674 Emerald Bay Drive
About This Property
Located in the gates of Emerald Bay Golf Club. This 3-bedroom, 3-bath pool home has been extensively updated and lightly lived in since the improvements were completed: new roof (2024), fresh exterior paint throughout, new pavers at the driveway/entry, updated lighting, and a whole-home generator.
Furnishings could convey, so you can move in or start enjoying it the day you close. Roughly 1,984 SF of open, light-filled living flows out to the covered lanai and private pool, framed by mature golf-course landscaping with glimpses of Choctawhatchee Bay. Three full baths make hosting easy, and the third bedroom works well for guests or a home office.
Emerald Bay is one of Destin's most established gated golf communities, with a redesigned championship course along the bay, a newly remodeled clubhouse with bar and restaurant, a community pool, and two clay tennis courts. Minutes to Destin Commons, Harbor Walk Village, and the sugar-white beaches of South Walton.
HVAC and water heater replaced in 2018. Low-maintenance lot. The major work has already been done. The furnishings are already here. Bring your suitcase and start enjoying Destin.
Schedule your private tour today.
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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 |
|---|---|---|---|
| Nov 6, 2026 | In contract | - | |
| In contract | |||
| Sep 24, 2026 | Listed by EXP Realty LLC | $700,000 | |
| Listed by EXP Realty LLC | |||
| Sep 20, 2025 | Price Decreased |
$799,000
↓ $21K
(2.6%) | |
| Price Decreased | |||
| Sep 4, 2025 | Price Decreased |
$820,000
↓ $28K
(3.3%) | |
| Price Decreased | |||
| Aug 3, 2025 | Price Decreased |
$848,000
↓ $20K
(2.3%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017