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$1,600,000

Beds
5
Baths
4.0
sq ft
2,450

83 Sunfish St, Destin, FL 32541

83 Sunfish St

Destin, FL 32541

  • 68 days on market
This exceptional investment property, situated in Destin, Florida, is a prime opportunity for buyers seeking a successful short-term rental. With its convenient location near pristine beaches and popular attractions, this 5-bedroom, 4-bathroom vacation home offers 2400 sq. ft. of well-designed space, comfortably accommodating up to 16 guests.The property is fully furnished, boasting an updated kitchen, spacious living and dining areas, and a heated pool with a lounge area. Guests highly praise its proximity to local restaurants, golf courses, and family-friendly activities, making it a popular year-round destination. In 2023, the property generated over $163,000 in gross rental income, maintaining a consistently high occupancy rate throughout peak and shoulder seasons. Based on current market trends and similar properties in the Destin area, rental income is driven by the area's popularity as a top Gulf Coast vacation destination. Destin's robust short-term rental market presents investors with a lucrative opportunity for cash flow and appreciation. Whether you're looking to expand your portfolio or secure a vacation home that pays for itself, this Destin property is primed to deliver. Don't miss out on this turnkey opportunity in one of Florida's most sought-after vacation destinations.

Details

Property type

Single Family Residence

Est. home value

$1,826,387

Lot size

7,405 sq ft

Price per sq ft

$654

Year built

1994

Monthly HOA fee

$41.67

Price History

11/08/2024
EmeraldCoast

EmeraldCoast #952100

Removed
$1,650,000
+3.13%
11/08/2024
EmeraldCoast

EmeraldCoast #962689

Listed
$1,600,000
-3.03%
08/09/2024
EmeraldCoast

EmeraldCoast #952100

Pending
$1,650,000

Schools & Community

Elementary school: 

Destin

Middle school: 

Destin

High school: 

Destin

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$178,366
Asking price
$1,600,000
Closing costs (~8% of asking)
-$128,000
Est. remaining loan balance
-$1,293,634
Cash to seller
$178,366

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Movement Mortgage

Loan start date

September 2021

Original loan amount

$1,393,450

Est. remaining balance

$1,293,634

Interest rate

2.87%

Loan type

New Conventional, 30 year

Seller

Calvin Covington and Andrea Covington

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 01/15/2025 at 6:20 AM

Listing updated: 11/29/2024 at 4:29 PM

Listed by: Denise A Greene, Denise A Greene, Denise A Greene, Scenic Sotheby's International Realty Phone #: (850) 231-6052

MLS: EmeraldCoast #962689

EmeraldCoast logo

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