61
Map
$1,899,999
↓ $70K (3.6%)
●
House -
For Sale
124 Lanternback Island Drive
Satellite Beach, FL 32937
5 Beds
4 Baths,
1
Half Bath
4,834 Ft²
$10,587
Est. Monthly
$318
HOA / Fees
1.17%
Cap Rate
About This Property
Don't miss this RARE GRAND CANAL OPPORTUNITY! One of a select few
homes commanding a premier position on the Grand Canal's wide open
Turn Basin, offering supreme canal privacy and unmatched water
views, dolphins, manatees, birdlife and fishing. Extensive shaded
patio runs the full width of the home alongside the large pool with
unobstructed views of canal life. An entertaining haven. Downstairs
has 4 versatile open plan living areas and kitchen, all with canal
views. Situated privately at one end, is a large bedroom with own
entrance & bathroom opposite, perfect for guests. There is a bonus
room too, ideal for office, teen hangout, TV room, gym, or 6th
bedroom. Upstairs: 4 bedrooms & convenient laundry. Sweeping
Owner's Suite is privately positioned at one end of the home.
Primary +2 bedrooms lead to newly installed wood decks & gorgeous
views! Boaters' paradise includes a covered boat dock with electric
lift. Close access to main river. Don't live ON the water, Live
WITH it, HERE!
Unit Size
4,834 Ft²
Days on Market
268 days
Land Size
0.47 acres
Price per sqft
$393
Property Type
House
Property Taxes
$939
HOA Dues
$318
Year Built
1989
Listed By
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 5 months ago (Space Coast MLS #1038019)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 31, 2025 | Price Decreased |
$1,899,999
↓ $70K
(3.6%) | |
| Price Decreased | |||
| Jun 18, 2025 | Price Decreased |
$1,970,000
↓ $29K
(1.5%) | |
| Price Decreased | |||
| Jun 18, 2025 | Relisted | $1,999,000 | |
| Relisted | |||
| Jun 10, 2025 | In contract | - | |
| In contract | |||
| Feb 21, 2025 | Listed by RE/MAX Elite | $1,999,000 | |
| Listed by RE/MAX Elite | |||
Show More
Property Highlights
Garage
Air Conditioning
Fireplace
Parking Details
Has Garage
Attached Garage
Parking Features: Attached, Garage
Garage Spaces: 2
Interior Details
Half Bathrooms: 1
Full Bathrooms: 4
Interior Features: Breakfast Bar, Built-in Features, Ceiling Fan(s), Central Vacuum, Eat-in Kitchen, Entrance Foyer, His and Hers Closets, Open Floorplan, Vaulted Ceiling(s), Walk-In Closet(s), Guest Suite, Jack and Jill Bath, Primary Bathroom -Tub with Separate Shower, Split Bedrooms
Appliances: Dishwasher, Dryer, Electric Cooktop, Electric Oven, Electric Range, ENERGY STAR Qualified Water Heater, Instant Hot Water, Microwave, Refrigerator, Tankless Water Heater, Washer, Wine Cooler
Flooring Type: Laminate, Tile
Laundry Features: Upper Level
Rooms: 10
Has Fireplace
Fireplace Features: Wood Burning
Fireplaces: 1
Exterior Details
Square Footage: 4834
Square Footage Source: $0
Security Features: 24 Hour Security, Gated with Guard, Security Gate
Architectural Style: Traditional, Multi Generational
Year Built: 1989
Waterfront Features: Canal Front, Navigable Water, River Access, No Fixed Bridges
Waterbody Name: Grand Canal
Building Area Total: 6126
Levels: Two
Construction Materials: Frame, Stucco
Patio and Porch Features: Patio, Terrace
Pool Features: In Ground, Other
Pool is Private
Lot Features: Greenbelt, Wooded, Easement Access
Lot Size Area: 0.47
Lot Size Units: Acres
Lot Size Acres: 0.47
Lot Size Square Feet: 20473.2
Water Source: Well
Financial Details
Tax Annual Amount: $11,266
Utilities Details
Cooling Type: Central Air, Electric, Multi Units
Heating Type: Central, Electric, Heat Pump
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Insurance, Maintenance Grounds, Security
HOA/Condo/Coop Amenities: Basketball Court, Clubhouse, Fitness Center, Gated, Maintenance Grounds, Park, Playground, Pool, Sauna, Tennis Court(s), Boat Launch, Management - Full Time, Management - Off Site, Pickleball
HOA Fee: $318
HOA Fee Frequency: Monthly
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Type
Beds
Baths
ft²
Price/ft²
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HOA + Taxes
About Tortiose Island
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Listed by: Jill A Wallace, RE/MAX Elite
Last Updated: 5 months ago
Data Source: Space Coast MLS, MLS# 1038019
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Last Updated: 5 months ago
Data Source: Space Coast MLS, MLS# 1038019
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