438 CAPTAINS Circle
About This Property
The property's beautiful setting along a bayou leading to Choctawhatchee Bay... ...is enhanced by the entire footprint of the home and extensive terrace that is graded to provide protection from inclement weather and give better views of the surrounding nature preserve. Built like a fortress, the home consists of poured concrete reinforced with steel, finished with stucco, and Pella exterior doors and windows. The large circular driveway with ample parking leads to the front porch and two-story portico with limestone arch. From the front foyer, the natural flow works well for everyday living or entertaining. The formal living room features a high coffered ceiling, elegant gas fireplace, and fabulous views to the back terrace and bayou. The adjoining formal dining room is linked to the kitchen by a butler's area and bar. The unique aged-look of the walls comes from canvas being custom painted in an artisan's studio and then affixed. Main area floors are 3/4" French Carton and doors are solid mahogany. The contemporary kitchen features limestone and stainless countertops, beautifully designed honeycomb onyx backsplash, and top-of-the-line appliances including a Gaggenau 6-burner gas stove, hidden microwave, large Subzero, new icemaker, and 2 new dishwashers.
For casual gatherings, there's a spacious family room off the kitchen which connects to a fabulous outdoor kitchen via sensory-activated sliding glass doors. Recently upgraded, the summer kitchen features a gorgeous copper hood over backsplash with a waterfall and LED lighting, honeycomb onyx counters, and new stainless fridge, icemaker, and grill. Outdoor cooking is only one reason the highlight of the home may be the extensive back patio and terrace. The pool/spa is another high-tech wonder. Up to 14 people can enjoy soaking in the hot tub in cool weather, or cool it down for a refreshing dip on hot days. A push of a button turns it into waterfall or fountain and adds colored lighting. With plenty of room for sun and shade, elegant nighttime parties, or a relaxed family reunion, you'll enjoy outdoor living year-round.
Occupying its own wing, the first floor master suite is a true oasis. The huge bedroom offers waterfront views, a custom-painted curved trey ceiling, electric blinds, and disappearing television. The rest of the suite includes three fabulous walk-in closets, a jetted tub, dual sinks, and large multi-head shower. A guest room and climate-controlled storage area are also found on the ground level, while three additional bedrooms, two baths, and a media room/guest lounge area are located upstairs.
The terrace overlooks the back lawn, which slopes down to 127' of waterfront on a deepwater bayou. Enjoy the incredible setting surrounded by a nature preserve and with hardly any boat traffic, yet within just few minutes of all the active water sports of Choctawhatchee Bay and the Gulf of Mexico! The fully equipped dock will house a 30' boat and lift up to 10,000 lbs. Along with space for up to 3 cars, the garage has a separate golf cart door. Pets even have their own entry doors, covered porch, and gated side yard. Real copper downspouts and gutters prove that no corners were cut on construction - and it's all protected by security cameras filming 24/7! Other conveniences include keyless entry, 2 new HVAC units, a new generator, central vac, extra W/D hookup, and LED low voltage lighting throughout the home.
The fabulous location gives you the option of intense privacy and quiet or abundant activity and socializing, as you see fit. Regatta Bay's amenities, including a large swimming pool, tennis, playground, clubhouse, golfing, and manned entry are nearby, and the central Destin location is perfect for enjoying the best restaurants, shopping, and activities of the Emerald Coast! Chandelier in foyer does not convey. Seller may entertain a partial trade-in from a Buyer for a lot or condominium valued at $750,000.00 or less. Buyer must verify all information and specifications.
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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 14, 2016 | Sold | ||
| Sold | |||
| Nov 16, 2015 | Listed by Somers & Company | $1,495,000 | |
| Listed by Somers & Company | |||
| Jul 30, 2013 | Sold | ||
| Sold | |||
| May 28, 2012 | Listed by Coldwell Banker Realty | $1,000,000 | |
| Listed by Coldwell Banker Realty | |||
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BANK APPROVED PRICE!!! BUYER COULD NOT CLOSE!!! DON'T DELAY...THIS ONE WON'T LAST LONG!!! SHORT SALE, SUBJECT TO LENDER APPROVAL! Stunning bayou front concrete home featuring old world architectural appointments, superb construction with quality materials and workmanship. This six bedroom, four and one half bath beauty is truly a work of art and must be seen to be appreciated. Carefully designed with every detail considered using the very best of finishes including hand carved cypress doors, soaring ceilings, old world Fresco interior walls, limestone floors and showers as well as exterior window surrounds, entry surround and balcony balustrades. Formal living and dining rooms as well as a handsome study, complete with custom built-ins are just off the foyer. Any cook will love the gourmet kitchen with European Rosewood cabinetry, limestone counters, Miele oven, Gaggenau gas cook top, 2 fisher Paykel dishwasher drawers, SubZero stainless refrigerator. The kitchen is open to the leisure room. From the leisure room automatic Pella sliding glass doors open onto the lanai for easy entertaining. First level master suite is spacious and has two walk-in closets and a luxurious bath. Four additional bedrooms are on the second level, which also has a large loft area, perfect as an entertainment/media area. The large limestone lanai features custom decorative tile work, and oversized black tiled negative edge spa, imported statuary and finials. Fiberglass dock is 108 feet long and has watercraft lift and is boat lift ready. Many hurricane and storm safety features including concrete construction, heavy wind load Pella windows, reinforced garage doors, tile roof. Must be seen to truly appreciate! As always, all dimensions should be verified by buyer.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017