83
Map
609 Calhoun Avenue
About This Property
Waterfront elegance defines this fully renovated bayfront estate, tucked behind a private gated entrance along nearly an acre of Choctawhatchee Bay frontage. Mature trees frame the property, creating a secluded sanctuary just minutes from Destin's beaches, dining, and entertainment. A private dock and expansive two-level deck extend the living space toward the water, framing sweeping bay views and vivid sunsets. Boating to Crab Island, waterfront dining at Destin Harbor, and fishing from a private dock become part of everyday life. A detached three-car garage offers space for vehicles, golf carts, and water toys, while the absence of an HOA ensures complete freedom to enjoy this rare slice of the Emerald Coast.
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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 |
|---|---|---|---|
| Sep 23, 2026 | Price Decreased |
$3,740,000
↓ $50K
(1.3%) | |
| Price Decreased | |||
| Sep 14, 2026 | Listed by BASTION REALTY LLC | $3,790,000 | |
| Listed by BASTION REALTY LLC | |||
| |||
|
Auction Property. AUCTION: Bidder registration deadline: 30th September. Starting bids expected between $1.5M-$2.75M Waterfront elegance defines this fully renovated bayfront estate, tucked behind a private gated entrance along nearly an acre of Choctawhatchee Bay frontage. Mature trees frame the property, creating a secluded sanctuary just minutes from Destin's beaches, dining, and entertainment. A private dock and expansive two-level deck extend the living space toward the water, framing sweeping bay views and vivid sunsets. Boating to Crab Island, waterfront dining at Destin Harbor, and fishing from a private dock become part of everyday life. A detached three-car garage offers space for vehicles, golf carts, and water toys, while the absence of an HOA ensures complete freedom to enjoy this rare slice of the Emerald Coast.
| |||
| Aug 25, 2026 | Price Decreased |
$3,790,000
↓ $210K
(5.3%) | |
| Price Decreased | |||
| Aug 23, 2026 | Price Increased |
$4,000,000
↑ $210K
(5.5%) | |
| Price Increased | |||
| Jun 3, 2026 | Listed by Bastion Realty LLC | $3,790,000 | |
| Listed by Bastion Realty LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017