Investor Alert! This stunning 5-bedroom, 3.5-bath home in Frangista Beach offers exceptional vacation rental potential with NO HOA fees and a short walk to private, deeded beach access (with gate code). Located in the heart of Miramar Beach, you're just minutes from top-rated restaurants, shopping, and entertainment—making this a highly desirable rental location. The open-concept main living area features a modern kitchen with granite countertops and stainless steel appliances, ideal for hosting guests. Downstairs, you'll find a lock-out mother-in-law suite with a private entrance, full bathroom, and closet—perfect for multi-family bookings or added rental flexibility. The first floor also includes a spacious living room, half bath, and access to the private pool, providing a resort -style experience for guests. Upstairs, the master suite boasts a private balcony overlooking the pool, accompanied by two guest bedrooms, a bunk room, and a full bathoffering comfortable accommodations for large groups. Whether you're looking for a profitable short-term rental or a personal beach retreat with income potential, this home checks all the boxes.