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Destin 32541 Spring Lake
735 Spring Lake Drive
$450,000
● House - Off Market

735 Spring Lake Drive

Destin, FL 32541
bedrooms
3 Beds
bathrooms
3 Baths
$453,489
RealtyHop Estimate
0.78%
Since Jun 1, 2023
National-US
Primary Model

About This Property

West Destin Brick Ranch has plenty of curb appeal with a beautiful lawn on a corner lot..  Duck pond and Destin Elementary School within 1/2 mile. Keep your boat on a trailer and Launch at Joe's Bayou within 1.5 miles.  Large Eat-In kitchen features center island, granite counters, and smudge-less Stainless matching appliances. Solid surface flooring throughout.  Three bedrooms along with 3 Full Baths. Ten windows in the sunroom add tons of natural light. Enjoy morning coffee while soaking in the hot tub on the screened-in porch in a Privacy fenced back yard.  Bonus Parking for an RV . Newer Windows along the front /side of home and hurricane shutters with locks for peace of mind.   Roof less than 10 years old. Crown molding and knock down ceilings throughout.  This home checks all boxes!
Unit Size
-
Days on Market
130 days
Land Size
0.31 acres
Price per sqft
-
Property Type
House
Property Taxes
$178
HOA Dues
-
Year Built
1980

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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 #915242)

Price History

Date / Event Date Event Price
Jun 1, 2023 Sold
Premium
Sold
Jan 18, 2023 Listed by Keller Williams Realty Destin $450,000
Listed by Keller Williams Realty Destin
Jun 1, 2016 Sold
Premium
Sold
Dec 2, 2014 Sold
Premium
Sold

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1980
  • Effective Year Built: 1980
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • 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: 21
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 609
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 125
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 13,655
  • Lot Size Frontage Feet: 1,340
  • Total Building Area: 2,485
  • Gross Building Area: 2,485
  • Building Area: 1,572
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,572
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: 1ST SPRING LAKE ADD
  • Land Acres: 0000000314
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: 1ST SPRING LAKE ADDN KELLY HOMES S/D LOT 19 BLK A

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023307

Geography

  • Assessors Map Reference: 47
  • Parcel: 00-2S-22-2370-000A-0190
  • Block: A
  • Lot: 19
  • Municipality: DESTIN
  • Latitude: 30.4
  • Longitude: -86.4884

    Address

  • Full Address: 735 Spring Lake Dr
  • Address - House Number: 735
  • Address - Street Name: Spring Lake
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Destin
  • Carrier Code: C010
  • 4-Digit Zip Code: 1962
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 2,064
  • Tax Year: 2023
  • Tax Amount: $219,641
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.1957
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 73
  • Final Value: 451,206
  • High Value: 539,509
  • Low Value: 362,903

    Market Valuation

  • Market Total Value: $345,901
  • Market Land Value: $117,943
  • Market Improvement Value: $227,958

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $222,397

    Sales

  • Current Sale Contract Date: May 31, 2023
  • Current Sale Recording Date: Jun 01, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3626989
  • Previous Sale Recording Date: Jun 01, 2016
  • Previous Sale Contract Date: May 31, 2016
  • Previous Sale Amount: $260,000
  • Previous Sale Document Type: 71
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 Spring Lake

Stats & Trends

Median Asking:

$440,000

Sale Price/ft²

$271

Below Asking

0.02%

Average Days on Market

95

Average Home Size

1984 ft²

Average Home Age

46.5 years

Currently For Sale

2 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

Rentals Near You

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ECAR

Listed by: Sharon L Gross, Keller Williams Realty Destin
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 915242
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 735 Spring Lake Drive built and last sold?
The property at 735 Spring Lake Drive was built in 1980 and last sold on May 31, 2023 for $450,000.
How much is this home worth?
The estimated value of the home located at 735 Spring Lake Drive is $456,166.
What are some comparable homes to 735 Spring Lake Drive?
There are currently no comparable homes to 735 Spring Lake Drive.
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