509 Spring AVENUE
About This Property
This property is easy to enjoy and own and has been completely renovated in 2021 meeting the most up to date hurricane codes including new roof, new siding, windows, and doors. As you enter this newly renovated beach house you are greeted by an open concept great room that is overlooked by a designer kitchen. The great room offers vaulted ceilings that are custom with beautiful wood plank paneling, engineered hardwood flooring, and large impact glass windows and sliders that allow for ample natural sunlight. The coastal designed kitchen features white and sea blue shaker-style cabinets with a creative mermaid scale tile backsplash, crown molding, and gourmet appliances including French door refrigerator, range hood and center island. This property offers two Owner's suites: one offers a frameless glass enclosure and the other offers a tub/shower combo. Both ensuite baths offer luxury tile, designer fixtures and elegant accents. "Island in the Sun" invites for relaxing moments any time of the day, enjoy the gulf breeze and the Florida sunshine from the home's charming front and back porches with slider entry from the great room or both bedroom suites. This home defines outdoor living with an always inviting lagoon style pool, outdoor grill, and plenty of landscaping providing private relaxation. There's plenty of space in the backyard for entertaining family and friends. Island in the Sun is located just one block south of Pine Ave and just a few flip flop steps away from the City Pier Bay Beach and the popular restaurant - The Waterfront. The City Pier Bay Beach offers narrow white sand beaches, amazing views of the newly constructed City Pier, the Skyway Bridge and the boats traveling back and forth in Anna Maria Sound. Schedule your private showing today to see all this home has to offer! Property information received from third-party sources is considered reliable but is not guaranteed. All information should be independently verified by buyers and buyer's agent.
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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 |
|---|---|---|---|
| Jul 22, 2024 | Sold | ||
| Sold | |||
| Jun 4, 2024 | In contract | - | |
| In contract | |||
| Feb 8, 2024 | Price Decreased |
$1,750,000
↓ $100K
(5.4%) | |
| Price Decreased | |||
| Jan 4, 2024 | Listed by SALTY MERMAID REAL ESTATE LLC | $1,850,000 | |
| Listed by SALTY MERMAID REAL ESTATE LLC | |||
| Jun 8, 2019 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017