1621 Smugglers Cove Cir
More Than Just a Property
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Nearby Schools
Educational options and performance ratings in the area.
West Navarre Intermediate School
Woodlawn Beach Middle School
Navarre High School
Property Overview
A stunning investment opportunity in a prime location. This property features modern amenities, spacious living areas, and strong rental potential.
Features & Amenities
Haven AI Verdict
Data provided by Haven AI. Disclaimer
Haven AI
This Gulf Breeze property presents a strong core-plus investment opportunity. A monthly cash flow of $811.14 is exceptionally robust for a $650,000 single-family residence, providing a significant buffer against vacancy and unexpected repairs. The 7.56% gross yield is above average for this submarket, though a conservative analysis must account for Florida's volatile property insurance landscape and high ad valorem taxes, which will likely compress the net cap rate to the 4.8-5.2% range. The positive cash flow supports a healthy debt-service coverage ratio, making it a sustainable long-term hold in a high-demand coastal community with steady 4% projected appreciation.
- • Strong monthly cash flow of $811.14 provides immediate ROI and risk mitigation
- • High-demand location in Gulf Breeze known for top-tier school districts
- • Generous 4-bed/3-bath configuration maximizes appeal for premium family renters
- • 7.56% gross rental yield outperforms many comparable coastal Florida markets
- • Rising property insurance premiums in coastal Florida may erode net margins
- • Significant capital entry point at $650,000 limits liquidity
- • Potential for high maintenance costs associated with salt-air exposure and humidity
- • Reliance on 4% appreciation assumes continued migration trends remain stable
10-Year Price Projection
Price & Tax History
Price History
| Date | Event | Price | Price/sqft |
|---|---|---|---|
| 2026-05-29 | Sold | $650,000 | $279 |
| 2026-05-27 | Pending sale | $650,000 | $279 |
| 2026-04-20 | Contingent | $650,000 | $279 |
| 2026-04-13 | Listed for sale | $650,000 | $279 |
| 2021-03-24 | Listing removed | $0 | – |
| 2019-08-02 | Sold | $483,000 | $207 |
| 2019-06-08 | Listed for sale | $499,900 | $214 |
| 2019-06-03 | Pending sale | $499,900 | $214 |
| 2019-05-19 | Listed for sale | $499,900 | $214 |
| 2018-05-25 | Sold | $439,000 | $188 |
| 2018-03-15 | Listed for sale | $419,900 | $180 |
| 2003-06-09 | Sold | $44,500 | $19 |
| 1999-12-23 | Sold | $35,000 | $15 |
Tax History
| Year | Property Tax | Tax Assessment |
|---|---|---|
| 2025 | $4,451.85 | $379,204 |
| 2024 | $4,521.76 | $362,443 |
| 2023 | $4,376.59 | $351,886 |
| 2022 | $4,269.51 | $341,637 |
| 2021 | $4,206.83 | $331,686 |
| 2020 | $4,135.06 | $327,107 |
| 2019 | $4,305.62 | $298,607 |
| 2018 | $4,305.62 | $239,137 |
| 2017 | $2,875.08 | $234,218 |
| 2016 | $2,875.08 | $229,401 |
| 2015 | $2,830.06 | $227,806 |
| 2014 | $2,862.27 | $225,998 |
| 2013 | $0 | $222,658 |
| 2012 | $0 | $219,779 |
| 2011 | $0 | $224,711 |
| 2010 | $0 | $227,443 |
| 2009 | $0 | $256,953 |
| 2008 | $0 | $287,595 |
Investment Numbers & Operating Model
Standardized cash flow underwriting modeled with state tax schedules, regional insurance hazard risk, and disciplined operating reserves.
Multi-factor yield grade
NOI: $23,359/yr
On $149,500 invested
Negative debt coverage
Equity + cumulative cash
Monthly Cash Flow Breakdown
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