Live the Gulf Life on Florida’s Emerald Coast

Beach House

57 Penelope Street

Miramar Beach, FL 32550

MLS#: 967315

$2,400,000

Status: Closed
Listing number: 967315
Listing provided by: Compass
Listing agent phone: None
Last update: N/A
On site: 1 year, 6 months ago
Browse Properties
FRANGISTA BEACH 2ND ADDN - Residential

Property

Beds

8

Full Baths

7

1/2 Baths

1

Year Built

2022

Sq.Footage

3,707

Welcome to Funky Flamingo located at 57 Penelope Street in Miramar Beach, Florida. This custom-built beachside mansion is located 0.4mi away from a community beach access and grossed over $200,000 in short term rental revenue in 2024 and has projections of $224,000 for 2025 from the current manager. Funky Flamingo boasts 8 bedrooms, 7.5 bathrooms, and over 3,700 heated & cooled square feet. This custom-built masterpiece has unique and exceptional outdoor spaces that set it apart from other vacation rental-style properties in the area: Funky Flamingo has a covered, screened-in outdoor patio & entertainment space complete with a stainless steel gas kitchen and a covered, outdoor living room furnished with a television plus seating for 14 people. The entertainment and outdoor kitchen area connects seamlessly to the 30'x12' heated pool & spa. Crowning the home is a third story screened-in sunset deck complete with a retro-themed arcade & entertainment room that provide a relaxing space to enjoy our stunning coastal sunsets. The home's open floorplan is perfect for comfortably entertaining large groups, and the chef's kitchen is framed with chic nickel-gap shiplap and adorned with high-end stainless steel appliances. A bedroom with a king-sized bed and full ensuite bath on the first floor ensures a mobility-friendly floorplan, and the seven additional bedrooms on the higher floors are both spacious and elegant. One unique aspect about this floor plan that I love is each floor having a dedicated entertainment or relaxation space; the first floor has the spacious living room & outdoor entertainment area, the second floor has a cafe-inspired sitting area complete with a dining table & coffee bar, and the third floor has a retro arcade trimmed out with a full kitchenette & wet bar. This home is centrally located within minutes of world-class shopping & dining at Grand Boulevard, Baytowne Wharf, Sandestin Outlet Mall, or the Destin Commons. It's also less than 10 minutes from Scenic Highway 30a, Topsail State Park, and Sacred Heart Hospital. 57 Penelope Street is located in Frangista Beach Phase II, a gated subdivision with a dedicated, gated beach access located less than half a mile away at the intersection of Scenic Highway 98 and Hollywood Street.

Features & Amenities

Interior

  • Other Interior Features

    Vaulted Ceiling(s), Recessed Lighting

  • Total Bedrooms

    8

  • Bathrooms

    7

  • 1/2 Bathrooms

    1

  • Heating YN

    YES

  • Heating

    Natural Gas

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Frame

  • Other Exterior Features

    Outdoor Grill, Balcony, Private Yard, Outdoor Kitchen

  • Patio and Porch Features

    Deck, Patio, Covered, Enclosed

  • Pool

    Yes

  • Pool Features

    Heated, In Ground, Private

Area & Lot

  • Property Type

    Residential

  • Property Sub Type

    Single Family Residence

  • Architectural Style

    Beach House

Price

  • Sales Price

    $2,400,000

  • Tax Amount

    $17,129

  • Zoning

    Resid Single Family

  • Sq. Footage

    3,707

  • Price/SqFt

    $647

HOA

  • Association

    YES

  • Association Fee Includes

    N/A

School District

  • Elementary School

    Destin

  • Middle School

    Destin

  • High School

    Destin

Property Features

  • New Construction

    NO

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Walton

Elementary School

Destin

Middle School

Destin

High School

Destin

Listing Courtesy of Caleb A Spears, Compass

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REALTOR®

Elizabeth Young

Call Elizabeth today to schedule a private showing.

(917) 596-5838

Elizabeth@GulfLifeGo.com


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Welcome to Funky Flamingo located at 57 Penelope Street in Miramar Beach, Florida. This custom-built beachside mansion is located 0.4mi away from a community beach access and grossed over $200,000 in short term rental revenue in 2024 and has projections of $224,000 for 2025 from the current manager. Funky Flamingo boasts 8 bedrooms, 7.5 bathrooms, and over 3,700 heated & cooled square feet. This custom-built masterpiece has unique and exceptional outdoor spaces that set it apart from other vacation rental-style properties in the area: Funky Flamingo has a covered, screened-in outdoor patio & entertainment space complete with a stainless steel gas kitchen and a covered, outdoor living room furnished with a television plus seating for 14 people. The entertainment and outdoor kitchen area connects seamlessly to the 30'x12' heated pool & spa. Crowning the home is a third story screened-in sunset deck complete with a retro-themed arcade & entertainment room that provide a relaxing space to enjoy our stunning coastal sunsets. The home's open floorplan is perfect for comfortably entertaining large groups, and the chef's kitchen is framed with chic nickel-gap shiplap and adorned with high-end stainless steel appliances. A bedroom with a king-sized bed and full ensuite bath on the first floor ensures a mobility-friendly floorplan, and the seven additional bedrooms on the higher floors are both spacious and elegant. One unique aspect about this floor plan that I love is each floor having a dedicated entertainment or relaxation space; the first floor has the spacious living room & outdoor entertainment area, the second floor has a cafe-inspired sitting area complete with a dining table & coffee bar, and the third floor has a retro arcade trimmed out with a full kitchenette & wet bar. This home is centrally located within minutes of world-class shopping & dining at Grand Boulevard, Baytowne Wharf, Sandestin Outlet Mall, or the Destin Commons. It's also less than 10 minutes from Scenic Highway 30a, Topsail State Park, and Sacred Heart Hospital. 57 Penelope Street is located in Frangista Beach Phase II, a gated subdivision with a dedicated, gated beach access located less than half a mile away at the intersection of Scenic Highway 98 and Hollywood Street.

57 Penelope Street

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