Single-Level Cottage with Water
For Sale
$549,995
Pending
450 A Suwannee Drive, Watersound, FL 32461
Residential, Watersound, FL
Property Size1,442 SF
Days on Market210
Property Features for 450 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
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Family Room, Bathroom 3
Window features
Storm Window(s)
Interior features
Kitchen Island, Pantry, Woodwork Painted
Appliances
Auto Garage Door Opn, Dishwasher, Microwave, Refrigerator, Security System, Stove/Oven Gas, Warranty Provided, Water Heater - Tnkls
Subdivision
WATERSOUND ORIGINS
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
Pending
APN
23-3S-18-16160-000-0200
Size
1,442 SF
Taxes and HOA fees
Tax Description
LOT 20 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3353-2175
HOA Fee
$924 Quarterly
Legal Description
LOT 20 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3353-2175
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
Origins Golf Course
resort-style pool at Village Commons
sports courts
Building Details
Year built
2026
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Frame, Siding CmntFbrHrdBrd
Architectural style
Other
Listing Agency:
Watersound Real Estate
(850) 213-5170
Listed By:
Builder Services
(850) 213-5170
Added: Feb 3
Changed: Aug 25
Last Checked: Sep 1 at 11:06AM
MLS# 994403
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.
Built by Fischer Homes, this Anfield Coastal Cottage in The Villas at Longleaf Park neighborhood offers thoughtfully planned single-level living with 2 bedrooms, 2 full baths, and an added powder room. The home features 10-foot ceilings and an open kitchen and family room layout. Interior upgrades include quartz kitchen countertops with a farmhouse sink, upgraded kitchen and bath cabinetry, a stainless canopy range hood, luxury vinyl flooring throughout, and tile extended to the ceiling in both full baths. The Owner’s Suite includes the Luxury Bath Suite and an expansive walk-in closet, and an installed smart home security package provides remote access and monitoring.
A covered patio overlooks the water, supporting low-maintenance living through HOA membership that covers lawn care and exterior home upkeep. The community offers amenities including the Origins Golf Course, a resort-style pool at Village Commons, and sports courts.
Located in Watersound, Florida (Walton County) at 450 A Suwannee Drive, the property is zoned Resid Single Family.
A covered patio overlooks the water, supporting low-maintenance living through HOA membership that covers lawn care and exterior home upkeep. The community offers amenities including the Origins Golf Course, a resort-style pool at Village Commons, and sports courts.
Located in Watersound, Florida (Walton County) at 450 A Suwannee Drive, the property is zoned Resid Single Family.
Key Highlights
- Under construction 2026 Fischer Homes Anfield Coastal Cottage with single‑level layout
- 2 bedrooms, 2 full baths plus a powder room, with open kitchen and family room layout
- 10‑foot ceilings and covered patio with a peaceful water view
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
2.90%
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 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.6K
$317.3K – $423.1K
NOI $25,385 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10 ft
Clear height
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 - An Anfield Coastal Cottage with open living, 2 bedrooms and 2 full baths plus powder room, and a covered patio overlooking water.
Where is this single family property located?
The property is located at 450 A Suwannee Drive Watersound, FL.
What is the asking price?
The asking price for this property is $549,995.
What are key features of this property?
This property features: Under construction 2026 Fischer Homes Anfield Coastal Cottage with single‑level layout; 2 bedrooms, 2 full baths plus a powder room, with open kitchen and family room layout; 10‑foot ceilings and covered patio with a peaceful water view
