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Okaloosa 32578 Caribbean Village East
706 Providence Way
$397,400
● House - Off Market

706 Providence Way

Niceville, FL 32578
bedrooms
3 Beds
bathrooms
2 Baths
$2,133
Est. Monthly

About This Property

Location, convenience and ease of living!  Bluewater Bay has it all.  If a neighborhood that promotes the Florida lifestyle is what you are hoping to find - this could be ''The One''. Located on a beautiful street with other well maintained homes - 706 Providence Way offers great living spaces, nice-sized bedrooms, an updated kitchen, huge backyard...and it's all on a beautiful shaded lot. The oversized living area and a 200 sqft heated and cooled Florida room will accommodate your family as will the big back yard.  Let's don't forget to mention the expanded patio for grilling, the storage shed in the back, additional storage cabinets in the garage and an automated sprinkler system! Items of note: Roof 2012 (seller willing to replace with acceptable offer), HVAC 2024, Water Heater 2020.
Unit Size
-
Days on Market
8 days
Land Size
0.27 acres
Price per sqft
-
Property Type
House
Property Taxes
$169
HOA Dues
-
Year Built
1982

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 10 months ago (ECAR #991673)

Price History

Date / Event Date Event Price
Dec 30, 2025 Sold
Premium
Sold
Dec 22, 2025 Listed by NextHome Cornerstone Realty $399,900
Listed by NextHome Cornerstone Realty
Oct 29, 2025 Price Decreased $399,900
↓ $10K (2.5%)
Price Decreased
Oct 7, 2025 Relisted $410,000
Relisted
Sep 26, 2025 In contract -
In contract
Show More

Property Highlights

Garage
Fireplace

Building Info

Overview

    General

  • Year Built: 1982
  • Effective Year Built: 1982
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 19
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 21
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 439
  • Parking Space Count: 0
  • Patio Type: 94
  • Porch Type: 89
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,944
  • Lot Size Frontage Feet: 810
  • Total Building Area: 2,542
  • Gross Building Area: 2,542
  • Building Area: 1,698
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,698
  • 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 9 BLK K

Neighborhood

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

Geography

  • Assessors Map Reference: 39
  • Parcel: 23-1S-22-4763-000K-0090
  • Block: K
  • Lot: 9
  • Meridian: SEC 23 TWN 01S RNG 22W
  • Municipality: NORTH BAY FIRE
  • Latitude: 30.4808
  • Longitude: -86.4167

    Address

  • Full Address: 706 Providence Way
  • Legal Unit: 3
  • Address - House Number: 706
  • Address - Street Name: Providence
  • Address - Suffix Type: Way
  • State: FL
  • City Name: Niceville
  • Carrier Code: R004
  • 4-Digit Zip Code: 4026
  • Zip Code: 32578

Valuation

    Tax

  • Total Area: 2,199
  • Tax Year: 2023
  • Tax Amount: $197,037
  • Tax Rate Code Area: 014

    Appraisal Valuation

  • Standard Deviation: 0.1937
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 74
  • Final Value: 434,548
  • High Value: 518,730
  • Low Value: 350,367

    Market Valuation

  • Market Total Value: $279,725
  • Market Land Value: $88,263
  • Market Improvement Value: $191,462

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $201,773

    Exemptions

  • Veteran Exemption: Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Mar 31, 2016
  • Current Sale Recording Date: Mar 31, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3057310
  • Previous Sale Recording Date: Apr 12, 2010
  • Previous Sale Contract Date: Mar 29, 2010
  • Previous Sale Amount: $215,000
  • Previous Sale Document Type: 55
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:

$483,750

Sale Price/ft²

$259

Below Asking

0.01%

Average Days on Market

64

Average Home Size

2125 ft²

Average Home Age

31.6 years

Currently For Sale

69 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

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ECAR

Listed by: Tracy L Wood, NextHome Cornerstone Realty
Last Updated: 10 months ago
Data Source: Emerald Coast MLS (ECAR), MLS# 991673
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 706 Providence Way built and last sold?
The property at 706 Providence Way was built in 1982 and last sold on Mar 31, 2016 for $269,900.
How much is this home worth?
The estimated value of the home located at 706 Providence Way is $403,899.
What are some comparable homes to 706 Providence Way?
There are currently no comparable homes to 706 Providence Way.
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