Florida mansion sells for millions as the highest-priced sale ever in this swanky neighborhood
Record $8.5M Florida Sale: Bubble or Boom?
A beachfront mansion in Santa Rosa Beach, Florida, recently sold for $8.55 million, setting a record for the highest-priced sale in the area. This 4,000-square-foot home features five bedrooms, six bathrooms, and has been fully renovated to offer modern comforts and "coastal elegance." The property includes two full-sized kitchens, a private media room, and access to exclusive community amenities like a private beach and recreational facilities.
How does the sale price of the Santa Rosa Beach mansion compare to the average home price along the 30A highway?
The sale price of the Santa Rosa Beach mansion, which was $8.55 million, significantly exceeds the average home price along the 30A highway. According to the article, a typical home along this stretch costs about $640,000. This stark contrast highlights the mansion's premium status and unique features, contributing to its record-breaking price in the area. The mansion's sale price is more than 13 times higher than the average home price on the 30A highway, underscoring its luxury and exclusive appeal in the market.
What is the potential rental income for a typical home along the 30A highway, and what is the expected cap rate?
The potential rental income for a typical home along the 30A highway is around $55,000 annually. The expected cap rate is 4.6%.