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Crestview 32539 Steeplechase
505 Risen Star Drive
$250,000
● House - Off Market

505 Risen Star Drive

Crestview, FL 32539
bedrooms
4 Beds
bathrooms
2 Baths
$1,354
Est. Monthly
9.97%
Cap Rate

About This Property

At this price and a little work this could be the perfect opportunity to get into 4 bedrooms under $250k! This charming 4-bedroom, 2-bathroom home nestled in the desirable Steeplechase neighborhood of Crestview. With 1,560 square feet of well-designed living space, this home offers a perfect blend of comfort and functionality.

Step into a bright, inviting kitchen featuring crisp white cabinetry and appliances, ample counter space, and a convenient pantry closet, ideal for all your storage needs. The adjoining dining and living areas flow seamlessly, creating an open atmosphere perfect for entertaining.
Unit Size
-
Days on Market
73 days
Land Size
0.22 acres
Price per sqft
-
Property Type
House
Property Taxes
$131
HOA Dues
-
Year Built
1997

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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.

Last updated: 2 years ago (ECAR #970152)

Price History

Date / Event Date Event Price
May 16, 2025 Sold
Premium
Sold
Mar 22, 2025 In contract -
In contract
Mar 4, 2025 Listed by Salt & Light Realty $249,000
Listed by Salt & Light Realty
Jun 6, 2005 Sold
Premium
Sold

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1997
  • Effective Year Built: 1997
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 400
  • Parking Space Count: 0
  • Patio Type: 5
  • Porch Type: 126
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,374
  • Total Building Area: 2,306
  • Gross Building Area: 2,306
  • Building Area: 1,726
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,726
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: STEEPLECHASE
  • Land Acres: 0000000215
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: STEEPLECHASE PH II LOT 3 BLK C

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 020702

Geography

  • Assessors Map Reference: 15C
  • Subdivision Phase Number: 2
  • Parcel: 28-3N-23-2351-000C-0030
  • Block: C
  • Lot: 3
  • Meridian: SEC 28 TWN 03N RNG 23W
  • Municipality: CRESTVIEW
  • Latitude: 30.7316
  • Longitude: -86.5546

    Address

  • Full Address: 505 Risen Star Dr
  • Address - House Number: 505
  • Address - Street Name: Risen Star
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Crestview
  • Carrier Code: R023
  • 4-Digit Zip Code: 6071
  • Zip Code: 32539

Valuation

    Tax

  • Total Area: 1,965
  • Tax Year: 2023
  • Tax Amount: $157,012
  • Tax Rate Code Area: 003

    Appraisal Valuation

  • Standard Deviation: 0.2107
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 71
  • Final Value: 304,313
  • High Value: 368,448
  • Low Value: 240,178

    Market Valuation

  • Market Total Value: $233,026
  • Market Land Value: $32,000
  • Market Improvement Value: $201,026

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $138,590

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jun 06, 2005
  • Current Sale Recording Date: Jun 06, 2005
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2229661
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 Steeplechase

Stats & Trends

Median Asking:

$285,000

Sale Price/ft²

$154

Below Asking

0.03%

Average Days on Market

79

Average Home Size

2229 ft²

Average Home Age

28 years

Currently For Sale

2 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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ECAR

Listed by: John R Sallman, Salt & Light Realty
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 970152
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Frequently Asked Questions

When was property at 505 Risen Star Drive built and last sold?
The property at 505 Risen Star Drive was built in 1997 and last sold on Jun 6, 2005 for $168,000.
How much is this home worth?
The estimated value of the home located at 505 Risen Star Drive is $251,490.
What are some comparable homes to 505 Risen Star Drive?
There are currently no comparable homes to 505 Risen Star Drive.
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