3587 waverly circle, Destin, FL 32541

5 BEDS 4 BATHS
0.1 AC LOT
Residential - Single Family
Image 1
Bedrooms 5
Total Baths 4
Acreage 0.11
Status Off Market
MLS # 993129
County Okaloosa
More Info
Category Residential - Single Family
Status Off Market
Acreage 0.11
MLS # 993129
County Okaloosa
High-performing income property located in the gated community of Destin Pointe, PURPOSE-BUILT FOR SHORT TERM RENTAL SUCCESS. This proven vacation rental has generated $171,229 in 2024, and $162,102 in 2025, with $125,706 already on the books for 2026, providing immediate income for a new owner. The home is intentionally designed for group and multi-family bookings, featuring TWO SEPERATE LIVING SPACES with two full kitchens and no interior stairwell, allowing guests to vacation together while maintaining privacy—an ideal setup for extended families, multi-couple groups, and repeat rental guests. While this layout differs from a traditional single-family floor plan, it has consistently driven strong rental performance and repeat bookings. OUTDOOR AMENITIES include a PRIVATE HEATED IN-GROUND POOL, GARAGE W/ SPACE FOR GOLF CART STORAGE, DEEDED BEACH ACCESS, BEACH FRONT INFINITY POOL, and a seasonal community tram providing convenient access to the beach. Recent improvements include a 2024 metal roof and water heater, 2022 HVAC, and fresh interior and exterior paint, helping reduce near-term capital expenses. The seller is willing to continue professional property management at just 15%, offering a seamless transition for investors seeking a HANDS-OFF OWNERSHIP EXPERIENCE. This is an opportunity for buyers focused on net income, bookings in place, and cash-flow potential, rather than a traditional second-home layout. Ideal for investors or second-home buyers who prioritize revenue generation over cost offset in one of Destin's most established short-term rental communities.

Exterior Features

  • Style Beach House
  • Construction Single Family
  • Exterior Balcony, BBQ Pit/Grill, Fenced Back Yard, Sprinkler System
  • Garage No
  • Garage Description 1
  • Sewer Public Sewer
  • Lot Dimensions 50x100
  • Lot Description Flood Insurance Req, Within 1/2 Mile to Water

Interior Features

  • Appliances Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Refrigerator W/IceMk, Smoke Detector, Stove/Oven Electric, Washer, Water Heater - Elect
  • Heating Central
  • Year Built 2000

Neighborhood & Schools

  • Subdivision DESTIN POINTE
  • Elementary School Destin
  • Middle School Destin
  • High School Destin

Financial Information

  • Parcel ID 00-2S-24-0110-0000-0170
  • Zoning Resid Single Family

Listing Information

Properties displayed may be listed or sold by various participants in the MLS.