3BR/3BA · Village of Baytowne Wharf · Units 507 & 509
The Property
Lock-off condo in the heart of Baytowne Wharf
For larger groups, units 507 and 509 rent together for maximum space and comfort. Unit 507 is a studio with 2 queen beds, kitchenette, and full bathroom. It connects to 509, a 2-bedroom, 2-bath condo with a full kitchen, attached laundry, living room with flat-screen TV, and dining area that seats 6 plus 3 at the breakfast bar.
Unit 509 features an oversized balcony accessible from the living room and master bedroom, with loungers, tables, and chairs. Downstairs you have a private community pool, hot and cold spas, fitness center, and BBQ grilling area. Steps away, the Village offers an arcade, adventure park, shopping, and restaurants for all ages.
Master: King bed, en suite (walk-in shower + tub). Guest: Queen bed, en suite (oversized walk-in shower). Studio: 2 Queen beds, kitchenette, full bath. Living area: Sleeper sofa.
2 queen beds, full bathroom with tub/shower combo, kitchenette (mini-fridge, microwave, toaster, coffee maker), flat screen TV.
Getting Here
9300 Baytowne Wharf Blvd, Units 507 & 509 Pilot House at Baytowne Wharf, Miramar Beach, FL 32550
Important: When you arrive at the Sandestin security gate, tell them you're going to Pilot House at Baytowne Wharf. The gate staff sometimes doesn't know the unit by address alone. Drive to the Baytowne Wharf area and look for the Pilot House parking garage directly at Baytowne. Parking is first come, first serve in the garage.
Airports: Destin-Fort Walton Beach (VPS) is about 20 minutes away. Northwest Florida Beaches Intl (ECP/Panama City) is about 45 minutes. Both are easy drives on Hwy 98.
On Arrival: At the Sandestin security gate, tell them you're going to Pilot House at Baytowne Wharf. Park in the Pilot House garage (first come, first serve). Find your unit on the 5th floor. Use the door code from the Codes tab to enter. The lockbox code is also in the Codes tab if needed.
On Departure: Please start the dishwasher, take out trash, and leave used towels in the bathtub. Lock all doors and windows. Leave keys/fobs on the kitchen counter.
Minimum rental age: 25 years. No smoking. No pets.
Beach Gear Included
🏖️
MVH Beach Closet
This property includes a Beach Closet stocked with complimentary beach chairs and an umbrella for your stay. No need to rent or buy! Look for it near the pool area.
Resort Tram
🚌
Free Tram Service
Three color-coded routes across the resort
The complimentary Sandestin Tram runs two continuous loops, stopping every 30 minutes. It connects Baytowne Wharf to the beach, marina, golf courses, tennis center, and all resort neighborhoods. No reservations needed. Just show up at any tram stop.
Current Schedule:
Apr 13 - May 22: Sun-Thu 8:30am-10pm, Fri-Sat 8:30am-12am
May 23 - Sep 6: Sun-Thu 8:30am-12am, Fri-Sat 8:30am-2am
Sep 7 - Feb 28: Daily 10am-10pm (Winter)
📱 Pro tip: Download the free "Explore Sandestin" app (App Store / Google Play) for real-time tram GPS tracking so you can see exactly when the next tram is arriving at your stop.
Dueling piano shows Thu-Sat 7pm-midnight. Sports bar upstairs with patio overlooking Events Plaza.
🍕 Hammerhead's Bar & Grille
Dockside on the bay
Fried baskets, steamed seafood, burgers with live music. Family/pet friendly. Happy hour 4-6pm.
🍹 Fat Tuesday
Famous New Orleans daiquiris
Frozen concoctions like 190 Octane and the Hurricane. Wings, snacks, flat-screen TVs.
💃 The Village Door
Award-winning dance venue
Best place to dance on the Emerald Coast. Free drinks Fri & Sat 8:30-9:30pm.
Local Favorites (Off Resort)
🥩 Bijoux
Fine dining, The Market Shops · $$$$
Award-winning coastal cuisine with a New Orleans flair. Gulf seafood and prime steaks, white tablecloth elegance. Perfect for a special night out. Reservations recommended.
🥦 Emeril's Coastal Italian
Grand Boulevard · $$$
Emeril Lagasse's only Florida restaurant. Locally sourced, inventive seafood in a casual coastal retreat setting. Great for date night or larger groups.
Authentic Italian with a Chicago soul. Wood-fired pizza, killer Chicken Alfredo and Spaghetti Bolognese. Cozy checkered tablecloth family vibe.
🌴 Tommy Bahama
Grand Boulevard · $$$
Upscale tropical dining with outstanding happy hour. The Ahi Tuna Nachos and coconut shrimp are standouts. Great patio seating.
🍳 Another Broken Egg Cafe
Grand Boulevard · $$
Best breakfast/brunch in the area. Creative egg dishes, Southern-inspired specialties, and fantastic Bloody Marys. Expect a wait on weekends (worth it).
🔥 Ovide (Hotel Effie)
Sandestin Resort · $$$
Chef Hugh Acheson's (Top Chef) modern Southern cuisine. Elevated comfort food in a luxurious setting. On-resort but feels like a destination.
🥠 Mezcal Mexican Grill
Sandestin Blvd · $$
Best margaritas in the area. Excellent Chicken Quesadillas and Pork Belly. Lively atmosphere with great happy hour specials.
What each section means, top to bottom:4 tiles — this year vs. last year, colored arrow shows ahead/behind, tap any tile for full history back to 2020. Forward Pipeline — what's already booked for the rest of this year vs. the same months last year. 💰 If We Sold Today — the actual investor scorecard: market value minus what's owed minus what the three of you have put in. Mortgage and capital update themselves; you set the value. Owner Brief — the plain-English read on performance plus this period's action items. Charts — this year's monthly shape vs. last year's. P&L / Carrying Costs / Ownership P&L — the accounting behind the headline numbers; the second table has a Qtr/YTD/1–5yr/All selector. Annual History — every year since purchase, side by side. Per-Owner Tax View — each owner's gross share and the 14-day personal-use test. Yearly Detail — tap any year for month-by-month bars and quarter totals. Market Check / Findings & Playbook — how our rates compare and the specific moves to close the gap. Owner Split / Deposits — who got paid what, and the bank-side log. Ask KENBO (the floating 💬) — ask about anything above in plain English, or drop a statement file and it updates the data itself.
⚠️
Data is days old — last updated through . At least one statement has passed without updating.
Open Ask KENBO → tap 📎 → drop a UKFCU CSV or MVH statement. Under 2 minutes.
Open Ask KENBO (💬 button), enter the owner PIN, tap 📎, drop the file.
Review the parsed data card and tap “Add to sheet.” Done.
Do this once a month, first week. Overlapping date ranges are safe — the assistant deduplicates automatically.
Forward Pipeline📌 FIXED
💰 If We Sold Today🔄 MIXED· value − mortgage − capital in
Owner Brief
Our own history sets the benchmark: cash-verified gross of roughly $46.5K in 2021 and $44.3K in 2022 (right at the Baytowne comp range), sliding every year since to $25.2K in 2025, a 46% decline under the same manager. 2026 has stabilized ($25.7K booked, margin up to 73% on Track) but still sits at barely half of our proven 2021–22 level. The gap concentrates in three places: rate, an empty winter, and abandoned split-listing. Carrying costs run ~$66K/yr; ~$19.6K/yr of any gap returns to us as mortgage principal. (2021–23 figures pending 1099 confirmation; Escapia statements from those years double-printed totals.)
Action Items
1. MVH channel + pricing audit meeting (Chris → MVH PM, by Aug 15): where we're listed, which pricing tool, why realized ADR runs 55–75% of rack.
2. Enroll 509 in MVH's snowbird program for Nov–Feb: ~$2,400–2,900/mo, 28+ night minimum, reduced long-stay commission (by Sep 1; winter books Aug–Oct).
3. Restore split-listing of 507 and 509 outside Jun 13–Jul 25 and spring break (by Sep 1).
4. Reprice August 2027 as shoulder season in the new rate calendar (by Oct 1).
5. Owner use and the nights limit: personal use is part of the return, since we carry ~$66K a year either way, and an off-season night costs the rental pool almost nothing. The governing rule is IRC §280A: combined personal use by all three owners should stay at or under the greater of 14 nights or 10% of nights rented, which lands near 14 nights total for the property in a typical year. Three ways a night does not count against that limit:
• Maintenance days. Time spent substantially full-time on repairs or upkeep is excluded outright, even with family present. Note what was done and when.
• Paid stays by extended family or friends. Nephews, nieces, cousins, aunts and uncles fall outside the immediate-family definition, so a stay they pay fair rental for is a rental night, not personal use. It also raises the limit, since it adds to the rented-nights denominator.
• Charge from the MVH quote, and keep it. Pull the live MVH quote for those exact dates, discount it for the services not being provided (no commission, no booking platform), and log both numbers. A direct-booking discount is ordinary practice; what makes it defensible is the contemporaneous quote sitting next to the amount collected. Log every stay on the OwnerStays tab, including the quote. Timing: never book Jun 13–Jul 25, Mar 6–19, or Memorial Day week. Best windows are Sep 8–Dec 15 and Jan 6–Feb 28 (check Thanksgiving, it sometimes rents), with late-April to early-May midweeks a reasonable second choice at roughly $75/day displaced. Ask KENBO to price displacement for exact dates.
6. Targets: H2 2026 gross ≥ $10K; ≥ 60 winter nights or ≥ $9K booked by Dec 1; 2027 ≥ $38K. Review Feb 2027; RFP the management contract if missed.
7. Gap-fill revenue: instruct MVH to offer any departing guest an extension at 50% of the posted nightly rate whenever 1–3 open days exist before the next arrival, especially weekday gaps in shoulder season. A $200/night combo gap night becomes $100 at near-zero marginal cost. Raise this as a standing MVH policy at the Aug 15 meeting.
8. Investigate the Escapia discrepancy: 2021–2023 statements print Unit Totals at exactly double the amounts disbursed. Ask MVH in writing: “We grossed about $46K with you in 2021 and are at just over $25K today — walk us through the decline, year by year. Separately, explain in writing why your 2021–2023 statements show totals at exactly double what you paid us.” The answer may affect three years of tax filings for all three owners.
Gross Revenue by Month⚡ AUTO
Occupied Nights by Month⚡ AUTO
P&L Summary📌 FIXED
Account P&L · all three owners
Line2025 Full Yr2026 thru Jun
Gross room revenue$25,238$15,407
Management commission (23%)($5,805)($3,544)
Housekeeping / owner cleans($1,080)($175)
Maintenance & work orders($566)($318)
Lock & transition fees($670)($96)
Net to owners$17,117 · 67.8%$11,275 · 73.2%
Per owner$5,706 each$3,833 / $3,721 / $3,721
2025 ties to the three 1099s ($8,412.58 × 3 = $25,237.73 gross) and the Escapia + Track statements. 2026 is from Track statements through June; July gross of $5,933 posts on the July statement. Splits: 2025 equal thirds; 2026 forward 34/33/33.
Carrying Costs📌 FIXED
Current monthly run-rate (all owners)
Mortgage · Renasant 15yr @ 3.375%$2,100.97
Gateway HOA · Virtuous Mgmt$1,349.60
Baytowne Wharf Neighborhood Assn$147.19
Sandestin Owners Assn$162.49
Electric (avg)$153.00
Insurance · Safe Harbor (avg)$197.75
Fixed monthly total$5,093.63
Add ~$4K/yr property taxes and ~$1.8K/yr quarterly assessments: ≈ $66K/yr all-in cash. Of the gap rental income doesn't cover, ~$19.6K/yr is mortgage principal (equity we keep), so the true economic cost is ≈ $26K/yr, about $8.7K per owner, before valuing personal use. Actual total expenses by year appear in the table below.
Ownership P&L (all-in)📌 FIXED
Annual History📌 FIXED
Per-Owner Tax View⚡ AUTO
Yearly Detail⚡ AUTO
Market Check📌 FIXED
Achieved ADR (2026) vs Posted Summer Rack
3BR Combo 507/509achieved $207/ntrack $361
2BR 509achieved $153/ntrack $261
Studio 507achieved $101/ntrack $161
Reference points: KENBO itself grossed about $46.5K (2021) and $44.3K (2022) cash-verified, then $34.1K (2023), $32.5K (2024), $25.2K (2025), with $25.7K booked for 2026 as of late July. A Baytowne comp (Lasata) is marketed with $51K of 2025 rental income, and Pilot House lockouts have historically been listed with $42K–$67K annual rental projections. Realized rates run 55–75% of our own rack, and July ADR came in below June. With split-listing, dynamic pricing, and a winter program, a realistic target is $38–48K gross (estimate). Every gross dollar flows ~73–77% to owners. Want today’s numbers? Ask KENBO below — it can web-search live Baytowne comp rates and listings on demand.
Findings & Playbook
1. Winter is a dead zone. October–February runs 1–8 nights per month; November and December 2025 grossed $0.
2. Snowbird works here. The only full winter month ever (Jan 2024) was a single 35-night stay in 509. Plan: list 509 monthly Nov–Feb at ~$2,400–2,900/mo, 28+ night minimum, reduced long-stay commission.
3. The August cliff. 46 nights in Aug 2023, then 10–18 every year since (school calendars moved). August should be priced as shoulder, not peak.
4. Split-listing won before. Our best year (2023) rented 507 and 509 separately for 130 nights. Restore split-listing outside Jun 13–Jul 25 and spring break.
5. Owner weeks: take them Sep 8–Dec 15 or Jan 6–Feb 28 (near-zero revenue impact). Avoid Jun 13–Jul 25 and Mar 6–19.
Expected gross per calendar day · 2026
$14
Jan
$29
Feb
$76
Mar
$77
Apr
$78
May
$236
Jun
$191
Jul
$81*
Aug
$30*
Sep
$0*
Oct
$32*
Nov
$0*
Dec
*On the books as of Jul 27, 2026. This is what an owner week "costs" the rental pool, per day, by month.
Owner Split & Payouts⚡ AUTO
Deposits (UK FCU)⚡ AUTO
Notes & Sources
Gross = room revenue before commission, recognized in month of departure (matches Track statements). Net = ACH payments to all three owners combined. Nights = whole-property occupied nights across 507, 509, and the 507/509 combo (guest + owner). 2022–2024 dollar figures were not carried over in the Escapia→Track migration; nights for those years come from imported reservations. Sources: haven.trackhs.com owner portal (statements + reservations export) and UK FCU deposits. Update cadence: monthly, first week, via the Performance and Deposits tabs in the KENBO App Data sheet (kenbo Drive folder). P&L, market check, and playbook reflect statements and analysis through Jul 27, 2026.
Ask KENBO
Your Sandestin concierge
KENBO Pilot House · Sandestin Resort · v5.6 Data refreshed: