313 Monroe Drive
About This Property
This sun-filled home has a large living room, with decorative fireplace and adjoining sunroom. The large formal dining room has seating for eight and is made beautifully elegant with floor to ceiling drapes and sheer curtains.
The large kitchen has new appliances, with a gas range, microwave, refrigerator and adjoining laundry room with full sized washer and dryer and guest bath.
The home includes three spacious bedrooms upstairs and a large remodeled bath. Spacious closets are offered in each room. As is the rest of the home, each bedroom is bright and sunny.
The fully restored guest house also includes impact windows and features a vaulted beamed ceiling and includes a living room, bedroom area and large kitchen and bath. It also has its own washer and dryer. It is highlighted by wood-simulated tile, is light and bright, creating a completely charming living space.
The spacious rear deck offers a lovely entertaining area with grill with the yard providing room for a pool.
It can be purchased fully furnished and turnkey.
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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%.
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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.
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 |
|---|---|---|---|
| Dec 5, 2025 | Sold | ||
| Sold | |||
| Nov 14, 2025 | In contract | - | |
| In contract | |||
| Oct 28, 2025 | Listed | $1,395,000 | |
| Listed | |||
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Elegant West Palm Beach living on Monroe Drive — pristine and move-in ready. Timeless charm meets modern ease in this meticulously maintained home, moments from the water, dining, and downtown WPB. It offers bright, open living spaces, a spacious kitchen, a detached guest house, stylish baths, and an inviting outdoor area for Florida living. Steps to the intercoastal, parks, and waterfront paths; quick drive to downtown WPB dining, shops, and culture; minutes to Palm Beach International Airport and the ocean, near the Palm Beach Outlet Mall. Room to design a pool with approved permits. Located in West Palm Beach’s historic district. Schedule a private tour.
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| Oct 21, 2024 | Listed | $1,299,900 | |
| Listed | |||
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Discover 313 & 315 Monroe Dr, an enchanting 1920s Florida-style home with detached guest house steps from Flagler Drive and the waterfront in the esteemed Palm Beach Public Elementary School district This restored gem features original hardwood floors, modern impact windows, and spacious living areas. The first floor includes formal living and dining rooms a sunlit Florida Room, and a contemporary kitchen Upstairs three spacious bedrooms offer abundant closet space and natural light Outside enjoy a private backyard with a deck and picturesque cottage featuring vaulted ceilings and updated amenities Currently a turnkey Airbnb this exquisite residence in Southland Park offers comfort and elegance with recent enhancements throughout.
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| Dec 26, 2023 | No longer available | - | |
| No longer available | |||
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About Southland Park
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017