Big, beautiful, and exceptionally solid, this waterfront Islamorada
residence is perfectly situated on Sandy Cove Basin with protected
deep-water dockage for multiple boats and direct bay access. A
gated, pavered double driveway leads to an inviting foyer where
marble floors and a private elevator welcome you. The elevated
living level features a spacious great room with fireplace and
coral accents, ideal for entertaining, along with a chef's kitchen
offering custom teak cabinetry, granite countertops, island
cooktop, and premium Sub-Zero and Bosch appliances. Wide screened
porches extend the living space and capture open waterfront views.
The home offers 5 bedrooms and 5.5 baths, a resort-style pool, and
excellent updates including a new dock, new boat lift, and new A/C
systems. A privacy wall enhances the secluded feel of this quiet,
one-street neighborhood known for its consistently lovely homes. An
exceptional opportunity for refined island living with outstanding
boating access.
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.
Interior Features: Bar, Built-in Features, Elevator, Entrance Foyer, Other, Pantry, Walk-In Closet(s), Wet Bar, Storage, First Floor Entry, Closet Cabinetry, Cooking Island, Den/Library/Office, Family Room, Great Room, Separate Guest/In-Law Quarters, Maid/In-Law Quarters, Media Room, Recreation Room, Utility Room/Laundry, Workshop
Appliances: Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Other, Gas Range, Refrigerator, Washer
Flooring Type: Marble
Door Features: High Impact Doors
Laundry Features: Utility Room/Laundry
Has Fireplace
Fireplace Features: Fireplace
Exterior Details
Square Footage: 5456
Security Features: Fire Alarm, Smoke Detector(s)
Architectural Style: Attached, Three Or More Stories
Year Built: 2000
Waterfront Features: Ocean Access, Waterfront
Building Name: MATECUMBE SANDY BEACH
Building Area Total: 12241
Building Area Units: Square Feet
Window Features: Partial Other Protection, Partial Panel Shutters/Awnings, Hurricane Shutters
Construction Materials: CBS Construction
Patio and Porch Features: Wrap Around, Open Balcony
Pool Features: In Ground, Heated, Concrete
Lot Features: 1/4 To Less Than 1/2 Acre Lot
Lot Size Area: 17700
Lot Size Units: Square Feet
Lot Size Acres: 0.406
Lot Size Square Feet: 17700
Water Source: Municipal Water
Financial Details
Tax Annual Amount: $33,338
Utilities Details
Cooling Type: Ceiling Fan(s), Central Air, Wall/Window Unit(s), Zoned
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