531 W TROPIC Way
About This Property
This delightful property features 3 bedrooms and 2 bathrooms with a split floor plan, providing both comfort and privacy. The home also includes a 2-car side-entry garage, plus an additional driveway with a carport to accommodate all your vehicles and toys. Outside, you'll find a refreshing swim spa, a greenhouse for gardening enthusiasts, and lush, vibrant landscaping that adds to the home's tropical appeal. Additionally, there's a 200+ square foot bonus room that's not included in the 1,452 square feet of living space, offering extra room for all your needs. Hidden Harbour is a quaint, traditional neighborhood with only a fewstreets, located just south of the Dondanville Rd Beach Ramp on the west side of A1A. With no HOA or CDD fees, you can enjoy the benefits of low St. Johns County taxes and zoning that permits short-term rentals. Recent updates include a new roof and windows installed in 2020, adding to the home's value and peace of mind.
Whether you're looking for a vacation retreat or a new permanent home, this property is the perfect place to start living your coastal dream.
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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 19, 2025 | Sold | ||
| Sold | |||
| Apr 4, 2025 | In contract | - | |
| In contract | |||
| Mar 29, 2025 | Price Decreased |
$569,999
↓ $5K
(0.9%) | |
| Price Decreased | |||
| Mar 19, 2025 | Price Decreased |
$575,000
↓ $10K
(1.7%) | |
| Price Decreased | |||
| Mar 7, 2025 | Listed by KELLER WILLIAMS ST JOHNS | $585,000 | |
| Listed by KELLER WILLIAMS ST JOHNS | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017