See Home Value
$1,361,000
● House - Off Market

3587 Waverly Circle

Destin, FL 32541
bedrooms
5 Beds
bathrooms
4 Baths
$7,809
Est. Monthly

About This Property

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.
Unit Size
-
Days on Market
50 days
Land Size
0.11 acres
Price per sqft
-
Property Type
House
Property Taxes
$984
HOA Dues
-
Year Built
2000

Payment Calculator

Cap Rate Calculator

Last updated: 7 months ago (ECAR #993129)

Price History

Date / Event Date Event Price
Mar 27, 2026 Sold
Sold
Feb 19, 2026 In contract -
In contract
Jan 18, 2026 Listed by Lokation $1,390,000
Listed by Lokation
Apr 1, 2025 Listed $1,400,000
Listed
INVESTOR DREAM in Destin Pointe - 9.4%+ NET CAP RATE WITH PROVEN INCOME! Located in the popular gated community of Destin Pointe, this high-yield SHORT-TERM RENTAL GROSSED OVER $202K in 2023 and is already at nearly $145K YTD for 2025. With annual ownership costs of just $47K, this property delivers strong cash flow— Designed for dual-family or group bookings, the home features TWO KITCHENS, offering rare flexibility and privacy for guests. Enjoy a private in-ground POOL, DEEDED BEACH ACCESS, NEW 2024 metal roof and water heater, 2022 HVAC, and fresh paint inside & out. The seller is also offering to continue professional property management at just 15%. Ready for your next hIgh-performing investment? Schedule a private tour today before the next booking rolls in!
Jul 4, 2023 No longer available -
No longer available
Show More

Property Highlights

Parking Available
Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2000
  • Effective Year Built: 2000
  • Building Count: 1
  • Bedroom Count: 5
  • Bathroom Count: 4
  • Full Bathrooms: 4
  • Partial Bathrooms: 4
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 5
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 1
  • Garage Type: 1
  • Garage Square Area: 400
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 126
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 4,998
  • Total Building Area: 3,679
  • Gross Building Area: 3,679
  • Building Area: 2,695
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,695
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DESTIN POINT
  • Land Acres: 0000000115
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 001
  • Legal Description 1: DESTIN POINTE LOT 17

Neighborhood

  • School District Name: Okaloosa County School District
  • Census Tract: 023303

Geography

  • Assessors Map Reference: 18
  • Parcel: 00-2S-24-0110-0000-0170
  • Lot: 17
  • Municipality: DESTIN
  • Latitude: 30.3871
  • Longitude: -86.5018

    Address

  • Full Address: 3587 Waverly Cir
  • Address - House Number: 3587
  • Address - Street Name: Waverly
  • Address - Suffix Type: Cir
  • State: FL
  • City Name: Destin
  • Carrier Code: C004
  • 4-Digit Zip Code: 5016
  • Zip Code: 32541

Valuation

    Tax

  • Total Area: 3,084
  • Tax Year: 2023
  • Tax Amount: $1,180,330
  • Tax Rate Code Area: 010

    Appraisal Valuation

  • Standard Deviation: 0.0808
  • Valuation Date: Feb 21, 2024
  • Confidence Score: 94
  • Final Value: 1,904,729
  • High Value: 2,058,710
  • Low Value: 1,750,748

    Market Valuation

  • Market Total Value: $1,054,942
  • Market Land Value: $336,553
  • Market Improvement Value: $718,389

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,054,942
  • Assessed Land Value: $336,553
  • Assessed Improvements Value: $718,389

    Sales

  • Current Sale Contract Date: Dec 08, 2021
  • Current Sale Recording Date: Dec 13, 2021
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3512258
  • Previous Sale Recording Date: Jan 08, 2021
  • Previous Sale Contract Date: Jan 05, 2021
  • Previous Sale Amount: $675,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Destin Pointe


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals



Frequently Asked Questions

When was property at 3587 Waverly Circle built and last sold?
The property at 3587 Waverly Circle was built in 2000 and last sold on Dec 8, 2021 for $1,105,000.
How much is this home worth?
The estimated value of the home located at 3587 Waverly Circle is $1,403,900.
What are some comparable homes to 3587 Waverly Circle?
There are currently no comparable homes to 3587 Waverly Circle.