FINALLY!! AFFORDABLE WATERFRONT LIVING with endless panoramic views of Choctawhatchee Bay that grace this amazing home located on a -1/2 acre bay front lot in Dolphin Cove Estates. This quiet, peaceful community south of Hwy 20 is conveniently located just 9 miles east of the Mid Bay Connector Road in Niceville, 10 miles west of Hwy 331 in Freeport and 6 miles (across the bay) from Baytown Wharf! You will have plenty of room to roam in this 4900+sf home with multiple living areas, 5 bedrooms AND a guest suite featuring a private entrance, a bedroom, a living room AND a kitchenette (what a GREAT feature for today's multi-generational family!). When you enter this home through the wide front doors, you find yourself in the spacious foyer. To the right is the family room with a wet bar that is open to the kitchen and breakfast room. There is also a convenient office located between the family room and the oversized garage. On the other side of the house is the formal dining room, living room and a cozy den. Along the rear of the home is a HUGE 860sf Florida room with its own HVAC system (not included in the 4042sf of the house). Upstairs you will find all of the bedrooms as well as the guest suite. The master bedroom features an updated bathroom as well as a private leading to the balcony spanning the entire length of the home. In addition to the master bedroom and guest suite, there are also 3 additional bedrooms (all with doors leading to the balcony) and another full bath upstairs. The spacious lawn in the back of the house leads to the dock and boatlift gracing the shoreline. Practical features include a 2014 roof, newer low-e windows and an energy efficient geo thermal closed loop HVAC system. Want to live the carefree Florida lifestyle yet be close to all the Emerald Coast has to offer? Look no further...you have found it!