$898,000
$97K PRICE DROP

510 NW 8th St Unit 1,2,3,4 Carrabelle, FL 32322

Estimated payment $5,617/month

Total Views 5,413
8 Beds
8 Baths
4,672 Sq Ft
$192 Price per Sq Ft

Highlights

  • Newly Painted Property
  • No HOA
  • Eat-In Kitchen
  • Furnished
  • Covered Patio or Porch
  • Double Pane Windows

About This Home

Big Price Reduction! Presenting Rivers Rae, a premium four-unit investment property offering unparalleled potential for both long-term stability and high-income short-term rental returns. Nestled in the quiet, scenic town of Carrabelle on Florida's Forgotten Coast, this completely renovated four-unit townhome building is perfect for savvy investors. With modern upgrades, high rental income potential, and a location that appeals to beach lovers, outdoor enthusiasts, and vacationers, Rivers Rae is an exceptional opportunity for growth. Renovations: all new electric, plumbing, windows, exterior and interior doors, lighting, water heaters, bathrooms, luxury vinyl plank flooring. Newly configured Eat-in-Kitchen with breakfast bar, appliance packages that include dishwasher, stove, microwave and refrigerators with solid surface countertops over clean white cabinetry. Crown molding, recessed lighting, neutral tones, and tall vanities add sophistication and comfort. Inviting backyards with covered patio and privacy fencing. All units are fully furnished and turnkey ready for short term or long-term rentals. 2025 bookings at $96,500. Schedule a tour today!

Listing Agent

Beth Embert

Coastal Realty Group-Carrabelle Brokerage Phone: 8506971010 License #3366394 Listed on: 02/04/2025

Co-Listing Agent

Morgen Helmlinger

Coastal Realty Group-Carrabelle Brokerage Phone: 8506971010 License #3624481

Townhouse Details

Home Type

  • Townhome

Year Built

  • Built in 1981 | Remodeled

Lot Details

  • Lot Dimensions are 100 x 109
  • Privacy Fence
  • Back Yard Fenced

Parking

  • 8 Parking Spaces

Home Design

  • Newly Painted Property
  • Slab Foundation
  • Shingle Roof

Interior Spaces

  • 4,672 Sq Ft Home
  • 2-Story Property
  • Furnished
  • Woodwork
  • Crown Molding
  • Ceiling Fan
  • Recessed Lighting
  • Double Pane Windows
  • Insulated Windows
  • Blinds
  • Family Room

Kitchen

  • Eat-In Kitchen
  • Breakfast Bar
  • Electric Oven
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Central Heating and Cooling System
  • Heat Pump System
  • Electric Water Heater
  • Internet Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 2007S04W42300E130060

Community Details

Overview

  • No Home Owners Association
  • Rivers Rae Community
  • Picketts Add Subdivision

Building Details

  • Gross Income $75,212

Townhouse Details

Home Type

Townhome

Year Built

Built in 1981 | Remodeled

Lot Details

0

Listing Details

  • Directions: Hwy 98 Carrabelle turn north on W 8th St. Proceed 4 blocks. Property on Right
  • Inclusions: Everything as seen
  • Prop. Type: Residential
  • Building Stories: 2
  • Property Sub Type: Quadruplex,Townhouse,Dup/Tri/Quad (Multi-Unit)
  • Lot Size Acres: 0.2502
  • Lot Size: 100 x 109
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Co List Office Mls Id: 306
  • Co List Office Phone: 850-697-1010
  • Subdivision Name: Picketts Add
  • Building Name: Rivers Rae
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: 2
  • Property Attached Yn: Yes
  • Structure Type: Fourplex, Townhouse
  • Year Built: 1981
  • NAV22_ResortRentalYN: No
  • NAV22_Room3Name: Family Room
  • NAV22_Room7Name: Additional Bedroom
  • NAV22_BuildersWarrantyYN: No
  • NAV22_Room1Name: Eat In Kitchen
  • NAV22_Room5Name: Master Bedroom
  • NAV22_Room9Name: Laundry
  • Special Features: None
  • Stories: 2

Interior Features

  • Appliances: Dryer, Washer, Dishwasher, Disposal, Microwave, Refrigerator w/Ice Maker, Electric Oven, Electric Water Heater
  • Furnished: Furnished
  • Interior Amenities: Breakfast Bar, Crown Molding, Recessed Lighting, Newly Painted, Renovated, See Remarks, Woodwork Painted
  • Full Bathrooms: 4
  • Half Bathrooms: 4
  • Total Bedrooms: 8
  • Fireplace: No
  • Flooring: Luxury Vinyl, Plank
  • Living Area: 4672
  • Window Features: Window Treatments, Double Pane Windows, Insulated Windows
  • Master Bedroom Features: Blinds

Exterior Features

  • Exterior Features: Renovated
  • Lot Features: Level, Within 1/2 Mile of Water
  • Roof: See Remarks, Shingle
  • Fencing: Back Yard, Privacy
  • Pool Features: None
  • Pool Private: No
  • Waterfront: No
  • Construction Type: Block, Concrete
  • Foundation Details: Slab, On Grade
  • Patio And Porch Features: Covered Patio, Covered Porch, Front Porch
  • Property Condition: Renovated, Construction Complete

Garage/Parking

  • Attached Garage: No
  • Parking Features: Space/Unit
  • Total Parking Spaces: 8

Utilities

  • Cooling: Central Electric, Heat Pump, Ceiling Fan(s)
  • Heating: Central Electric, Heat Pump
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Internet Available, Sewer Connected, Water Connected, Private Trash
  • Laundry Features: Washer/Dryer Hookup
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Lot Info

  • Zoning: R-2
  • Lot Size Sq Ft: 10900
  • Additional Parcels: No
  • Parcel #: 2007S04W42300E130060
  • Zoning Description: City,Residential Multi-Family

Rental Info

  • Lease Term: 0-6 Months,Short Term Lease

Multi Family

  • Annual Gross Income: 75212

Map

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/14/2025 12/14/25 Price Changed $898,000 -6.9% $192 / Sq Ft
10/06/2025 10/06/25 Price Changed $965,000 -3.0% $207 / Sq Ft
02/04/2025 02/04/25 For Sale $995,000 -- $213 / Sq Ft
Source: Forgotten Coast REALTOR® Association

Source: Forgotten Coast REALTOR® Association

MLS Number: 320794

Forgotten Coast REALTOR® Association
Florida Franklin County Carrabelle 32322

510 NW 8th St Unit 1,2,3,4, Carrabelle, FL

For Sale

Townhouses

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Forgotten Coast REALTOR® Association Property information provided by the FCRA MLS – a service of the Forgotten Coast REALTOR® Association.

IDX information is provided exclusively for consumers’ personal, non-commercial use, and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS.

Nearby Homes
Beth Embert
Listing Agent
Beth Embert
Section Image
Coastal Realty Group-Carrabelle
(850) 679-8814