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12735 1ST ISLE
About This Property
**Direct Gulf Access, a screened pool, floating dock and spectacular west-facing sunsets-this is Florida waterfront living at its best.** Located in Leisure Beach, this beautifully updated 2-bedroom, 2-bath home offers quick access to open water for boating, fishing, island hopping and waterfront dining. Major improvements include hurricane impact windows, 2025 HVAC, 2016 roof, updated soffits and seawall reinforcement completed in May 2026.
Inside, you'll find updated flooring, a beautifully updated kitchen with granite countertops and stainless steel appliances, renovated bathrooms, spacious bedrooms, a large Florida room and an oversized flex room that makes the home live much larger than its square footage. **At $359,999, with up to $10,000 in seller assistance, Direct Gulf Access and your own screened pool, this home offers a tremendous combination of waterfront lifestyle and value. Schedule your private showing today!**
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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 |
|---|---|---|---|
| Sep 19, 2026 | Price Decreased |
$359,999
↓ $5K
(1.3%) | |
| Price Decreased | |||
| Aug 4, 2026 | Price Decreased |
$364,900
↓ $10K
(2.7%) | |
| Price Decreased | |||
| Jul 2, 2026 | Price Decreased |
$374,900
↓ $14K
(3.6%) | |
| Price Decreased | |||
| Jun 9, 2026 | Price Decreased |
$389,000
↓ $10K
(2.5%) | |
| Price Decreased | |||
| May 19, 2026 | Listed by BHHS FLORIDA PROPERTIES GROUP | $399,000 | |
| Listed by BHHS FLORIDA PROPERTIES GROUP | |||
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About Leisure Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017