85
Map
48 Terra Cotta Way
About This Property
Inside, you'll find a spacious layout designed for gathering and relaxing, with multiple living spaces ideal for family and friends. The primary suite offers a private retreat complete with a cozy gas fireplace and access to a balcony, the perfect spot to enjoy morning coffee or evening breezes. The third-floor bedroom doubles as a fun entertainment space, featuring plenty of room for guests and a selection of games that make it a favorite hangout for kids and adults alike. Front and back balconies extend the living space outdoors, giving you multiple vantage points to soak up the coastal air.
As a resident of Terra Cotta Terrace, you'll have access to wonderful community amenities including a private deeded beach access, swimming pool, tennis courts, and sand volleyball. The neighborhood is golf cart-friendly, making beach runs and exploring the area a breeze.
The location is unbeatable just a short stroll or quick ride to the Gulf, and minutes from some of Destin's best dining, shopping, and entertainment. From fresh seafood at beachfront restaurants to family fun at Destin Commons, Henderson Beach State Park, and world-class golf courses, everything you love about the Emerald Coast is right at your fingertips.
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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 2, 2026 | Price Decreased |
$1,319,000
↓ $30K
(2.2%) | |
| Price Decreased | |||
| Sep 19, 2026 | Price Decreased |
$1,349,000
↓ $30K
(2.2%) | |
| Price Decreased | |||
| Sep 1, 2026 | Listed by Destin Legacy Real Estate Llc | $1,379,000 | |
| Listed by Destin Legacy Real Estate Llc | |||
| Jul 18, 2026 | Price Decreased |
$1,429,000
↓ $10K
(0.7%) | |
| Price Decreased | |||
| Jun 13, 2026 | Price Decreased |
$1,439,000
↓ $5K
(0.4%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017