261 Needlerush Drive
About This Property
Just moments from Western Lake and a short bike ride to the beach, this beautifully appointed home offers the perfect blend of elegance, comfort, and true resort style living. The wrap around porch is a standout feature, giving you multiple spaces to relax, entertain, and take in the surroundings throughout the day. Designed for both relaxation and entertaining, the home features a private pool, complemented by a newly enhanced pergola and thoughtfully designed outdoor living spaces, ideal for al fresco dining and lounging in a serene setting.
Inside, the home showcases timeless coastal design and quality craftsmanship throughout. The gourmet chef's kitchen is outfitted with a six burner gas range, custom vent hood, premium appliances, wine refrigerator, warming drawer, and an expansive island with bar seating. The main living area is highlighted by soaring vaulted ceilings, exposed beams, a statement fireplace, and elegant shiplap detailing, creating a warm yet elevated atmosphere.
Recent updates, including fresh interior and exterior paint and upgraded outdoor features, enhance the home's pristine condition and modern appeal. A spacious third floor game room with custom built bunks offers a versatile retreat for guests and gatherings.
Owners enjoy access to WaterColor's world class amenities, including multiple resort style pools, tennis and pickleball courts, a state of the art fitness center, scenic parks, and a boathouse for paddleboarding and kayaking. Camp WaterColor adds to the experience with its lazy river, waterslides, and family friendly activities. The property conveys 14 owner wristbands, a meaningful advantage for both personal use and rental flexibility.
This is a rare opportunity to own a truly distinguished home in one of 30A's most sought after coastal communities.
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Cap Rate Calculator
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 13, 2026 | Sold | ||
| Sold | |||
| Jun 16, 2026 | In contract | - | |
| In contract | |||
| May 22, 2026 | Price Decreased |
$3,850,000
↓ $145K
(3.6%) | |
| Price Decreased | |||
| Apr 15, 2026 | Listed by Scenic Sotheby's International Realty | $3,995,000 | |
| Listed by Scenic Sotheby's International Realty | |||
| May 4, 2025 | Price Decreased |
$4,200,000
↓ $100K
(2.3%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017