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283 Lakeland Drive
About This Property
Unlike many homes in the area, until recently, this home has never been used as a vacation rental, allowing it to remain exceptionally well maintained and showing true pride of ownership. It offers buyers the rare opportunity to purchase a home with outstanding rental potential that has not experienced the wear and tear often associated with high-occupancy rental properties.
Designed for effortless entertaining and everyday comfort, the open-concept floor plan features soaring ceilings, abundant natural light, and seamless flow between the spacious living room, dining area, and gourmet kitchen. The kitchen is equipped with stainless steel appliances, granite countertops, custom cabinetry, and ample workspace, making it as functional as it is stylish.
Offering four generously sized bedrooms, each thoughtfully designed as a private retreat, the home provides plenty of space for family and guests. Upscale finishes and inviting coastal decor create a warm, relaxing atmosphere throughout. Whether you're looking for a primary residence, second home, or a high-performing vacation rental, this property delivers the perfect combination of luxury, location, and income potential--all just moments from the Gulf's world-famous beaches. The home is being sold fully furnished, so bring your beach towel and get ready to enjoy the best the Emerald Coast has to offer!
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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 3, 2026 | Listed by Go Coastal Realty LLC | $1,100,000 | |
| Listed by Go Coastal Realty LLC | |||
| May 21, 2025 | Sold | ||
| Sold | |||
| Apr 16, 2025 | In contract | - | |
| In contract | |||
| Apr 4, 2025 | Price Decreased |
$1,174,000
↓ $25K
(2.1%) | |
| Price Decreased | |||
| Nov 6, 2024 | Listed by Coldwell Banker Realty | $1,199,000 | |
| Listed by Coldwell Banker Realty | |||
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$99k in rental income potential! Just steps away from the pristine sands of the Gulf, this elegant residence seamlessly combines coastal charm with refined style. Perfectly situated for beach lovers and includes deeded beach access, this home offers both the relaxation of seaside living and the warmth of a beautifully designed interior.
Inside, a welcoming open floor plan with high ceilings flows effortlessly from the spacious living room to the dining area and gourmet kitchen, creating an inviting space for gatherings. The kitchen shines with stainless steel appliances, custom cabinetry, and granite countertops, making it as functional as it is stylish. Each of the four sunlit bedrooms serves as a cozy retreat, featuring luxurious finishes that make every space feel special. The three impeccably designed bathrooms showcase high-end fixtures, adding a touch of elegance throughout.
With excellent rental projections, this property presents a fantastic investment opportunity in the booming vacation rental market. As part of the exclusive Villas of Frangista community, residents enjoy access to a private pool and deeded beach access, making it easy to relax and unwind just moments from home.
Don't miss out on this rare opportunity to own a piece of paradise in sought-after Miramar Beach!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017