In recent years the trend in real estate in Destin and all along the Emerald Coast of Northwest Florida has been to purchase vacation homes or condos not only for personal use but as an investment. There are good reasons for this since Destin is starting to become a household name nationwide. This popular acclaim is due to the white sand beaches, jewel-toned waters, exquisitely planned residential communities, resorts, championship golf courses, lifestyle amenities, gorgeous homes, and luxurious gulf front condominiums.
Proper short term residential rental property investments provide purchasers with savings in several different ways.
1. You may use them for your own family beach vacations instead of spending money elsewhere.
2. When you rent it out to vacationers at other times to garner income, it helps pay the mortgage, property taxes, insurance costs, association fees, and maintenance.
3. There are significant tax incentives and deductions available related to rental expenses that a professional CPA or real estate attorney can help you take advantage of.
4. Real Estate appreciates in value over time, especially in places like Destin that have become well-known desirable destinations.
It is no wonder then that Windancer 209, a one-bedroom gulf front vacation rental that Ocean Reef Resorts manages, went under contract in only one day!
Windancer itself is aptly named since its location above the sugary shoreline overlooks the glistening gulf where the wind and sun seem to dance together across sparkling waters. This four-story building in the heart of marvelous Miramar Beach provides owners and guests with an exclusive sense of privileged residence compared to the density of high rise towers nearby. However, it has its own private beach in the same highly sought after location on Scenic Gulf Drive. One, two, and three-bedroom vacation residences are located at Windancer, and Ocean Reef Resorts professionally manages almost twenty of them as vacation rentals for their happy owners.
Windancer 209, like many other one-bedroom properties here, has hallway bunks and a queen-sized sleeper sofa, so it sleeps up to six beach-going guests. Beautiful beachside balconies provide a place to enjoy favorite drinks while enjoying the seascape and listening to the soothing surf. A lovely lagoon shaped heated swimming pool overlooks the gulf from its white sandy perch above the beautiful beach. The gross income for this unit thus far in 2019 stands at $38,000. If updated, the annual rental revenue numbers could be much higher.
Currently, there is only one other condo available at Windancer listed at $599,000, which has 1,612 square feet with three bedrooms and (like all others) comes fully furnished. It is value-priced at $371.59 per square foot since Windancer 203, a one-bedroom property with 806 square feet, closed earlier this month for $417,500 coming in at $517.99 per square foot.
If interested in participating in this potentially lucrative property investment trend, contact our Ocean Reef Real Estate Office today at 877-392-6085 to get started. We can set up tours for any properties available in all price ranges, locations, and styles while providing detailed information. Important gross rental data estimates can also be provided to help you. It’s available from our highly respected Ocean Reef Resorts sister division, which has been providing local professional property management services since 1982. We look forward to hearing from you soon!