165 Needle Cast Lane
About This Property
The second-floor owner's suite features a vaulted beamed ceiling with statement chandelier, wallpaper accent walls, and motorized blackout drapery. The master bath is appointed with a Toto zero-gravity flotation soaking tub, a fifteen-foot dual-stall digital shower with six body jets, dual rain showers, handheld wands, built-in anti-fog mirror, and marble dolomite walls with custom black marble inlay and illuminated niches. Separate his-and-hers California Closets hers with a center island and ambient lighting and an adjoining laundry room with custom marble floors complete the suite. A second-floor morning bar with built-in Bosch coffee maker and refrigerator, two additional bedrooms with a beautifully appointed Jack-and-Jill bath, and a first-floor guest master suite with digital steam shower and champagne bubble-jet soaking tub with heated backrest round out the living spaces. The dedicated mudroom includes a built-in dog crate, pet feeding drawer, and concealed stacked washer and dryer.
The rear of the home opens to a private outdoor resort: white marble pavers surround a heated pool with waterfalls, sun shelf, sunken barstools, and ambient lighting alongside a nine-person spa and a sunken gas fire pit with built-in bench seating on manicured turf. The covered patio offers a color-changing gas fireplace, built-in grill with vent hood, outdoor refrigerator, bar sink, and three motorized bug screens for seamless evening entertaining. Whole-home Sonos, Lutron motorized shades on every window, comprehensive security cameras, and custom landscape lighting are standard throughout. The carriage house features Sonos theater surround sound, a wet bar, custom wallpaper, a half bath convertible to full, generous storage, and motorized drapery.
WaterSound Origins, a 1,400-acre master-planned community where short-term rentals are prohibited offers the Village Commons resort-style pool and fitness center, Origins Golf Course, tennis and pickleball courts, miles of nature trails, dock access to Lake Powell, and Watersound Town Center with Publix, dining, and retail. The Gulf beaches and coastal communities of Rosemary Beach, Alys Beach, and Seaside along Scenic 30A are just two miles south.
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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%.
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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 |
|---|---|---|---|
| Oct 22, 2026 | Price Decreased |
$3,795,000
↓ $100K
(2.6%) | |
| Price Decreased | |||
| Jul 22, 2026 | Listed by Scenic Sotheby's International Realty | $3,895,000 | |
| Listed by Scenic Sotheby's International Realty | |||
| Jul 23, 2020 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017