88 Pompano Street
About This Property
As you enter, be immersed in an atmosphere of sumptuous relaxation with shiplap accent walls and white-painted wooden ceilings that extend from the foyer through the primary living spaces, enhanced by elegant and durable LVP flooring. The ground floor acts as a center of activity, boasting a splendid open-plan chef's kitchen equipped with stainless KitchenAid appliances, bespoke cabinetry, a gas range with a handy pot filler, a built-in wine fridge, and a substantial island with beautiful countertops. This culinary retreat is perfect for preparing gourmet meals and hosting gatherings. Adjacent to the kitchen, a spacious dining area seats 20+ guests and displays unique vintage-style local artwork that accentuates the area's allure. The adjacent living area, adorned with distinctive metal fish wall art, includes a large wall-mounted TV and an L-shaped sofa for peak relaxation. This level also hosts two king suites, each with tiled walk-in showers; one suite additionally features a large bathtub, offering serene retreats for guests. Completing the ground floor's practical elegance is a conveniently located half bathroom, a fully equipped laundry room concealed behind a barn door, and an elevator, ensuring effortless access to all levels.
Step directly from the first floor into the meticulously crafted backyard, designed with entertainment in mind. This outdoor sanctuary features a covered summer kitchen equipped with a grill, ice maker, sink and beverage fridge. Adjacent to this area is a half bathroom, enhancing guest comfort and accessibility during outdoor dining and socializing. The arrangement is flawlessly complemented by an array of outdoor furnishings, making every gathering seamless and enjoyable. At the core of this retreat is an immense heated saltwater pool, complete with a waterfall wall, tanning ledge and built-in concrete stools, creating a tranquil setting for relaxation and fun. The pool area is accompanied by a luxurious spa and a three-hole putting green, offering a mix of leisure activities that cater to all ages. Lush, tropical landscaping and landscape lighting envelop the space, enhancing the resort-like ambiance that makes every stay feel like a luxurious escape.
Guests can ascend to the second floor either via the elevator or by walking up the wooden stairs, passing through a staircase adorned with shiplap accent walls and unique art, adding a whimsical touch to the ascent. Once upstairs, the main hallway captivates with cool, surf-themed decor, including surfboards mounted as striking wall decorations. This level offers three king suites, each individually themed & decorated for comfort and privacy. An additional half bathroom on this floor ensures accessibility and ease for guests. The second living room serves as a sanctuary for relaxation and entertainment, creating the perfect ambiance for gatherings or tranquil evenings that features a pool table, shuffleboard and a beverage fridge. A large covered balcony overlooking the pool area provides a sublime setting for morning coffees or sunset cocktails. Additionally, a small balcony on the front of the house, accessible from both one of the bedrooms and a hallway door, enhances the indoor-outdoor flow and offers multiple vantage points to enjoy the surroundings.
Ascend to the third floor and enter a space designed for entertainment and relaxation. At the top of the stairs, guests are greeted by a vibrant collection of artwork featuring celebrities whimsically reimagined as cats and dogs, can you identify all of them? This level houses a dynamic third living area, complete with a wall-mounted TV, sofa and three arcade games alongside a convenient beverage fridge, making it the perfect spot for family fun and leisure. The third floor also offers three king suites, each providing exceptional comfort and privacy. Each suite is uniquely designed with a walk-in tiled shower, and one includes a separate bathtub, adding a spa-like experience. For additional convenience, this floor includes a full bathroom accessible to guests and six custom twin bunks, thoughtfully integrated to accommodate larger groups or families. Adding to the allure, a large covered balcony with outdoor seating overlooks the pool area. This balcony is accessible directly from one of the bedrooms, offering a private retreat, while other guests can access it from the living area, seamlessly blending indoor luxury with outdoor beauty.
This distinguished property highlights an established rental history, meticulous attention to detail, captivating architectural elements, and a stunning array of carefully curated artwork, creating a vibrant atmosphere. As a top-performing vacation rental with property management and future bookings already in place, this property is not just a residence but a profitable investment, blending sophisticated design with luxury amenities and a proven track record in the rental market.
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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%.
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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.
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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 |
|---|---|---|---|
| Jan 7, 2025 | Sold | ||
| Sold | |||
| Apr 19, 2024 | Listed by Scenic Real Estate | $3,499,000 | |
| Listed by Scenic Real Estate | |||
| Jul 2, 2023 | No longer available | - | |
| No longer available | |||
| May 3, 2023 | Listed by Engel & Volkers Destin | $3,875,000 | |
| Listed by Engel & Volkers Destin | |||
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Welcome to '88 Palms',The pinnacle of vacation homes in Crystal Beach, Destin! This HGTV dream-inspired beach house provides the feng shui and atmosphere to enhance any vacation. Just a short stroll to the beach, this brand new private residence boasts 8 master suites, all with private bathrooms, 3 separate living rooms, billiards table, arcade games, summer kitchen, massive pool with spa, and a 3 hole-putting green! '88 Palms' started its vacation rental journey in February 2022, accomplishing over $287k + in rental revenue (strictly nightly rate; gross income is even higher) for the 2022 calendar year. '88 Palms' also acquired (14) 5-star reviews in 2022 for its family fun Musuem-like artwork throughout. With many repeat travels booked for 2023, '88 Palms' has over $230k in rental revenue on the books, expecting to break over $300k for the 2023 calendar year (strictly nightly rate; gross income is even higher). Understanding the backyard is one of the most critical parts when travelers decide on a home for their next family vacation; careful planning went into the concept. A covered summer kitchen fully equipped with a natural gas grill, ice maker, sink, and beverage fridge, pairs delightfully with the poolside hightop bar tables. The massive saltwater pool comes fully stacked with a sheer descent waterfall wall, tanning ledge, eight-person spa, and 4 built-in concrete stools overlooking a 3 hole putting green. To conclude the design, beautiful tropical landscaping hugs the outskirts and is paired with exciting landscape lighting, creating a resort-like atmosphere. With family meals in mind, a notable chef's kitchen comes outfitted with custom cabinetry, pot filler above the professional gas range, a built-in wine fridge, microwave, ice maker, two dishwashers, and a large island with gorgeous quartz counters that sit 4. The dining area offers two striking wood tables that accommodate 22 total guests. Another vacation favorite is the 2nd-floor billiards room, offering a professional-grade pool table, a shuffleboard table, and a beverage fridge. French doors lead to the expansive covered balconies with comfortable seating for your morning coffee or sunset cocktails.The fun continues on the 3rd and finely floor, offering a stunning 65" Smart TV, a large L-Shaped sofa, and three arcade games (Pac-man, OutRun, and Mortal Kombat). This space also offers a beverage fridge and has open bunks. From its carefully curated design and thoughtful touches, "88 Palms" will undoubtedly be a travel destination for years to come. The manager has listed the unit size as 5058 square feet.
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| Sep 2, 2021 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017