293 Sunset Bay UNIT 29B, Miramar Beach, FL 32550 (MLS# 969085)

Supplements: Property Snapshot " 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, groun ... (Read more) Property Snapshot " 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.