$599,000

Value-add opportunity in the heart of Seascape Resort. This 3-bedroom, 2-bath, 1,546 sq ft residence at 122 Stewart Lake Cove offers two private balconies with lake and Gulf views, steps from the beach and Seascape's amenities. Open living area, split-bedroom layout, and in-unit laundry. Priced to reflect condition, this is… Read More an honest, numbers-first listing for the buyer who sees potential rather than one who wants a staged illusion. A licensed local contractor, Destination Builders Group LLC (Lic. CGC1517400), has already scoped a full bathroom renovation at approximately $42,000, giving buyers a real, quoted path to updating the home rather than a guess. The identical floorplan next door, Unit 279, sold for $664,000 in July 2025 in better cosmetic condition, real documented upside for a buyer ready to execute. New HVAC installed June 2025 removes a major capital item from any renovation budget. Verified rental income history (host payout statements, 2024 through 2026) available on request for investor buyers evaluating cash flow and post-renovation projections. Nearby Grove redevelopment adds long-term neighborhood upside. Seascape Resort offers golf, tennis, resort-style pools, and deeded beach access. Sellers are motivated and realistic about condition, and this listing is built on full transparency: what you see is what you get, and the numbers hold up under scrutiny. Bring your vision, the math already works here. Schedule your showing today. The Property: 3 bed/2 bath, 1,546 sq ft, two private balconies with lake and Gulf views, in the heart of Seascape Resort -- one of Miramar Beach's most established gated communities, with deeded beach access, golf, tennis, and resort-style pools. The Condition: This unit needs cosmetic updating -- recent showing feedback confirmed as much, and we're not pretending otherwise. What it also has is a licensed contractor's scoped bid in hand: Destination Builders Group LLC (Lic. CGC1517400) has quoted a full bathroom renovation at approximately $42,000, or a minimal primary-bath-only scope at $10,788 if your buyer wants just the essential fix. That bid is available for your buyer's review. The Comp: Unit 279, the identical floorplan two doors down, sold for $664,000 in July 2025 -- in noticeably better cosmetic condition than this unit. That gap is the opportunity: a buyer who executes the renovation is working from a real, verified ceiling, not a hopeful one. The Income: For investor buyers, we have three years of verified host payout statement income -- $73,811 (2024), $55,262 (2025), and 2026 tracking flat with 2025 through actuals plus confirmed bookings. New HVAC installed June 2025 removes one major capital item from any renovation budget. Full underwriting package, including post-renovation income projections, available on request. The Sellers: Motivated, realistic, and easy to work with. This is a listing where full transparency works in your buyer's favor -- we'd rather you know the real numbers now than find a surprise in due diligence. Read Less

Courtesy of Scott Martineau, RE/MAX Coastal Properties, 850-420-7200

Listing Snapshot

Days Online

515

Last Updated

Sep 4, 2026

Beds

Year Built

1985

MLS Number

973196

Additional Details

Appliances & Equipment

Cooktop, Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer

Building

Built in 1985, 2 stories

Community

8 units in community, Short Term Rental - Allowed, Pickle Ball, BBQ Pit/Grill, Beach, Deed Access, Exercise Room, Fishing, Gated Community, Golf, Pets Allowed, Playground, Pool, Tennis, TV Cable, Waterfront

Cooling

Central Air

Exterior Features

Patio/Porch Features: Patio Enclosed, Balcony

Floors

Floor Hardwood

Home Owner's Association

Fee Includes: Accounting, Ground Keeping, Insurance, Internet Service, Legal, Management, Master Association, Security, Water, Cable TV, Trash

Interior Features

Ceiling Vaulted, Kitchen Island, Owner's Closet, Washer/Dryer Hookup

Pool

Pool Type

Property

Construction Complete

Sewer

Public Sewer

Taxes

Parcel Number: 29-2S-21-42760-000-0278, Annual Amount: $5,449.19, Assessed Value: $1,727, Legal Description: UNIT 278 SEASCAPE CONDO PH 7 SUBPHASE 1 & AN UNDIVIDED INTEREST IN COMMON ELEMENTS AS REC IN OR 341-694 OR 857-68 OR 1506-294 OR 2494-1278 OR 2906-96 OR 3033-561 OR 3215-789, Year: 2024

Utilities

Electric, Public Water

Windows

Plantation Shutters, Window Treatment All

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122 Stewart Lake Cove UNIT 278

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