This property boasts 10 spacious bedrooms and 11 bathrooms, making it the perfect retreat for large families or groups of friends looking to create unforgettable memories together. With the ability to comfortably sleep up to 28 people, your family reunions, friend getaways, or vacation rentals will be a breeze!
Say goodbye to HOA restrictions and embrace the freedom of owning this incredible investment property, which has an impressive rental history. The current rental management company is projecting nearly $400,000 in rental income this year, providing you with a fantastic return on your investment.
As you explore this home, you'll appreciate the exquisite, custom details and beautiful woodwork that elevate its elegance - Tax benefits commonly used by rental owners: depreciation, deductible operating expenses (management fees, maintenance, utilities), and interest deductions can help lower taxable income -- talk with your CPA about how these apply to your situation.
- Flexible ownership strategies: works as a short-term rental, seasonal vacation home, or long-term income property; could fit 1031 exchange or portfolio diversification plans (confirm with your tax advisor).
- No HOA restrictions: more control over rental use, furnishings, and booking platforms.
What makes guests book it
- Location: an easy 3-minute walk to Shunk Gulley and Scenic Highway 30A beaches; nearby ADA-accessible Ed Walline access with restrooms, picnic shelters, and a two-story viewing platform.
- Amenities guests crave: private pool, multiple balconies with Gulf views, roomy living areas on each floor so large groups can spread out and still gather.
- Thoughtful design: custom woodwork and finishes that give the home character and repeat-booking appeal.
Who this fits best
- Investors wanting a high-capacity, high-demand short-term rental with management already in place.
- Buyers seeking a multi-family vacation home that pays for itself during peak season.
- Owners looking for tax-advantaged real estate income (consult your CPA for specifics).
This property blends lifestyle and investment -- beachfront access, big rental revenue, and tax strategies that can improve net returns!
For sale
Price cut: $50K (6/8)
$3,945,000
17 Penny Ln, Santa Rosa Beach, FL 32459
10beds
6,413sqft
Single Family Residence
Built in 2022
0.34 Acres Lot
$-- Zestimate®
$615/sqft
$-- HOA
What's special
Private poolBeachfront accessExquisite custom detailsBeautiful woodwork
- 167 days |
- 257 |
- 15 |
Zillow last checked:
Listing updated:
Listed by:
Cherissa Cabahug 504-289-5400,
1 Percent Lists Florida Coast,
Bryson G Lee 850-238-7565,
1 Percent Lists Florida Coast
Source: ECAOR,MLS#: 992482
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 11
- Full bathrooms: 9
- 1/2 bathrooms: 2
Bedroom
- Description: Bedroom
- Level: First
- Area: 200.2 Square Feet
- Dimensions: 13 x 15.4
Bedroom
- Description: Bedroom
- Level: First
- Area: 207.2 Square Feet
- Dimensions: 14 x 14.8
Bedroom
- Description: Bedroom
- Level: Third
- Area: 280.8 Square Feet
- Dimensions: 23.4 x 12
Bathroom
- Description: Bathroom
- Level: First
- Area: 55.62 Square Feet
- Dimensions: 6.4 x 8.7
Bathroom
- Description: Bathroom
- Level: First
- Area: 63.9 Square Feet
- Dimensions: 7.1 x 9
Bathroom
- Description: Bathroom
- Level: Third
- Area: 84 Square Feet
- Dimensions: 12 x 7
Other
- Description: Balcony
- Level: Second
- Area: 84 Square Feet
- Dimensions: 14 x 6
Other
- Description: Balcony
- Level: Third
- Area: 97.5 Square Feet
- Dimensions: 15 x 6.5
Other
- Description: Bunk room
- Level: Second
- Area: 206.79 Square Feet
- Dimensions: 18.3 x 11.3
Family room
- Description: Family room
- Level: First
- Area: 594.32 Square Feet
- Dimensions: 31.1 x 19.11
Living room
- Description: Living Room
- Level: Second
- Area: 500 Square Feet
- Dimensions: 25 x 20
Living room
- Description: Living Room
- Level: Third
- Area: 280.8 Square Feet
- Dimensions: 23.4 x 12
Heating
- Natural Gas
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Dishwasher, Disposal, Dryer, Freezer, Microwave, Range Hood, Refrigerator, Gas Water Heater, Tankless Water Heater
- Laundry: Washer/Dryer Hookup
Features
- Breakfast Bar, Crown Molding, Vaulted Ceiling(s), Hallway Bunk Beds, Kitchen Island, Recessed Lighting, Pantry, Shelving, Woodwork Painted, Elevator
- Flooring: Tile
- Windows: Window Treatments
- Has fireplace: Yes
- Fireplace features: Gas, Fireplace 2+
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 6,413
- Total interior livable area: 6,413 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage Door Opener
- Attached garage spaces: 2
Features
- Stories: 3
Lot
- Size: 0.34 Acres
- Dimensions: 77 x 100
Details
- Parcel number: 023S20341600000251
- Zoning description: Resid Single Family
- Special conditions: Accept Backup Offers
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Beach House
- Property subtype: Single Family Residence
Materials
- Stucco, Trim Wood
- Foundation: Slab
- Roof: Slate
Condition
- Construction Complete
- New construction: No
- Year built: 2022
Utilities & green energy
- Water: Public
Community & HOA
Community
- Security: Security System
- Subdivision: Penny Lane
Location
- Region: Santa Rosa Beach
Financial & listing details
- Price per square foot: $615/sqft
- Tax assessed value: $3,653,058
- Annual tax amount: $27,854
- Date on market: 1/9/2026
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/8/2026 | Price change | $3,945,000-1.3%$615/sqft |
Source:  ECAOR #992482 Report a problem | ||
| 1/9/2026 | Listed for sale | $3,995,000-7%$623/sqft |
Source: ECAOR #992482 Report a problem | ||
| 1/1/2026 | Listing removed | $4,295,000$670/sqft |
Source: ECAOR #991482 Report a problem | ||
| 12/18/2025 | Listed for sale | $4,295,000$670/sqft |
Source: ECAOR #991482 Report a problem | ||
| 11/14/2025 | Listing removed | $4,295,000$670/sqft |
Source: ECAOR #956267 Report a problem | ||
| 6/23/2025 | Price change | $4,295,000-2.3%$670/sqft |
Source: ECAOR #956267 Report a problem | ||
| 4/14/2025 | Price change | $4,395,000-6.5%$685/sqft |
Source: ECAOR #956267 Report a problem | ||
| 11/22/2024 | Price change | $4,699,000-4.1%$733/sqft |
Source: ECAOR #956267 Report a problem | ||
| 9/5/2024 | Price change | $4,899,999-2%$764/sqft |
Source: ECAOR #956267 Report a problem | ||
| 8/5/2024 | Listed for sale | $4,999,999+49.3%$780/sqft |
Source: ECAOR #956267 Report a problem | ||
| 6/1/2022 | Sold | $3,350,000-1.5%$522/sqft |
Source: ECAOR #874778 Report a problem | ||
| 6/18/2021 | Pending sale | $3,400,000+257.9%$530/sqft |
Source: ECAOR #874778 Report a problem | ||
| 12/10/2020 | Sold | $950,000+216.7%$148/sqft |
Source: Public Record Report a problem | ||
| 10/17/2013 | Sold | $300,000$47/sqft |
Source: Public Record Report a problem | ||
| 2/4/2013 | Sold | $300,000$47/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $31,941 +11.8% | $3,358,651 +10% |
| 2023 | $28,559 +1018% | $3,053,319 +1007.7% |
| 2022 | $2,555 +9.5% | $275,645 +14.3% |
| 2021 | $2,334 -8.5% | $241,087 -5.6% |
| 2020 | $2,549 +3.5% | $255,387 +3% |
| 2019 | $2,463 | $247,984 +3% |
| 2018 | $2,463 +2.9% | $240,785 +3% |
| 2017 | $2,393 +6.9% | $233,772 +18.2% |
| 2016 | $2,239 +13.1% | $197,723 +7% |
| 2015 | $1,979 +5.3% | $184,866 +10% |
| 2014 | $1,879 | $168,112 +68.2% |
| 2013 | -- | $99,946 -29% |
| 2012 | -- | $140,738 -5% |
| 2011 | -- | $148,136 -10% |
| 2010 | -- | $164,596 -52.7% |
| 2009 | -- | $347,959 -15% |
| 2008 | -- | $409,364 -13.5% |
| 2007 | -- | $473,175 +33.2% |
| 2005 | -- | $355,270 +96.7% |
| 2004 | -- | $180,630 +50.7% |
| 2003 | -- | $119,854 +81.4% |
| 2002 | -- | $66,073 |
| 2001 | -- | $66,073 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 32459
Nearby schools
GreatSchools rating
- 10/10Bay Elementary SchoolGrades: K-5Distance: 9.2 mi
- 8/10Emerald Coast Middle SchoolGrades: 6-8Distance: 7 mi
- 8/10South Walton High SchoolGrades: 9-12Distance: 3.6 mi
Schools provided by the listing agent
- Elementary: Van R Butler
- Middle: Emerald Coast
- High: South Walton
Source: ECAOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Florida
- Walton County
- Santa Rosa Beach
- 32459
- 17 Penny Ln
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