Own the View—And the Income: A Performing Condo at Silver Dunes

In the height of 2020 and 2021, the second-home market experienced a surge unlike anything we had seen before. Along Florida’s Emerald Coast, vacation home sales accelerated rapidly, driven by historically low mortgage rates, a sudden shift toward remote work ,and the renewed importance of lifestyle. Properties moved swiftly, often above asking, and the demand for rental-ready homes was nearly insatiable.

Today, we are operating in a very different environment.

Gross rental figures reached their peak during the early post-pandemic years, but nightly rates and booking volume have since stabilized. Meanwhile, many properties remain priced with 2022 expectations, creating a disconnect between acquisition cost and income potential. As a result, the market is filled with opportunity, but only a select group of properties will truly perform as investments. It is no longer enough to rely on optimistic projections or surface-level comparables. In today’s market, a property must be evaluated on substance, not speculation.

A Real Example That Delivers

Just steps from the Gulf in Destin, this recently listed condominium unit at Silver Dunes checks all the boxes for a hybrid-use investment. This top-floor, Gulf-front condo offers gorgeous views of the water and direct access to the private, low density beach. Its proven strong rental history, desirable location, and walk-out beach access make it a prime candidate for both personal use and income generation.

Listed at $714,900

Proven gross rental income: $74,000 year over year
Estimated annual expenses: $25,088 (HOA dues, utilities, taxes, insurance)
Rental Management expense: $15,540
Net income: $33,372

This model gives a cash buyer a 4.67% return on investment based solely on rental income, with no reliance on appreciation or tax benefits. Even with a buyer choosing to finance, this property has the potential to generate modest positive cash flow—something increasingly rare in today’s 30A market. Factor in the long-term equity gain through principal paydown, potential tax deductions, and steady appreciation, and this becomes not just a lifestyle purchase but a smart portfolio asset with upside.

Interested in this property? Call Ron Hefner at (850) 461-8886. We will be happy to answer any questions you have.

Why This Makes Sense Right Now

Markets move in cycles. Right now, many buyers are waiting on the sidelines, hesitating in the face of higher rates or macro noise. But the opportunity lies in timing. While others are waiting, those with capital are positioning themselves and making decisions. Sellers are negotiable, and rental demand in the 30A and greater Destin corridor remains steady, especially for an updated, well-maintained, and professionally marketed properties.

In a world where portfolios are increasingly abstract, owning real property in a market with daily utility and long-term upside offers something most investments cannot: clarity.

Posted by The Morar Group on June 27th, 2025

Second Home or Smart Investment?