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47 Tranquility Lane
About This Property
Located in sought after Destiny East, 47 Tranquility Lane features multiple levels of living space, spacious bedrooms, generous gathering areas, balconies, a private pool, and plenty of room to settle in and enjoy the stay.
The home has been used as an established vacation rental and offers a strong foundation for the next owner to make it their own. The property is being sold as is, with known maintenance items reflected in the opportunity and giving the buyer flexibility to update and improve the home over time.
Destiny East remains one of Destin's most desirable gated communities, offering highly sought after amenities and convenient access to the beach, dining, shopping, and everything that makes Destin such a popular place to own.
Whether the goal is a second home, vacation rental, or a property to improve and reposition, Sweet Caroline offers space, location, rental history, and long term potential in one of Destin's most established communities.
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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 |
|---|---|---|---|
| Sep 19, 2026 | In contract | - | |
| In contract | |||
| Sep 8, 2026 | Listed by Equity & Trust Realty Inc | $1,925,000 | |
| Listed by Equity & Trust Realty Inc | |||
| Dec 16, 2025 | In contract | - | |
| In contract | |||
| Nov 18, 2025 | Price Decreased |
$2,395,000
↓ $144K
(5.7%) | |
| Price Decreased | |||
| Oct 6, 2025 | Price Decreased |
$2,539,000
↓ $6K
(0.2%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017