Stunning Custom Estate in Prestigious Kelly Plantation - Gated Golf
& Lakefront Living Nestled into lush foliage adjacent to the 8th
hole of the Kelly Plantation golf course and backing up to a serene
lake, this exceptional 6,020 sq ft custom-built home offers
tranquil resort-style living in one of Destin's most sought-after
gated communities. Built in 2001 with outstanding architecture and
meticulous attention to detail, this 4-bedroom, 5 full + 1 half
bath residence welcomes you through grand double mahogany doors
into a dramatic 27-foot ceiling foyer. An elegant wooden arched
staircase with wrought-iron balustrade leads upstairs, setting the
tone for the home's timeless elegance. Highlights include:
Walnut-paneled two-story study with a hidden ''secret room,'' extensive built-in bookcases and bonus office space. Gourmet
kitchen designed for serious entertaining, featuring high-end
Viking, Bosch, Sub-Zero, and Fisher & Paykel appliances, a striking
brick-surrounded double oven and hood, the large pantry with
authentic 1700s French doors and hardware, multiple sinks,
icemakers, dishwashers, and more. Four spacious bedroom suites --
each with coffered ceilings, large walk-in closets, and private
ensuite baths (primary bath boasts a spa tub, heated porcelain
floors, and a multi-head shower). First-floor mother-in-law suite
with private entrance and kitchenette. Oversized upstairs media
room with blackout drapes. Six indoor fireplaces plus one outdoor,
plus four HVAC units for year-round comfort. Additional first-floor
office, multi-use beverage center with copper sink, powder room,
and laundry. Step outside to your private oasis: a screened terrace
overlooking the lake and golf course, a refreshing 30x14 salt water
pool with pool cabana, and multiple open terraces and covered
porches ideal for al fresco dining and relaxing. The 3-car garage
features hurricane-proof doors, and a full security camera system
provides peace of mind. Kelly Plantation offers golf, tennis,
pickleball, multiple pools, a remodeled Owners Club, and more. Just
minutes from world-class Destin beaches, dining, shopping, and
entertainment. Conveniently located near Destin Middle and High
Schools. This one-of-a-kind estate combines luxury, privacy, and
functionality on a beautifully landscaped ~0.52-acre lot. A rare
opportunity in the heart of Destin.
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.
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