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3416 CRAPE MYRTLE DRIVE
About This Property
This elevated coastal property offers space, flexibility, and a location that's hard to duplicate in one of Hernando County's most laid-back waterfront communities, with 141 FEET OF WATERFRONT and 4,106 SQUARE FEET UNDER ROOF. The home sits along a quiet canal with INDIRECT GULF ACCESS VIA A BOAT LIFT, plus a FLOATING DOCK ideal for launching a kayak or paddleboard and enjoying the water right from your backyard. Wildlife sightings, calm mornings, and changing skies are part of everyday life here, with the canal creating a peaceful backdrop behind the home.
This is truly TWO PROPERTIES FOR THE PRICE OF ONE. The home sits on one fully fenced lot, plus an ADDITIONAL ADJOINING LOT that is also completely fenced and currently set up with a VOLLEYBALL COURT + COVERED CARPORT, perfect for BOAT OR TOY STORAGE. Double lots in Hernando Beach are extremely rare and provide added privacy, flexibility, and long-term value. Outdoor living is a major highlight. A WRAP-AROUND DECK AROUND THE ENTIRE HOME WITH NEW TREX DECKING creates usable outdoor space on every side.
Out back, a SCREEN-ENCLOSED LANAI JUST OFF THE DINING AREA offers a shaded, comfortable place to relax. A MASSIVE BRICK PAVER DECK spans the rear of the property, making this setup ideal for entertaining and pets. Enjoy SUNSET VIEWS FROM THE WEST-FACING FRONT DECK and SUNRISE VIEWS FROM THE REAR PATIO! ALL PRIMARY LIVING AREAS ARE LOCATED UPSTAIRS, including the kitchen, dining area, bedrooms, and bathrooms. The upper level features LVP FLOORING THROUGHOUT, a REMODELED KITCHEN WITH GRANITE COUNTERTOPS, A FARM-STYLE SINK, AND A SEPARATE BAR AREA. The home offers 3 BEDROOMS + 3 FULL BATHROOMS, all upstairs, with TWO EAST-FACING BEDROOMS that capture beautiful morning light. ALL BATHROOMS HAVE BEEN REMODELED, and the laundry room is also located upstairs for everyday convenience.
Below the home, the GROUND LEVEL PROVIDES JUST UNDER 2,000 SQUARE FEET OF COVERED SPACE, offering exceptional flexibility for ENTERTAINING, STORAGE, A WORKSHOP, OR RECREATIONAL USE. Recent updates include A NEW AC SYSTEM (2021), new decking and A METAL ROOF!!
Located in HERNANDO BEACH, the home is close to the WEEKI WACHEE RIVER, local TIKI HUTS, LIVE MUSIC, the public BOAT RAMP, and popular dining like Brian's Place. The lifestyle here is relaxed, social, and centered around the water. Additional highlights include NO HOA and NO SHORT-TERM RENTAL RESTRICTIONS. The home is currently a PROFITABLE SHORT-TERM RENTAL, offering flexibility for personal use, investment, or both. Come see it in person and decide how you'd use all this space - morning coffee on the deck, sunset drinks out front, or weekends on the water.
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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%.
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 |
|---|---|---|---|
| Jun 2, 2026 | Sold | ||
| Sold | |||
| Apr 21, 2026 | In contract | - | |
| In contract | |||
| Jan 23, 2026 | Listed by MERIDIAN REAL ESTATE | $535,000 | |
| Listed by MERIDIAN REAL ESTATE | |||
| Dec 4, 2025 | Price Decreased |
$529,000
↓ $10K
(1.9%) | |
| Price Decreased | |||
| Nov 1, 2025 | Price Decreased |
$539,000
↓ $10K
(1.8%) | |
| Price Decreased | |||
Property Highlights
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About Hernando Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017