16791 SANDRA STREET
About This Property
If you've been considering a home in the Sunshine State of Florida this is the perfect time to turn that dream into reality.
This exceptional property was custom constructed in 1988 by skilled local builders and craftsmen. The home showcases solid woodwork throughout and dramatic vaulted heart-pine beams that anchor the main living area. It offers two generously sized bedrooms and two baths designed for comfort and functionality.
Expansive covered porches wrap around the entire home, providing access to three 12-foot sliding glass doors that flood the interior with natural light and coastal breezes. You'll feel like you are in a glamorous, well-appointed treehouse that says...Relax and enjoy life! Bubbling jacuzzi time is a bonus.
On the ground level, you'll find a versatile garage/game room, an attached workshop, and two covered carports. The fenced backyard offers a safe haven for pets.
This thoughtfully designed and solidly constructed residence stands out even among the most impressive homes in Cedar Key. Adding to its appeal, the property includes three platted and buildable 1/3-acre lots. One lot holds the home, while the front lot extends to within approximately 50 feet of the Gulf. Those final feet are owned by the City of Cedar Key and designated as conservation land-ensuring protected water views for generations to come. While the property could be subdivided into separate parcels, it is currently offered as one expansive homesite, presenting endless possibilities.
This extraordinary property boasts a main living elevation of 13 feet above sea level, supported by substantial concrete pillars rising an additional 9 feet. The result? Superior storm protection-rare for the island-and breathtaking sunrise and sunset views that never disappoint.
Cedar Key itself is a cluster of small islands along the Gulf Coast, north of Tampa and south of Tallahassee. Once a historic fishing village, it is now home to roughly 800 residents-a blend of longtime locals, clam and oyster farmers, and small business owners. The island is beloved for its natural beauty, water activities, outstanding local restaurants, and welcoming community. Your friends can fly in for lunch utilizing the community's 2303 foot asphalt runway, take time to kayak with the dolphins, reserve a seat for a sunset boat tour, explore the many islands. There is a reason UF set up a biological research station in the fascinating town. Life here moves at a deliberately relaxed, Old Florida pace.
Come experience this rare, one-of-a-kind property-and bring your dreams home.
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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 |
|---|---|---|---|
| Feb 20, 2026 | Price Decreased |
$525,000
↓ $99K
(15.9%) | |
| Price Decreased | |||
| Oct 27, 2025 | Listed by UNITED COUNTRY SMITH & ASSOCIATES - NEWBERRY | $624,300 | |
| Listed by UNITED COUNTRY SMITH & ASSOCIATES - NEWBERRY | |||
| Mar 6, 2025 | Price Decreased |
$479,000
↓ $120K
(20%) | |
| Price Decreased | |||
| Nov 1, 2024 | Listed | $599,000 | |
| Listed | |||
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Wonderful custom-built home on high ground in Cedar Key, Florida. Despite recent storms, no damage was sustained at this house as it stands on high land, is further elevated on concrete pilings, and was solidly built by professional builders and local craftsmen. The home sits on a water-view one-third acre lot on the western edge of the island with spectacular views of the sunset through the woods. Two adjoining one-third acre lots are also available for separate purchase which would provide the buyer with an acre of property standing only 50 feet from the Gulf waters.
Cedar Key is an old fishing village located in the northwest or Big Bend area of Florida. It is the second oldest city in the state, has around 700 permanent residents, with many native born Cedar Keyans in that number. The City boasts a wide range of nature-related and water-related activities, numerous great eateries, and a fine selection of galleries and shops. The pace on the island is noticeably laid-back and is intentionally Old Florida. No chain stores here!
The property itself is located on the western edge of the island in a quiet residential neighborhood. The floor plan of the house is designed to take advantage of views and breezes, with Gulf waters being viewable from all of the main rooms. The structure is surrounded by 8' wide covered porches all around the house and a large screened back porch adjoins the main living room area, providing for a grand living and entertaining space. The feel is distinctly like living in an elevated tree house!
Walking in the front door can be an amazing experience as you witness something almost unheard of in construction these days, all solid heart-of-pine wood beams and custom woodwork of that same rare wood throughout the whole house. No expense was spared when constructing and finishing this unique home, and it comes with all new stainless steel kitchen appliances. Finally, downstairs is the garage/game room with a Brunswick oak pool table and entertainment area, a separate attached workshop, and two covered carport areas. Back yard is fenced for your furry friends. Overall a wonderfully designed and sturdily built home that stands out even among some of the most fabulous homes in Cedar Key. Book your appointment now!
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| May 1, 2024 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017