$2,312,000
Miramar Beach, FL 32550
MLS# 967315
Status: Sold
8 beds | 8 baths | 3707 sqft
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Property Description
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.
Details
Maps
Documents
Status Change Info
Status: Sold
Under Contract Date: 2025-02-03
Sold Date: 2025-03-11
Sold Price: $2,312,000
Sold Price/SqFt: 623.68
Contract Info
List Date: 2025-01-29
Current Price: $2,312,000
List Price: $2,400,000
List Price/SqFt: 647.42
Listing Board: Emerald Coast
Location Tax and Legal
Area: 15 - Miramar/Sandestin Resort
Street #: 57
Street Name: Penelope
Street Suffix: Street
State: FL
Zip Code: 32550
County: Walton
Project Name/Subdivision: FRANGISTA BEACH 2ND ADDN
Parcel ID: 32-2S-21-42050-00G-0110
General Property Info
Sub-Type: Detached Single Family
Design: Beach House
Apx SqFt(Htd/Cooled): 3707
SqFt Source: County PA Records
Bedrooms: 8
Full Baths: 7
Half Baths: 1
Total Bathrooms: 8
# Stories: 3
Year Built: 2022
Immediate Occupancy: Yes
Garage: No
Carport: No
Driveway Spaces: 5
Pool: Yes
Pool Type: Private
Property Features
Construction Status: Construction Complete
Lot Features: Within 1/2 Mile to Water
Zoning: Resid Single Family
Project Facilities: Short Term Rental - Allowed
Exterior: Balcony; BBQ Pit/Grill; Deck Covered; Deck Enclosed; Fenced Back Yard; Fenced Privacy; Patio Enclosed; Pool - Heated; Pool - In-Ground; Summer Kitchen
Interior: Ceiling Raised; Floor Vinyl; Furnished - All; Lighting Recessed
Appliances: Dishwasher; Dryer; Freezer; Ice Machine; Microwave; Refrigerator; Stove/Oven Electric
Utilities: Electric; Gas - Natural; Phone; Public Sewer; Public Water; TV Cable
Energy: AC - 2 or More; Storm Doors; Storm Windows; Water Heater - Gas; Water Heater - Tnkls; Water Heater - Two +
Bedroom: First; Second; Third
Rooms: Balcony; Bedroom; Screened Porch; Storage
Financing: Conventional; Other
Fees Include: Accounting; Electricity; Ground Keeping; Management
Supplements
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.
Room Information
| Room Name | Level | Dimensions | Length | Width | Dimensions |
| Screened Porch | First | 34 x 10 | 34.00 | 10.00 | 34 x 10 |
| Screened Porch | Third | 21 x 6 | 21.00 | 6.00 | 21 x 6 |
| Bedroom | First | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Bedroom | Second | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Balcony | Second | 21 x 6 | 21.00 | 6.00 | 21 x 6 |
| Bedroom | Second | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Bedroom | Second | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Bedroom | Second | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Bedroom | Second | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Bedroom | Third | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Bedroom | Third | 13 x 13 | 13.00 | 13.00 | 13 x 13 |
| Storage | First | 6 x 4 | 6.00 | 4.00 | 6 x 4 |
Rental projection | Travel Life Vacation 
rental projection | Forever Vacation 
Listing Office: Compass
Last Updated: January - 12 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.