4000 Gulf Terrace Dr Unit 112 Destin, FL 32541
Estimated payment $2,152/month
Total Views
11,541
2
Beds
1
Bath
982
Sq Ft
$244
Price per Sq Ft
Highlights
- Waterfront Community
- In Ground Pool
- Covered patio or porch
- Destin Elementary School Rated A-
- Gated Community
- Walk-In Pantry
About This Home
Prime Investment Opportunity: Destin 2BR 1BA Condominium. This first-floor condominium presents a fantastic investment opportunity with NO RENTAL RESTRICTIONS, allowing for flexible income potential. Though it requires upgrades, this unit promises great returns in the sought-after Destin market. It is part of the most affordable complex to own in Destin. All offers are welcome! No Flood Zone!
Community Features: gated entrances from HWY 98 and Airport Rd,
Access to 3 swimming pools, including one heated, Tennis/pickleball court, EV and a clubhouse for owners.
HOA Coverage: The monthly fee covers building insurance and exterior maintenance, water, internet, sewer, trash, landscaping, and maintenance of pools and gates, ensuring low maintenance for the homeowner. See More Section Seller's Motivations and Additional Property Features:
The seller is motivated and willing to assist with closing costs, making this an even more attractive opportunity. Never having occupied the property, the seller has consistently rented it long-term, evidencing its strong rental potential.
The complex offers convenient boat parking exclusively for owners at a minimal monthly fee, catering to those who love boating adventures. Additionally, the on-site laundry facility is undergoing a remodel to enhance its modern look and efficiency.
Located just 0.7 miles from public beach access, this property positions residents right across the street from the Gulf of America. This condominium is in close proximity to popular attractions such as the Morgan Sportsplex, The Track, Big Kahuna Waterpark, and the Sun Destin Hotel featuring the PhatFish Restaurant. These nearby destinations add significant appeal for both residents and potential renters. Within the complex, you'll find Quail Lake, a recently stocked catch-and-release natural aquifer, perfect for leisurely fishing and relaxation.
Listing Agent
Waves of the Emerald Coast Realty LLC License #3475596 Listed on: 03/22/2025
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $2,552
Year Built
- Built in 1973
Lot Details
- Sprinkler System
HOA Fees
- $625 Monthly HOA Fees
Home Design
- Flat Roof Shape
- Frame Construction
- Metal Roof
- Vinyl Siding
Interior Spaces
- 982 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Living Room
Kitchen
- Breakfast Bar
- Walk-In Pantry
- Electric Oven or Range
- Microwave
- Dishwasher
Flooring
- Wall to Wall Carpet
- Tile
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Full Bathroom
Outdoor Features
- Covered patio or porch
- Built-In Barbecue
Schools
- Destin Elementary And Middle School
- Destin High School
Utilities
- Central Heating and Cooling System
- Electric Water Heater
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 00-2S-22-1095-0112-0000
Community Details
Overview
- Association fees include ground keeping, insurance, internet service, management, utilities, sewer, water, trash
- 8 Buildings
- 8 Units
- Gulf Terrace Condo Subdivision
Amenities
- Community Barbecue Grill
- Community Pavilion
- Recreation Room
- Laundry Facilities
Recreation
- Waterfront Community
- Tennis Courts
- Community Pool
Pet Policy
- Pets Allowed
Security
- Gated Community
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,552 | $230,000 | -- | $230,000 |
| 2023 | $2,552 | $245,000 | $0 | $245,000 |
| 2022 | $2,049 | $170,000 | $0 | $170,000 |
| 2021 | $1,295 | $110,000 | $0 | $110,000 |
| 2020 | $1,126 | $90,000 | $0 | $90,000 |
| 2019 | $1,062 | $85,000 | $0 | $85,000 |
| 2018 | $963 | $75,000 | $0 | $0 |
| 2017 | $941 | $72,000 | $0 | $0 |
| 2016 | $905 | $70,000 | $0 | $0 |
| 2015 | $835 | $63,000 | $0 | $0 |
| 2014 | $791 | $59,000 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/22/2025 03/22/25 | For Sale | $240,000 | 0.0% | $244 / Sq Ft |
| 03/05/2025 03/05/25 | Off Market | $240,000 | -- | -- |
| 03/03/2025 03/03/25 | For Sale | $240,000 | 0.0% | $244 / Sq Ft |
| 03/02/2025 03/02/25 | Pending | -- | -- | -- |
| 02/28/2025 02/28/25 | Price Changed | $240,000 | -2.0% | $244 / Sq Ft |
| 02/18/2025 02/18/25 | For Sale | $245,000 | +36.9% | $249 / Sq Ft |
| 09/17/2021 09/17/21 | Sold | $179,000 | 0.0% | $208 / Sq Ft |
| 09/03/2021 09/03/21 | Pending | -- | -- | -- |
| 09/03/2021 09/03/21 | For Sale | $179,000 | -- | $208 / Sq Ft |
Source: Emerald Coast Association of REALTORS®
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $179,000 | Nautilus Title & Escrow | |
| Warranty Deed | $65,000 | Security First Title Partner |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $52,000 | No Value Available |
Source: Public Records
Similar Homes in Destin, FL
Source: Emerald Coast Association of REALTORS®
MLS Number: 968843
APN: 00-2S-22-1095-0112-0000
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