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2346 River Reach Drive
About This Property
Step through the door of this River Reach home and the first thing you'll notice is how much room there is to breathe. A large covered lanai opens onto a private, lushly landscaped backyard, fully fenced and shaded, the kind of space that turns an ordinary evening into a reason to stay outside a little longer. Inside, the floor plan adds even more flexibility, with two separate living areas so movie nights, morning coffee, and family gatherings never have to compete for the same space.
This single-story 3 bedroom plus den home has undergone significant renovations throughout. The kitchen has been fully remodeled, both bathrooms have been updated, and new luxury wood-look vinyl flooring runs throughout, so the big cosmetic work is already done. A new roof was installed in June 2024, plantation shutters dress the windows, and a combination of Kevlar hurricane screens and manual shutters provides storm protection for the home's windows and doors. The two-car garage features an upgraded garage door, cabinetry, and an epoxy floor, offering additional functionality and storage.
A valuable benefit for the next owner is the availability of transferable flood insurance, with the current owner paying less than $2,000 annually, offering potential savings and added peace of mind.
River Reach is a quiet, non-gated neighborhood centrally located in Naples, just minutes from Gulf beaches and downtown's Fifth Avenue South. The nearby Gordon River Greenway offers scenic opportunities for walking and biking, while low HOA dues add to the neighborhood's appeal. Residents also have the option to join the nearby Coconut River Estates Civic Association for just $450 annually, providing access to an impressive collection of amenities, including a community boat ramp with Gulf access, a heated pool, pickleball and tennis courts, shuffleboard, a playground, dog park, nature trails, additional access to the Gordon River Greenway, and a calendar of social events. The neighborhood offers an appealing combination of location, recreation, and everyday convenience.
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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.
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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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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017