587 Patina Boulevard
About This Property
Positioned directly across from the resort-style community pool, residents and guests enjoy quick access to plentiful seating areas surrounded by native coastal landscaping.
Magnolia Cottages provides a deeded beach access, green space and a calm, natural setting. Ideally located near Waterhouse Provisions & Bottle Shop, Rosemary Beach, Alys Beach, and just 1 mile from The Big Chill, placing guests close to popular 30A attractions while still offering a quiet retreat.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jan 9, 2026 | Sold | ||
| Sold | |||
| Dec 31, 2025 | In contract | - | |
| In contract | |||
| Dec 5, 2025 | Listed by The Premier Property Group Seacrest Office | $1,565,000 | |
| Listed by The Premier Property Group Seacrest Office | |||
| Apr 14, 2021 | Sold | ||
| Sold | |||
| Feb 24, 2021 | Listed by The Premier Property Group Seacrest Office | $1,299,000 | |
| Listed by The Premier Property Group Seacrest Office | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017