Attached Single-Family
For Sale
$542,037
Pending
505-A Suwannee Drive, Watersound, FL 32461
Residential, Watersound, FL
Property Size1,448 SF
Days on Market202
Property Features for 505-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 3, Bedroom 2, Family Room, Bathroom 1, Bathroom 2, Bedroom 1
Window features
Storm Window(s)
Interior features
Kitchen Island, Pantry
Appliances
Auto Garage Door Opn, Dishwasher, Microwave, Refrigerator, 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 at the corner of Hwy 98 and Watersound Pkwy. From Hwy 98, turn onto Watersound Pkwy North, then turn right onto Origins Main St, and the Watersound Discovery Center is the 2nd building on the right, 34 Origins Main St, Ste 101.
Standard status
Pending
APN
23-3S-18-16160-000-0440
Size
1,448 SF
Taxes and HOA fees
Tax Description
LOT 44 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3380-2840
HOA Fee
$924 Quarterly
Legal Description
LOT 44 THE VILLAS AT LONGLEAF PARK PB 26-93 OR 3380-2840
Utilities
Sewer type
Public Sewer
Amenities
Origins Golf Course
resort-style pool
sports courts
full-service exterior maintenance
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) 428-3002
Added: Mar 31
Changed: Oct 8
Last Checked: Oct 18 at 7:06PM
MLS# 999926
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.
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Investment Insights
Based on property information with market context.
The Villas at Longleaf Park offers paired attached single-family villas designed for low-maintenance living. Exterior services including lawn care and home maintenance such as pressure washing and painting are fully managed. Inside, the ANFIELD plan features vinyl plank flooring throughout the main living areas and bedrooms, along with 10 ft ceilings.
The property is listed for sale at 505-A Suwannee Drive in Watersound, within Walton County, Florida, under a Resid Single Family zoning designation.
The community is described as part of Watersound Origins, with access to amenities including the Origins Golf Course, a resort-style pool at Village Commons, and sports courts.
The property is listed for sale at 505-A Suwannee Drive in Watersound, within Walton County, Florida, under a Resid Single Family zoning designation.
The community is described as part of Watersound Origins, with access to amenities including the Origins Golf Course, a resort-style pool at Village Commons, and sports courts.
Key Highlights
- Under construction paired villas (attached single‑family homes) with estimated completion year 2026
- Kitchen features a kitchen island and pantry
- Includes gas stove/oven plus refrigerator, dishwasher, and microwave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,036
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,720
$320.7K
Cap Rate 7%
$229,086
$229.1K
Cap Rate 9%
$178,178
$178.2K
Market Conditions
NOI Build-Up for 1,448 SF
Gross rent
$34.8K $24.00/SF
− Vacancy
−$5.6K −$3.86/SF
EGI
$29.2K $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 Rate 5%
$320,720
Cap Rate 7%
$229,086
Cap Rate 9%
$178,178
Alternative Uses
Best Use
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,036 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.2K
$318.6K – $424.9K
NOI $25,491 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Single family property - Paired attached single-family villas with vinyl plank flooring and managed exterior maintenance services.
Where is this single family property located?
The property is located at 505-A Suwannee Drive Watersound, FL.
What is the asking price?
The asking price for this property is $542,037.
What are key features of this property?
This property features: Under construction paired villas (attached single‑family homes) with estimated completion year 2026; Kitchen features a kitchen island and pantry; Includes gas stove/oven plus refrigerator, dishwasher, and microwave
