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767 & 783 HWY 90
About This Property
Remarks: Stretching across 38A± acres just minutes from downtown Chipley, this property tells the story of a dream that's ready for its next chapter. Two parcels, two access points directly off Hwy 90, and a landscape loaded with infrastructure and natural character waiting to be brought back to life. The front half of the property is believed to have been served by overhead power, while the back half was designed with underground utilities -- a detail that speaks to the intentional planning that went into this land. All power line infrastructure is present, though current condition and service status are unknown. Three wells
are believed to be on-site, positioned at the front, middle, and home site, offering potential water access across the full depth of the acreage -- however, the
condition and functionality of all wells are unknown and will require evaluation by the buyer. Winding trails thread throughout the property, making it easy to explore and envision what this land could become. Multiple ponds dot the landscape -- once teeming with koi and a variety of fish, they were well-stocked and well-loved. Their current state is unknown, but with some attention, they could easily return to their former glory and then some. Several outbuildings and sheds are scattered across the property in varying and unknown condition, offering storage or the start of something new. A previous home site on the rear parcel anchors the back of the property, complete with its own well and septic system -- both of unknown condition and functionality. The canvas is set for a new primary residence, guest home, or retreat, pending buyer due diligence. With Residential Low (RL) zoning allowing one dwelling per acre, the development possibilities here are substantial -- whether your vision is a private family compound, an agritourism destination, or a thoughtfully developed
residential community. The previous owner saw something special in this land. Now it's your turn.
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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 |
|---|---|---|---|
| May 30, 2026 | Price Decreased |
$349,000
↓ $50K
(12.5%) | |
| Price Decreased | |||
| Apr 14, 2026 | Listed by Legacy Premier Agency LLC | $399,000 | |
| Listed by Legacy Premier Agency LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017