490 Red Barn Road
About This Property
YOU MUST SEE! Thoughtfully composed as a private compound, the estate includes a main residence RENOVATED 2026 and complemented by a separate pool house, creating an ideal setting for hosting family and friends. The outdoor experience is equally refined, anchored by a resort-style pool, fitness/art studio, new grilling and fire pit area with expansive grounds that invite both relaxation and entertaining on a grand scale. Additional structures enhance both lifestyle and functionality, including a detached fitness/art studio, utility shed with tractor and riding lawn mowers that are like-new for maintaining the property with ease. With no HOA, the estate offers complete freedom--allowing for a true sense of ownership without restriction, whether for recreation, expansion, or long-term investment. The property is also in desirable Flood Zone X and does not require flood insurance.
Set within the natural beauty of Walton County north of the bay, this property delivers a sense of space and tranquility that is increasingly rare, while remaining just minutes from Freeport's conveniences and just 15 minutes from the world-renowned beaches of Scenic Highway 30A. Boaters can enjoy paradise with peace of mind at the magnificent new Shipyard Marina, NW Florida's most accessible, first class dry dock storage marina just a few miles away! Shipyard will house boats up to a 40' long securely, and the helpful staff will have them fueled and ready in deepwater for expeditions on the Bay, Intercoastal, or the Gulf. Alternatively, there are 3 nearby boat ramps to launch into the Bay if you want keep your boat on the property where there is plenty of room. So many options to live the American Dream!
This is an epic opportunity to secure a unique Bayview estate with acreage, water views, and enduring appeal--where lifestyle, privacy, and setting come together in a way that cannot be replicated.
Buyer to independently verify all dimensions and information.
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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