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3348 Edgewater Drive
About This Property
This 5bedroom, 5bath home offers expansive, light-filled spaces with soaring ceilings, designer lighting, and exquisite millwork throughout. The chef's kitchen is a showpiece featuring Wolf appliances, a built-in coffee system, quartz countertops, custom cabinetry, and a generous walk-in pantry, seamlessly connected to the open-concept living and dining areas, perfect for both entertaining and everyday living. A private elevator provides access to all levels, while the primary suite offers a priceless views and a serene retreat with a spa-inspired bath. The oversized walk incloset will bring so much joy to the Lady of the house with its ambiance and luxe feel. Additional highlights include a dedicated 8.1 surround-sound theater, smart home automation, and an oversized tandem garage with built-in storage.
The outdoor living space rivals any resort, showcasing a newly constructed gourmet kitchen with premium appliances, bar seating, and stone detailing, all overlooking a sparkling pool and spacious patio surrounded by tropical landscaping.
Located minutes from Tiger Point Golf Club, the public boat launch, boutique dining, playground, pickle ball courts, top-rated schools and just a short drive to the sugar-white sands of Pensacola Beach, this property captures the best of coastal living. Listed below appraised value, this Brian Spencer masterpiece offers unmatched quality, innovation, and lifestyle along the Gulf Coast.
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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 |
|---|---|---|---|
| Sep 6, 2026 | Price Decreased |
$1,995,000
↓ $205K
(9.3%) | |
| Price Decreased | |||
| Apr 3, 2026 | Price Decreased |
$2,200,000
↓ $149K
(6.3%) | |
| Price Decreased | |||
| Mar 13, 2026 | Price Decreased |
$2,349,000
↓ $40K
(1.7%) | |
| Price Decreased | |||
| Oct 24, 2025 | Listed by Hurd Real Estate & Company LLC | $2,389,000 | |
| Listed by Hurd Real Estate & Company LLC | |||
| Oct 14, 2025 | Price Decreased |
$2,400,000
↓ $350K
(12.7%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017