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Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 970 sqft
Price per Sqft $309
Subdivision The Palms Of Destin
MLS Listing ID 987354
Bedrooms 2
Full Baths 2
HOA Y/N Yes
Year Built 2007
Annual Tax Amount $3,912
Tax Year 2024
Property Sub-Type Condominium
Source Emerald Coast Association of REALTORS®
Land Area 970
Property Description
Spend mornings with coffee by one of many lagoon-style pools or walk to the shuttle that drops you at the sand. The resort includes a full gym, tennis, pickleball and basketball courts, playground, restaurant, bar, and coffee shop. Inside, the condo feels fresh and inviting with a king master suite, a second bedroom with twin-over-full bunks, updated flooring, and comfortable coastal furnishings. At a purchase price of $300,000, annual expenses (management, HOA, taxes, insurance, and utilities) average around $30,000, leaving about $30,000 in net income. That equals a 10% cap rate and, with standard financing of 20% down ($60,000) at 8% interest, about $9,000 annual cash flow: a 15% cash-on-cash return on day one.
It's the rare mix of lifestyle and numbers that actually make sense. Use it, rent it, or both. This one is clean, proven, and ready to start earning the moment you close.
Location
State FL
County Okaloosa
Community Bbq Pit/Grill, Community Room, Deed Access, Elevators, Exercise Room, Game Room, Handicap Provisions, Pavillion/Gazebo, Picnic Area, Pool, Tv Cable, Whirlpool
Area 14 - Destin
Direction When heading West along Highway 98 toward Henderson Beach State Park, turn Right onto Indian Bayou Trail. The entrance will be on your right. Resort Main Entrance is on Indian Bayou Trail, Unit 1704 is in the East Tower.
Rooms
Primary Bedroom Level Main
Master Bedroom true
Kitchen true
Interior
Heating Central
Cooling Central Air
Furnishings Furnished - All
Appliance Dishwasher, Disposal, Dryer, Freezer, Ice Machine, Microwave, Oven Self Cleaning, Range Hood, Refrigerator, Smoke Detector, Smooth Stovetop Rnge, Stove/Oven Electric, Washer, Water Heater - Elect
Exterior
Pool Pool Type
Community Features BBQ Pit/Grill, Community Room, Deed Access, Elevators, Exercise Room, Game Room, Handicap Provisions, Pavillion/Gazebo, Picnic Area, Pool, TV Cable, Whirlpool
Utilities Available Electric, Public Water, TV Cable
View Harbor, Gulf
Garage No
Building
Faces When heading West along Highway 98 toward Henderson Beach State Park, turn Right onto Indian Bayou Trail. The entrance will be on your right. Resort Main Entrance is on Indian Bayou Trail, Unit 1704 is in the East Tower.
Sewer Public Sewer
New Construction No
Schools
Elementary Schools Destin
Middle Schools Destin
High Schools Destin
Others
Pets Allowed No
HOA Fee Include Ground Keeping,Management,Recreational Faclty
Tax ID 00-2S-22-2311-0000-1704
Miscellaneous Own the beach and let it pay you back! This isn't just a condo, it's a turn-key business that comes with sunshine, palm trees, and a zero-stress dress code. Fully furnished with views of the Gulf and priced WELL BELOW comparable units, this resort unit brought in about $60,000 in gross income in 2022, proving that beach life can be both relaxing and profitable. Spend mornings with coffee by one of many lagoon-style pools or walk to the shuttle that drops you at the sand. The resort includes a full gym, tennis, pickleball and basketball courts, playground, restaurant, bar, and coffee shop. Inside, the condo feels fresh and inviting with a king master suite, a second bedroom with twin-over-full bunks, updated flooring, and comfortable coastal furnishings.
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