265 Western Lake Drive, Santa Rosa Beach, FL 32459 (MLS# 995896)

Description

Imagine owning a WaterColor estate that practically manages itself. This five-bedroom, five-and-a-half-bath corner residence delivers exceptional coastal living with strong rental performance. With $351,366 in 2025 gross revenue and projections of $361,250 in 2026, the property effortlessly balances lifestyle and income potential, making it perfect for savvy investors or families seeking a turn-key beach retreat.

Supplements: Set just steps from the beach club, town center, and Gulf waters, the home offers over 1,200 square feet of wraparound porches, private pool, cabana, and serene lake views, ideal for morning coffee or sunset gatherings. Inside, light-filled living spaces showcase pine hardwood floors, high ceilings, and refined Southern craftsmanship, blending elegance with casual comfort. The chef's kitchen, guest suites, and primary suite with spa-like bath provide both functionality and indulgence, while a detached carriage house adds extra flexibility for guests or rental use. Fully furnished and ready to go, the residence ensures owners can enjoy the WaterColor lifestyle immediately while capitalizing on the property's proven rental demand. With exclusive access to resort-style amenities, including pools, tennis, a fitness center, and Camp WaterColor, this home anchors the ultimate coastal experience while providing tangible financial value.

Contract Info

Listing Board: Emerald Coast List Price/SqFt: 1462.25 List Date: 2026-02-20 Current Price: $4,125,000 List Price: $4,125,000

Location, Tax and Legal

Sub Area: 1802 - S. of 98 W of Camp Creek Elementary School: Dune Lakes Middle School: Emerald Coast High School: South Walton Legal Description: LOT 1 SUNSET RIDGE AT WATERCOLOR PB 14-29 OR 2487-362 OR 2545-862 OR 2608-3394 OR 3033-2511 OR 3049-4038 OR 3072-2050 OR 3160-1323

General Property Info

Sub-Type: Detached Single Family Design: Florida Cottage SqFt Source: County PA Records Garage: Yes Carport: No Driveway Spaces: 2 Pool: Yes Pool Type: Private Apx SqFt(Htd/Cooled): 2821 Bedrooms: 5 Full Baths: 5 Half Baths: 1 Total Bathrooms: 6 # Stories: 2 Year Built: 2006 Garage Spaces: 1 Acreage: 0.17

Listing Info, Tax & Legal

Homestead: No Is Subject Leased: No Assessment Fees: Yes Assessment Amount: 1560 Annual Assessment Amount: 6240 Assessment Paid: Quarterly New Buyer Fee: Yes New Buyer Fee Amt: 307 New Buyer Fee Paid: $ Last Taxes: 26019.99 Last Tax Year: 2026 Brokerage Interest: No Interest As Is: Yes

Remarks & Misc

Remarks: Imagine owning a WaterColor estate that practically manages itself. This five-bedroom, five-and-a-half-bath corner residence delivers exceptional coastal living with strong rental performance. With $351,366 in 2025 gross revenue and projections of $361,250 in 2026, the property effortlessly balances lifestyle and income potential, making it perfect for savvy investors or families seeking a turn-key beach retreat.

Construction Status

Construction Complete: 1

Parking Features

Garage Attached: 1

Lot/Parcel Access

Paved Road: 1

Lot Features

Corner: 1 Covenants: 1 Restrictions: 1 Within 1/2 Mile to Water: 1

Project Facilities

Beach: 1 Dock: 1 Exercise Room: 1 Fishing: 1 Pets Allowed: 1 Picnic Area: 1 Playground: 1 Pool: 1 Tennis: 1

Utilities

Electric: 1 Public Sewer: 1 Public Water: 1 TV Cable: 1

Zoning

Deed Restrictions: 1 Resid Single Family: 1

Exterior

Balcony: 1 Cabana: 1 Fenced Back Yard: 1 Fireplace: 1 Guest Quarters: 1 Pavillion/Gazebo: 1 Pool - In-Ground: 1 Porch: 1 Summer Kitchen: 1

Interior

Breakfast Bar: 1 Floor Hardwood: 1 Floor Tile: 1 Furnished - Some: 1 Guest Quarters: 1 Kitchen Island: 1 Pantry: 1 Plantation Shutters: 1 Washer/Dryer Hookup: 1 Window Treatment All: 1

Appliances

Dishwasher: 1 Disposal: 1 Dryer: 1 Microwave: 1 Oven Self Cleaning: 1 Refrigerator W/IceMk: 1 Smoke Detector: 1 Stove/Oven Electric: 1 Washer: 1

Energy

AC - Central Elect: 1 Water Heater - Elect: 1

Mstr Bdrm/Mstr Bath

MBath Double Vanity: 1 MBath Walk-In Closet: 1

Master Bedroom

Second: 1

Bedroom

First: 1 Second: 1

Kitchen

First: 1

Rooms

Bedroom: 1 Kitchen: 1 Master Bedroom: 1 Other: 1

Fees Include

Accounting: 1 Internet Service: 1 Trash: 1 TV Cable: 1

Status Change Info

Status: Pending Under Contract Date: 2026-02-22

Location Tax and Legal

Area: 18 - 30A East Street #: 265 Street Name: Western Lake Street Suffix: Drive State: FL Zip Code: 32459 County: Walton Project Name/Subdivision: WATERCOLOR Parcel ID: 15-3S-19-25401-000-0010

Property Features

Construction Status: Construction Complete Lot Features: Corner; Covenants; Restrictions; Within 1/2 Mile to Water Zoning: Deed Restrictions; Resid Single Family Parking Features: Garage Attached Project Facilities: Beach; Dock; Exercise Room; Fishing; Pets Allowed; Picnic Area; Playground; Pool; Tennis Exterior: Balcony; Cabana; Fenced Back Yard; Fireplace; Guest Quarters; Pavillion/Gazebo; Pool - In-Ground; Porch; Summer Kitchen Interior: Breakfast Bar; Floor Hardwood; Floor Tile; Furnished - Some; Guest Quarters; Kitchen Island; Pantry; Plantation Shutters; Washer/Dryer Hookup; Window Treatment All Appliances: Dishwasher; Disposal; Dryer; Microwave; Oven Self Cleaning; Refrigerator W/IceMk; Smoke Detector; Stove/Oven Electric; Washer Utilities: Electric; Public Sewer; Public Water; TV Cable Energy: AC - Central Elect; Water Heater - Elect Master Bedroom: Second Bedroom: First; Second Kitchen: First Rooms: Bedroom; Kitchen; Master Bedroom; Other Fees Include: Accounting; Internet Service; Trash; TV Cable

Room Information

Kitchen Level: First Dimensions: 15 x 11 Length: 15.00 Width: 11.00 Dimensions: 15 x 11 Other Level: First Dimensions: 12 x 8 Length: 12.00 Width: 8.00 Dimensions: 12 x 8 Master Bedroom Level: Second Dimensions: 18 x 16.3 Length: 18.00 Width: 16.30 Dimensions: 18 x 16.3 Bedroom Level: First Dimensions: 15 x 15 Length: 15.00 Width: 15.00 Dimensions: 15 x 15 Bedroom Level: Second Dimensions: 14 x 11 Length: 14.00 Width: 11.00 Dimensions: 14 x 11 Bedroom Level: Second Dimensions: 14 x 11 Length: 14.00 Width: 11.00 Dimensions: 14 x 11 Bedroom Level: Second Dimensions: 15 x 12 Length: 15.00 Width: 12.00 Dimensions: 15 x 12