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1 Shell Key
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 9, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Jul 8, 2026 | Listed by XL Legacy International | $1,594,000 | |
| Listed by XL Legacy International | |||
| Jun 5, 2026 | Listed by XL Legacy International | $1,749,000 | |
| Listed by XL Legacy International | |||
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Welcome to luxury coastal living at 1 Shell Key, an exquisite 4,143 sq ft custom home on a quiet cul-de-sac in the gated community of Harborwalk. This waterfront retreat offers 270° permanent, unobstructed views of West Galveston Bay, the Intracoastal Waterway, and coastal wetlands from every room. Features include 3/4 bedrooms + home office nook, 4.5 baths, a gourmet kitchen with granite countertops, stainless appliances, large island, butler’s pantry, and bamboo floors. Relax in the spacious primary suite with soaking tub and water-view shower. Enjoy multiple IPE decks, a 15’x40’ boathouse with two lifts, fishing pier, and custom pool with outdoor serving area. Additional highlights: 3 level elevator, impact windows, central vac, lightning protection, whole-house dehumidifier, Generac generator, epoxy garage floors, and climate-controlled tackle room. All set on a 9,955 sq ft lot with over 140 ft of waterfront and access to Harborwalk’s marina, yacht club, and resort-style pool.
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| Jun 1, 2026 | No longer available | - | |
| No longer available | |||
| Oct 28, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017