87 Cannonball Lane
About This Property
Inside, the heart of the home centers around a thoughtfully designed kitchen featuring quartz countertops, custom cabinetry, and a new GE Cafe Series appliance suite - complete with induction cooktop, double ovens, wine and beverage fridge, dishwasher, and refrigerator. Updates continue throughout with stylish new lighting in the kitchen, dining area, and foyer. The open-concept design seamlessly flows into the living and dining spaces, while a screened porch equipped with Bromic heaters and fenced backyard provide inviting areas for outdoor relaxation and entertaining. The primary suite includes a custom California Closets upgrade, enhancing both organization and luxury. The home's location, just one block from the clubhouse, also provides easy access to a resort-style pool, playground, and fitness center.
Nature enthusiasts will appreciate the scenic trail located directly behind the home, offering both privacy and convenient access to the community's extensive pathways that connect to Watersound Commons. Residents enjoy an active, vibrant lifestyle with tennis and pickleball courts, a Davis Love-designed executive golf course, and year-round neighborhood gatherings. Nearby, the Monarch Art Trail and a growing array of shops, restaurants, and weekly farmers markets add to the community's appeal.
Set on a .19-acre corner lot within one of the most desirable non-short-term rental communities on the Emerald Coast, this home presents an exceptional opportunity to enjoy the best of Watersound Origins living, where natural beauty and modern convenience meet in perfect harmony.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 14, 2026 | Price Decreased |
$1,124,000
↓ $25K
(2.2%) | |
| Price Decreased | |||
| May 21, 2026 | Price Decreased |
$1,149,000
↓ $25K
(2.1%) | |
| Price Decreased | |||
| Mar 16, 2026 | Price Decreased |
$1,174,000
↓ $25K
(2.1%) | |
| Price Decreased | |||
| Jan 4, 2026 | Price Decreased |
$1,199,000
↓ $51K
(4.1%) | |
| Price Decreased | |||
| Oct 23, 2025 | Listed by Scenic Sotheby's International Realty | $1,250,000 | |
| Listed by Scenic Sotheby's International Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017