4659 Destiny Way
About This Property
This one-of-a-kind coastal compound is composed of a grand main residence and a beautifully appointed guest house, seamlessly connected by elegant breezeways and offering a total of eleven bedrooms and ten full baths and two half baths. Each suite is designed to provide comfort, privacy, and refined coastal style--creating an exceptional setting for large-scale entertaining, multigenerational living, or luxury rental income. Set along 80 feet of pristine frontage on Four Prong Lake, the outdoor experience is nothing short of resort-caliber. An infinity-edge pool with swim-up bar and waterfall feature overlooks the water, complemented by a spa, expansive sun decks, and a fully equipped summer kitchen with gas grill--perfect for effortless entertaining. A lakeside fireplace, pool bath, and multiple gathering areas further elevate the experience, while panoramic lake and Gulf views create a breathtaking backdrop.
Inside, coastal-modern interiors are enhanced by custom finishes, multiple wet bars, wine and beverage coolers--offering seamless indoor-outdoor living and entertainment. Recent enhancements, including a refreshed exterior and updated pool systems, ensure both beauty and performance.
Designed to accommodate up to 34 guests with parking for 12 vehicles, this remarkable estate has proven itself as a premier income-producing property while maintaining the feel of a private luxury retreat. Residents enjoy access to exclusive community amenities including tennis courts, a fitness center, and a golf cart-friendly lifestyle--all within one of Destin's most coveted communities.
Whether envisioned as a legacy family compound or a high-performing investment, The White Pearl embodies the scale, sophistication, and resort-style living that define the Emerald Coast's finest properties.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 2, 2026 | Listed by Scenic Sotheby's International Realty | $5,490,000 | |
| Listed by Scenic Sotheby's International Realty | |||
| Apr 2, 2025 | Price Decreased |
$5,695,000
↓ $100K
(1.7%) | |
| Price Decreased | |||
| Feb 27, 2025 | Listed | $5,795,000 | |
| Listed | |||
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*Seller Financing Option - Submit your offer today!*
Exquisite Modernized Luxury Vacation Estate.
Welcome to The White Pearl, stunning 7,041 sq. ft. lakeside estate in the prestigious gated community of Destiny. This one-of-a-kind luxury retreat comprises two beautifully furnished three-story homes, seamlessly connected by breezeways with breathtaking 180° lake and Gulf views. Designed for the ultimate vacation rental investment or multi-generational family retreat. This property offers unparalleled elegance, modern upgrades, and exceptional income potential.
Nestled on 80 feet of waterfront on Four Prong Lake, this estate boasts an exquisite private infinity pool with a swim-up bar and waterfall feature, fully restored in 2023 with a new salt cell generator, valve, filter element, and pump.
Relax in the spa-like Jacuzzi or entertain effortlessly with a brand-new summer kitchen, featuring a state-of-the-art barbecue and gas grill. Multiple wet bars, wine and drink coolers, and interior/exterior ice machines ensure seamless hospitality across every level.
Inside, coastal-inspired modern furnishings and custom-painted interiors elevate the ambiance, while a whole-home Wi-Fi-controlled audio system delivers an immersive entertainment experience indoors and out. The 10,000 sq. ft. freshly painted exterior, including doors, trim, railing, and breezeways, enhances the home's pristine aesthetic.
With 11 bedrooms, 12 lavish bathrooms, and expansive indoor-outdoor living spaces, this residence is steps from the Gulf of Mexico and its iconic sugar-white sands. Enjoy exclusive community amenities, including a golf cart-friendly layout, tennis courts, a fitness center, and recreational areas. Public beach access is directly across the street, making this an unbeatable coastal retreat.
A rare and extraordinary investment opportunity, The White Pearl stands as one of the most sought-after vacation rental properties on the Emerald Coast. Don't miss your chance to own this iconic estate; schedule your private showing today!
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| Apr 25, 2022 | Sold | ||
| Sold | |||
| Mar 13, 2022 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017