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Okaloosa 32578 Caribbean Village East
612 Nassau Drive
$438,000
● House - Off Market

612 Nassau Drive

Niceville, FL 32578
bedrooms
4 Beds
bathrooms
2 Baths
$2,371
Est. Monthly
5.22%
Cap Rate

About This Property

Come see this one-of-a-kind floor plan in Bluewater Bay with an oversized rear-entry garage for added privacy & convenience. Recent updates include a newer roof, windows, A/C, water heater, & irrigation pump, offering peace of mind for years to come.  Spacious living area with wood burning fireplace, dining area, kitchen with eat-in area & laundry closet.  Florida room to to enjoy the sunlight.  Split bedroom plan with 3 bedrooms & bath, master suite with double vanities.  Hurricane shutters for protection. Backyard is perfect for kids play, grilling or relaxing under mature trees. Azaleas surround the home and camilla bushes, hydrangeas and lilies are in bloom during the Spring/Summer. Ideally located near top-rated schools, parks, and bases.  Offered as-is
Unit Size
-
Days on Market
113 days
Land Size
0.27 acres
Price per sqft
-
Property Type
House
Property Taxes
$166
HOA Dues
-
Year Built
1985

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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 #980021)

Price History

Date / Event Date Event Price
Oct 22, 2025 Sold
Premium
Sold
Sep 23, 2025 In contract -
In contract
Sep 11, 2025 Price Decreased $449,000
↓ $10K (2.2%)
Price Decreased
Aug 15, 2025 Price Decreased $459,111
↓ $10K (2.1%)
Price Decreased
Jul 26, 2025 Price Decreased $469,111
↓ $5K (1%)
Price Decreased
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1985
  • Effective Year Built: 1985
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 1
  • Garage Type: 1
  • Garage Square Area: 575
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 89
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,944
  • Lot Size Frontage Feet: 810
  • Total Building Area: 2,757
  • Gross Building Area: 2,757
  • Building Area: 1,994
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,994
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CARIBBEAN EAST
  • Land Acres: 0000000274
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: CARIBBEAN EAST UNIT 3 LOT 2 BLK K

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 021001

Geography

  • Assessors Map Reference: 39
  • Parcel: 23-1S-22-4763-000K-0020
  • Block: K
  • Lot: 2
  • Meridian: SEC 23 TWN 01S RNG 22W
  • Municipality: NORTH BAY FIRE
  • Latitude: 30.4811
  • Longitude: -86.4171

    Address

  • Full Address: 612 Nassau Dr
  • Legal Unit: 3
  • Address - House Number: 612
  • Address - Street Name: Nassau
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Niceville
  • Carrier Code: R007
  • 4-Digit Zip Code: 4023
  • Zip Code: 32578

Valuation

    Tax

  • Total Area: 2,454
  • Tax Year: 2023
  • Tax Amount: $193,474
  • Tax Rate Code Area: 014

    Appraisal Valuation

  • Standard Deviation: 0.1937
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 74
  • Final Value: 458,504
  • High Value: 547,327
  • Low Value: 369,682

    Market Valuation

  • Market Total Value: $333,828
  • Market Land Value: $88,263
  • Market Improvement Value: $245,565

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $198,780

    Exemptions

  • Veteran Exemption: Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Dec 18, 2003
  • Current Sale Recording Date: Dec 22, 2003
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2083148
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 Bluewater Bay

Stats & Trends

Median Asking:

$496,500

Sale Price/ft²

$258

Below Asking

0.01%

Average Days on Market

69

Average Home Size

1968 ft²

Average Home Age

31.7 years

Currently For Sale

47 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

Currently no nearby rentals
ECAR

Listed by: Maria Howell, REV Realty
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 980021
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 612 Nassau Drive built and last sold?
The property at 612 Nassau Drive was built in 1985 and last sold on Dec 18, 2003 for $197,000.
How much is this home worth?
The estimated value of the home located at 612 Nassau Drive is $453,490.
What are some comparable homes to 612 Nassau Drive?
There are currently no comparable homes to 612 Nassau Drive.
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