Pueblo

157 Monahan Drive

Fort Walton Beach, FL 32547

MLS#: 1002197

$1,159,900

Status: Active

Listing number: 1002197

Listing provided by: LoKation

Listing agent phone: None

Last update: 23 days ago

On site: 2 months ago

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Property

Beds

Full Baths

1/2 Baths

None

Year Built

1969

Sq.Footage

3,205

Rare 98 ft of waterfront property with a 2 story dock, boat lift w/ electric & water, and multiple private lockout suites. It's flexible layout offers multiple possibilities. Perfect for a full-time coastal retreat, secondary home, Airbnb or multi generational property. No HOA and short term rental is allowed. Currently operating as a thriving turnkey waterfront rental property with proven success at its start in 2024 and going strong to the present. Enjoy stunning views, beautiful sunsets, expansive outdoor living space, a large balcony, and direct water access. OTHER FEATURES: LIGHT & BRIGHT GREAT ROOM, GRANITE COUNTER TOPS, LARGE KITCHEN ISLAND, COMMERCIAL REFRIGERATOR, 2 LAUNDRY AREAS, GAME ROOM, 3 LOCK OUT SUITES W/ KITCHENETTES, AMPLE PARKING, WHOLE HOME GENERATOR, 2 STORAGE SHEDS, 2020 AC UNIT, FLOOD GATES, EFFECTIVE YEAR BUILT 2000 2024 GROSS $160, 902 2025 GROSS $145, 328

Features & Amenities

Interior

Other Interior Features

In-Law Floorplan, Kitchen Island
Total Bedrooms

7
Bathrooms

6
Cooling YN

YES
Cooling

Ceiling Fan(s)
Pet friendly

N/A

Exterior

Garage

No
Other Exterior Features

Balcony, Boat Slip, Dock, Rain Gutters
Patio and Porch Features

Patio
Pool

No
Waterfront YN

YES

Area & Lot

Lot Features

Waterfront
Property Type

Residential
Property Sub Type

Single Family Residence
Architectural Style

Pueblo

Price

Sales Price

$1,159,900
Zoning

Resid Multi-Family
Sq. Footage

3,205
Price/SqFt

$361

HOA

Association

No

School District

Elementary School

Wright
Middle School

Pryor
High School

Choctawhatchee

Property Features

New Construction

NO
Sewer

Public Sewer
Water Source

Public

Schedule a Showing

Showing scheduled successfully.

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Location

County

Okaloosa

Elementary School

Wright

Middle School

Pryor

High School

Choctawhatchee

Listing Courtesy of Diana M Wonch , LoKation

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Rare 98 ft of waterfront property with a 2 story dock, boat lift w/ electric & water, and multiple private lockout suites. It's flexible layout offers multiple possibilities. Perfect for a full-time coastal retreat, secondary home, Airbnb or multi generational property. No HOA and short term rental is allowed. Currently operating as a thriving turnkey waterfront rental property with proven success at its start in 2024 and going strong to the present.
Enjoy stunning views, beautiful sunsets, expansive outdoor living space, a large balcony, and direct water access.
OTHER FEATURES:
LIGHT & BRIGHT GREAT ROOM, GRANITE COUNTER TOPS, LARGE KITCHEN ISLAND, COMMERCIAL REFRIGERATOR, 2 LAUNDRY AREAS, GAME ROOM, 3 LOCK OUT SUITES W/ KITCHENETTES, AMPLE PARKING, WHOLE HOME GENERATOR, 2 STORAGE SHEDS, 2020 AC UNIT, FLOOD GATES, EFFECTIVE YEAR BUILT 2000

2024 GROSS $160, 902
2025 GROSS $145, 328

157 Monahan Drive

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Only four units in the building share this exact floor plan. Here is where this listing sits against the others:

Unit Status Price $/SF Notes

307 Sold $1,000,000 $660.94 Closed Jan 2026, 101 DOM

610 Sold $1,075,000 $710.51 Closed Jan 2026, 53 DOM

113 Active $1,095,000 $723.73 Priced above subject

305 Active $1,100,000 $727.03 Priced above subject

414 (subject) Active $1,070,000 $707.20 Below actives and last closed sale

CLOSED SALES (this floor plan): - Unit 307 -- sold $1,000,000 ($660.94/SF) -- closed January 2026, 101 days on market - Unit 610 -- sold $1,075,000 ($710.51/SF) -- closed January 2026, 53 days on market

ACTIVE LISTINGS (this floor plan): - Unit 113 -- listed $1,095,000 ($723.73/SF) - Unit 305 -- listed $1,100,000 ($727.03/SF) - Unit 414 (this listing) -- listed $1,070,000 ($707.20/SF)

This listing is priced below both active competitors on the identical floor plan, and below the most recent closed sale of this exact layout -- Unit 610, which sold for $1,075,000. In plain terms: a buyer purchasing this unit at ask is paying less than what the last verified buyer in this building paid for the same square footage, same bedroom count, same view line.

MARKET TIMING CONTEXT: Both recent Azure sales on this floor plan went under contract within days of each other in December 2025 -- a pattern consistent with holiday-season visitors converting into buyers. Showing volume in Azure and the surrounding Gulf-front buildings slows through the peak rental season (spring and summer), then picks back up as the building empties out heading into fall. Consistent with that pattern, another Azure residence went under contract this month (July 2026) after a longer stretch on the market -- an early signal that buyer activity in the building is returning as the summer rental season winds down.

RENTAL INCOME HISTORY (verified actuals, four years): - 2023: $70,000 - 2024: $75,000 - 2025: $60,000 (property management transition year) - 2026: year-to-date through July 1, plus July and August currently on the books

A full cost-to-own analysis with cap rate detail is available on request -- built entirely on these actuals, not third-party rental estimates.

FEATURES: Private owner's closet inside the unit; dedicated storage room down the hall; primary suite with garden tub, walk-in closet, and private balcony access; recently updated living room seating. 4K Matterport virtual tour and floor plan available.

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1150 Santa Rosa Boulevard 414

3 Beds

3 Baths

1,513 Sq.Ft.

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MLS#: 998315

Pueblo

Features & Amenities

Interior

Exterior

Area & Lot

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HOA

School District

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Listing Courtesy of Diana M Wonch , LoKation

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