Fantastic Rarely Available Double Lot Comprising 2.39 acres, (100 x
520 ) just 10 minutes from Downtown Naples. The home sits well
above the new FEMA plus one requirement, at 9.05 feet. This
solidly built home features grand architecture with a soaring entry
foyer and living room filled with natural light. The first floor
also features a large bedroom, bath, extra living space with stone
fireplace, a large dining room overlooking the pool area and a wet
bar central to the living areas The kitchen with stainless
appliances and ample cabinet and counter space also overlooks the
pool and backyard. Upstairs the Large Primary suite is a
private oasis filled with natural light and long views of the back
acre of the property and to the front acre. Two additional
bedrooms a bath and an open loft are on the second floor along with
a screened balcony and open balcony. Not only does this home
have a attached 2 car garage but also an authentically built 26' x
40' Chickee that is excellent for cars, boats, RV's, toys or
parties. The pool is also suitably scaled to the property at
20 x 40 feet, perfect for laps. The 2.39 acres is fully
cleared and the rear acre is fenced, the front acre is
landscaped with tropical and exotic palms with large open areas.
If a guest house or toy building is desired there is plenty
of space to accommodate all of your dreams. New Hot Water
Heater May 25, Dishwasher March 25, Microwave Jan. 2025, Wi-Fi
Garage Door Opener July 2026. This estate sized property is
on County Drinking water and septic, which means low water
bill, but not the work and inconvenience of water treatment system.
Irrigation is well. Myrtle Lane is a quiet street that is a
hidden secret in plain sight with quick access to Downtown Naples,
the interstate, Marco and conveniently located between the 951 and
Bayshore Boat ramps.
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.
INVESTOR / 1031 OPPORTUNITY, Subject to Lease with Quality Vetted Tenant. It's like owning your own park with an architecturally significant home. 2.39 acres located 6 miles from downtown Naples. Flanked by majestic palms of multiple varieties this home features nearly 3500 square feet of living space, 4 bedrooms, 3 baths, Welcoming front porch, screened patios, open balcony, The oversized pool is 20 x 40, 10 foot deep with sunny deck space. The Authentic 24 x 40 foot Chickee hut can serve as a place to store Cars, Boats, R/V's and still have room for extra entertaining space. Not that much extra entertaining space is needed with the large kitchen with walk in pantry, dining space that can accommodate a table for 10, adjacent to the wet bar that overlooks a living room with Volume Ceilings and cozy family room with wood burning rock fireplace. The Primary bedroom with Volume Ceilings is bathed in Natural light with windows on both sides for long views of the property from front to rear. Guests can retreat to a generous suite on the first level with private bath, 2 additional guest rooms on the second floor share a bath, (one room is set up as yoga / barre / meditation room) The second floor also has a small loft perfect for a work / study space and two balconies to take in the long property views. The home does have a side load 2 car garage. This home has been perfect for multi-generational families with it's unique and private layout and several places to seek solitude. The pool deck is surrounded by even more tropical palms. The yard leaves plenty of space for a fire pit, ball games and garden plots. If needed add a guest house or storage building to this property that offers many options. This home is located above the FEMA flood elevations and may not require Flood Insurance. This home has Central County Water for Drinking and Bathing (no pumps and salt filters) Septic System, and Well for Irrigation all for very low water bills. Myrtle Cove Acres is a quiet well established neighborhood that is often driven by (the residents like it that way), but it is convenient to Naples, Marco and the Interstate with it's location just of US 41. Partial Owner financing may be considered.
Feb 2, 2019
No longer available
-
No longer available
Nov 24, 2018
Listed
$695,000
Listed
Incredible Double Lot With Beautiful Large Home. This wonderful Estate Sized property is approximately 2.39 acres and close to the heart of Naples. The home is updated with a bedroom suite on the first floor and a graciously sized master on the second floor with Panoramic views of the entire property. The Main living level flows with Living, Dining and additional flex space with a fireplace. The Large 40 x 20 pool compliments the scale of the home and property. The home is situated in the center of the Double Lot for maximum privacy and curb appeal. The home is built above current FEMA standards and is concrete block. This solidly built home can meet all your expectations, however if you desire to add a workshop, RV/ Boat Barn and / or guest quarters the property has space to accommodate ALL of your specific needs. (subject to county approval) The manager has listed the unit size as 3476 square feet.
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