5616 SEAGRASS PLACE
About This Property
4 Beds | 4 Baths | Den + Loft | 3,618 Sq Ft | Oversized Lot with 140' Waterfront | Former Model by Sabal
5616 Seagrass Place is a former model home built by Sabal featuring the sought-after Gulfview floorplan on an oversized pie-shaped lot with over 140 feet of direct waterfront-nearly double the frontage of most homes in the community. Located across from a landscaped community greenbelt, this home offers added privacy and space, including a fully landscaped side yard. The first floor includes the primary suite, a separate guest bedroom and bath, a formal office with built-ins and French doors to a private front porch, a large laundry room, and open living and dining areas. The kitchen was remodeled in 2024 with new appliances, quartz countertops, updated backsplash, under-cabinet lighting, a wrap-around bar, and a cafe-style dining space surrounded by windows overlooking the pool and water. A butler's pantry connects the formal dining room and kitchen, along with a large walk-in pantry. The main living room features a gas fireplace and custom built-ins. Upstairs includes two additional bedrooms, one with a private bath and walk-in closet, a shared hallway bath, and a large loft with wet bar, wine fridge, custom trim, and deep plantation shutters. Two covered balconies provide water views-one facing east for sunrise, the other west for Tampa Bay sunsets. The screened-in outdoor living space features a heated saltwater pool and spa. The dock is equipped with water and electricity. The oversized 3-car garage includes a tandem bay for a golf cart or workshop, and the extended driveway has upgraded brick pavers. Recent updates include a full kitchen remodel (2024), upstairs bathrooms remodeled (2024), new roof (2020), new pool heater, recently replaced AC units, full-home plantation shutters, and an electric rear awning. The home has been pre-inspected for buyer peace of mind.
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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 |
|---|---|---|---|
| May 7, 2026 | Sold | ||
| Sold | |||
| Apr 11, 2026 | In contract | - | |
| In contract | |||
| Feb 19, 2026 | Price Decreased |
$1,199,000
↓ $26K
(2.1%) | |
| Price Decreased | |||
| Nov 22, 2025 | Price Decreased |
$1,225,000
↓ $24K
(1.9%) | |
| Price Decreased | |||
| Oct 1, 2025 | Price Decreased |
$1,249,000
↓ $26K
(2%) | |
| Price Decreased | |||
Property Highlights
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About Apollo Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017