$490,000
●
Condo -
Off Market
548 Sandy Cay Drive #UNIT207
Miramar Beach, FL 32550
2 Beds
2 Baths
$2,707
Est. Monthly
2.82%
Cap Rate
About This Property
Welcome to the best little complex in Miramar Beach! This stunning
unit features breathtaking pool views right across from the Gulf,
offering a picturesque backdrop for your coastal lifestyle. Fully
furnished and tastefully decorated, it's ready for your rental
income, with a snowbird already in place to maximize your
investment. The open layout enhances the living large space. Enjoy
the Resort Like Pool area and all the amenities this great complex
has to offer, including easy access to beautiful beaches and local
attractions. Beach Resort has completed all of its SIRS inspections
on all structural items and the repairs were made. Since this
was all done and the special assessments paid, there will be
no assessments in the foreseeable future
Unit Size
-
Days on Market
119 days
Land Size
-
Price per sqft
-
Property Type
Condo
Property Taxes
$276
HOA Dues
-
Year Built
-
Payment Calculator
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Cap Rate Calculator
Purchase Price
Monthly Property Taxes
Monthly Rental Income
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Income Per Year
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Operating Profit Per Year
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: 11 months ago (ECAR #983151)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 12, 2025 | Sold | ||
| Sold | |||
| Nov 12, 2025 | In contract | - | |
| In contract | |||
| Nov 8, 2025 | Price Decreased |
$495,000
↓ $25K
(4.8%) | |
| Price Decreased | |||
| Aug 14, 2025 | Listed by Pinnacle Realty Advisors | $520,000 | |
| Listed by Pinnacle Realty Advisors | |||
Property Highlights
Parking Available
Garage
Elevator
Air Conditioning
Interior Details
Full Bathrooms: 2
Interior Features: Breakfast Bar, Elevator, Pantry, Ceiling Crwn Molding, Ceiling Raised, Lock Out, Washer/Dryer Hookup
Appliances: Dishwasher, Disposal, Dryer, Microwave, Washer, Oven Self Cleaning, Refrigerator W/IceMk, Smooth Stovetop Rnge, Water Heater - Elect
Flooring Type: Floor Tile, Floor Vinyl, Floor WW Carpet
Rooms: 6
Exterior Details
Has Property Attached
Security Features: Fire Alarm/Sprinkler
Property Condition: Renovated, Construction Complete
Architectural Style: N/A
Year Built: 2006
Building Area Total: 1046
Window Features: Window Treatment All
Construction Materials: Stucco
Pool Features: Pool Type
Pool is Private
Lot Size Units: Acres
Financial Details
Tax Annual Amount: $3,311
Utilities Details
Cooling Type: Ceiling Fan(s), Central Air
Heating Type: Central
Sewer : Public Sewer, Community Sewer
Location Details
HOA/Condo/Coop Fee Includes: Sewer, Water, Cable TV, Trash, Accounting, Ground Keeping, Internet Service, Management, Master Association, Recreational Faclty
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
08/14/2025
|
2 Bed
|
2 Bath
|
-
|
$520,000
2 Bed
2 Bath
|
$490,000
-5.77%
12/12/2025
|
Eric Wilhelm
Pinnacle Realty Advisors
| |
|
02/27/2025
|
2 Bed
|
2 Bath
|
-
|
$499,900
2 Bed
2 Bath
|
$495,000
-0.98%
12/15/2025
|
The Steely Group
Bastion Realty LLC
| |
|
02/03/2024
|
2 Bed
|
2 Bath
|
1046 ft²
|
$585,000
2 Bed
2 Bath
1046 ft²
|
$580,000
-0.85%
03/04/2024
|
Eric Wilhelm
Pinnacle Realty Advisors
| |
|
10/28/2023
|
1 Bed
|
2 Bath
|
1046 ft²
|
$555,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
Eric C Wilhelm
Crye-Leike Coastal Realty
| |
|
10/27/2023
|
2 Bed
|
2 Bath
|
1046 ft²
|
$529,900
2 Bed
2 Bath
1046 ft²
|
$490,000
-7.53%
02/12/2025
|
Eric Wilhelm
Pinnacle Realty Advisors
| |
|
10/12/2023
|
1 Bed
|
2 Bath
|
1046 ft²
|
$470,000
1 Bed
2 Bath
1046 ft²
|
$455,000
-3.19%
08/09/2024
|
The Steely Group
Bastion Realty LLC
| |
|
11/23/2022
|
1 Bed
|
2 Bath
|
1046 ft²
|
$534,900
1 Bed
2 Bath
1046 ft²
|
-
-
|
Staggs Group
Vacasa Real Estate - High Pointe
| |
|
10/21/2022
|
1 Bed
|
2 Bath
|
1046 ft²
|
$549,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
James P Duren
Newman Dailey Resort Properties
| |
|
09/23/2022
|
1 Bed
|
2 Bath
|
1046 ft²
|
$530,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
At The Beach Team
Keller Williams Realty Destin
| |
|
06/03/2022
|
1 Bed
|
2 Bath
|
1046 ft²
|
$475,000
1 Bed
2 Bath
1046 ft²
|
$505,000
+6.32%
07/14/2022
|
Dale Stackable
Berkshire Hathaway Home Services PenFed Realty
| |
|
06/03/2021
|
1 Bed
|
2 Bath
|
1046 ft²
|
$449,000
1 Bed
2 Bath
1046 ft²
|
$435,000
-3.12%
01/13/2022
|
James P Duren
Newman Dailey Resort Properties
| |
|
09/09/2020
|
1 Bed
|
2 Bath
|
1046 ft²
|
$350,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
| |
|
06/20/2020
|
1 Bed
|
2 Bath
|
1046 ft²
|
$320,000
1 Bed
2 Bath
1046 ft²
|
$310,000
-3.13%
02/04/2021
|
Kevin M Kramer
| |
|
01/05/2020
|
1 Bed
|
2 Bath
|
1046 ft²
|
$332,000
1 Bed
2 Bath
1046 ft²
|
$315,000
-5.12%
07/30/2020
|
Claire E O'Connell
| |
|
01/03/2020
| |
1 Bed
|
2 Bath
|
1046 ft²
|
$332,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
|
|
11/25/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$335,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
| |
|
10/21/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$372,000
1 Bed
2 Bath
1046 ft²
|
$360,000
-3.23%
01/02/2020
|
Diane Fiore
Island Home Properties Co
| |
|
08/11/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$350,000
1 Bed
2 Bath
1046 ft²
|
$340,000
-2.86%
02/26/2020
|
Bryan Whitehead
| |
|
08/07/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$312,500
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
| |
|
07/15/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$324,900
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
| |
|
02/28/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$335,000
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
| |
|
02/28/2019
|
1 Bed
|
2 Bath
|
1046 ft²
|
$365,000
1 Bed
2 Bath
1046 ft²
|
$365,000
05/15/2019
|
James C Watts
| |
|
08/23/2018
|
1 Bed
|
2 Bath
|
1046 ft²
|
-
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
| |
|
06/07/2018
| |
1 Bed
|
2 Bath
|
1046 ft²
|
-
1 Bed
2 Bath
1046 ft²
|
-
-
|
-
|
|
09/11/2016
|
1 Bed
|
2 Bath
|
1046 ft²
|
$285,000
1 Bed
2 Bath
1046 ft²
|
$275,000
-3.51%
02/28/2017
|
Diane Fiore
Island Home Properties Co
| |
|
08/29/2016
|
1 Bed
|
2 Bath
|
1046 ft²
|
$275,000
1 Bed
2 Bath
1046 ft²
|
$260,000
-5.45%
06/12/2017
|
Joe Taylor III
Ocean Reef Realty Inc
| |
|
06/01/2016
|
1 Bed
|
2 Bath
|
1046 ft²
|
$285,000
1 Bed
2 Bath
1046 ft²
|
$275,000
-3.51%
04/11/2017
|
Renee Clayton
World Impact Real Estate
| |
|
05/13/2016
|
1 Bed
|
2 Bath
|
1046 ft²
|
$280,000
1 Bed
2 Bath
1046 ft²
|
$280,000
06/30/2016
|
JOHN HOLAHAN
Better Homes & Gardens Real Estate Emerald Coast
| |
|
02/23/2016
|
1 Bed
|
2 Bath
|
1046 ft²
|
$275,000
1 Bed
2 Bath
1046 ft²
|
$265,000
-3.64%
03/02/2016
|
Howard Dolgoff
Emerald Coast Properties Inc
| |
|
01/30/2016
|
1 Bed
|
2 Bath
|
1046 ft²
|
$269,000
1 Bed
2 Bath
1046 ft²
|
$261,000
-2.97%
09/02/2016
|
Diane Fiore
Island Home Properties Co
| |
|
09/21/2015
|
1 Bed
|
2 Bath
|
1046 ft²
|
$259,000
1 Bed
2 Bath
1046 ft²
|
$250,000
-3.47%
05/20/2016
|
Diane Fiore
Island Home Properties Co
| |
|
05/11/2015
|
1 Bed
|
2 Bath
|
1046 ft²
|
$252,000
1 Bed
2 Bath
1046 ft²
|
$242,000
-3.97%
10/09/2015
|
Diane Fiore
Island Home Properties Co
| |
|
01/13/2015
|
1 Bed
|
2 Bath
|
1046 ft²
|
$250,000
1 Bed
2 Bath
1046 ft²
|
$242,000
-3.20%
09/11/2015
|
JOHN HOLAHAN
Better Homes & Gardens Real Estate Emerald Coast
| |
|
10/21/2014
|
1 Bed
|
2 Bath
|
1046 ft²
|
$282,900
1 Bed
2 Bath
1046 ft²
|
$270,000
-4.56%
12/22/2014
|
Diane Fiore
Island Home Properties Co
| |
|
08/20/2014
|
1 Bed
|
2 Bath
|
1046 ft²
|
$249,900
1 Bed
2 Bath
1046 ft²
|
$240,000
-3.96%
12/01/2014
|
Fredericka Brown
Realjoy Properties
| |
|
07/12/2013
|
1 Bed
|
2 Bath
|
1046 ft²
|
$269,000
1 Bed
2 Bath
1046 ft²
|
$250,000
-7.06%
08/23/2013
|
Wanda Greer
Destin Beach Realty LLC
| |
|
03/01/2013
|
1 Bed
|
2 Bath
|
1046 ft²
|
$224,500
1 Bed
2 Bath
1046 ft²
|
$218,000
-2.90%
03/29/2013
|
James Sharpe
HCB Advisory Group LLC
| |
|
01/09/2013
|
1 Bed
|
2 Bath
|
1046 ft²
|
$234,500
1 Bed
2 Bath
1046 ft²
|
$218,000
-7.04%
02/14/2013
|
James Sharpe
HCB Advisory Group LLC
| |
|
10/10/2012
|
1 Bed
|
2 Bath
|
1046 ft²
|
$229,000
1 Bed
2 Bath
1046 ft²
|
$221,250
-3.38%
02/28/2013
|
Diane Fiore
Island Home Properties Co
| |
|
08/24/2012
|
1 Bed
|
2 Bath
|
1046 ft²
|
$209,000
1 Bed
2 Bath
1046 ft²
|
$190,895
-8.66%
06/26/2013
|
Colin Kirkwood
Newman Dailey Resort Properties
| |
|
08/14/2012
|
1 Bed
|
2 Bath
|
1046 ft²
|
$218,000
1 Bed
2 Bath
1046 ft²
|
$218,000
12/28/2012
|
Ann Marie James
Silver Real Estate
| |
|
05/18/2012
|
2 Bed
|
3 Bath
|
1762 ft²
|
$399,999
2 Bed
3 Bath
1762 ft²
|
$360,000
-10.00%
09/05/2012
|
Diane Fiore
Island Home Properties Co
| |
|
04/07/2012
|
1 Bed
|
2 Bath
|
1046 ft²
|
$234,900
1 Bed
2 Bath
1046 ft²
|
$210,000
-10.60%
08/30/2012
|
Diane Fiore
Island Home Properties Co
| |
|
07/11/2011
|
1 Bed
|
2 Bath
|
1046 ft²
|
$199,900
1 Bed
2 Bath
1046 ft²
|
$188,750
-5.58%
01/26/2012
|
STEVEN SCHMIDT
ADAMS HOMES REALTY INC
| |
|
06/14/2011
|
1 Bed
|
2 Bath
|
1046 ft²
|
$249,000
1 Bed
2 Bath
1046 ft²
|
$230,000
-7.63%
02/27/2012
|
Diane Fiore
Island Home Properties Co
| |
|
03/06/2011
|
1 Bed
|
2 Bath
|
1046 ft²
|
$212,500
1 Bed
2 Bath
1046 ft²
|
$196,000
-7.76%
04/13/2012
|
Diane Fiore
Island Home Properties Co
|
Building Info
548 Sandy Cay Drive
548 Sandy Cay Drive, Miramar Beach, FL 32550
- 3 Units for Sale
About Miramar Beach
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Listed by: Eric C Wilhelm, Pinnacle Realty Advisors
Last Updated: 11 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 983151
Last Updated: 11 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 983151
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