185 Elbow Beach Road
About This Property
This custom home pairs exceptional craftsmanship with timeless coastal architecture by Chancey Design. A grand entry foyer opens to a private courtyard centered around a resort-style pool, creating an effortless connection between indoor and outdoor living. The expansive first-floor living, dining, and kitchen spaces are refined by 13-foot venetian plastered ceilings, pecky cypress beams, and thoughtfully selected luxury fixtures and finishes throughout. A covered loggia with an outdoor kitchen and dining area overlooks the courtyard pool, providing an ideal setting for entertaining, while the oversized two-car garage offers flexibility to accommodate car lifts if desired.
The second level is designed with family and guests in mind, featuring four spacious king bed guest suites each with generous closets, along with two versatile bonus rooms, an additional living area, and a well-appointed laundry room. Occupying the entire third floor, the primary suite serves as a private sanctuary complete with its own rooftop terrace overlooking the iconic rooftops of Alys Beach. An additional expansive shared rooftop terrace looks south to capture sweeping Gulf views, spectacular sunsets, and cooling coastal breezes. An elevator provides convenient access to every level, including the rooftop.
Offered fully furnished, with interiors curated by Chancey Interior Design, this turnkey residence is ready to be enjoyed from day one, delivering an exceptional blend of luxury, comfort, and one of the most sought-after locations in Alys Beach.
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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 |
|---|---|---|---|
| Jul 2, 2026 | Listed by Alys Beach Properties Llc | $14,615,000 | |
| Listed by Alys Beach Properties Llc | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017