2198 SPANISH BLUFF Drive
About This Property
This remarkable property offers 1.3 acres on the St. Johns River featuring 175 riverfront footage. Deep water access, extraordinary views, and a boat ride into the Atlantic ocean. This property has endless possibilities to rehab & add onto the existing home or start from scratch. Location is KEY feature offers quick access by car ( or boat) to Atlantic beach, shopping, restaurants and lots of entertainment. Property lush with a natural spring, lemon, lime and orange trees. Dock & boathouse can be built. This amazing land has a long private driveway leading to 1.3 acres of pure beauty. Dwelling is being sold ''as is'' with no improvements to be made by the seller, property is being sold for the land value. Ariel and video views not done due to restricted airspace for drone photos.
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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 |
|---|---|---|---|
| Mar 30, 2024 | Sold | ||
| Sold | |||
| Feb 2, 2024 | Listed by BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY | $400,000 | |
| Listed by BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY | |||
| Sep 19, 2012 | Listed by RE/MAX SPECIALISTS | $298,600 | |
| Listed by RE/MAX SPECIALISTS | |||
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Riverfront property with 1+ acres. Per survey, property has 160+ feet on the St Johns River. Views of the Dames Point Bridge from the property. House on property is a tear-down.
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| Sep 13, 2010 | Listed by WATSON REALTY CORP | $349,900 | |
| Listed by WATSON REALTY CORP | |||
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Diamond in the rough! Great place to clear and build you dream home. Per survey this property has 160+ feet on the St. Johns River. Huge lot with great views of the Dames Point Bridge and many large fruit trees. Home is sold ''as-is'' no value given to structures on property.
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| Aug 22, 2008 | Listed by WATSON REALTY CORP | $430,000 | |
| Listed by WATSON REALTY CORP | |||
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Largest waterfront lot available in Spanish Bluff, 175 linear feet on the river. Home is of 'No Value' on wooded riverfront lot.
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About Greater Arlington
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017