481 Island WAY
About This Property
As soon as you step inside, you'll be mesmerized by the breathtaking water view. Imagine waking up each morning to the sight of glistening water right outside your window. Step outside, and you'll discover a world of relaxation and entertainment in your very own backyard. The pool and large patio area invite you to take a refreshing swim or lounge poolside while soaking up the sun. The boat lift, capable of accommodating up to 15k pounds and vessels up to 30 ft, allows you to indulge in weekend adventures on the water.
The interior of the house boasts numerous features that enhance its appeal. The Great Room provides additional space for gathering with loved ones or simply unwinding after a long day with a fireplace, LED recessed lighting, and arched ceiling with large sliders and windows for the view of a lifetime. Additional updates in this home include beautiful wood cabinets with granite counters, porcelain plank floors, granite sills, AC system with a 5-ton capacity and 14 seer rating unit installed (2008) which ensures optimal climate control throughout the year. The electrical system has also been upgraded to a 200-amp service, and a Gas Rinnai tankless water heater (2022) ensures on-demand hot water. You will also enjoy the two safes for your valuables and peace of mind.
Special exterior upgrades include a jetted water line with epoxy lining, and rain gutters that flow into a downspout to the canal. Enjoy the best of Clearwater Beach in this community, with Publix Grocery Stores, Restaurants, Banks, and more just around the corner. Don't forget about the Clearwater Marine Aquarium just a short distance away. You can ride the Jolly Trolley to the beach or take a short walk to the Sugar Sands of Clearwater Beach.
A short drive to Tampa International or St. Pete/Clearwater airports or all the entertainment that Tampa Bay has to offer. This property truly offers a lifestyle of luxury and relaxation. Don't miss out on the chance to experience the beauty of 481 Island Way firsthand. Contact us today to schedule a viewing and start living the life you deserve!
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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 |
|---|---|---|---|
| Aug 27, 2024 | Sold | ||
| Sold | |||
| Aug 13, 2024 | In contract | - | |
| In contract | |||
| Jul 30, 2024 | Price Decreased |
$1,700,000
↓ $149K
(8.1%) | |
| Price Decreased | |||
| May 20, 2024 | Price Decreased |
$1,849,000
↓ $150K
(7.5%) | |
| Price Decreased | |||
| Apr 9, 2024 | Relisted | $1,999,000 | |
| Relisted | |||
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About Island Estate
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017