Coastal luxury abounds at this magnificent five-bed, five-bath WaterColor home that overlooks a pretty pocket park. Surrounded by mature trees, this peaceful beach retreat sits on an oversized corner lot that includes a carriage house above the two-car garage. The spacious front porch is the perfect place to relax and savor gentle gulf breezes. Entertain with ease in the elegant dining room and family room, both with accent walls featuring vertical shiplap. Dual aspect sash windows provide views of the rear yard and greenery. The kitchen is a chef's delight with ample storage, a generous pantry, dual sinks and stainless appliances. Rustle up snacks and gourmet meals at the center island butcher's block which is ideal for food prep. Stools are lined up at the bar for happy hour cocktails. This well-planned home has a first-floor guest suite for those looking for step-free living. There's also a built-in bunk room with a bathroom on this level. Additional bedrooms on the upper floor include a second master suite, guest bedroom and additional built-in bunk space. Independent guests can enjoy their own private space in the charming one-bed carriage house. It has a kitchenette, a compact dining/sitting area with updated furniture and a private bathroom with a pretty tiled shower. The garage below has ample space for two vehicles or storing a golf cart, bicycles and beach chairs. Designed for outdoor entertaining, it features a generous wraparound porch and a cozy outdoor fireplace in the courtyard adding a warming glow on cooler evenings. It all creates a wonderful home for extended families, or for use as a short-term vacation rental home in one of South Walton's finest coastal communities. Kids can enjoy all the fun of Camp WaterColor with its lazy river just three blocks from the door. Tennis and pickleball courts are just a short walk or golf cart ride away along with community pools, green parks and access to the outstanding white sandy beach.