156 SIESTA DRIVE
About This Property
Just a short stroll to Shell Beach and minutes from Siesta Key Village and the world-renowned Siesta Key Beach, the home offers unmatched access to award-winning white sand, vibrant dining, and boutique shopping. A complete renovation in 2019 transformed the property with a new metal roof, hurricane-impact windows, patio and garage doors, upgraded AC systems, and an oversized resurfaced lap pool with all-new equipment, including a heat pump. Over 50 Areca palms frame the lush tropical landscaping, providing beauty and privacy while remaining easy to maintain.
The outdoor living space rivals a private resort, featuring a sparkling pool, spacious patio, and tranquil surroundings ideal for lounging or entertaining. Inside, natural light fills the open floor plan, creating seamless flow to the outdoor areas and making it a true entertainer's haven. Impeccably maintained and move-in ready, this Bay Isle residence offers a rare opportunity to enjoy the island lifestyle while benefiting from consistent rental income.
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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 |
|---|---|---|---|
| Nov 19, 2025 | Price Decreased |
$1,649,000
↓ $81K
(4.7%) | |
| Price Decreased | |||
| Aug 11, 2025 | Listed by KW COASTAL LIVING III | $1,730,000 | |
| Listed by KW COASTAL LIVING III | |||
| Nov 12, 2021 | Sold | ||
| Sold | |||
| Jul 1, 2021 | Listed by KW COASTAL LIVING III | $1,595,000 | |
| Listed by KW COASTAL LIVING III | |||
| Dec 26, 2018 | Sold | ||
| Sold | |||
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About Siesta
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017