High-performing income property located in the gated community

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Home Sale Pending

3587 Waverly Circle

Destin, Florida 32541

Okaloosa County

Community: DESTIN POINTE

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$1,390,000 5 br, 4.0 bath 2695 sq. ft. 0.110 acres

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.

Interior:
  • Bedrooms: 5
  • Baths: 4.0
  • Sq Ft: 2695
  • Year Built: 2000
  • Utilities: 
  • Fireplaces: 
  • Stories: 2
  • Heat/AC: Central
  • Garage: Garage, Guest
Exterior:
  • Lot Size: 0.110 acre
  • Lot Dimensions: 
  • View Types: 
  • Yard: 
  • Siding: Frame, Stucco, Trim Wood
  • Roof: 
  • Property Taxes: $11,803
  • MLS #: 993129
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Contact Information:
Beach Home Sale Pending in Destin, Florida
Listing Agent: Hillary Driscoll Olds, Lokation Real Estate, 850-699-0344, 954-545-5583 Listing Site, Listing Status: Pending
Copyright © 2025 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ad Number: 7227413
Viewed 24 times.
Updated: Feb 18, 2026

This property is a Home located at 3587 Waverly Circle, Destin, Florida 32541, and is currently Sale Pending at $1,390,000. This Home has 5 bedrooms, 4.0 baths, 2695 sq ft.