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Destin 32541
779 Spring Lake Drive
$530,000
● House - Off Market

779 Spring Lake Drive

Destin, FL 32541
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,146 Ft²
$1,166,278
RealtyHop Estimate
94.70%
Since Oct 1, 2013
National-US
Primary Model

About This Property

REDUCED ESTATE SALE!!! 1.6 ACRES OF FABULOUS WATERFRONT SITUATED IN THE HEART OF DESTIN ON THE DEEP PROTECTED WATER OF JOE'S BAYOU ... PERFECT SITE FOR MONSTER HOUSE ... THIS IS TRULY A BOATER'S AND WATER LOVER'S DREAM LOCATION ... LARGE BOAT NO PROBLEM ... NO HOMEOWNER'S ASSOCIATION AND NO ARCHITECTURAL REVIEW COMMITTEE TO CONTEND WITH ... THIS HUGE LOT IS A RARE FIND AND A GREAT DEAL AT THIS PRICE ... LOT DIMENSIONS ARE BASED ON PLAT AND SHOULD BE VERIFIED.
Unit Size
2,146 Ft²
Days on Market
-
Land Size
1.63 acres
Price per sqft
$279
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1959

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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: 2 years ago (ECAR MLS #545291)

Price History

Date / Event Date Event Price
Sep 5, 2013 Sold
Premium
Sold
Sep 17, 2010 Listed by RE/MAX Coastal Properties $599,000
Listed by RE/MAX Coastal Properties

Property Highlights

Air Conditioning
Garage

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1959
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 0
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 6
  • Roof Cover Type: 21
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 1
  • Patio Type: 59
  • Porch Type: 126
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 67,724
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 2,166
  • Gross Building Area: 2,166
  • Building Area: 2,146
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,146
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: JOES BAYOU 1ST ADDN
  • Land Acres: 0000001555
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: 1ST JOES BAYOU DESTIN LOT 48

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023306

Geography

  • Assessors Map Reference: 47
  • Parcel: 00-2S-22-1320-0048-0000
  • Block: 48
  • Lot: 48
  • Municipality: DESTIN
  • Latitude: 30.4045
  • Longitude: -86.4875

    Address

  • Full Address: 779 Spring Lake Dr
  • Address - House Number: 779
  • Address - Street Name: Spring Lake
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Destin
  • Carrier Code: C010
  • 4-Digit Zip Code: 1901
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 2,152
  • Tax Year: 2023
  • Tax Amount: $1,234,318
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.1694
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 78
  • Final Value: 1,192,335
  • High Value: 1,394,387
  • Low Value: 990,283

    Market Valuation

  • Market Total Value: $1,085,501
  • Market Land Value: $884,380
  • Market Improvement Value: $201,121

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,085,501
  • Assessed Land Value: $884,380
  • Assessed Improvements Value: $201,121

    Sales

  • Current Sale Contract Date: Aug 27, 2013
  • Current Sale Recording Date: Sep 05, 2013
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2880701
  • Previous Sale Recording Date: Sep 05, 2013
  • Previous Sale Contract Date: Apr 16, 1969
  • 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 Destin

Stats & Trends

Median Asking:

$548,000

Sale Price/ft²

$369

Below Asking

0.02%

Average Days on Market

79

Average Home Size

1803 ft²

Average Home Age

31.1 years

Currently For Sale

739 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: Ed & Terri Smith, RE/MAX Coastal Properties
Last Updated: 2 years ago
Data Source: Emerald Coast MLS (ECAR), MLS# 545291
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 779 Spring Lake Drive built and last sold?
The property at 779 Spring Lake Drive was built in 1959 and last sold on Aug 27, 2013 for $530,000.
How much is this home worth?
The estimated value of the home located at 779 Spring Lake Drive is $0.
What are some comparable homes to 779 Spring Lake Drive?
There are currently no comparable homes to 779 Spring Lake Drive.
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