Townhome with Screened
For Sale
$449,000
252 Diamond Cove, Destin, FL 32541
MULTI_FAMILY - Other - Destin, FL
Property Size1,748 SF
Price / SF$256.86
Days on Market51
Property Features for 252 Diamond Cove
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Single Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Family Room, Bedroom 1, Dining Room, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2
Parking
2
Parking features
Garage
Patio and Porch features
Patio, Porch
Interior features
Ceiling Vaulted
Exterior features
Sprinkler System
Fireplace
1
Appliances
Auto Garage Door Opn, Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer, Water Heater - Gas
Subdivision
DIAMOND LAKES
Lot features
Level, Restrictions, Sidewalk
Elementary school
Destin
Middle school
Destin
High school
Destin
Directions
HWY 98 TO ENDERSON BEACH RD, LEFT ON COMMONS DR. TAKE RIGHT ON DIAMOND COVE . TOWNHOUSE ON THE LEFT SIDE OF STREET.
Standard status
Active
APN
00-2S-22-1008-0000-0B60
Size
1,748 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Diamond Lakes Lot B6
Tax Annual Amount
3842
HOA Fee
$250 Monthly
Legal Description
Diamond Lakes Lot B6
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2006
Floors in Building
1
Flooring type
Carpet, Tile
Building materials
Brick, Trim Vinyl
Architectural style
Other
Listing Agency:
World Impact Real Estate
(850) 225-7000
Listed By:
William E Humpert · License #3362531
(812) 614-4333
Added: Jun 23
Changed: Aug 2
Last Checked: Aug 12 at 8:06AM
MLS# 1006136
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.
Investment Insights
Based on property information with market context.
This townhome offers a practical, family-friendly layout with three bedrooms and two bathrooms. The kitchen is positioned with a clear view of the dining and living areas, supporting everyday visibility and easy entertaining flow. The living room includes ample space for a sectional, along with a cozy gas fireplace for added warmth. The primary bedroom is designed for comfort and privacy, featuring a walk-in closet and an en-suite bathroom with double vanities, a shower, and a soaking tub. Additional living space opens to a screened-in back porch, providing a covered outdoor area for starting the day or unwinding in the evening.
Located at 252 Diamond Cove in Destin, Florida 32541, the home falls under residential single-family zoning. At approximately 1,748 square feet, it presents a manageable size for owner-occupants or buyers seeking a second home or rental-ready property.
From a tenant or buyer fit perspective, the combination of distinct living and entertaining areas, an in-home fireplace feature, and a dedicated primary suite makes this layout straightforward and functional. The screened porch also adds everyday outdoor usability without exposing the space to the elements. Overall, it’s a versatile townhome configuration suited to a range of residential needs, from personal use to investment ownership.
Located at 252 Diamond Cove in Destin, Florida 32541, the home falls under residential single-family zoning. At approximately 1,748 square feet, it presents a manageable size for owner-occupants or buyers seeking a second home or rental-ready property.
From a tenant or buyer fit perspective, the combination of distinct living and entertaining areas, an in-home fireplace feature, and a dedicated primary suite makes this layout straightforward and functional. The screened porch also adds everyday outdoor usability without exposing the space to the elements. Overall, it’s a versatile townhome configuration suited to a range of residential needs, from personal use to investment ownership.
Key Highlights
- 3‑bedroom, 2‑bath townhome built in 2006
- Central heating and central air conditioning
- Gas fireplace and vaulted ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,359
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,180
$387.2K
Cap Rate 7%
$276,557
$276.6K
Cap Rate 9%
$215,100
$215.1K
Market Conditions
NOI Build-Up for 1,748 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.0K $24.00/SF
− Vacancy
−$6.8K −$3.86/SF
EGI
$35.2K $20.14/SF
− OpEx
−$15.8K −$9.06/SF
NOI
$19.4K $11.07/SF
Area
Walton County, FL
Vacancy
16.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,180
Cap Rate 7%
$276,557
Cap Rate 9%
$215,100
Alternative Uses
Best Use
Apartment 5plus
$276.6K
$242.0K – $322.7K
NOI $19,359 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$439.6K
$384.7K – $512.9K
NOI $30,772 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 32541, FL
18,419
Population
16,390
Households
1.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,462
Density / Sq Mi
$93,004
Median Household Income
$47,991
Median Earnings
$1,976
Median Rent
$498,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - A 3-bedroom, 2-bath townhome with a screened back porch, gas fireplace, and a private primary suite.
Where is this single family property located?
The property is located at 252 Diamond Cove Destin, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath townhome built in 2006; Central heating and central air conditioning; Gas fireplace and vaulted ceilings
