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Destin 32541 Heritage Run
551 Sibert Avenue
$486,000
● House - Off Market

551 Sibert Avenue

Destin, FL 32541
bedrooms
3 Beds
bathrooms
2 Baths
$2,671
Est. Monthly
4.22%
Cap Rate

About This Property

100% Updated home Top to Bottom! Location! Location! Destin West 3 bed 2.5 bath 2 car Garage home. Easy Access to Public boat ramp and in a great school district. Completely updated home on quiet street in Destin.. You will amazed at the great space this home offers and Primary Bedroom downstairs .. House has new Paint in and out, Custom cabinets, Quartzite tops, new backsplash, stainless steel appliances, custom baths, new floors, no carpets downstairs or on stairs. New fans and lights, new interior doors, new custom deck $10k alone and new privacy fence and new sod yard (Zoysia) and sprinkler system. $14k. New textured ceilings., $112k spent on renovations to make like new.  Roof 2014, AC 2017, Water Heater 2024
Unit Size
-
Days on Market
55 days
Land Size
0.17 acres
Price per sqft
-
Property Type
House
Property Taxes
$285
HOA Dues
-
Year Built
1986

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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 #944995)

Price History

Date / Event Date Event Price
May 13, 2024 Sold
Premium
Sold
Mar 17, 2024 Listed by Bay Living Inc $485,900
Listed by Bay Living Inc
Feb 27, 2024 Sold
Premium
Sold
Dec 29, 2023 No longer available -
No longer available
Dec 28, 2023 Listed by Bay Living Inc $265,000
Listed by Bay Living Inc

Property Highlights

Air Conditioning
Garage

Building Info

Overview

    General

  • Year Built: 1986
  • Effective Year Built: 1986
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 9
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 3
  • Roof Shape Type: 9
  • Roof Cover Type: 21
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 440
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 126
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,570
  • Lot Size Frontage Feet: 720
  • Total Building Area: 1,910
  • Gross Building Area: 1,910
  • Building Area: 1,450
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,450
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HERITAGE RUN S/D
  • Land Acres: 0000000174
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: HERITAGE RUN S/D LOT 4 BLK A

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023306

Geography

  • Assessors Map Reference: 47
  • Parcel: 00-2S-22-1137-000A-0040
  • Block: A
  • Lot: 4
  • Municipality: DESTIN
  • Latitude: 30.408
  • Longitude: -86.4965

    Address

  • Full Address: 551 Sibert Ave
  • Address - House Number: 551
  • Address - Street Name: Sibert
  • Address - Suffix Type: Ave
  • State: FL
  • City Name: Destin
  • Carrier Code: C012
  • 4-Digit Zip Code: 1616
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 1,698
  • Tax Year: 2023
  • Tax Amount: $341,522
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.0802
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 94
  • Final Value: 261,058
  • High Value: 282,007
  • Low Value: 240,109

    Market Valuation

  • Market Total Value: $324,422
  • Market Land Value: $130,494
  • Market Improvement Value: $193,928

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $324,422
  • Assessed Land Value: $130,494
  • Assessed Improvements Value: $193,928

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jan 19, 2024
  • Current Sale Recording Date: Feb 27, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3673280
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 Heritage Run

Stats & Trends

Median Asking:

$439,000

Sale Price/ft²

$286

Above Asking

0.00%

Average Days on Market

104

Average Home Size

1912 ft²

Average Home Age

36 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

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ECAR

Listed by: Edward G Thornburg Jr, Bay Living Inc
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 944995
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 551 Sibert Avenue built and last sold?
The property at 551 Sibert Avenue was built in 1986 and last sold on Jan 19, 2024 for $273,500.
How much is this home worth?
The estimated value of the home located at 551 Sibert Avenue is $0.
What are some comparable homes to 551 Sibert Avenue?
There are currently no comparable homes to 551 Sibert Avenue.
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