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4579 Luke Avenue
About This Property
The centerpiece is a resort style outdoor space, anchored by a centrally located pool and spa, with expansive decking and water features that create a natural gathering area. The thoughtful layout provides ample space for group stays, extended family living, or vacation renters seeking togetherness without sacrificing privacy. Set on an oversized lot near the upcoming Tarpon Beach Gulf Front Park, the property's location adds long term appeal in one of Destin's most desirable coastal neighborhoods. With no HOA, no CBRA zone designation, and situated in Flood Zone X, it offers added flexibility and peace of mind.
Recent upgrades include a new metal roof, Hardie board siding, updated HVAC systems, and tankless water heaters, building a solid foundation for future personalization. Professional vacation rental management is already in place, with bookings secured through 2026, providing immediate income potential.
Centrally located in Crystal Beach, the property is just minutes from world class beaches, golf courses, shopping, dining, and entertainment. An exceptional opportunity for investors and homeowners alike. Don't miss your chance to own a piece of paradise.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017