602 Tropical Way
About This Property
Every major upgrade has already been done for you. Enjoy peace of mind with a BRAND NEW ROOF (March 2026) and a full-scale 2021 renovation featuring a gorgeous modern kitchen, all-new flooring, fresh drywall, and a new HVAC system. It's truly turn-key and move-in ready- just bring your furniture, enjoy it fully furnished as is, and start living. Step outside and the possibilities explode. With NO HOA, you've got the freedom to park your boat, RV, or trailer, add a pool, or design the backyard oasis you've always wanted--all on your oversized lot.
And the location? Hard to beat. Just one mile from the 331 Bridge, you're minutes from Choctawhatchee Bay and the iconic white sand beaches of South Walton. Whether you're commuting, investing, or living the coastal lifestyle full-time, this home delivers.
Rare. Upgraded. Unrestricted. Schedule your showing today before someone else grabs it.
Payment Calculator
Your Estimated Monthly Payment
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 |
|---|---|---|---|
| Jul 21, 2026 | Sold | ||
| Sold | |||
| Jun 24, 2026 | In contract | - | |
| In contract | |||
| Jun 11, 2026 | Price Decreased |
$319,000
↓ $1K
(0.3%) | |
| Price Decreased | |||
| Jun 2, 2026 | Price Decreased |
$320,000
↓ $5K
(1.5%) | |
| Price Decreased | |||
| May 15, 2026 | Price Decreased |
$325,000
↓ $14K
(4.1%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017