Welcome to this custom 3-bedroom + den, 3.5-bath residence with
NEWER ROOF (2023) in Chapel Ridge, set on an expansive lot on one
of the highest elevations within prestigious West Bay Club. This
spectacular home is perfectly designed for both comfort and
entertaining. A grand double-door entry leads into a light-filled
foyer with soaring ceilings and tile flooring throughout the main
living areas, while wood flooring enhances the bedrooms and
spacious den. The formal dining room features built-in cabinetry
for storage, and a convenient half bath is located just off the
entry. The kitchen is the centerpiece of the home with a large
curved bar providing ample seating, a center island with rich brown
cabinetry that contrasts with the light cream wood cabinets
throughout, stainless steel appliances, gas cooktop with hood, and
a generous walk-in pantry with built-ins, all complemented by a
bright breakfast nook overlooking the outdoor living space. The
primary suite offers wood flooring, tray ceiling with soft ambient
cove lighting, sliding glass doors to the lanai, two large custom
walk-in closets, and an oversized bath with dual vanities, a
soaking tub, and a spacious walk-in shower, enhanced by an
additional tankless water heater dedicated to the master bath. Both
guest suites include wood flooring, large closets, and private
access to a separate side patio with pergola, while the two full
guest baths feature granite countertops, with one offering a
walk-in shower and the other a tub/shower combination. Additional
highlights include a large laundry room with built-in cabinetry,
sink, and countertop space, a tankless water heater and whole-house
Kohler generator both powered by natural gas, a built-in
entertainment system, LED dimmable ceiling lights throughout with
remote control capability, and a three-car, 24'+ deep garage.
Outdoor living is exceptional with a screened lanai offering
covered and open seating areas, a resort-style L-shaped pool
featuring a water fountain backdrop and hot tub that cascades into
the pool, an outdoor kitchen with grill and refrigerator, and a
cozy outdoor fireplace, all overlooking a spacious fenced backyard.
Residents of West Bay Club enjoy a private Gulf-front Beach Club
with full restaurant and bar, chair and towel service, and 200 feet
of direct beach access. The newly renovated Bay House features a
resort-style pool, yoga and Pilates studios, spinning and
stretching rooms, sauna, Aqua Cafe for indoor or poolside dining,
eight clay tennis courts, and a state-of-the-art Technogym fitness
center. River Park offers Estero River access with a boat launch
and Gulf access, boat storage, kayaks and canoes, a fishing pier,
playground, picnic areas, basketball court, and a scenic 1.5-mile
walking trail. The Sports Park includes six pickleball courts,
bocce courts, a fitness lawn, and two separate dog parks. Optional
memberships are available for the private 18-hole Pete and P.B. Dye
championship golf course and clubhouse.
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.
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