3587 Waverly Circle, Destin

$1,390,000

5 Beds
4 Baths
2,695 Sqft
.11 Acre
1 Garage

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 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.

Essential Information
MLS® #993129
Price$1,390,000
Sold Price$1,361,000
Date Sold$2026-03-27
Bedrooms5
Bathrooms4.00
Full Baths4
Square Footage2,695
Acres0.11
Year Built2000
TypeResidential
Sub-TypeDetached Single Family
StyleBeach House
StatusSold
Community Information
Address3587 Waverly Circle
Area14 - Destin
SubdivisionDESTIN POINTE
CityDestin
CountyOkaloosa
StateFL
Zip Code32541
Amenities
ParkingGuest, Garage
# of Garages1
Has PoolYes
PoolIn Ground
Utilities

Electric, Public Sewer, Public Water, TV Cable

Interior
HeatingCentral
CoolingCentral Air, Ceiling Fan(s)
# of Stories2
Interior Features

Breakfast Bar, Vaulted Ceiling(s), Owner's Closet, Washer/Dryer Hookup

Appliances

Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer, Electric Water Heater

Exterior
WindowsWindow Treatments
RoofMetal
ConstructionFrame, Stucco, Trim Wood
FoundationFoundation On Piling
Exterior Features

Outdoor Grill, Balcony, Private Yard, Sprinkler System

Lot Description

Flood Insurance Req, Within 1/2 Mile to Water

School Information
ElementaryDestin
MiddleDestin
HighDestin
Additional Information
Days on Website270
ZoningResid Single Family
Listing Details
OfficeLokation
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Listing information last updated on October 15th, 2026 at 9:07pm CDT.