305 RIO TERRA
About This Property
At the heart of the home is the stunning kitchen, featuring 42-inch cabinetry, sleek quartz countertops, and high-end stainless-steel appliances. Whether preparing a meal or hosting guests, this kitchen provides the perfect blend of style and functionality. The versatile third bedroom is equipped with a built-in Murphy bed, allowing it to easily transition from a home office to a guest room.
Both bathrooms have been thoughtfully updated with elegant vanities and quartz countertops, maintaining a consistent modern aesthetic throughout the home. Recent upgrades include a brand-new roof (2024), a freshly painted home exterior (2024), a new air conditioner (2021), water heater (2019), and hurricane-rated windows, ensuring the home is secure, energy-efficient, and move-in ready.
Step outside to your private oasis-enjoy the new screened-in lanai, perfect for outdoor relaxation, and the expansive paver area, ideal for entertaining family and friends. The oversized backyard offers ample space for a potential pool and is bordered by a private buffer for added seclusion.
The Bellagio Community boasts recently updated amenities, including a private clubhouse, a fully equipped fitness center, a resort-style pool, and courts for tennis and pickleball. With two gated entrances and access to natural gas, this community offers the perfect balance of luxury and convenience. It's rare to find an island property located in a favorable X Flood Zone and Evacuation D zone.
Located just minutes from Venice's Historic Main Street, pristine Venice Beaches, and the scenic Legacy Bike Trail, 305 Rio Terra offers the best of island living.
Additionally, the current furnishings are available for purchase, making this home truly move-in ready. With its new roof, updated features, and unbeatable location, 305 Rio Terra is the perfect place to experience the Venice lifestyle at its finest!
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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 10, 2025 | Sold | ||
| Sold | |||
| May 24, 2025 | In contract | - | |
| In contract | |||
| May 20, 2025 | Price Decreased |
$625,000
↓ $24K
(3.7%) | |
| Price Decreased | |||
| Mar 14, 2025 | Price Decreased |
$649,000
↓ $16K
(2.4%) | |
| Price Decreased | |||
| Feb 19, 2025 | Price Decreased |
$665,000
↓ $34K
(4.9%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017