Paired Patio Duplex with Covered
For Sale
$520,077
Pending
60-A Skimmer Cove Loop, Watersound, FL 32461
MULTI_FAMILY - Other - Watersound, FL
Property Size1,442 SF
Days on Market16
Property Features for 60-A Skimmer Cove Loop
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
Resid Single Family
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Family Room, Bedroom 2, Bedroom 3, 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, Microwave, Refrigerator, Security System, Smoke Detector, Stove/Oven Electric, 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-18-16160-000-0320
Size
1,442 SF
Taxes and HOA fees
Tax Description
LOT 32 THE VILLAS AT LONGLEAF PARK PB 26-93
HOA Fee
$924 Quarterly
Legal Description
LOT 32 THE VILLAS AT LONGLEAF PARK PB 26-93
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2027
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 24
Changed: Aug 5
Last Checked: Aug 8 at 6:06PM
MLS# 1009035
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 under-construction paired patio duplex in the Villas at Longleaf Park features 1,442 square feet with two bedrooms and 2.5 bathrooms, plus a 1.5-car garage. The covered front porch opens into an open kitchen, dining, and family room plan with 10-foot ceilings and 8-foot interior doors. The family room extends to a covered rear patio for indoor-outdoor living.
The kitchen includes upgraded cabinetry, Level 2 quartz countertops, plank flooring throughout, a walk-in pantry, ceramic tile backsplash, and a GE appliance package with built-in appliances and a 5-burner gas cooktop. Additional features include impact-rated windows, a tankless water heater, and a gas grill rough-in, along with craftsman-style trim and 5 3/4' baseboards.
For added privacy, each residence is separated by a structurally independent 2-hour fire separation wall. The listing also notes lawn maintenance included, with public sewer service and central heating and central air.
The kitchen includes upgraded cabinetry, Level 2 quartz countertops, plank flooring throughout, a walk-in pantry, ceramic tile backsplash, and a GE appliance package with built-in appliances and a 5-burner gas cooktop. Additional features include impact-rated windows, a tankless water heater, and a gas grill rough-in, along with craftsman-style trim and 5 3/4' baseboards.
For added privacy, each residence is separated by a structurally independent 2-hour fire separation wall. The listing also notes lawn maintenance included, with public sewer service and central heating and central air.
Key Highlights
- 1,442 SF paired patio duplex under construction, built in 2027
- Two bedrooms with 2.5 bathrooms and a 1.5‑car garage
- Open kitchen, dining, and family room with 10‑foot ceilings and 8‑foot interior doors
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
$17,443
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
3.35%
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%
$348,860
$348.9K
Cap Rate 7%
$249,186
$249.2K
Cap Rate 9%
$193,811
$193.8K
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
$29.4K $20.40/SF
− Vacancy
−$4.5K −$3.12/SF
EGI
$24.9K $17.28/SF
− OpEx
−$7.5K −$5.18/SF
NOI
$17.4K $12.10/SF
Area
Walton County, FL
Vacancy
15.29%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
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%
$348,860
Cap Rate 7%
$249,186
Cap Rate 9%
$193,811
Alternative Uses
Best Use
Multifamily LT 5
$249.2K
$218.0K – $290.7K
NOI $17,443 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$228.1K
$199.6K – $266.2K
NOI $15,970 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$362.6K
$317.3K – $423.1K
NOI $25,385 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,679
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Under construction paired patio duplex with impact-rated windows, central HVAC, and covered front and rear outdoor space
Where is this duplex located?
The property is located at 60-A Skimmer Cove Loop Watersound, FL.
What is the asking price?
The asking price for this property is $520,077.
What are key features of this property?
This property features: 1,442 SF paired patio duplex under construction, built in 2027; Two bedrooms with 2.5 bathrooms and a 1.5‑car garage; Open kitchen, dining, and family room with 10‑foot ceilings and 8‑foot interior doors
