261 Ridge Road
About This Property
Featuring four bedrooms, including two spacious primary suites, the thoughtfully designed floor plan lives primarily on the main level, making everyday living both effortless and functional. A dramatic vaulted entry welcomes you into the sunken living room, where soaring wood ceilings, rich hardwood flooring, and travertine accents create a warm yet sophisticated atmosphere. The heart of the home is the beautifully appointed kitchen with fresh white cabinetry, stainless steel appliances, generous prep space, and picturesque lake views. The adjoining dining area and breakfast bar flow seamlessly to the expansive rear patio, designed for year-round entertaining.
Paver walkways wind through the lush grounds, where mature citrus and pear trees create a private, tropical setting that complements the peaceful waterfront backdrop. Offering exceptional privacy, generous outdoor space, and breathtaking views, this Fox Lake retreat is a rare opportunity to enjoy refined lakefront living in Santa Rosa Beach.
A county-approved lot split separating Lot 3 from Lot 4 will be completed and recorded in connection with closing . The $1,800,000 offering is for the home and the approximately 0.6 acres comprising Lot 3. Although the property is currently held under one parcel identification, the already approved split will be recorded at closing and will establish separate parcels for Lot 3 and Lot 4. See attached site plan.
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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%.
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 |
|---|---|---|---|
| Oct 27, 2026 | Price Decreased |
$1,600,000
↓ $200K
(11.1%) | |
| Price Decreased | |||
| Oct 22, 2026 | Listed by Compass | $1,800,000 | |
| Listed by Compass | |||
| Jan 24, 2019 | Sold | ||
| Sold | |||
| Aug 23, 2018 | No longer available | - | |
| No longer available | |||
| Jun 7, 2018 | Listed by Compass | $699,000 | |
| Listed by Compass | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017