57
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238 ISLAND CIRCLE
About This Property
Gourmet Kitchen with new appliances, Impact-Resistant Windows for peace of mind, New 17KW Solar System with backup generator, keeping your electric bill at an incredibly low $20-$30 month, New Boat Lift Motors and a private dock, perfect for boating enthusiasts,
Saltwater Pool System and spa, enclosed in a serene, waterside cage for privacy, Custom Treehouse for a fun and unique retreat, Whole House Water Conditioner and new water heater, Two New A/C Units ensuring year-round comfort and a Xeroflood water barrier system has been installed. Natural light pours into every room, highlighting the spacious living areas and creating an inviting atmosphere throughout. The sumptuous Primary Suite offers a private sanctuary, featuring views of the lush tropical surroundings. Step outside to your own private oasis where you can unwind by the pool, entertain in style, or take your boat out for a sunset cruise – all right in your backyard. With Siesta Key's famous restaurants, shops, and nightlife just moments away, you'll have everything you need to experience the best of island living. This is a rare opportunity to own a piece of paradise on Palm Island, where the ultimate lifestyle meets extraordinary design and function.
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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%.
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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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 2, 2025 | Price Decreased |
$2,900,000
↓ $300K
(9.4%) | |
| Price Decreased | |||
| Apr 22, 2025 | Listed by RE/MAX ALLIANCE GROUP | $3,200,000 | |
| Listed by RE/MAX ALLIANCE GROUP | |||
| Jun 7, 2024 | Sold | ||
| Sold | |||
| Feb 23, 2024 | In contract | - | |
| In contract | |||
| Jan 30, 2024 | Listed by RE/MAX PLATINUM REALTY | $3,250,000 | |
| Listed by RE/MAX PLATINUM REALTY | |||
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Stunning Canal front renovation located on Palm Island (a short walk to the Beach-Access 10) with all the best Siesta Key has to offer. This 4 Bedroom, 4 Bathroom home stuns as soon as you enter the property and the threshold with a custom mahogany double entry door under a Ipe wood inlaid ceiling. Hurricane rated Impact Glass throughout. The interior renovated by Nautilus Homes (AIA Florida 2022 Builder of the Year), boasts Porcelain Provenza W-Age Italian tile featuring a unique cross-cut wood pattern on the main floor & Legno Bastone European White Oak Wood 8” wide plank flooring on the upper floor. The kitchen features Custom Brookhaven cabinetry and Silestone countertops, a Dornbracht faucet & Hand painted limited edition tiles by Ann Sacks as a backsplash. Viking Professional, Sub-Zero/Wolf and ASKO high-end appliances, including Wolf induction cooktop and Zephyr curved-canopy range hood for the chef. The Master Bathroom features Custom mosaic tile wall, Wetstyle freestanding bathtub & Elite Woodwork Custom Cabinetry. All Bathrooms feature Hansgrohe fixtures, Toto toilets & Vanities & mirrors by Decotec & Wetstyle. The backyard is very private with no homes visible across the wide canal. Decks & Terraces with Cable railings with Ipe wood handrails, rear decks with cypress wood inlaid ceilings and marine-grade stainless steel fans overlooks a Tropical Paradise designed by DWY Landscape Architects, whose awards include ASLA Florida Award of Excellence, and the newer (2018, including Seawall Cap) composite dock with 10k lift on the Grand Canal. A Custom Six Kayak storage rack & a Kayak lift round out the Island lifestyle. There is even a custom treehouse for children built by Miami Treehouse Builders. This home is ideally situated on Palm Island, which is a Island on a Island. You are a short walk to the Beach (Beach Access 10) & the restaurants and nightlife of the Village, without the traffic.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017