parcel: 22-2S-25-1111-000C-0070
  • Block: C
  • Lot: 7
  • Meridian: SEC 22 TWN 02S RNG 25W
  • Municipality: FLOROSA FIRE (SW)
  • Latitude: 30.406
  • Longitude: -86.7422

    Address

  • Full Address: 236 Tecumseh Ln
  • Address - House Number: 236
  • Address - Street Name: Tecumseh
  • Address - Suffix Type: Ln
  • State: FL
  • City Name: Mary Esther
  • Carrier Code: R006
  • 4-Digit Zip Code: 2202
  • Zip Code: 32569

Valuation

    Tax

  • Total Area: 4,023
  • Tax Year: 2023
  • Tax Amount: $844,499
  • Tax Rate Code Area: 021

    Appraisal Valuation

  • Standard Deviation: 0.1952
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 74
  • Final Value: 843,810
  • High Value: 1,008,600
  • Low Value: 679,020

    Market Valuation

  • Market Total Value: $865,668
  • Market Land Value: $131,182
  • Market Improvement Value: $734,486

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $729,308

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Nov 15, 2018
  • Current Sale Recording Date: Nov 21, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3244556
  • Previous Sale Recording Date: Sep 01, 2015
  • Previous Sale Contract Date: Aug 28, 2015
  • Previous Sale Amount: $343,000
  • 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 Cobia Bay South

Stats & Trends

Median Asking:

$1,500,000

Sale Price/ft²

$531

Above Asking

0.00%

Average Days on Market

127

Average Home Size

2825 ft²

Average Home Age

-

Currently For Sale

0 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

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Currently no similar homes around

Nearby Rentals

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ECAR

Listed by: Courtney T Williams, Avenue Realty
Last Updated: 8 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 979661
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 236 Tecumseh Lane built and last sold?
The property at 236 Tecumseh Lane was built in 2004 and last sold on Nov 15, 2018 for $490,000.
How much is this home worth?
The estimated value of the home located at 236 Tecumseh Lane is $0.
What are some comparable homes to 236 Tecumseh Lane?
There are currently no comparable homes to 236 Tecumseh Lane.
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