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Destin 32541 Crystal Beach
4569 Luke Avenue
$1,888,988*
● House - Off Market

4569 Luke Avenue

Destin, FL 32541
bedrooms
5 Beds
bathrooms
4 Baths
square feet
3,260 Ft²
$1,611,000 - $1,969,000
Reference Base Price*
5.53%
Since Dec 1, 2022
National-US
Primary Model

About This Property

Now is the time! Buyers financing fell through! Seeking Short Term Rental Investment? Looking for an excellent 1031 Tax Exchange-- This is YOUR house! 2022 rent rolls are strong,>195k so far!The Dream Weaver is the perfect place for an amazing Destin vacation for groups up to 16 guests! With a split layout of 2 homes, a breathtaking pool & over-spill spa, plenty of outdoor space to kick back & relax.  The front home ( carriage house)_offers ground level entry with keypad check-in into the two bedroom | 1 Bath, with full kitchen. Main residence offers 3 bedrooms, 3 baths, with an incredible large upstairs game room with walk out porch. Residence is turn key and income producing. Over 230k In rental revenue for 2021

The manager has listed the unit size as 3260 square feet.
Unit Size
3,260 Ft²
Days on Market
-
Land Size
0.18 acres
Price per sqft
$549
Property Type
House
Property Taxes
$640
HOA Dues
-
Year Built
1959

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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.

Price History

Date / Event Date Event Price
Jan 3, 2023 Sold
Premium
Sold
Nov 29, 2022 No longer available -
No longer available
Oct 27, 2022 Relisted $1,790,000
Relisted
Sep 20, 2022 No longer available -
No longer available
Sep 16, 2022 Price Decreased $1,790,000
↓ $160K (8.2%)
Price Decreased
Show More

Property Highlights

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 2000
  • Building Count: 2
  • Bedroom Count: 5
  • Bathroom Count: 4
  • Full Bathrooms: 4
  • Partial Bathrooms: 4
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 5
  • Floor Count: 100
  • Floor Cover: 14
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 36
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 7,699
  • Lot Size Frontage Feet: 500
  • Total Building Area: 3,910
  • Gross Building Area: 3,910
  • Building Area: 3,260
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 3,260
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CRYSTAL BEACH
  • Land Acres: 0000000177
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: CRYSTAL BEACH LOT 5 BLK 31

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023308

Geography

  • Assessors Map Reference: 47
  • Parcel: 00-2S-22-0580-0031-0050
  • Block: 31
  • Lot: 5
  • Municipality: DESTIN
  • Latitude: 30.3853
  • Longitude: -86.417

    Address

  • Full Address: 4569 Luke Ave
  • Address - House Number: 4569
  • Address - Street Name: Luke
  • Address - Suffix Type: Ave
  • State: FL
  • City Name: Destin
  • Carrier Code: C020
  • 4-Digit Zip Code: 3612
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 3,466
  • Tax Year: 2023
  • Tax Amount: $1,609,115
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.1994
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 73
  • Final Value: 1,409,196
  • High Value: 1,690,260
  • Low Value: 1,128,132

    Market Valuation

  • Market Total Value: $1,346,968
  • Market Land Value: $411,058
  • Market Improvement Value: $935,910

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,346,968
  • Assessed Land Value: $411,058
  • Assessed Improvements Value: $935,910

    Sales

  • Current Sale Contract Date: Dec 30, 2022
  • Current Sale Recording Date: Jan 03, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3598915
  • Previous Sale Recording Date: Apr 01, 2020
  • Previous Sale Contract Date: Mar 31, 2020
  • Previous Sale Amount: $758,500
  • Previous Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: ADJ
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 Crystal Beach

Stats & Trends

Median Asking:

$1,350,000

Sale Price/ft²

$645

Below Asking

0.02%

Average Days on Market

127

Average Home Size

2426 ft²

Average Home Age

27.9 years

Currently For Sale

55 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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Frequently Asked Questions

When was property at 4569 Luke Avenue built and last sold?
The property at 4569 Luke Avenue was built in 1959 and last sold on Dec 30, 2022 for $1,725,000.
How much is this home worth?
The estimated value of the home located at 4569 Luke Avenue is $1,775,195.
What are some comparable homes to 4569 Luke Avenue?
There are currently no comparable homes to 4569 Luke Avenue.
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