3587 Waverly Circle, Destin, FL 32541

$1,390,000
Property Type: Residential Bedrooms: 5 Baths: 4 Square Footage: 2,695 Lot Size (sq. ft.): 4,792 Status: Active
Current Price: $1,390,000 List Date: 2/05/2026 Last Modified: 2/15/2026

Description

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

Supplements: 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.

More Information MLS# 993129

Status Change Info

Status: Active

Contract Info

List Date: 2026-01-18 Current Price: $1,390,000 List Price: $1,390,000 List Price/SqFt: 515.77 Listing Board: Emerald Coast

Location Tax and Legal

Area: 14 - Destin Street #: 3587 Street Name: Waverly Street Suffix: Circle State: FL Zip Code: 32541 County: Okaloosa Project Name/Subdivision: DESTIN POINTE Parcel ID: 00-2S-24-0110-0000-0170

General Property Info

Sub-Type: Detached Single Family Design: Beach House Apx SqFt(Htd/Cooled): 2695 SqFt Source: County PA Records Bedrooms: 5 Full Baths: 4 Total Bathrooms: 4 # Stories: 2 Year Built: 2000 Immediate Occupancy: No Garage: Yes Carport: No Garage Spaces: 1 Driveway Spaces: 2 Acreage: 0.11 Pool: Yes Pool Type: Private

Property Features

Construction Status: Construction Complete Lot Features: Flood Insurance Req; Within 1/2 Mile to Water Zoning: Resid Single Family Parking Features: Garage; Guest Project Facilities: Beach; Deed Access; Fishing; Gated Community; Pavillion/Gazebo; Picnic Area; Pool; Short Term Rental - Allowed; Tennis Exterior: Balcony; BBQ Pit/Grill; Fenced Back Yard; Pool - In-Ground; Porch; Sprinkler System Interior: Breakfast Bar; Ceiling Raised; Floor Tile; Floor Vinyl; Furnished - All; Owner's Closet; Renovated; Washer/Dryer Hookup; Window Treatment All Appliances: Dishwasher; Disposal; Dryer; Microwave; Refrigerator; Refrigerator W/IceMk; Smoke Detector; Stove/Oven Electric; Washer Utilities: Electric; Public Sewer; Public Water; TV Cable Energy: AC - 2 or More; AC - Central Elect; Ceiling Fans; Heat Cntrl Electric; Water Heater - Elect Master Bedroom: Second Bedroom: First; Second Kitchen: Second Living Room: First Rooms: Bedroom; Dining Room; Kitchen; Living Room; Master Bedroom Assumable Mtg Typ: Qualify Required Financing: Conventional; Other Fees Include: Accounting; Management; Master Association; Recreational Faclty; Trash; TV Cable Existing Leases: Daily/Weekly

Room Information

Dining Room Level: Second Dimensions: 25 x 16 Length: 25.00 Width: 16.00 Dimensions: 25 x 16 Kitchen Level: Second Dimensions: 11 x 8 Length: 11.00 Width: 8.00 Dimensions: 11 x 8 Master Bedroom Level: Second Dimensions: 17 x 14 Length: 17.00 Width: 14.00 Dimensions: 17 x 14 Bedroom Level: Second Dimensions: 15 x 10 Length: 15.00 Width: 10.00 Dimensions: 15 x 10 Bedroom Level: Second Dimensions: 14 x 10 Length: 14.00 Width: 10.00 Dimensions: 14 x 10 Living Room Level: First Dimensions: 17 x 12 Length: 17.00 Width: 12.00 Dimensions: 17 x 12 Bedroom Level: First Dimensions: 11 x 10 Length: 11.00 Width: 10.00 Dimensions: 11 x 10
Listing Office: Lokation
Last Updated: February - 15 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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