73 Dune Drive
About This Property
Situated on approximately a quarter-acre, the property features a newly constructed 1,687 sq ft addition offering a spacious primary suite, additional living area, and 3 full bathrooms. This thoughtfully built wing provides immediate functional space & a valuable foundation for future development. The generous lot size provides ample room to add a private pool, further enhancing outdoor living & rental appeal.
The original 1974 structure located behind the addition offers flexible options for redevelopment. While it has been previously considered a tear-down, buyers may also choose to renovate and remodel the existing home as a one-story residence, as the current foundation does not support a second story. Builder estimates approximately $224,859 to renovate the original structure with finishes designed to match the completed addition, creating a cohesive and expanded living space.
Alternatively, buyers may opt for a full redevelopment approach. Builder estimates $900K, including demolition of the original structure, to build an additional 2,432 sq ft residence with finishes comparable to the existing addition. Upon completion, the property could offer a combined total of approximately 4,119 sq ft, featuring 5 bedrooms and 5 bathrooms, an ideal layout for both personal use and vacation rental performance. Development concepts and rental projections are available for review.
This unique configuration offers the flexibility to live on-site during construction, renovate for immediate use, or incorporate the existing structure into a larger custom build.
The location is exceptional, with multiple nearby beach accesses, including Dune Allen Regional Beach Access just moments away. Outdoor enthusiasts will appreciate close proximity to Topsail Hill Preserve State Park, known for its pristine beaches, rare coastal dune lakes, and scenic trails.
Enjoy easy access to some of 30A's most popular dining and entertainment destinations, including Stinky's Fish Camp, Shunk Gulley Oyster Bar, and Gulf Place, all just minutes away.
With strong projected rental income and exceptional redevelopment potential, this offering represents a compelling opportunity to create value in one of the Emerald Coast's most sought-after locations.
Listed By
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 |
|---|---|---|---|
| Jun 9, 2026 | Price Decreased |
$1,258,000
↓ $1K
(0.1%) | |
| Price Decreased | |||
| May 3, 2026 | Price Decreased |
$1,259,000
↓ $16K
(1.3%) | |
| Price Decreased | |||
| Mar 19, 2026 | Listed by EXP Realty LLC | $1,275,000 | |
| Listed by EXP Realty LLC | |||
| Jan 4, 2018 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017