56
Map
37 MAY Street
About This Property
Whether you're looking for a primary home, vacation getaway, or income-producing Airbnb, this property checks all the boxes. This 3-bedroom, 2.5-bath home features a bright open-concept layout designed for both everyday living and entertaining. The kitchen offers upgraded cabinetry, dual pantries, and abundant storage, flowing seamlessly into the dining and living areas.
Step outside to enjoy multiple covered balconies, including a private upper-level balcony off the primary suite, perfect for morning coffee or evening relaxation.
The fully fenced, low-maintenance courtyard provides a private outdoor retreat--ideal for entertaining, grilling, or unwinding after a day at the beach. Major upgrades already completed:
2023 Metal Roof
2023 HVAC System
Whole-Home Surge Protector
The oversized 2-car garage includes epoxy flooring, utility sink, and EV charging station, with an extended paver driveway offering additional parking and easy turnaround space.
=I Location Highlights:
1.1 miles to Vilano Beach
Minutes to downtown St. Augustine
Close to waterfront dining, coffee shops, and local boutiques
Near boat ramps, fishing spots, and the Fountain of Youth Archaeological Park
Bonus: No history of flooding--an added advantage for coastal living.
If you've been searching for a coastal home near Vilano Beach with no HOA and short-term rental potential, this opportunity is hard to find.
Schedule your private showing today.
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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 |
|---|---|---|---|
| Jun 1, 2026 | Sold | ||
| Sold | |||
| May 9, 2026 | In contract | - | |
| In contract | |||
| Apr 19, 2026 | Relisted | $677,000 | |
| Relisted | |||
| Apr 13, 2026 | In contract | - | |
| In contract | |||
| Mar 6, 2026 | Price Decreased |
$667,000
↓ $10K
(1.5%) | |
| Price Decreased | |||
Property Highlights
Building Info
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About Nelmar Terrace
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017