Revenue Projections for Vacation Rental Condos in and around Destin
Have you ever dreamed of owning a Destin condo or vacation rental home at the beach? Second home ownership can be a great investment as well as a place to create family memories now and for generations to come. By placing your beach home or Destin condo on a rental program, you’ll enjoy supplemental income to help underwrite costs while having your own piece of paradise to enjoy time with family and friends at the beach.
Newman-Dailey real estate agents are experts at helping clients find the perfect property for their lifestyle and budget. In addition, our property management team has been managing South Walton and Destin vacation rentals for more than 38 years and REALTORS value our conservative projections that allow clients to make smart choices. While there are many real estate options, we’ve compiled a sampling of vacation rental projections at some of South Walton and Destin's most popular resorts.
Revenue Potential for a Destin Condo Rental
The revenue potential of Destin condo rental can vary greatly depending on the location, age of the resort and condition of the condo itself. At Jade East Towers, a Gulf-front condominium resort in Destin which features two- and three-bedroom units, ranges from $75,000 to $118,000. This Gulf-front condominium features attractive amenities including a Gulf-front pool and whirlpool, a tennis court, a grilling station, picnic tables, and a clubhouse. In 2022, the average three-bedroom condo earned $118,950 while the average two-bedroom generated $75,275. In 2023, the average three-bedroom condo is projected to earn $95,033 and the average two-bedroom condo is projected to generate $76,247. (Note: The condition of the rental, location, and market conditions can greatly impact a rental's revenue potential.)
Revenue Potential for a Miramar Beach Condo Rental
As with Destin rentals, the revenue potential for a vacation rental in Miramar Beach can vary greatly. At Mediterranea along Scenic 98 and within walking distance to Pompano Joe’s restaurant with private beach access ranges from $47,000 to $78,000 annually for a two-bedroom rental. Mediterranea features lush landscaping, a large pool (heated seasonally), a whirlpool, a fitness center, a clubhouse, and underground parking. In 2022, one of the top-producing two-bedroom rentals grossed $78,885 while the lowest-grossing two-bedroom condo earned $50,543. In 2023, after the market correction, the highest grossing two-bedroom is projected to earn $67,496 while the lowest-producing rental is projected to generate $47,784.
Revenue Potential for a 30A Condo Rental
For those who have dreamed of owning a vacation rental off popular Scenic Highway 30A will want to weigh the option of selecting a master-planned community such as Seaside with a quiet neighborhood such as Grayton or Blue Mountain Beach. Those who opt for the latter may want to consider Sanctuary at Redfish in Blue Mountain Beach or San Remo in Santa Rosa Beach. Sanctuary at Redfish is a luxury condominium resort located on approximately 14-acres overlooking one of South Walton's rare coastal dune lakes and features four separate pools, two Jacuzzis, a large fire pit, two outside grills, and private pool cabanas. With three and four-bedroom units rental projections vary greatly. For example, a top-producing 3-bedroom, first-floor unit grossed $51,294 in 2022, and is projected to gross $39,280 in 2023. (Note: Be sure to review all HOA rules before making a purchase. At Sanctuary at Redfish, HOA rules require a minimum of 4-night stays--greatly impacting income by not allowing weekend rentals.) At San Remo, a gated, condominium resort near Gulf Place, the top-producing 3-bedroom condo earned $67,308 while the top-producing two-bedroom earned $61,024 in 2022. In 2023, the three-bedroom is projected to earn $63,505 and the two-bedroom is projected to generate $60,859.
It is important to note that these are simply projections based on top-producing vacation rentals at a variety of luxury condominiums along the Emerald Coast. These income levels can vary greatly by year depending on market conditions and current events. Buyers will want to request a projection from a reputable vacation rental company for a specific condo before making a purchase. Click here to view condominiums for sale.
Not ready to purchase a condo yet? View our premier vacation rentals online, including rentals at the above resorts, or call one of our friendly vacation specialists at 1-800-225-7652 to find the perfect rental for your group.
See you @ the beach!
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12815 Highway 98 W Suite 100, Miramar Beach, FL 32550 US
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