23 Grayling Way
About This Property
The open, inviting layout comfortably accommodates multiple guests, supporting strong rental appeal. Multiple closets provide more storage than you usually get out of a beach home, making it practical for owners and renters alike.
Outdoor living spaces offer a relaxing retreat after a day at the beach, while the home's proximity to Rosemary Beach's dining, shopping, and entertainment adds to its desirability for both personal use and rentals. An extra wide bike path is just around the corner, connecting seamlessly to 30Avenue and even over the bridge toward Panama City Beach. Plus, pedestrian access through the nearby tunnel provides safe, easy passage beneath Highway 98 toward 30A and Rosemary Beach.
The nearby Inlet Beach Regional Access at the southern end of S. Orange St. is the largest beach access in Walton County, featuring plenty of parking (117 spaces), showers, bathrooms, and expansive natural dunes our area is known for. It offers a convenient beach walkout with no stairs (via the middle dune walkover), seasonal lifeguards, and ADA-accessible amenities. Just offshore lies the popular "Grouper Reef," an artificial snorkel reef about 970 feet from shorea focal point for snorkeling and diving with abundant marine life, including fish, dolphins, and sea turtles.
Camp Helen State Park is just a mile east, providing access to Lake Powell, one of the area's largest rare coastal dune lakes (the biggest in Florida and North America), perfect for kayaking, paddleboarding, and exploring pristine nature. This prime eastern end of 30A also offers quick access to Pier Park shopping and dining in Panama City Beach, as well as Florida Beaches International Airport (ECP) for easy travel.
With nearby beach access, a location that consistently draws demand, and a fully furnished, updated property ready to generate rental income from day one, 23 Grayling Way delivers exceptional value. Whether you're seeking a personal coastal getaway or an investment positioned for immediate use and long-term appeal, this home combines refreshed interiors, rental-ready convenience, and an unbeatable Inlet Beach location near Rosemary Beach and the Gulf.
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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 |
|---|---|---|---|
| Mar 25, 2026 | Sold | ||
| Sold | |||
| Feb 27, 2026 | In contract | - | |
| In contract | |||
| Feb 15, 2026 | Listed by Compass | $759,000 | |
| Listed by Compass | |||
| Apr 8, 2025 | Price Decreased |
$739,000
↓ $136K
(15.5%) | |
| Price Decreased | |||
| Jul 31, 2024 | Listed | $875,000 | |
| Listed | |||
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Beautifully updated and meticulously maintained 3 bedroom, 2.5 bath home walking distance from the world famous Walton County beaches. Come and see this charming 2-story home and fall in love with the beach side lifestyle.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017