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565 COMMONWEALTH PLACE
About This Property
Designed for easy indoor-outdoor living, the three-bedroom, two-bath home opens seamlessly to a private backyard retreat where a heated pool, fire pit and spacious screened lanai invite long afternoons in the Florida sunshine and evenings spent under the palms. The broad canal views create an unexpected sense of space, offering peaceful water vistas without feeling confined by neighboring homes. Whether entertaining friends or enjoying a quiet morning overlooking the water, every space feels relaxed, comfortable and unmistakably coastal.
Inside, tray ceilings, plantation shutters and an abundance of natural light create a warm, welcoming atmosphere. The thoughtfully updated kitchen features solid maple cabinetry, granite countertops, premium appliances, abundant storage and a convenient pass-through window for effortless entertaining. The spacious primary suite overlooks the pool and canal, complete with a generous walk-in closet and an updated ensuite bath with dual vanities, soaking tub and separate shower. A split-bedroom floor plan offers privacy for owners and guests alike.
Boaters will appreciate the Trex dock, expanded waterside paver patio, 10,000-pound lift, fish cleaning station and protected canal setting, while the fully fenced yard, hurricane shutters, oversized laundry room, paver driveway and two-car garage add everyday convenience. The home remained dry during the 2024 storms, offering valuable peace of mind.
Perhaps what makes this property so special isn't simply its long list of amenities, but the life it invites. It's the kind of home where grandchildren cannonball into the pool, dogs race across the backyard, friends linger around the fire pit long after sunset, and an evening boat ride becomes part of the daily routine. For those ready to trade elevators and HOA hallways for a private dock, a backyard made for gathering and a different sense of home, this is a rare opportunity. Just minutes from our famous Siesta Beach, the lively Siesta Key Village and the vibrancy downtown Sarasota, it offers waterfront living that feels both peaceful and connected.
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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.
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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 |
|---|---|---|---|
| Jun 26, 2026 | Listed by MICHAEL SAUNDERS & COMPANY | $1,895,000 | |
| Listed by MICHAEL SAUNDERS & COMPANY | |||
| Dec 12, 2024 | Sold | ||
| Sold | |||
| Jul 1, 2024 | Listed by PREMIER SOTHEBYS INTL REALTY | $1,695,000 | |
| Listed by PREMIER SOTHEBYS INTL REALTY | |||
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Welcome to this tropical waterfront gem in an idyllic location with direct access to Sarasota Bay, the Intracoastal Waterway and near world-famous Siesta Beach. This wonderful three-bedroom, two-bath island residence has wonderful curb appeal, nestled on an upscale cul-de-sac on Siesta Key and is a perfect primary or second home. The paver drive and walkway lead to a covered entry leading to the living area, which boasts a tray ceiling and separate dining room overlooking the sparkling pool and lanai. The tastefully updated island kitchen is adorned with solid maple cabinets, granite countertops, top-of-the-line appliances and a planning desk, and offers abundant storage and workspaces. The convenient pass-through window offers easy access to the outdoor entertaining area. Relax and unwind in the primary suite, a spacious bedroom overlooking the pool and waterway, offering an oversized walk-in closet and an en-suite bath with dual sinks, tub and shower. Baths have been tastefully updated, showcasing stunning granite countertops that add a touch of elegance. The split bedroom plan affords guest bedrooms privacy. Additional features include a large laundry room with storage, Bahama shutters, and elegant travertine and tile floors throughout. Step outside into your own private oasis, featuring a screened lanai with charming pavers, a heated pool for year-round relaxation and enjoyment, and a built-in entertainment bar for gatherings with family and friends. Delight leisurely by poolside, gather around the inviting fire pit and luxuriate in the bubbling hot tub. Embrace the essence of coastal living in this impeccably landscaped home, offering remarkable canal access for fishing, kayaking or paddleboarding right from your dock. Boasting a convenient 10,000-pound lift, eagerly awaiting your watercraft for endless adventures on the water, 133-foot recapped seawall, and Trex dock further elevate the appeal of this exceptional waterfront property. The home offers peace of mind with hurricane shutters for added protection during inclement weather, a fenced yard, a paver driveway and a two-car garage. As a bonus, the shops and restaurants of charming Siesta Key Village are just minutes away, while the renowned #1 beach in the U.S. awaits your exploration. Just 15 minutes to downtown Sarasota’s vibrant galleries, museums, theatres, shopping and dining.
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| Mar 17, 2022 | Sold | ||
| Sold | |||
| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017