Discover an unparalleled opportunity to build your dream home in the prestigious Park District of Watercolor, Phase V. Lot 37 is a premier homesite, ideally situated at the end of a quiet cul-de-sac on String Lily Cove. This exceptional property offers privacy and tranquility, with a greenbelt behind it and a 20-ft-wide greenway easement between it and the adjacent lot to the right. A completed home on the left further enhances the setting. This shovel-ready lot comes with fully approved and entitled architectural plans designed by Chris Stoyles of Archiscapes, along with all necessary Walton County permits, allowing you to break ground immediately. The current plans feature a stunning 5-bedroom, 7-bathroom home spanning 5,270 sqft of heated/cooled space, plus over 1,300 sqft of covered balconies and porches. The design includes a private pool, a summer kitchen, and an outdoor living area complete with a fire pitensuring the ultimate indoor-outdoor coastal lifestyle.
Phase V is Watercolor's final and only short-term rental-restricted phase, ensuring a peaceful residential atmosphere. Residents also have access to an exclusive community pool available only to the owners of the 41 homesites within the phase.
As a Watercolor homeowner, you'll enjoy exclusive access to world-class amenities, including the Watercolor Beach Club, featuring three Gulf-front pools, cabanas, a tiki bar, and dining options. Camp Watercolor offers a family-friendly water park with slides, a lazy river, and a casual dining area. Outdoor enthusiasts will appreciate direct access to Western Lake for kayaking and paddle boarding. The community's extensive trail system, lush parks, and beautifully landscaped common areas provide endless opportunities for recreation and relaxation.
This is a rare opportunity to secure one of the most desirable homesites in 30A's largest master-planned community. Don't miss your chance to own a piece of paradise in Watercolor.
For more details or to schedule a site visit, contact us today.
Lot/land
$1,299,000
72 String Lily Cv, Santa Rosa Beach, FL 32459
--beds
0baths
5,662.8Square Feet
Unimproved Land
Built in ----
5,662.8 Square Feet Lot
$-- Zestimate®
$--/sqft
$503/mo HOA
What's special
- 223 days |
- 88 |
- 1 |
Zillow last checked: 8 hours ago
Listing updated: March 01, 2026 at 07:46am
Listed by:
Spears Group 850-710-2114,
Compass
Source: ECAOR,MLS#: 981605
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Property
Lot
- Size: 5,662.8 Square Feet
- Dimensions: 31 x 121 x 67 x 79
- Features: Cleared, Cul-De-Sac, Within 1/2 Mile to Water
Details
- Parcel number: 143S19254050000370
- Zoning description: Resid Single Family
Utilities & green energy
- Water: Public
Community & HOA
Community
- Features: Beach, Short Term Rental - Not Allowed
- Subdivision: WATERCOLOR
HOA
- Has HOA: Yes
- Services included: Maintenance Grounds, Security, Cable TV
- HOA fee: $1,510 quarterly
Location
- Region: Santa Rosa Beach
Financial & listing details
- Tax assessed value: $969,000
- Annual tax amount: $8,851
- Date on market: 3/1/2026
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 7/24/2025 | Price change | $1,299,000-16.2% |
Source: | ||
| 2/28/2025 | Listed for sale | $1,550,000 |
Source: | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $8,851 -3.6% | $969,000 +3.3% |
| 2023 | $9,179 +16.2% | $937,728 +10% |
| 2022 | $7,900 +2210.1% | $852,480 +2312.8% |
| 2021 | $342 | $35,331 |
Find assessor info on the county website
BuyAbility℠ payment
Estimated monthly payment
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Neighborhood: 32459
Nearby schools
GreatSchools rating
- 10/10Bay Elementary SchoolGrades: K-5Distance: 3.5 mi
- 8/10Emerald Coast Middle SchoolGrades: 6-8Distance: 2.3 mi
- 8/10South Walton High SchoolGrades: 9-12Distance: 4.7 mi
Schools provided by the listing agent
- Elementary: Dune Lakes
- Middle: Emerald Coast
- High: South Walton
Source: ECAOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 32459
- Florida
- Walton County
- Santa Rosa Beach
- 32459
- 72 String Lily Cv
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