Lot 6 Pisces Drive
About This Property
A major advantage for future development, wetland mitigation was completed in November 2022, helping save both time and expense. Surveys are available, and house plans are also available for purchase, giving buyers a head start on bringing their dream home to life.
Bay Pine Shores is a quiet, HOA-restricted neighborhood with low annual dues of just $125 per year and no required build-out timeframe, allowing you the freedom to build when the timing is right. Conveniently located just off Chat Holly Road and less than a mile from Highway 331, you'll enjoy quick access to the beaches of South Walton, 30A, shopping, dining, boating, and everything that makes this area so desirable.
With limited vacant land remaining in Santa Rosa Beach, opportunities like this are becoming increasingly difficult to find. For buyers looking for additional space and privacy, the adjacent Lot 7 (MLS 1004867) is also available for purchase, offering the potential to own approximately 1.26 acres combined.
Whether you're ready to build now or planning for the future, this homesite offers an exceptional opportunity in one of South Walton's fastest-growing and most desirable locations.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 25, 2026 | Listed by Keller Williams Realty SRB | $179,000 | |
| Listed by Keller Williams Realty SRB | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017