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501 DE NARVAEZ DRIVE
About This Property
Spanning 1,708 square feet of refined single-story living, this 3-bedroom, 2.5-bath residence is a masterclass in modern comfort and timeless materials. Designed with block construction and finished in stucco with a durable metal roof, the home is as solid as it is stylish. Inside, terrazzo flooring sweeps across the entire home, providing a sleek and enduring foundation underfoot.
Enter into a light-drenched open floor plan, where the layout has been carefully crafted for entertaining, lounging, and effortless day-to-day living. The living room flows into a dining space and gourmet kitchen-outfitted with stone counters, solid surface tops, a spacious island, and stainless steel appliances including a convection oven and cooktop. Whether you're entertaining guests or enjoying a peaceful morning coffee, every room connects you to the water and the outdoors.
The primary suite is an owner's haven, complete with a walk-in closet and full bath featuring a tub/shower combination. Two additional bedrooms-each with walk-in closets-offer comfort, functionality, and flexibility. A second full bath, half bath, and spacious laundry area provide all the elements of ease and convenience.
But what truly defines this home is what lies beyond the doors. A private, heated pool, enclosed within a screened lanai, becomes your year-round sanctuary. The oversized covered deck is perfect for afternoon shade or sunset cocktails. And then there's the water: with direct canal access to the Intracoastal Waterway, this home is a dream for boaters. The 2022 composite dock and concrete seawall are in pristine condition and ready for your vessel.
No HOA means you can live your way, and with 1-month minimum leases allowed (rental license required), this property also offers incredible short- or long-term rental potential. Add in a two-car garage, central air, electric heat, public water/sewer, and fiber optic internet, and you have every modern amenity at your fingertips.
This is more than just a home-it's a statement of lifestyle. A bold, beautiful, and rare opportunity to own in one of Longboat Key's most established and beloved communities, just moments from world-class beaches, golf, fine dining, and everything the Sarasota area has to offer.
For the visionary buyer who seeks distinction, privacy, and water access-501 De Narvaez is where your story begins.
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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 |
|---|---|---|---|
| May 9, 2026 | Price Decreased |
$1,018,375
↓ $50K
(4.7%) | |
| Price Decreased | |||
| Feb 18, 2026 | Price Decreased |
$1,068,375
↓ $50K
(4.5%) | |
| Price Decreased | |||
| Jan 13, 2026 | Price Decreased |
$1,118,375
↓ $50K
(4.3%) | |
| Price Decreased | |||
| Nov 26, 2025 | Price Decreased |
$1,168,375
↓ $50K
(4.1%) | |
| Price Decreased | |||
| Sep 7, 2025 | Price Decreased |
$1,218,375
↓ $64K
(5%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017