7
Map
385 Newport Drive
About This Property
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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 |
|---|---|---|---|
| Sep 28, 2025 | In contract | - | |
| In contract | |||
| Sep 26, 2025 | Listed | $1,145,000 | |
| Listed | |||
| | |||
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Nestled in Indialantic's most exclusive gated community, this fully renovated two-story residence offers a perfect balance of elegance and comfort. Flooded with natural light, the home's open design features modern finishes, spacious living areas, and a primary suite with a spa-inspired bathroom and dual walk-in closets.
Step outside to your private retreat—complete with a sparkling pool, pergola, and summer kitchen—ideal for entertaining or relaxing under the Florida sun. Thoughtfully updated throughout, the home boasts a brand-new tile roof, impact-rated windows and doors, new AC systems, a new tankless hot water heater and water filtration system, quartz countertops, American-made cabinetry, premium appliances, and more.
With secure access to both the riverside and oceanside of the island, and just minutes from schools, shopping, and dining, The Cloisters offers not just a home, but a lifestyle of coastal luxury.
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| Jan 16, 2025 | Sold | ||
| Sold | |||
| Dec 6, 2024 | In contract | - | |
| In contract | |||
| Nov 16, 2024 | Price Decreased |
$1,189,000
↓ $10K
(0.8%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017