7348 W ST HWY 20
About This Property
Spanning nearly 6,000 square feet across three levels, this impressive brick residence combines scale, flexibility, and waterfront living in a way few properties can. Offering five bedrooms, four-and-a-half bathrooms, elevator access to all levels, hardwood flooring throughout, and private en-suites for every bedroom, this home was designed for buyers who need more than space--they need options.
The thoughtful floor plan creates exceptional opportunities for multi-generational living, large households, guest accommodations, or those seeking a property capable of adapting alongside changing needs. Whether housing multiple generations under one roof or creating separate spaces for long-term guests, the layout provides both connection and privacy.
At the center of the home, the gourmet kitchen opens into expansive gathering spaces designed for entertaining on every scale. Multiple screened porches create natural extensions of the living spaces, offering peaceful mornings beneath the oaks, sunset dinners overlooking the water, and spaces large enough to host celebrations, holidays, and unforgettable gatherings.
The second level creates one of the home's most remarkable living spaces with walls of windows stretching across the home, flooding interiors with natural light while showcasing stunning basin bayou views that shift beautifully throughout the day.
Storage, recreation, and flexibility were clearly part of the vision behind this property. The third floor is finished and a blank canvas that could be used for 2000 sqft of storage or creative options that fit your vision. Two oversized drive-through bay garages create extraordinary opportunities for RV storage, boats, workshops, recreational vehicles, watercraft, or collections that require more than traditional garage space can offer.
Outside, the possibilities expand even further.
Launch a kayak or paddleboard directly from your property and explore the waterways leading toward the bay. Spend the day fishing in the lake or head toward the bay by way of the low bridge near the locals' favorite, Nick's Seafood Restaurant. Bring the boat, the RV, the jet skis, and all the water toys because this property offers one luxury that has become increasingly rare--freedom.
No HOA. No restrictive covenants.
Located along Highway 20 with convenient access to Destin, marinas, dining, shopping, and the white sand beaches of the Emerald Coast, this property offers the rare combination of waterfront privacy while remaining connected to everything that makes coastal living desirable.
Luxury homes exist, Waterfront homes exist, Large homes exist. However, properties that combine all three with acreage, unrestricted use, multi-generational functionality, income potential, and a setting this remarkable are extraordinarily uncommon. There is simply not another property like this. Waterfront living without compromise. Unlimited potential with room to create whatever comes next. Call for your private tour today.
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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 | Price Decreased |
$1,250,000
↓ $145K
(10.4%) | |
| Price Decreased | |||
| Sep 25, 2026 | Price Decreased |
$1,395,000
↓ $100K
(6.7%) | |
| Price Decreased | |||
| Aug 13, 2026 | Price Decreased |
$1,495,000
↓ $255K
(14.6%) | |
| Price Decreased | |||
| Jul 7, 2026 | Price Decreased |
$1,750,000
↓ $450K
(20.5%) | |
| Price Decreased | |||
| Jun 27, 2026 | Price Decreased |
$2,200,000
↓ $300K
(12%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017