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539 ISLEBAY DRIVE
About This Property
This Nohl Crest–built Hemingway floorplan gives you over 3,000 sq ft of comfortable, coastal living in the gated waterfront community of MiraBay. The metal roof, Newer AC units, Newer Water Heater, big open spaces, and thoughtful custom updates throughout make this home stand out the minute you walk in.
Inside, the split floorplan works great and is completely flexible for families or anyone who needs extra room for guests. The kitchen has been updated with custom pull-out cabinetry, granite counters, stainless appliances, gas cooktop, double ovens, and both under- and over-cabinet lighting. You'll also find custom carpentry and built-ins throughout the home, updated lighting and hardware, solid back walnut wood accents and beautifully remodeled baths. The primary closet was fully redone in 2018 with a custom storage system that feels straight out of a boutique.
The living areas flow right out to the screened lanai, and wide canal views. The backyard is peaceful and private, with a 14,000-lb boat lift already in place. Perfect for boating, paddleboarding, or just watching the sunset and dolphins and manatees from your own backyard. Landscaping is lush and well cared for, and the long brick-paver driveway and welcoming front porch give the home great curb appeal.
The garage deserves its own highlight- at 21x25 it's a true masterpiece with custom-built storage galore. There are no wasted spaces.
Additional features: Tall ceilings, plantation shutters, crown molding, Gorgeous bamboo in the bedrooms and tile in the main living areas pull everything together into a home that's been meticulously maintained with attention to every detail.
Living in MiraBay means access to the waterfront clubhouse, 24 hour fitness center, heated resort-style pools, cafe, lounge, basketball tennis and pickleball, miles of trails, year-round events, and an overall laid-back coastal lifestyle. This is a golf cart friendly community. You're just minutes from US-41 and I-75, making it easy to get to Tampa, St. Pete, or the beaches.
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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 |
|---|---|---|---|
| Aug 12, 2026 | Sold | ||
| Sold | |||
| Jul 7, 2026 | In contract | - | |
| In contract | |||
| May 18, 2026 | Price Increased |
$1,299,000
↑ $50K
(4%) | |
| Price Increased | |||
| Mar 3, 2026 | Price Decreased |
$1,249,000
↓ $50K
(3.9%) | |
| Price Decreased | |||
| Nov 11, 2025 | Listed by 27NORTH REALTY | $1,299,000 | |
| Listed by 27NORTH REALTY | |||
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About Apollo Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017