BEDS2
BATHS2 full
SQUARE FEET970
MLS#987354
STATUSActive
PROPERTY TYPEResidential - Condominium
SUBDIVISIONTHE PALMS OF DESTIN
Property Description
Stunningly low price! Own the beach and let it pay you back! This isn't just a condo, it's a turn-key business that comes with sunshine, palm trees, and a zero-stress dress code. Fully furnished with views of the Gulf and priced WELL BELOW comparable units, this resort unit brought in about $60,000 in gross income in 2022, proving that beach life can be both relaxing and profitable.Spend mornings with coffee by one of many lagoon-style pools or walk to the shuttle that drops you at the sand. The resort includes a full gym, tennis, pickleball and basketball courts, playground, restaurant, bar, and coffee shop. Inside, the condo feels fresh and inviting with a king master suite, a second bedroom with twin-over-full bunks, updated flooring, and comfortable coastal furnishings. At a purchase price of $300,000, annual expenses (management, HOA, taxes, insurance, and utilities) average around $30,000, leaving about $30,000 in net income. That equals a 10% cap rate and, with standard financing of 20% down ($60,000) at 8% interest, about $9,000 annual cash flow: a 15% cash-on-cash return on day one.It's the rare mix of lifestyle and numbers that actually make sense. Use it, rent it, or both. This one is clean, proven, and ready to start earning the moment you close.
Property Features
Property Type: Residential - Condominium
Cooling: Central Air
Heating: Central
Home Style: N/A
Taxes: $3,912
Year Built: 2007
Feature Descriptions
Appliances: Dishwasher, Disposal, Dryer, Freezer, Ice Machine, Microwave, Oven Self Cleaning, Range Hood, Refrigerator, Smoke Detector, Smooth Stovetop Rnge, Stove/Oven Electric, Washer, Water Heater - Elect
Association Fee Includes: Ground Keeping, Management, Recreational Faclty
Community Features: Short Term Rental - Allowed, BBQ Pit/Grill, Community Room, Deed Access, Elevators, Exercise Room, Game Room, Handicap Provisions, Pavillion/Gazebo, Picnic Area, Pool, TV Cable, Whirlpool
Days on Site: 172
HOA: Yes
Parcel Number: 00-2S-22-2311-0000-1704
Pool Features: Pool Type
Property Condition: Construction Complete
Rooms Total: 4
Sewer: Public Sewer
Special View Info: Harbor, Gulf
Sub Type: Condominium
Utilities: Electric, Public Water, TV Cable
Room Sizes
Kitchen: 10 X 9 Level - First
Living Room: 26 X 13 Level - First
Primary Bedroom: 13 X 12 Level - First
Bedroom: 10 X 12 Level - First
Local Schools
High School: Destin
Middle School: Destin
Elementary School: Destin
Listed By / Shown By
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Estimated Payment
$ 1,056.00 per month $645.41 Principal & Interest $326.00 Property Tax $84.58 Homeowner's InsuranceChange Payment Information
4203 Indian Bayou Trail, Unit 1704 | MLS# 987354
This condo located at 4203 Indian Bayou Trail, Unit 1704, Destin, FL 32541 is currently listed for sale with an asking price of $290,000. This property was built in 2007 and has 2 bedrooms and 2 full baths with 970 sq. ft. Indian Bayou Trail, Unit 1704 is located in the THE PALMS OF DESTIN subdivision. Search THE PALMS OF DESTIN real estate on www.realtymarkllc.com today.