241 Mullet Drive
About This Property
Welcome to 241 Mullet Drive-a beautifully updated 3-bedroom, 3-bathroom home offering abundant space 2249 SQ FT, flexibility, and functionality in the heart of Freeport with NO HOA. This residence features luxury vinyl plank flooring and granite countertops throughout, delivering a modern, cohesive feel.
The open-concept layout provides a generous main living area ideal for entertaining or everyday living. A standout feature is the expansive secondary master suite, created by combining two bedrooms-easily convertible back to a 4-bedroom layout if desired.
The converted garage functions as a private mother-in-law suite, complete with its own bathroom and separate entrance; perfect for guests, extended family/friends, or potential rental opportunities.
Step outside and discover the property's incredible extras:
A huge 40x60 barn on a concrete slab; designed with the idea of a man cave or she-shed in mind, offering endless potential for hobbies, storage, or workspace.
A 40x18 pole barn, ideal for protecting your RV, boat, or recreational vehicles.
All this, just a short drive to Freeport's town center, the new Walmart Coming Soon, and the world-famous South Walton beaches along the Emerald Coast, offering sugar-white sand and turquoise waters. Enjoy the best of both worlds - peaceful country living with quick access to coastal paradise.
This is your opportunity to own a truly unique and versatile home close to everything Northwest Florida has to offer. Don't forget, there is a separate lot if you needed to convert the 40x60 barn into a house. Call today before it's gone.
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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 |
|---|---|---|---|
| Nov 21, 2025 | Sold | ||
| Sold | |||
| Oct 23, 2025 | In contract | - | |
| In contract | |||
| Oct 6, 2025 | Price Decreased |
$465,000
↓ $5K
(1%) | |
| Price Decreased | |||
| Sep 29, 2025 | Price Decreased |
$469,499
↓ $500
(0.1%) | |
| Price Decreased | |||
| Sep 20, 2025 | Price Decreased |
$469,999
↓ $9K
(1.8%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017