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NY Post
New York Post
18 Jul 2023


NextImg:Buying this Florida home could earn you $1M a year in rental income

If you’re looking to make some true bank on a luxury vacation rental, especially in the hot state of Florida, this listed home comes seriously social media-approved.

Indeed, this new listing in Florida could net you more than a million bucks a year in rental income.

“It has the potential to rent for more than $50,000 for a week’s stay,” said listing agent Jonathan Spears. Spears, the founder of Spears Group, represents the seller of 8364 East County Highway in Inlet Beach. This $22 million beach house — which has already racked up 17 million views on TikTok since its video tour went viral in June — is halfway between Destin and Panama City on Florida’s Gulf Coast.

Spears told The Post that this stretch of Scenic Highway 30A — the self-proclaimed “Hamptons of the South” — is home to everyone from corporate executives to country music stars. That said, for $14.95 million you can move into Luke Bryan’s luxurious coastal estate, located just 4 miles down the road.

But if owning an Airbnb or a VRBO rental is your goal, it’s best to go with the much bigger 8364 East County Highway.

@gavrenn

The Most Expensive Home on 30A @Jonathan Spears

♬ original sound – Gavren Dochterman

With nine bedrooms, 10 bathrooms and enough entertaining space to host a Mormon family reunion, this 7,966-square-foot pad is the perfect place to party. The 2,140-square-foot attached garage can hold nine cars, and the house sits on a .61-acre lot complete with a gated private parking court.

In fact, the whole property is behind bars.

“The gated aspect of the home is so unique and provides a private enclave that creates interest and exclusivity to allow viewers ‘behind the gates,’” said Spears. He’s banking on 30A being the next emerging luxury market.

The house was designed by Allison Ramsey Architects, a South Carolina-based firm that designed the 1998 HGTV Dream Home.

The home is massive, with nearly 8,000 square feet of space.
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With prime water frontage, it's no shock this home went viral online.

With prime water frontage, it’s no shock this home went viral online.
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The home additionally includes plenty of space for indoor/outdoor entertaining.

The home additionally includes plenty of space for indoor/outdoor entertaining.
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A view of the infinity-edge pool later in the day.

A view of the infinity-edge pool later in the day. This splashy amenity also has a swim-up bar.
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Towering four stories over the sand, it looks like a sitting duck, especially during hurricane season. But Spears insists that it’s built to withstand Mother Nature at her worst. Think glass that can survive 150-mile-per-hour gale-force winds, concrete block construction and plenty of pilings on the ground level.

The house also sits at a whopping 30 feet above sea level.

“It’s one of the highest elevations along the Gulf of Mexico from Mexico to the Florida Keys,” said Spears, for what it’s worth.

This property also has 69 feet of linear gulf frontage. In layman’s terms, it comes with a private beach.

Guests have plenty of space for lounging during their stay.

Guests have plenty of space for lounging during their stay.
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The bedrooms look out to watery views.

The bedrooms look out to watery views.
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Another view of the property, which is along a prime stretch of coastline.

Another view of the property, which is along a prime stretch of coastline.
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The seller, a prominent local developer who prefers to remain anonymous despite commissioning such a head turner, originally built the house as a legacy spec project. Spears’ favorite feature is the infinity-edge pool with its swim-up bar.

“It’s over 65 feet in length and allows endless views over the emerald waters of the Gulf of Mexico,” said Spears. The home also has a hot tub and an elevator that can fit two to three people.

Then there’s the chef’s kitchen. It’s complete with quartzite countertops, custom cabinetry, a Wolf gas range and Sub-Zero refrigeration — a must for the Sunshine State. And because behind every good chef is an even better butler, the butler’s pantry has a refrigerator, a dishwasher, wine storage and plenty of prep space.

The upper floors, meanwhile, boast three-bedroom suites with indoor and outdoor living areas, including private balconies with sunset views. Property taxes are estimated to come in at just less than $25,000 a year.

It sounds like a serious chunk of change. But remember, if you crash in your car so you can list this beach home on Airbnb for the $7,000-plus a night Spears thinks it’s worth, you can easily make $25,000 on a long weekend.

Just make sure you screen your guests. These days one bad review is all it takes to go from super host to super toast.