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50 Walton Drive
About This Property
This gated coastal home in Frangista Beach, located in Miramar Beach along the Emerald Coast, is an active short-term rental offering strong appeal with 4 bedrooms, 3 bathrooms, a large backyard with space for a private pool, deeded beach access, shopping and dining just minutes away, and a community resort-style pool. Designed for both personal enjoyment and rental use, the property supports a relaxed coastal lifestyle with seamless access to the Gulf, resort-style amenities, and nearby conveniences. The home combines a desirable rental location with a functional layout, refined finishes, and seamless indoor-outdoor living within one of the area's most sought after beach communities. Upon entry, a radiant grand foyer sets the tone, with immediate access to a guest bedroom and full bathroom on the right, a small seating area to the left, and a large under stair storage space maximizing functionality. The main hallway opens into a spacious dining area and living room, complemented by a beautifully designed kitchen featuring quartz countertops, an expansive island, stainless steel appliances, vent hood, and a decorative crackle-glazed tile backsplash.
The living area flows directly to a private patio, creating an ideal setting for entertaining or relaxing. Upstairs, a versatile loft-style seating area with TV provides a secondary living space, well-suited for gathering, media use, or additional lounge space. The light-filled primary suite is positioned for privacy and features private balcony access, a large walk-in closet, and a well-appointed bathroom with dual vanities and an enclosed shower.
Down the hall, two additional guest bedrooms each offer direct access to a large shared balcony, enhancing the home's outdoor living appeal and providing additional space for morning coffee, evening relaxation, or hosting guests with privacy and comfort.
Outdoor features include an extended balcony and an expansive fenced-in backyard, providing ample space for recreation, pets, or future enhancements. Residents enjoy access to a private resort-style pool along with deeded beach access, supporting a true coastal lifestyle with convenient opportunities for daily beach access, poolside relaxation, and outdoor entertaining within a secure gated setting.
Ideal as a primary residence, second home, or investment property, this home combines location, layout, and lifestyle in one of Miramar Beach's most desirable neighborhoods.
4 BR | 3 BA | Active STR | Miramar Beach | Frangista Beach | Gated Community | Deeded Beach Access | Community Pool | Balcony | Fenced Yard | Investment Opportunity | Emerald Coast
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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 |
|---|---|---|---|
| Oct 1, 2026 | In contract | - | |
| In contract | |||
| Sep 12, 2026 | Price Decreased |
$975,000
↓ $24K
(2.4%) | |
| Price Decreased | |||
| Jun 23, 2026 | Price Decreased |
$999,000
↓ $51K
(4.9%) | |
| Price Decreased | |||
| May 25, 2026 | Price Decreased |
$1,050,000
↓ $50K
(4.6%) | |
| Price Decreased | |||
| Apr 2, 2026 | Listed by Watersound Real Estate | $1,100,000 | |
| Listed by Watersound Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017