Priced at almost 20% below the average square foot price of all listed homes in WaterColor, this home is waiting for buyers that fit many profiles. Never rented and owned by only two families it has been beautifully maintained and recently updated with interior painting, furnishings and an updated kitchen with top of the line appliances. With four king bedrooms and a six bed bunk room - all with ensuite baths, this home will sleep 14 with two additional flex rooms and a full bath. The home has primary suites on the first and second floors. It is situated steps from Camp Watercolor yet located overlooking peaceful views of natural landscape and sunset views from very generously sized porches. Sold fully furnished this home is move-in ready. Drawings for pool available. Two additional bonus rooms with access to a full bath allow more options. Located steps from Camp WaterColor, sunset views from huge porches and plans for a pool, this home has it all
Sold for $3,550,000 on 11/11/25
$3,550,000
138 Red Cedar Way, Santa Rosa Beach, FL 32459
5beds
4,090sqft
Single Family Residence
Built in 2005
-- sqft lot
$3,550,400 Zestimate®
$868/sqft
$6,006 Estimated rent
Home value
$3,550,400
$3.37M - $3.73M
$6,006/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: November 12, 2025 at 05:58am
Listed by:
Bernadette Flannery 850-226-3020,
Scenic Sotheby's International Realty
Bought with:
Outside Selling Member
ECN - Unknown Office
Source: ECAOR,MLS#: 979766
Originating MLS: Emerald Coast
Originating MLS: Emerald CoastFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 6
- Full bathrooms: 6
Primary bedroom
- Features: MBed Balcony, MBed Fireplace
- Level: Second
Primary bathroom
- Features: Double Vanity, MBath Separate Shwr, MBath Tile, Walk-In Closet(s)
Kitchen
- Level: First
Living room
- Level: First
Heating
- Electric
Cooling
- AC - 2 or More, Electric
Appliances
- Included: Dishwasher, Disposal, Dryer, Ice Maker, Microwave, Refrigerator, Gas Range, Washer, Wine Refrigerator, Gas Water Heater, Tankless Water Heater
- Laundry: Washer/Dryer Hookup
Features
- Breakfast Bar, Beamed Ceilings, Vaulted Ceiling(s), Pantry, Split Bedroom, Woodwork Painted, Bedroom, Bunk Room, Dining Area, Kitchen, Living Room, Master Bedroom
- Flooring: Hardwood, Tile
- Windows: Window Treatments
- Has fireplace: Yes
- Fireplace features: Fireplace 2+, Gas
- Furnished: Yes
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 4,090
- Total interior livable area: 4,090 sqft
Property
Parking
- Total spaces: 6
- Parking features: Open
- Carport spaces: 2
- Has uncovered spaces: Yes
Features
- Stories: 2
- Patio & porch: Porch Screened
- Exterior features: Balcony, Tennis
- Pool features: Community
- Has spa: Yes
- Spa features: MBath Whirlpool
- Waterfront features: Beach, Waterfront
Lot
- Dimensions: 62' x 110' x 83' x 109'
- Features: Covenants, Restrictions, Survey Available
Details
- Parcel number: 153S19254150000130
- Zoning description: Resid Single Family
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Frame, Siding CmntFbrHrdBrd
- Roof: Metal
Condition
- Construction Complete
- Year built: 2005
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Phone Connected, Cable Connected
Community & neighborhood
Security
- Security features: Security System, Smoke Detector(s)
Community
- Community features: Community Room, Fitness Center, Fishing, Picnic Area, Playground, Pool, TV Cable
Location
- Region: Santa Rosa Beach
- Subdivision: Watercolor
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $1,510 quarterly
- Services included: Accounting, Maintenance Grounds, Internet, Legal, Licenses/Permits, Management, Maintenance Structure, Security, Trash, Cable TV
Other
Other facts
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 11/11/2025 | Sold | $3,550,000-2.7%$868/sqft |
Source:  ECAOR #979766 | ||
| 10/9/2025 | Pending sale | $3,650,000$892/sqft |
Source: ECAOR #979766 | ||
| 9/17/2025 | Price change | $3,650,000-2.7%$892/sqft |
Source: ECAOR #979766 | ||
| 8/11/2025 | Price change | $3,750,000-5.1%$917/sqft |
Source: ECAOR #979766 | ||
| 6/27/2025 | Listed for sale | $3,950,000+167.8%$966/sqft |
Source: ECAOR #979766 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $24,683 +10.4% | $2,204,598 +10% |
| 2023 | $22,355 +8.2% | $2,004,180 +10% |
| 2022 | $20,661 +23.6% | $1,821,982 +10% |
Find assessor info on the county website
Neighborhood: 32459
Nearby schools
GreatSchools rating
- 10/10Bay Elementary SchoolGrades: K-5Distance: 3.8 mi
- 8/10Emerald Coast Middle SchoolGrades: 6-8Distance: 2.5 mi
- 8/10South Walton High SchoolGrades: 9-12Distance: 4.7 mi
Schools provided by the listing agent
- Elementary: Dune Lakes
- 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.
Sell for more on Zillow
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$3,550,400
2% more+ $71,008
With Zillow Showcase(estimated)
$3,621,408