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550 DE NARVAEZ DRIVE
About This Property
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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 |
|---|---|---|---|
| Sep 20, 2026 | Price Decreased |
$1,275,000
↓ $20K
(1.5%) | |
| Price Decreased | |||
| Feb 24, 2026 | Listed by KELLER WILLIAMS ON THE WATER S | $1,295,000 | |
| Listed by KELLER WILLIAMS ON THE WATER S | |||
| Aug 17, 2025 | Price Decreased |
$1,298,750
↓ $30K
(2.3%) | |
| Price Decreased | |||
| Apr 20, 2025 | Price Decreased |
$1,329,000
↓ $56K
(4%) | |
| Price Decreased | |||
| Jan 25, 2025 | Listed | $1,385,000 | |
| Listed | |||
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ELEVATED LOT | NO FLOOD DAMAGE | MOVE-IN READY | FULLY FURNISHED | WATERFRONT |
Welcome to 550 De Narvaez Drive — a beautifully maintained, light-filled 3BD/2BA home on an ELEVATED 10,000 sqft. lot in North Longboat Key’s desirable Sleepy Lagoon neighborhood. This TURNKEY WATERFRONT gem offers direct canal access to Sarasota Bay, perfect for boaters! Enjoy peace of mind with new impact-resistant windows/doors, renovated kitchen & baths, newly lined pipes, and extra attic insulation. Relax or entertain in your private backyard with endless potential. Just minutes from world renown beaches, exclusive dining, and local shopping. Whether you're looking for a full-time home or a smart investment with plenty opportunity for rental income or updates on the existing property, this one checks all the boxes! Don’t miss your slice of paradise — schedule your private tour today!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017