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Okaloosa 32578 Rocky Bayou
2806 Edgewater Drive
$800,000
● House - Off Market

2806 Edgewater Drive

Niceville, FL 32578
bedrooms
5 Beds
bathrooms
4 Baths
$5,981
Est. Monthly
1.99%
Cap Rate

About This Property

Property is being sold as land value only, no access will be given to the house.  Beautifully treed waterfront lot with 1.39 acres on Rocky Bayou.
Unit Size
-
Days on Market
68 days
Land Size
1.39 acres
Price per sqft
-
Property Type
House
Property Taxes
$579
HOA Dues
-
Year Built
1973

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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: 2 years ago (ECAR #968794)

Price History

Date / Event Date Event Price
May 5, 2025 Sold
Premium
Sold
Mar 14, 2025 In contract -
In contract
Feb 17, 2025 Listed by EXP Realty LLC $1,100,000
Listed by EXP Realty LLC

Property Highlights

With View

Building Info

Overview

    General

  • Year Built: 1973
  • Effective Year Built: 1973
  • Building Count: 1
  • Bedroom Count: 5
  • Bathroom Count: 4
  • Full Bathrooms: 4
  • Partial Bathrooms: 4
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 5
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 1
  • Garage Type: 1
  • Garage Square Area: 883
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 89
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 60,537
  • Lot Size Depth Feet: 5,000
  • Lot Size Frontage Feet: 1,700
  • Total Building Area: 5,156
  • Gross Building Area: 5,156
  • Building Area: 3,981
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 3,981
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: ROCKY BAYOU EST
  • Land Acres: 0000001390
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: ROCKY BAYOU EST #1 LOT 5 BLK A

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 020900

Geography

  • Assessors Map Reference: 30
  • Parcel: 10-1S-22-2830-000A-0050
  • Block: A
  • Lot: 5
  • Meridian: SEC 10 TWN 01S RNG 22W
  • Municipality: EAST NICEVILLE FIRE
  • Latitude: 30.5077
  • Longitude: -86.4291

    Address

  • Full Address: 2806 Edgewater Dr
  • Address - House Number: 2806
  • Address - Street Name: Edgewater
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Niceville
  • Carrier Code: R009
  • 4-Digit Zip Code: 2313
  • Zip Code: 32578

Valuation

    Tax

  • Total Area: 4,608
  • Tax Year: 2023
  • Tax Amount: $695,002
  • Tax Rate Code Area: 015

    Appraisal Valuation

  • Standard Deviation: 0.1293
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 85
  • Final Value: 1,242,931
  • High Value: 1,403,645
  • Low Value: 1,082,218

    Market Valuation

  • Market Total Value: $1,104,632
  • Market Land Value: $670,274
  • Market Improvement Value: $434,358

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $577,869

    Exemptions

  • Widow Exemption: Yes
  • Homeowner Exemption: Yes
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 Rocky Bayou

Stats & Trends

Median Asking:

$675,000

Sale Price/ft²

$260

Below Asking

0.02%

Average Days on Market

83

Average Home Size

2523 ft²

Average Home Age

33.4 years

Currently For Sale

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

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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ECAR

Listed by: Justin B Myers, EXP Realty LLC
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 968794
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 2806 Edgewater Drive built and last sold?
The property at 2806 Edgewater Drive was built in 1973 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 2806 Edgewater Drive is $1,111,000.
What are some comparable homes to 2806 Edgewater Drive?
There are currently no comparable homes to 2806 Edgewater Drive.
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