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28 Varazze Cay
About This Property
28 Varazze Cay has been lovingly maintained as a lightly used private second home and every detail reflects an extraordinary level of pride of ownership. This is a home that has been meticulously cared for, thoughtfully updated, and preserved in truly exceptional condition.
Designed for effortless coastal living, the spacious three-level floor plan offers an ideal balance of elegance and functionality. The main living level features soaring ceilings, beautiful stone flooring, an inviting living area, and an open-concept design that flows seamlessly into the dining area and well-appointed kitchen. Complete with quartz countertops, abundant cabinetry, a large breakfast bar, and a charming breakfast nook, the kitchen is equally suited for entertaining or everyday living. A highly desirable main-level guest bedroom adds convenience and flexibility, while the remaining bedrooms provide generous accommodations for family and guests. Multiple covered balconies invite you to enjoy the Gulf breeze, with peekaboo Gulf views from the upper level providing the perfect backdrop for morning coffee or spectacular sunsets.
Beyond its timeless design, this home has received an impressive list of recent improvements that set it apart from the competition. Major updates include a new tile roof (2025) with a 10-year transferable workmanship warranty, new exterior doors, new blinds, a new garage door and opener, freshly painted exterior (July 2026), and a new ice machine. The high-efficiency Carrier variable-speed HVAC system has been professionally serviced twice annually, with the exterior unit replaced approximately three years ago and protected with a specialized coastal coating for enhanced durability. Regular pest control and termite prevention treatments further reflect the owner's unwavering commitment to preventative maintenance and long-term care.
Residents of Destiny By The Sea enjoy an unmatched coastal lifestyle with 24-hour guarded gate security, private deeded beach access boardwalk, a resort-style community pool, hot tub and beautifully landscaped grounds - all just steps from one of the Emerald Coast's most spectacular stretches of beach.
Ideally located along Scenic Gulf Drive, you'll be minutes from Destin's finest dining, championship golf, boating, world-class fishing, Destin Commons, Grand Boulevard, Baytowne Wharf, HarborWalk Village, and Silver Sands Premium Outlets.
Whether you're searching for an exceptional primary residence, an exclusive coastal retreat, or a premier investment in one of Destin's most coveted beachfront communities, 28 Varazze Cay presents a truly rare opportunity. Homes this close to the beach are always in demand - but finding one that has been extensively updated and maintained to such exacting standards is exceptionally uncommon. Buyer to verify all information.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017