Welcome to 2858 Cinnamon Bay Circle, an extensively renovated
Shiraz residence located on a preserve lot in the sought-after
gated community of Riverstone in North Naples. Offering six
bedrooms, five bathrooms, a spacious loft, a three-car garage, and
over 4,100 square feet of beautifully updated living space, this
exceptional move-in-ready home combines generous scale and
extensive recent high-end improvements completed over the last five
years. Inside, refined architectural details such as first-floor
crown molding, dining-room board and batten siding , updated
flooring, and a beautifully transformed staircase set an elegant,
cohesive tone. At the heart of the home is a fully renovated
kitchen with modern finishes that flows seamlessly into a family
room anchored by custom built-in cabinetry and a cozy electric
fireplace. All five bathrooms have been refined, highlighted by
full renovations of the main-level guest bath and the luxurious
primary suite. Exceptional versatility defines the layout,
providing tailored spaces for family, guests, and dedicated home
offices. Storage is optimized throughout with a custom mudroom, an
updated laundry room featuring new cabinetry and folding counter,
an under-stair pantry extension, and garage slat-wall and overhead
storage systems. Additional interior enhancements include designer
lighting, custom window treatments, a newer upstairs AC unit, added
attic insulation, and a new water heater. The backyard serves as a
private, year-round retreat completed in 2022, featuring a custom
pool and spa with a striking lighted water feature, an expanded
patio, and a built-in outdoor kitchen complete with a grill and
beverage refrigerator. Lush custom landscaping enhances privacy,
complemented by upgraded underground drainage, fresh exterior
paint, updated outdoor lighting, and upgraded front doors with
opaque-glass inserts. Residents of Riverstone enjoy an unparalleled
resort lifestyle featuring a clubhouse, fitness center, lap and
resort pools, water play area, tennis and pickleball courts,
indoor/outdoor basketball, and playgrounds, making this property an
extraordinary opportunity in one of North Naples' premier
neighborhoods.
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.
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