Lake-View
For Sale
$565,000
34 Meigs Drive, Shalimar, FL 32579
Residential, Shalimar, FL
Property Size1,760 SF
Lot Size0.55 Acres
Price / SF$321.02
Days on Market102
Property Features for 34 Meigs Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family, Resid
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Dining Room, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Parking
8
Window features
Window Treatments
Patio and Porch features
Patio
Interior features
Newly Painted, Washer/Dryer Hookup
Exterior features
Lawn Pump
Fencing
Privacy, Fenced
Appliances
Cooktop, Dishwasher, Dryer, Freezer, Microwave, Oven Self Cleaning, Range Hood, Refrigerator, Stove/Oven Gas, Washer, Water Heater - Gas
Subdivision
Port Dixie
Lot features
Within 1/2 Mile to Water, Wooded
View
Lake
Elementary school
Shalimar
Middle school
Meigs
High school
Choctawhatchee
Directions
North on Eglin Pkwy to East on Old Ferry Road (next to Havertys). Turn left onto Meigs Drive then between the churches follow to the stop sign. Turn right at the stop sign onto Meigs Drive. The duplex is located on the left side on Meigs Drive.
Standard status
Active
APN
05-2S-23-2080-0004-0110
Size
1,760 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Port Dixie All That Part Of 10-14 & S10 Ft Of Lots 15-18 & 20Ft Of Vac R/W 868-955 Des As Such: Beg 6Ft W Of The Se Cor Of Lot 11 Thc E 116Ft Alg S Lot Lines To A Pt 20Ft E Of The Se Cor Of Lot 14 Thc N 180Ft Thc W 130Ft To A Pt 10Ft E And 10Ft N Of The Sw Cor Lot 18 S 20Ft W 33Ft S20 Deg E 128.52Ft W 40Ft To Pob
Tax Annual Amount
4906
Legal Description
Port Dixie All That Part Of 10-14 & S10 Ft Of Lots 15-18 & 20Ft Of Vac R/W 868-955 Des As Such: Beg 6Ft W Of The Se Cor Of Lot 11 Thc E 116Ft Alg S Lot Lines To A Pt 20Ft E Of The Se Cor Of Lot 14 Thc N 180Ft Thc W 130Ft To A Pt 10Ft E And 10Ft N Of The Sw Cor Lot 18 S 20Ft W 33Ft S20 Deg E 128.52Ft W 40Ft To Pob
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Well
Amenities
spectacular views
screened-in porch
walk-in shower
Building Details
Year built
1973
Floors in Building
1
Flooring type
Carpet, Vinyl, Hardwood
Building materials
Brick, Siding Brick Front, Siding Vinyl, Trim Vinyl
Architectural style
Other
Listing Agency:
Lokation
(954) 545-5583
Listed By:
Kimberly Larson · License #3375510
(850) 420-0472
Added: Jul 4
Changed: Oct 1
Last Checked: Oct 13 at 7:06PM
MLS# 1006953
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 duplex contains two separate residences, each configured with 2 bedrooms and 2 full bathrooms, within 1,760 square feet. The property sits on 0.55 acres and was built in 1973. Unit A received a substantial interior renovation in 2018, including new flooring, wall finishes, fixtures, appliances, and HVAC service. Unit B includes refreshed bathrooms with a walk-in shower, updated appliances, and new LVP flooring. Central heating and air conditioning serve the building, and washer/dryer hookups are provided.
The property is fully rented and offers views toward Lake Vivian, Lake Clyde, the Choctawhatchee Bay, and Okaloosa Island. A screened porch serves Unit A. Other improvements include a 2018 roof, a 150-foot sewer line installed in 4/2023, a 2021 water heater, and a new HVAC system installed in July 2022. The parcel is located at 34 Meigs Drive in Shalimar, Florida.
The property is fully rented and offers views toward Lake Vivian, Lake Clyde, the Choctawhatchee Bay, and Okaloosa Island. A screened porch serves Unit A. Other improvements include a 2018 roof, a 150-foot sewer line installed in 4/2023, a 2021 water heater, and a new HVAC system installed in July 2022. The parcel is located at 34 Meigs Drive in Shalimar, Florida.
Key Highlights
- Two 2‑bedroom, 2‑bath units totaling 1,760 square feet
- 0.55‑acre parcel with views of Lake Vivian, Lake Clyde, the Choctawhatchee Bay, and Okaloosa Island
- Fully rented duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,258
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,160
$405.2K
Cap Rate 7%
$289,400
$289.4K
Cap Rate 9%
$225,089
$225.1K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$30.6K $17.40/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$28.9K $16.44/SF
− OpEx
−$8.7K −$4.93/SF
NOI
$20.3K $11.51/SF
Area
Okaloosa County, FL
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,160
Cap Rate 7%
$289,400
Cap Rate 9%
$225,089
Alternative Uses
Best Use
Multifamily LT 5
$289.4K
$253.2K – $337.6K
NOI $20,258 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$260.1K
$227.6K – $303.5K
NOI $18,208 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$678.2K
$593.5K – $791.3K
NOI $47,477 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 32579, FL
10,444
Population
5,130
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
95%
High-School Grad
3.5 sq mi
ZIP Area
2,984
Density / Sq Mi
$98,014
Median Household Income
$46,926
Median Earnings
$1,582
Median Rent
$430,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex with updated interiors, separate two-bedroom residences, and water views from the property.
Where is this duplex located?
The property is located at 34 Meigs Drive Shalimar, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units totaling 1,760 square feet; 0.55‑acre parcel with views of Lake Vivian, Lake Clyde, the Choctawhatchee Bay, and Okaloosa Island; Fully rented duplex
