293 Sunset Bay #UNIT 29B Miramar Beach, FL 32550
2 Beds
2 Baths
1,110 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 1,110 sqft
Price per Sqft $351
Subdivision Seascape Condo Garden Villa
MLS Listing ID 969085
Bedrooms 2
Full Baths 2
HOA Fees $2,245/qua
HOA Y/N Yes
Year Built 1978
Annual Tax Amount $3,055
Tax Year 2024
Property Sub-Type Condominium
Source Emerald Coast Association of REALTORS®
Land Area 1110
Property Description
" 2 Bed / 2 Bath, 1,110 sq ft, ground floor, no stairs
" Fully furnished, turnkey
" Private covered patio, golf course view
" Primary bath: full renovation, all-new plumbing and finishes
" Kitchen: previously updated cabinetry, countertops, appliances
" HOA: quarterly assessment, includes water, trash, cable, internet, ground keeping, master association, security, sewer, legal
" Short-term rentals permitted
Market Position
" List price is below the $373-397/sqft range recently achieved by comparable updated twin-floorplan units in Seascape
" Comparable sold units for reference: 159 Sunset Bay #23A -- sold $435,000 (Dec 2025)
" 283 Sunset Bay #28C -- sold $415,000 (Mar 2026)
" 764 Seascape #16D -- sold $412,000 (Nov 2025, 12 days on market)
Financial Notes -- Verified (Source: Seller-Provided Cost to Own Sheet + Seller Interview)
" Documented owner net rental income: $42,920 (2022), $32,995 (2023), $34,232 (2024). Three-year average: ~$36,700/year. Data predates the 2025-2026 season; request an updated statement from the rental program for the most current figures.
" Seller confirms these net figures are already after sales/bed tax remittance (~20% of gross). Estimated gross rental revenue: ~$41,000-$54,000/year, averaging ~$45,900/year across the three years.
" Self-management caveat: the seller books and manages the rental themselves -- no third-party management commission has been deducted from the net figures above. A buyer who intends to self-manage can reasonably expect similar economics. A buyer who plans to hire a property manager should underwrite a further reduction for that management fee, since this seller simply didn't pay one.
" Documented annual carrying costs: Seascape Master Association $943.77/quarter + COA Phase 3 $1,394.23/quarter ($9,352/year combined), property taxes $3,055.42/year (2024), electricity ~$1,800/year. Total operating expenses: $14,207.42/year.
" Bottom line for underwriting, confirmed directly with the seller: net rental income does not yet have HOA dues, property taxes, or electricity deducted -- the owner pays those separately out of pocket after collecting rental income. True owner profit nets the two figures against each other: average ~$22,500/year, or ~5.8% unlevered yield on the current $389,900 ask. This is a confirmed number, not an inference -- safe to use directly with a buyer's agent.
" Seller is motivated and open to a fast, clean closing timeline
" Buyer's agent commission: 2.5% co-op, confirmed
Buyer Persona -- Who This Property Actually Wins
This unit is not well positioned to compete for the lifestyle buyer cross-shopping against Seascape's nicest, most-updated inventory -- it will lose that comparison on finish level alone. It is well positioned for a documented-cash-flow investor buyer: someone comparing yield across short-term rental condos, who values a verifiable income history over granite countertops, and for whom ground-floor no-stairs access (easier for renters with beach gear) and a price already below the twin-floorplan comp band are real decision factors. Direct buyer's-agent outreach and any paid promotion should lean toward this audience rather than a general lifestyle search.
Talking Points for Buyer's Agents
" This is the value entry point into this floorplan in Seascape right now -- not the flashiest unit, the smartest number.
" Ground floor means zero stairs and zero elevator wait -- an underrated differentiator for older buyers, renters with luggage, and quick beach access.
" New plumbing behind the primary bath wall is a genuine long-term win most buyers never think to ask about until it's already a problem elsewhere.
" This development is currently a buyer's market (~7 months of supply); this unit is priced meaningfully below the pack, a real argument for a value-driven buyer.
Location
State FL
County Walton
Community Short Term Rental - Allowed, Pickle Ball, Bbq Pit/Grill, Beach, Deed Access, Fishing, Gated Community, Golf, Pets Allowed, Playground, Pool, Tennis, Tv Cable
Area 15 - Miramar/Sandestin Resort
Direction Enter Seascape Resort and follow signs to Sunset Bay and 293. UNIT 29B is on first floor on the left.
Rooms
Primary Bedroom Level Main
Master Bedroom true
Kitchen true
Interior
Heating Central
Cooling Central Air
Flooring Floor Tile
Furnishings Furnished - All
Window Features Window Treatment All
Appliance Dishwasher, Microwave, Refrigerator W/IceMk, Stove/Oven Electric, Water Heater - Elect
Exterior
Exterior Feature Open Deck, Covered Deck
Pool Pool Type
Community Features Short Term Rental - Allowed, Pickle Ball, BBQ Pit/Grill, Beach, Deed Access, Fishing, Gated Community, Golf, Pets Allowed, Playground, Pool, Tennis, TV Cable
Utilities Available Electric, Public Water, TV Cable
Accessibility 4
Porch Deck Covered, Deck Open
Garage No
Building
Faces Enter Seascape Resort and follow signs to Sunset Bay and 293. UNIT 29B is on first floor on the left.
Sewer Public Sewer
New Construction No
Schools
Elementary Schools Van R Butler
Middle Schools Emerald Coast
High Schools South Walton
Others
Pets Allowed No
HOA Fee Include Accounting, Ground Keeping, Insurance, Internet Service, Management, Master Association, Sewer, TV Cable, Water
Tax ID 29-2S-21-42500-000-029B
Virtual Tour https://my.matterport.com/show/?m=iyuvwWn5aME&play=1&qs=0&nt=1&help=2&brand=0&mls=1&
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