169 Norwood Drive
About This Property
Welcome to 169 Norwood Dr., a stunning three-story vacation home in the heart of Miramar Beach, Florida. Recently renovated and expanded, this property features 5 bedrooms, 5 bathrooms, and comfortably accommodates up to 20 guests. Situated just steps from the Gulf of Mexico with no roads to cross, this fully furnished and professionally decorated home is a true turn-key investment opportunity. Enjoy breathtaking Gulf views from multiple balconies and a host of luxurious amenities.
The private outdoor area boasts a 12' x 24' swimming pool surrounded by lush tropical landscaping and swaying palms. The poolside bar is fully equipped with a beverage center, ice maker, sink, TV, and stereo, offering the perfect setup for entertaining or relaxing after a day at the beach. Wraparound balconies on the second and third floors provide stunning Gulf views, where you can enjoy the coastal breeze and serene surroundings.
The first floor includes a bonus den with a queen sleeper sofa and patio access, a king bedroom with an en suite bath featuring a walk-in shower, a bunk room with two twin bunk beds, and a hall bath with a walk-in shower.
The second floor features an open living room with a queen sleeper sofa and balcony access. The fully equipped kitchen includes stainless steel appliances and flows seamlessly into the dining area with seating for eight and additional bar seating for four. A bunk room with a full/twin bunk bed and twin trundle offers additional sleeping space and has access to a shared hall bath with a tub/shower combo. This level also includes a laundry room.
The third floor is home to a king master suite with an en suite bath, a tub/shower combo, and private balcony access with Gulf views. Another king bedroom features a queen sleeper sofa, an en suite bath with a tub/shower combo, and its own private balcony with Gulf views.
Located in a quiet residential neighborhood, 169 Norwood Dr. offers privacy while being conveniently close to Miramar Beach's best attractions. The property is just steps from the beach, with no roads to cross, and is minutes away from restaurants, beach bars, and coffee shops. Enjoy shopping at Silver Sands Premium Outlets, and fine dining and seasonal events at Grand Boulevard and Baytowne Wharf.
With rental projections exceeding $185,000 annually, 169 Norwood Dr. is a rare opportunity to own a high-performing vacation rental property. Its thoughtful design, luxury amenities, proximity to the beach, and Gulf views make it a standout option for families and investors alike.
Don't miss your chance to own this one-of-a-kind coastal retreat. Whether you're seeking a private getaway or a profitable addition to your investment portfolio, 169 Norwood Dr. offers it all.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 15, 2025 | Sold | ||
| Sold | |||
| Mar 12, 2025 | In contract | - | |
| In contract | |||
| Feb 24, 2025 | Price Decreased |
$1,595,000
↓ $100K
(5.9%) | |
| Price Decreased | |||
| Jan 13, 2025 | Price Decreased |
$1,695,000
↓ $100K
(5.6%) | |
| Price Decreased | |||
| Dec 16, 2024 | Listed by Gulf Realty 30A LLC | $1,795,000 | |
| Listed by Gulf Realty 30A LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017