537 Lillian DRIVE
About This Property
Step inside to discover neutral colors throughout with an updated kitchen featuring elegant granite countertops, custom wood cabinets, and top-of-the-line stainless steel appliances. The spacious bathrooms have been meticulously updated with marble and tile, creating a modern and fresh ambiance. A true oak staircase leads you to the expansive 25x25 master retreat, complete with an ensuite spa bathroom and a large walk-in closet. The interior boasts fresh paint, updated window treatments, and new ceiling fans and light fixtures, all completed in recent years.
The outdoor space is an entertainer's dream, featuring a recently refurbished large heated pool and spa, a pool deck with stylish pavers, and a state-of-the-art salt generator system. The expansive paved driveway can accommodate over six cars, or your boat trailer/RV. The vinyl-fenced yard provides privacy and security, making it ideal for enjoying the large back covered patio with a new roof (2024) and cooking area and outdoor living space.
For boating enthusiasts, the property offers deep water access to the Gulf of Mexico just one short turn and only a few minutes away. Well maintained with an updated seawall, tiebacks, and cap, and a recently dredged and updated boat slip so you can get in and out regardless of the tides. The dock includes a new 13,000-pound boat lift with new aluminum bunks. This home is located near Johns Pass and provides unparalleled convenience for water activities, beach dining, and shopping.
Additional features include a brand-new roof (2024), renovated half-bath cabinets, a hurricane-rated front door and slider (2022), a replaced water heater, and a newer upstairs carpet. The home also boasts a new washer and dryer (2023), air conditioning units (2014), and extensive exterior improvements, including a fresh exterior paint job and modern window treatments.
This meticulously maintained home has passed a 4-point inspection and has never flooded or taken water in 12 years they have owned it, providing peace of mind for its future owners. The current flood insurance is assumable at $4925/year, making it move-in ready. Don't miss the opportunity to own this exquisite waterfront property, perfect for those seeking a luxurious and active Florida lifestyle. This gem won't last long! Be sure to check out the video tour.
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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%.
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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.
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About Madeira Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017