3 Destin Vacation Homes For Sale Under $1.5M

Ocean Reef Realty reports that residential property demands continue to be very active, and the buyer market has changed. Demand remains far above supply and is expected to be this way for quite some time with escalating prices. During the real estate "boom" several years ago, buyers are were purchasing to flip for profits to create a speculative bubble. Now, most buyers are leaving large cities up north to purchase a home here as a primary residence or a forever vacation dream home. Many of these homes also serve as lucrative rental investment properties. If you are a prospective buyer and ready to do the same, the following Miramar Beach vacation homes have just hit the market.

You know what they say about the value of a great location! These three homes are located off of Scenic Gulf Drive near popular beachside restaurants and local area attractions. They are near grocery stores and bargain shopping for world-class designer goods at the famous Silver Sands Premium Outlets. The stylish Grand Boulevard town center of Sandestin and the captivating Village of Baytowne Wharf are also minutes away. Grand Boulevard is lushly adorned with royal palm trees and tropical plantings. It connects to wonderful restaurants, casual bars, boutiques, fine clothiers, specialty shops, a Publix grocery, and a multiplex movie theater with a VIP dining room. The charming Village of Baytowne Wharf was inspired by the enchanting architecture found in the New Orleans French Quarter. It sits upon a lovely lagoon and has a long wharf that juts out into the expansive bay beside it. Visitors can enjoy walking along the dock to experience spectacular sunsets over the bay during the summer or try their luck at fishing. This delightful village includes a variety of great restaurants, bars with live music, fun family amusements, specialty shops, outdoor concerts, year-round festivals, and exciting seasonal firework displays.

A charming coastal-styled cottage encompassing almost 2,700 square feet with four bedrooms is available at 21 Ruth Street, adjacent to the premier masterplan community of Frangista Beach on Scenic Gulf Drive. This welcoming home is flanked by tropical palm trees and features a columned front porch veranda with two rocking chairs to enjoy the lovely surroundings. The home is less than half a mile from the deeded beach access at the end of Hollywood Street. It is also a short stroll away from the community pool located at the end of Charlotte Avenue. Frangista Beach is a golf cart-friendly neighborhood with charming cobblestone streets, and many owners use them for fun convenience. Gross annual rental income projections stand at approximately $85,000. Our highly acclaimed Ocean Reef Resorts property management division represents many vacation residences for private owners throughout this area. We can provide detailed rental data upon request.

The open floor plan that combines the living, dining, and kitchen areas is exceedingly spacious. Multiple windows provide abundant natural light while soaring ten-foot-tall ceilings and lightly tanned hardwood flooring accentuate the bright space. Fine craftsmanship is featured throughout, including grand 8' wide portal door entryways, rich 6" crown moldings, 8" baseboards, recessed lighting, and a wall for an entertainment cabinet completed with white coastal styled shiplap. A built-in wet bar in the living area is next to a glass door leading to a screened-in back porch. This is the perfect place for grilling and enjoying the Florida sunshine. An outdoor shower is also available for rinsing off sandy feet after a fun day at the beach. The state-of-the-art open kitchen features a white quartz-topped island bar for drinks and dining beneath two antique nautical dome light fixtures suspended above. The kitchen's cream-colored custom cabinetry and upscale brushed stainless steel appliances provide everything needed to create tasty family meals. A spacious dining area beside two windows is nearby and includes a suspended attractive coach lantern light fixture.

The master bedroom with a big walk-in closet with organizers includes a private luxurious ensuite bath. It features double vanity sinks on a quartz-topped counter and a large glass-walled walk-in shower. A half bath powder room is located off the living area.

Upstairs, a large bonus space may be used as a den or game room. The guest quarters are also positioned on this level, featuring a second master bedroom with a luxury ensuite bath. The two additional guest bedrooms share a Jack n Jill styled bath with a tub shower combination and double vanity. This home is priced at $1,425,000, which comes in at $529.35 per square foot.

A Tuscan-styled villa is also on the market at 31 Le Soliel Drive in Miramar Beach. The home includes five bedrooms with private luxury ensuite baths in the master bedroom and two guest bedrooms. The other two bedrooms share a full hall bath that also serves as a powder room. This two-story home has a regal classic Mediterranean exterior with thick terracotta roofing, stucco siding, and two covered balconies with decorative metal railings.

Multiple windows provide a bright, crisp look as cream-colored porcelain tiled flooring flows throughout the living, kitchen, and dining areas. An elliptical candle chandelier is suspended above the dining area. Glass doors lead out to an intimate paver stone patio with a dining area and room for a gas grill. The open kitchen includes a finely grained brown granite-topped bar, brushed stainless steel appliances, white cabinetry, and a mosaic-tiled backsplash. Two bedrooms are on the first floor, while a partially open spindle staircase leads to three additional guest quarters.

The master bedroom and two other guest bedrooms are upstairs, including luxurious ensuite baths. The two Guest Bedrooms have their own covered balcony overlooking the tropical surroundings. This gracious home is only a quarter-mile stroll away from the beautiful beach overlooking the glowing jewel-toned gulf. A long promenade with picnic pavilions is anchored by the popular Pompano Joe's seafood restaurant. This colorful Key West-style restaurant serves craft cocktails, tropical drinks, wine, beer, savory seafood baskets, fresh fish, shrimp, oysters, gumbo, po'boy sandwiches, and burgers. Despite this outstanding vacation destination, this home has been under single ownership for personal beach visits and has never been on a property rental investment program. Our esteemed Ocean Reef Resorts property management division represents many vacation homes securing lucrative rental income for private owners throughout this area. Gross annual rental income projections for this residence stand at $102,312. We can happily provide detailed data on comparable vacation rental properties upon request. This two-story five-bedroom vacation villa is listed at $1,390,000, or $650.44 per square foot.

Another new vacation rental home on this list has already gone under contract, which exemplifies the highly active market here. This two-story home located at 102 Terra Cotta Way has 3,092 square feet with four bedrooms, four full baths, and a bonus room. It is a short stroll away from the beautiful beach and has its own private heated swimming pool. This home received extensive renovations and was offered completely furnished, ready to go on a turnkey basis. Annual gross income projections for the current year stand at $127,890.

The open great room features a two-sided gas fireplace between the living area and kitchen. The kitchen near the fireplace has a bar with raised chair seating, brushed stainless steel appliances, and rich cream-colored custom cabinetry. Two wide arched portals lead into a formal dining alcove with a long rectangular white table flanked by cottage-styled chairs beside the pool's windows.

The master bedroom, three guest bedrooms, and a bonus room currently used as guest quarters are on the second floor. A dramatic landing connects them with seating that looks down into the great room. The spacious master bedroom has a stately look with white furnishings, a king-sized bed, a built-in vanity dressing table, and a lavish ensuite luxury bath. The guest quarters include a mix of comfortable contemporary and cottage-style bedrooms, one of which is a bunk room. All the guest quarters include large wall-mounted flatscreen TVs for evening entertainment and access to a couple of full hall baths. Another full bath is on the first floor, which serves as a powder room and dressing room for the pool. This home was listed at $1,495,000, or $483.51 per square foot.

Currently, fifty-seven single-family homes are listed for sale in Miramar Beach. They range in price from $639,000 for a four-bedroom home with 2,180 square feet, which comes in at $293.12 per square foot, up to $8,450,000 for a five-bedroom bayfront mansion with 6,550 square feet, coming in at $1,290.08 per square foot.

If you are ready to take advantage of this buying opportunity, contact our Ocean Reef Real Estate office at 877-392-6085. We will provide important data from a professional comparative market analysis showing all current listings, those under pending contracts, and those that have sold within the past twelve months. We can also provide you with complete details and valuable gross annual rental income histories on like-kind vacation rental properties. Once you are fully informed, we can set up private appointments to tour those you desire to see. We look forward to hearing from you soon and being at your service!