Single-Family Residence with Covered
For Sale
$532,987
415 A Suwannee Drive, Watersound, FL 32461
MULTI_FAMILY - Other - Watersound, FL
Property Size1,442 SF
Price / SF$369.62
Days on Market61
Property Features for 415 A Suwannee Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
Resid Single Family
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Family Room, Bedroom 2, Bedroom 1
Parking
2
Window features
Storm Window(s)
Patio and Porch features
Porch, Patio
Interior features
Kitchen Island, Lighting Recessed, Pantry, Pull Down Stairs, Washer/Dryer Hookup, Woodwork Painted
Exterior features
Sprinkler System
Appliances
Auto Garage Door Opn, Cooktop, Dishwasher, Disposal, Microwave, Refrigerator, Security System, Smoke Detector, Stove/Oven Electric, Warranty Provided, Water Heater - Tnkls
Subdivision
WATERSOUND ORIGINS
Lot features
Interior, Wooded
Elementary school
Dune Lakes
Middle school
Emerald Coast
High school
South Walton
Directions
Located in the Watersound Town Center. From Hwy 98, turn onto Watersound Pkwy North, then turn right onto Origins Main St, and the Watersound Real Estate office is the second building on the right. 34 Origins Main St, Ste 101.
Standard status
Active
APN
23-3S-18-16160-000-0560
Size
1,442 SF
Taxes and HOA fees
Tax Description
LOT 56 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3362-2141
HOA Fee
$924 Quarterly
Legal Description
LOT 56 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3362-2141
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
1
Flooring type
Vinyl, Tile
Building materials
Frame, Siding CmntFbrHrdBrd
Architectural style
Other
Listing Agency:
Watersound Real Estate
(850) 213-5170
Listed By:
Builder Services
(850) 213-5170
Added: Jul 3
Changed: Aug 5
Last Checked: Sep 1 at 12:06PM
MLS# 1006928
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 newly planned single-family residence features 10-foot ceilings and an open kitchen, dining, and family room for a central gathering layout. The home offers two bedrooms, two bathrooms, plus an additional powder room, along with a 1.5-car garage. The kitchen includes a large island, walk-in pantry, gas cooktop, quartz countertops, soft-close cabinetry, and a ceramic tile backsplash. Throughout the home, luxury vinyl plank flooring supports a clean, low-maintenance design. Practical upgrades include impact-rated windows, 8-foot interior doors, a tankless water heater, a Smart Home package, and a covered rear patio. Additional exterior and owner-support items include a gas grill rough-in and exterior lawn maintenance.
The property is part of the Villas at Longleaf Park within Watersound Origins, with a homesite overlooking a retention pond and wooded backdrop. Estimated completion is November/December 2026. Nearby conveniences include Watersound Town Center, Publix, restaurants, medical offices, and Highway 98, while community amenities include the Origins Golf Course, Village Commons, and walking trails.
With its open-plan main living area, enclosed primary suite at the rear, and covered patio for outdoor enjoyment, this home is well suited for owner-occupants seeking a low-maintenance finish package and for buyers looking for a residence in the Watersound Origins community. The pond-facing setting and included exterior maintenance add day-to-day convenience, while the Smart Home features and tankless hot water support modern living.
The property is part of the Villas at Longleaf Park within Watersound Origins, with a homesite overlooking a retention pond and wooded backdrop. Estimated completion is November/December 2026. Nearby conveniences include Watersound Town Center, Publix, restaurants, medical offices, and Highway 98, while community amenities include the Origins Golf Course, Village Commons, and walking trails.
With its open-plan main living area, enclosed primary suite at the rear, and covered patio for outdoor enjoyment, this home is well suited for owner-occupants seeking a low-maintenance finish package and for buyers looking for a residence in the Watersound Origins community. The pond-facing setting and included exterior maintenance add day-to-day convenience, while the Smart Home features and tankless hot water support modern living.
Key Highlights
- Anfield plan under construction, scheduled completion November/December 2026
- 1,442 SF home with 2 bedrooms, 2 bathrooms, plus a powder room and 1.5‑car garage
- Open kitchen/dining/family room with 10‑foot ceilings and recessed lighting
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
$15,970
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
3.00%
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%
$319,400
$319.4K
Cap Rate 7%
$228,143
$228.1K
Cap Rate 9%
$177,444
$177.4K
Market Conditions
NOI Build-Up for 1,442 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
$34.6K $24.00/SF
− Vacancy
−$5.6K −$3.86/SF
EGI
$29.0K $20.14/SF
− OpEx
−$13.1K −$9.06/SF
NOI
$16.0K $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%
$319,400
Cap Rate 7%
$228,143
Cap Rate 9%
$177,444
Alternative Uses
Best Use
Apartment 5plus
$228.1K
$199.6K – $266.2K
NOI $15,970 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.6K
$317.3K – $423.1K
NOI $25,385 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 32461, FL
2,878
Population
5,860
Households
0.5
Avg Household Size
52
Median Age
59%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
193
Density / Sq Mi
$146,393
Median Household Income
$82,620
Median Earnings
$2,665
Median Rent
$947,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - New construction single-family home with open living space, covered patio, and pond-and-wooded backdrop views.
Where is this single family property located?
The property is located at 415 A Suwannee Drive Watersound, FL.
What is the asking price?
The asking price for this property is $532,987.
What are key features of this property?
This property features: Anfield plan under construction, scheduled completion November/December 2026; 1,442 SF home with 2 bedrooms, 2 bathrooms, plus a powder room and 1.5‑car garage; Open kitchen/dining/family room with 10‑foot ceilings and recessed lighting
