Short Term Rental Property with Screened
For Sale
$249,900
34 Blenheim Lane, Santa Rosa Beach, FL 32459
Residential, Santa Rosa Beach, FL
Property Size1,000 SF
Lot Size0.06 Acres
Price / SF$249.90
Days on Market37
Property Features for 34 Blenheim Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking
2
Patio and Porch features
Porch
Interior features
Breakfast Bar, Washer/Dryer Hookup
Exterior features
Fenced Back Yard
Fencing
Back Yard, Privacy
Appliances
Microwave, Refrigerator, Stove/Oven Electric, Water Heater - Elect
Subdivision
WINSTON MANOR T/H
Lot features
Covenants, Interior, Restrictions
Elementary school
Van R Butler
Middle school
Emerald Coast
High school
South Walton
Directions
From Hwy 98 Turn north at the new OTTOs carwash - Don Bishop Road
Standard status
Active
APN
29-2S-20-33020-000-0140
Size
1,000 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 14 WINSTON MANOR I TOWNHOMES & 1/16 INT IN COMMON ELEMENTS AS RECD IN OR 346-408 PB 6-45 OR 1517-295 OR 2007-57 OR 2263-263 OR 2684-1186 OR 2879-3965 OR 3057-2329
Tax Annual Amount
853
HOA Fee
$600 Annually
Legal Description
UNIT 14 WINSTON MANOR I TOWNHOMES & 1/16 INT IN COMMON ELEMENTS AS RECD IN OR 346-408 PB 6-45 OR 1517-295 OR 2007-57 OR 2263-263 OR 2684-1186 OR 2879-3965 OR 3057-2329
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Amenities
screened-in porch
storage shed
private backyard
Building Details
Year built
1984
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Frame, Siding Vinyl
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 650-4563
Listed By:
Bonnie S Hall · License #3067001
(850) 240-9901
Added: Jul 30
Changed: Sep 1
Last Checked: Sep 4 at 6:06AM
MLS# 1008849
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 beautifully maintained single-story townhome offers flexible use for short- and long-term rentals permitted per association guidelines. The interior includes a functional kitchen with ample cabinet space, an open living area, and a spacious primary suite with two closets and a separate sitting area that can support a home office, reading nook, nursery, or fitness space. A standout feature is the large screened-in porch overlooking a private, fenced backyard, with additional outdoor storage provided by a storage shed.
Set in a quiet, well-maintained community, the home is located in the heart of Santa Rosa Beach, just minutes from Scenic Highway 30A and approximately three miles from the Gulf’s sugar-white beaches. Nearby access includes shopping, dining, Grand Boulevard, biking paths, and outdoor recreation.
Key practical details include central heating and central air, tile and carpet flooring, washer/dryer hookup, and a septic tank. The roof and HVAC are both about 5 years old, and the home was built in 1984.
Set in a quiet, well-maintained community, the home is located in the heart of Santa Rosa Beach, just minutes from Scenic Highway 30A and approximately three miles from the Gulf’s sugar-white beaches. Nearby access includes shopping, dining, Grand Boulevard, biking paths, and outdoor recreation.
Key practical details include central heating and central air, tile and carpet flooring, washer/dryer hookup, and a septic tank. The roof and HVAC are both about 5 years old, and the home was built in 1984.
Key Highlights
- Large screened‑in porch overlooking a private fenced backyard
- Single‑story townhome with flexible short- and long‑term rental permission per association guidelines
- 0.06‑acre lot
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
$11,075
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
4.43%
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%
$221,500
$221.5K
Cap Rate 7%
$158,214
$158.2K
Cap Rate 9%
$123,056
$123.1K
Market Conditions
NOI Build-Up for 1,000 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
$24.0K $24.00/SF
− Vacancy
−$3.9K −$3.86/SF
EGI
$20.1K $20.14/SF
− OpEx
−$9.1K −$9.06/SF
NOI
$11.1K $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%
$221,500
Cap Rate 7%
$158,214
Cap Rate 9%
$123,056
Alternative Uses
Best Use
Apartment 5plus
$158.2K
$138.4K – $184.6K
NOI $11,075 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$251.5K
$220.1K – $293.4K
NOI $17,604 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 32459, FL
20,567
Population
17,700
Households
1.2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
377
Density / Sq Mi
$101,067
Median Household Income
$53,393
Median Earnings
$2,165
Median Rent
$613,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Well-maintained single-story townhome with a screened porch and fenced, private backyard in Santa Rosa Beach.
Where is this single family property located?
The property is located at 34 Blenheim Lane Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Large screened‑in porch overlooking a private fenced backyard; Single‑story townhome with flexible short- and long‑term rental permission per association guidelines; 0.06‑acre lot
