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3423 PALOMETA DRIVE
About This Property
A private floating dock invites endless days on the water, while the expansive master suite offers a nightly retreat with breathtaking sunset views from your own balcony-an intimate vantage point overlooking the Gulf's shimmering horizon.
Inside, the home showcases a fully updated gourmet kitchen appointed with granite countertops, stainless steel appliances, and solid wood cabinetry. Luxury flooring, ceramic tile, and plush carpeting flow throughout the interior, complemented by a cozy fireplace and the convenience of interior laundry, a tankless water heater, and a whole-house water softener system.
Outdoors, the property transforms into a private resort. The heated saltwater pool is enhanced with elegant lighting, creating a serene ambiance for evening swims or weekend entertaining. A newly installed irrigation system maintains the lush surroundings with ease, while the conservation area nearby the property ensures lasting privacy and a peaceful natural backdrop.
The oversized two-car garage provides generous storage, and the home's three-story design offers both functionality and architectural presence.
Whether you're seeking a seasonal sanctuary or a full-time luxury residence, this property embodies the essence of upscale Florida living-waterfront access, refined finishes, and a lifestyle defined by comfort, beauty, and coastal elegance
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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 |
|---|---|---|---|
| Apr 7, 2026 | Price Decreased |
$585,000
↓ $15K
(2.5%) | |
| Price Decreased | |||
| Mar 13, 2026 | Price Decreased |
$599,900
↓ $25K
(4%) | |
| Price Decreased | |||
| Feb 20, 2026 | Price Decreased |
$625,000
↓ $20K
(3.1%) | |
| Price Decreased | |||
| Jan 22, 2026 | Listed by EXP REALTY LLC | $645,000 | |
| Listed by EXP REALTY LLC | |||
| Mar 8, 2025 | Price Decreased |
$675,000
↓ $10K
(1.5%) | |
| Price Decreased | |||
Property Highlights
Building Info
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About Hernando Beach
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$2,000 /mo
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017