Five waterfront properties. Twelve months. One conclusion — and it isn't a close call.
Waterfront isn't priced by the square foot of house — it's priced by the foot of water. On the metric that actually drives value here, this property is the cheapest waterfront in Freeport with a private dock and lift.
The lowest of any comp with a dock and lift. Two comps sold for more than $11,800 per foot.
More water than four of the five comps — and it's open, south-facing bay, not bayou.
The recent sold set averaged $519. This is 15% under the market it sits in.
Adjusted indications cluster between $1,094,000 and $1,129,500 — all above the ask.
Detached single-family waterfront in Freeport, south of Highway 20 to 331, sold or pending in the last twelve months. That filter returns five properties — and all five are here, including the one that argues against us.
| Property | Price | SqFt | $/SqFt | WF Ft | $/WF Ft | Acres | Built | Dock |
|---|---|---|---|---|---|---|---|---|
| This property 4658 County Hwy 83A W | $1,000,000 | 2,269 | $441 | 130 | $7,692 | 0.90 | 1968 | 120 ft + lift |
| 315 Red Barn Road↗ | $1,200,000 | 1,631 | $736 | 100 | $12,000 | 0.67 | 2021 | Yes + lift |
| 24 Waterview Place↗ | $1,125,000 | 2,446 | $460 | 75 | $15,000 | 0.25 | 1991 | 108 ft |
| 4560 W Co Hwy 83A↗ | $1,075,000 | 2,212 | $486 | 165 | $6,515 | 1.32 | 1996 | No |
| 969 Bay Harbour Blvd↗ | $950,000 | 2,420 | $393 | 80 | $11,875 | 0.41 | 2003 | Yes |
| 10 S Sunset Harbour↗ | $790,000 | 2,004 | $394 | 80.68 | $9,792 | 0.43 | 2020 | No |
| Sold-set average | $1,047,500 | 2,073 | $519 | — | — | — | — | — |
← Swipe the table to see all columns →
On the water, frontage is the scarce asset — you can renovate a kitchen, but you can't manufacture another foot of shoreline. Here's what the market paid per foot, lowest to highest.
Only one property in the set costs less per foot of water — and it doesn't have a dock. It also sold in zero days on market, meaning it never saw open exposure or competing offers. Every property here that has a private dock and lift traded above $11,800 per waterfront foot. This one is offered at $7,692.
The high-water mark, and the most useful comp in the set. A finished 2021 build — but on 100 feet of water, a third less land, and 638 fewer square feet. It listed at $1,475,000 and took a $275,000 cut to sell.
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Proof the market pays over $1.1M here. But it's 75 feet of bayou on a quarter acre — a fundamentally different product from open, south-facing bay, at nearly double the price per foot.
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The closest comp there is — a brick home on this same road. It sold for $1,075,000 with no dock at all, which is the single clearest evidence the market pays seven figures for this exact profile. Sold in 0 days, so it never saw open exposure.
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Under contract in six days — the clearest read on live demand in this market right now. Buyers moved fast on 80 feet of water at nearly $11,900 per foot. This property offers 50 more feet for less per foot.
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The weakest indication, and the least similar property here — no dock, an HOA, and an interior-facing lot. It needed 326 days and a price reduction to clear. Included for completeness; weighted least.
View listing ↗No two properties are identical, so each comp is adjusted for what it has more or less of — water frontage, land, living area, dock package, outbuildings, and condition. What's left is what each sale says this property is worth.
Four of the five indications land between $1,094,000 and $1,129,500 — a tight cluster, which is what you want to see when the data is telling the truth. Every one of them sits above the asking price. The lone outlier below is the property with no dock, an HOA, and 326 days on market.
The obvious objection: the house is dated. Fair. So let's price that in at the top of the range — roughly $200,000 to bring it to a fully modern standard — and compare the finished result against the best sale in the set.
Same money. 30 more feet of water, a third more land, 638 more square feet of house, a longer dock, and three outbuildings. And with a renovation, you choose the finishes instead of inheriting someone else's. That's the whole argument in one line.
130 feet of open, south-facing Choctawhatchee Bay — more frontage than four of the five comps. One comp sold at $1,125,000 on 75 feet of bayou; another is pending at $950,000 on 80 feet. Not all waterfront is the same product, and open bay sits at the top of that hierarchy.
A 120-foot dock running to a boat lift, with fish-cleaning station, shower, and power, represents roughly $175,000–$250,000 to build today — and permitting timelines on the north shore mean it isn't something a buyer can simply add later. The two comps without docks are the two weakest performers per waterfront foot in the set.
Shoreline protection is a requirement at this price point, not a luxury — and replacing it is a five-figure project. Most of the comps carry bulkhead or seawall. This property has vinyl seawall and rip rap already in place.
At 0.90 acres this is the second-largest parcel in the set, with a detached 2-car garage, carport, and a separate storage building and workshop. Only one comp offers more land — and it offers none of these structures.
No HOA and no assessment, with 2025 taxes of $800.90. Two comps in the set carry a $600 annual assessment plus taxes of $5,823 and $6,737. For a buyer running the monthly numbers, that difference compounds every year of ownership.
Every property has them. Here are this one's, with the data rather than a deflection.
The house needs a full renovation.
True, and it's already priced in. The adjustment grid carries the condition gap at roughly $200,000 — it is not deducted twice. All in at $1,200,000, this property still out-measures the $1,200,000 comp on water, land, size, dock and outbuildings.
Flood insurance runs about $3,000 a year.
Real, and disclosed up front. It's a carrying cost, not a value destroyer — and it's partly offset by a tax bill of $800.90 against comps paying $5,823 and $6,737 with an HOA assessment on top.
Only two bathrooms.
A legitimate functional limitation. It's also one of the highest-return line items inside the renovation budget — and the floor plan, with a 26×26 family room and vaulted ceilings, gives you room to solve it.
It was built in 1968.
All brick, vaulted ceilings, brick fireplace, windows on three sides of the family room. The bones are exactly why the renovation math works. A comparable brick home on this same road established that the market pays over $1,000,000 for this profile — with no dock at all.
Verify all of it. Every comparable below links straight to its MLS record — open them and check the numbers yourself.
Condition adjustments reflect the full renovation gap, so the update budget is already inside these numbers and is not deducted twice.
Residential CMA prepared by Todd Siegrist, Dalton Wade Inc., 07/18/2026. Search: detached single-family waterfront, Freeport, Sub Area 2005 (S. of 20 to Hwy 331), sold or under contract within 365 days.
The adjusted comparables support $1,050,000 to $1,125,000, clustering tightest between $1,094,000 and $1,129,500. It's offered at $1,000,000 — below the indicated range, on the strongest metric in waterfront valuation, with the dock, lift, seawall, acreage and outbuildings inside that number rather than on top of it.
The seller is also open to favorable terms and will consider any serious offer backed by considerable cash — flexibility none of these comps offered.
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