850 Calhoun Ave, Perdido Key, FL 32507

Unique Investment Opportunity or Large Family Home in Perdido Key! 850 Calhoun Ave, Perdido Key, FL 32507

Discover a truly unique and potentially high-yielding property at 850 Calhoun Ave in the desirable Perdido Key area of Florida. Built in 1974, this single-family residence is listed with an astonishing 6 bedrooms and 6 bathrooms within a 1,116 sqft footprint. This unusual configuration suggests it may be a multi-unit property or a structure heavily designed for rental income (e.g., a boarding house setup, or a creative conversion). This property presents an exceptional opportunity for an investor with a vision, or a large family seeking a highly versatile space.

Perdido Key: The Gulf Coast’s Hidden Gem

Perdido Key is a picturesque barrier island located on Florida’s Emerald Coast, renowned for its pristine white sand beaches, tranquil atmosphere, and abundant natural beauty. Living at 850 Calhoun Ave puts you in a highly sought-after area, offering:

• Stunning Beaches & Outdoor Recreation: Enjoy miles of unspoiled shoreline at Perdido Key State Park and Gulf Islands National Seashore, perfect for swimming, sunbathing, fishing, and boating.
• Waterfront Lifestyle: The area is a haven for water enthusiasts, with numerous opportunities for kayaking, paddleboarding, and enjoying the serene bays and bayous.
• Family-Friendly Environment: Perdido Key offers a relaxed, community-oriented atmosphere that appeals to families and those seeking a quieter coastal lifestyle away from the major crowds.
• Proximity to Pensacola: While offering a peaceful retreat, Perdido Key is conveniently located near Pensacola, providing access to larger city amenities, dining, shopping, and employment opportunities.
• Investment Potential: The area is a popular destination for vacation rentals, offering strong income potential, especially for properties designed to accommodate larger groups. Short-term rental data for Perdido Key shows that properties accommodating 8+ guests dominate over 50% of the market, and 5+ bedroom homes saw a 35.7% increase in inventory last month, indicating growing demand for larger rental units.

An Investment with High Potential

Priced at an incredibly attractive $85,000, with an estimated refinance payment of approximately $1,041/month, this property stands out as a remarkable value. The Perdido Key real estate market is currently considered a buyer’s market, with homes staying on the market longer (an average of 98-132 days) and 65% of homes selling under asking price in June 2025. While the overall median home value in Perdido Key is much higher (around $679,900 in June 2025), the extremely low price of this property, combined with its high bedroom/bathroom count, suggests it is likely a distressed asset or requires significant rehabilitation. This creates an unparalleled opportunity for a savvy investor to acquire a property at a fraction of typical Perdido Key prices.

Important Note: The listed 6 bedrooms and 6 bathrooms within 1,116 sqft is highly unusual for a single-family home. This configuration often points to a property that has been divided into multiple rental units or needs significant structural and/or system overhauls. Buyers are strongly advised to conduct thorough due diligence, including a comprehensive inspection, to understand the exact layout, condition, and potential of this unique property. However, for those willing to invest the effort, the potential for high rental income in a desirable vacation destination like Perdido Key could be substantial. Top-performing short-term rentals in Perdido Key can achieve over $7,861+ monthly revenue, especially in peak season.

Don’t miss this rare and intriguing opportunity to capitalize on a potentially high-return investment in beautiful Perdido Key! Schedule your private showing today and explore the possibilities.