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44 Tranquility Lane
About This Property
REO: Designed by a prominent architect, this dream beach retreat was built in the highly sought-after, gated community of Destiny East. This beautifully renovated villa sits on a corner lot which offers privacy and plenty room for everyone. Villa comfortably sleeps 20 and was designed with entertaining and luxury coastal living in mind. Short-term rentals ok!
The main residence features five spacious bedrooms, including three primary suites with private ensuite baths, offering comfort and privacy for family and guests alike. A second-floor bunk room and an oversized third-floor bunk room with adjoining den and charming spiral staircase create the perfect gathering spaces for kids and guests.
At the heart of the home, the huge gourmet eat-in kitchen impresses with a granite island, tile backsplash, and abundant space for hosting. Multiple living and entertaining areas flow seamlessly to the outdoors, where you'll find two enormous covered porches, lush landscaping, extensive outdoor lighting, and a private resort-style setting.
Step outside to your own backyard oasis featuring a heated private pool, hot tub, and expansive grilling area--perfect for relaxing after a day at the beach. Additional highlights include a full-house generator, on-demand water heater, new roof (2023), 2-car garage, and thoughtful upgrades throughout.
Above the garage is a separate apartment-detached carriage house provides additional flexibility--ideal for guests, in-laws, or rental potential. Carriage home is complete with a full kitchen, a living room and a separate bedroom.
Destiny East amenities include a lagoon-style community pool, Destiny East Clubhouse, tennis/pickleball courts, a putting green, playground, fitness center. Close to several outstanding restaurants, and local attractions. This exceptional property offers the ultimate combination of location, luxury, and space--perfect as a primary residence, second home, or high-performing vacation rental in one of Destin's most desirable communities
Metal Roof installed 2023.
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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 |
|---|---|---|---|
| Oct 21, 2026 | Relisted | $1,999,900 | |
| Relisted | |||
| Sep 30, 2026 | In contract | - | |
| In contract | |||
| Sep 15, 2026 | Price Decreased |
$1,999,900
↓ $100K
(4.8%) | |
| Price Decreased | |||
| Aug 15, 2026 | Price Decreased |
$2,100,000
↓ $50K
(2.3%) | |
| Price Decreased | |||
| May 28, 2026 | Price Decreased |
$2,149,900
↓ $50K
(2.3%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017