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    245 Diamond Cv Destin, FL 32541

    View on Map
    Sponsored
    For Sale
    $467,000

    MULTI_FAMILY - Other - Destin, FL

    Property size:
    1,825 SF
    Lot size:
    0.06 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 22 at 12:06 am

    Property Features for 245 Diamond Cv

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Double Pane Windows
    Zoning
    Resid Multi-Family
    Rooms
    Family Room, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1
    Bedrooms
    3
    Bathrooms
    2
    APN
    00-2S-22-1008-0000-D100
    Parking
    2
    Parking features
    Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Breakfast Bar, Ceiling Cathedral, Ceiling Crwn Molding, Ceiling Raised, Ceiling Tray/Cofferd, Ceiling Vaulted, Fireplace, Lighting Recessed, Pantry, Washer/Dryer Hookup
    Exterior features
    Columns
    Fireplace
    1
    Appliances
    Auto Garage Door Opn, Dishwasher, Disposal, Dryer, Range Hood, Refrigerator, Smoke Detector, Stove/Oven Electric, Washer, Water Heater - Gas
    Size
    1,825 SF
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2005
    Floors in Building
    1
    Flooring type
    Tile, Carpet
    Building materials
    Brick, Frame
    Architectural style
    Other

    We can help!

    Listing Contact
    Michele A Warneke
    Michele A Warneke

    Keller Williams Realty- Emerald Coast

    Listing agent Michele A Warneke License #3484020

    Listing date Mar 20, 2026

    MLS# 998450

    Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Updated Townhome Near Gulf

    This updated townhome is located in the Diamond Lakes community of Destin, Florida, minutes from the Gulf. The property features custom finishes throughout, including kitchen cabinets, Cambria countertops, and porcelain tile. Five sun tubes have been added to enhance natural sunlight. Impact windows and an impact French door leading to the screened patio have been installed. Fresh paint adorns the doors, trim, and ceiling, complemented by new carpeting in the primary and secondary bedrooms. Tile flooring extends into the third bedroom/office. The home includes a washer and dryer. A 2022 roof, 2018 HVAC system, and a 2024 gas water heater are present. With over 1800 square feet of living space, the property features vaulted ceilings and a step-free, single-level layout. The HOA covers landscaping and trash services. The property is suitable for full-time living, a second home, or a long-term rental investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Destin
    County
    Walton
    State
    Florida
    Longitude
    -86.452431
    Latitude
    30.392836

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    FAQs

    What type of property is this?
    Single family property - Turnkey townhome in Diamond Lakes, minutes from the Gulf.
    Where is this single family property located?
    The property is located at 245 Diamond Cv Destin, FL.
    What is the asking price?
    The asking price for this property is $467,000.
    What are key features of this property?
    This property features: - Completely updated with custom finishes, including **kitchen cabinets, Cambria countertops, and porcelain tile.**; - **Impact windows and impact french door** for enhanced storm protection.; - New (2024) gas water heater, 2022 roof, and 2018 HVAC.
    (512) 203-9322
    Request Owner's contact information
    245 Diamond Cv Destin, FL 32541
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    Destin, FL 32541
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    245 Diamond Cv Destin, FL 32541
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    We can help!
    Listing Contact
    Michele A Warneke
    Michele A Warneke
    Real Estate License ID: 3484020
    Learn More
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