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    Updated Townhome Steps to Beach Title is generated by Realmo AI

    36 N Myrtle Drive UNIT 103, Santa Rosa Beach, FL 32459

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    For Sale
    $520,000

    Updated townhome near the beach, ideal for vacation rental.

    Type:Condo/Townhome
    Property size:
    1,096 SF
    Lot size:
    0.01 Acres
    Price / SF:
    $474/SF
    Added:
    Mar 23, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 11:23 pm

    Property Features for 36 N Myrtle Drive UNIT 103

    General Information

    Standard status
    Active
    Size
    1,096 SF
    Lot size
    0.01 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    Justin A Endsley
    Justin A Endsley

    Listing agent Justin A Endsley License #3381553

    Listing office Gulf Realty 30A LLC

    Listing date Mar 23, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Gulf Realty 30A LLC

    HighLights

    • Steps to Beach: Only 800 feet to beach access in Seagrove on 30A.
    • Updated in 2024: Features a new kitchen with quartz countertops, stainless steel appliances, and cabinets; new LVP flooring; upgraded full bath.
    • Fully Furnished: Ready to move in or rent out immediately.
    • Vacation Rental Potential: Doubles as a solid vacation rental property.
    • Prime Location: Conveniently located near Seaside, The Big Chill, Watercolor, and Rosemary Beach.
    • Community Amenities: Includes access to a community pool and tennis courts.

    Overview

    This fully furnished, two-story townhome features two bedrooms and one and a half baths. Located in the heart of Seagrove on 30A, it offers beach access just 800 feet away. The property has been updated in 2024 with new quartz countertops, stainless steel appliances, and cabinets in the kitchen, along with new LVP flooring throughout and an upgraded full bath. The exterior of the buildings in Cassine Garden has been recently painted, providing a fresh coastal aesthetic. Both floors include open-air patio spaces surrounded by greenery. There are two exterior storage closets, one on each floor. The HVAC system and water heater were installed in 2020, and the roof was replaced in 2017. Residents can enjoy access to a community pool and tennis courts. The location is convenient to Seaside, The Big Chill (Formerly The HUB), Watercolor, and Rosemary Beach. This property is suitable as a home or a vacation rental.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.107698
    Latitude
    30.311342

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    FAQs

    What type of property is this?
    Short term rental property - Updated townhome near the beach, ideal for vacation rental.
    Where is this short term rental property located?
    The property is located at 36 N Myrtle Drive UNIT 103 Santa Rosa Beach, FL.
    What is the asking price?
    The asking price for this property is $520,000.
    What are key features of this property?
    This property features: Steps to Beach: Only 800 feet to beach access in Seagrove on 30A.; Updated in 2024: Features a new kitchen with quartz countertops, stainless steel appliances, and cabinets; new LVP flooring; upgraded full bath.; Fully Furnished: Ready to move in or rent out immediately.
    (850) 687-1261
    We can help!
    Listing Contact
    Justin A Endsley
    Justin A Endsley
    Real Estate License ID: 3381553
    Learn More
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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.

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    36 N Myrtle Drive UNIT 103, Santa Rosa Beach, FL 32459
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