291 RIO DEL NORTE Road
About This Property
On entering the home, the soaring ceiling of the two-story atrium and living room offer a formal yet relaxed atmosphere for entertaining guests or sitting with family. The beautiful staircase with its Wrought Iron Banister is to the right and we can easily move into the adjoining dining room. The downstairs feature hardwood flooring throughout the main rooms.
Moving to the back of the home, there amazing intercoastal waterway marsh views from the kitchen and the den. This area is perfect for indoor or outdoor entertainment and guests can easily move from the outdoor living area to the indoor one. The den features coffered ceilings and custom built-in bookcases beside the gas fireplace. The chef's kitchen features granite on the counters and the large island, GE Monogram double door refrigerator, oven wall and a gas range.
The pool and screen were completed in 2021. The waterfall from the hot tub into the heated pool creates a nice relaxing ambiance with the sound of a gentle brook. The pool deck has travertine tile and a large entertainment area for parties or children's play area. The screen has bug insect proof mesh and is built for maximum intercoastal views with minimum obstruction. The pool includes a removeable mesh child safety fence.
There is a large office off the den with intercoastal views. (This could make an excellent game room). There is also a bedroom and full bath downstairs. The mud room has custom built-in cabinets and is a great place for coats and shoes. The oversized 3 car garage has an added area which could be used for golf cart storage or a workout area.
From the top of the stairway. You see the owner's retreat. Once again, the marsh views from this suite are stunning. Retreat is truly the correct term for this spacious area with a full-size living room to the right, the bedroom in the center and the expansive owner's bathroom to the left. In addition to the soaking tub there are two separate showers. This luxury bath area is designed to make getting ready for work or a night at the club enjoyable and roomy.
The upstairs also contains a bedroom with private bath and two additional bedrooms with a shared bath. The roomy centrally located laundry room is a few steps away from any of the upstairs rooms.
This this home is designed for elegant entertaining and yet is it is well suited for casual living with large rooms, and great flow to the kitchen, family room and outdoor living area. The sunrises are gorgeous, and the marsh is beautiful at sunset as the shadows move across the marsh. There are hawks, owls and eagles patrolling each day.
The CDD fees include access to two pools, the tennis center and a beautiful fitness center.
Both social membership and golf memberships at the Palencia Club are available for an additional fee. The golf course is a 7,071 Arthur Hills design winding through centuries old oaks and along the intercoastal waterway. If you choose to join this private club, you are a golf cart drive away from championship golf and wonderful dining options.
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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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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 26, 2023 | Sold | ||
| Sold | |||
| Feb 1, 2023 | Listed by COLDWELL BANKER VANGUARD REALTY | $1,699,000 | |
| Listed by COLDWELL BANKER VANGUARD REALTY | |||
| Sep 22, 2022 | Listed by COLDWELL BANKER VANGUARD REALTY | $1,775,000 | |
| Listed by COLDWELL BANKER VANGUARD REALTY | |||
| Aug 15, 2022 | Sold | ||
| Sold | |||
| Jun 18, 2020 | Listed by BERKSHIRE HATHAWAY HOMESERVICES, FLORIDA NETWORK REALTY | $879,000 | |
| Listed by BERKSHIRE HATHAWAY HOMESERVICES, FLORIDA NETWORK REALTY | |||
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Revel in stunning intracoastal views from the moment you enter the front door of this bright, sun-drenched home in Palencia. Styled with elegance, this exceptional 2-story home is appointed with 5 bedrooms and 4.5 baths within 4,656 sq. ft. of living space. Ideal for entertaining family and friends, it's simply perfect in every way. Overlook a large backyard from a shady, covered patio as sailboats drift by and the wildlife stirs in its natural habitat. This home features a large chef's kitchen with separate island, Monogram stainless steel appliances. The open concept floor plan offers great sight lines for watching children play, socializing with friends, or simply enjoying the fireplace. Simply beautiful – there is nothing to do except call the movers and change your address!
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About St. Johns
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017