579 BAYVIEW DRIVE
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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 |
|---|---|---|---|
| Mar 25, 2026 | Sold | ||
| Sold | |||
| Mar 10, 2026 | In contract | - | |
| In contract | |||
| Feb 21, 2026 | Price Decreased |
$999,999
↓ $100K
(9.1%) | |
| Price Decreased | |||
| Jan 6, 2026 | Listed by MICHAEL SAUNDERS & COMPANY | $1,100,000 | |
| Listed by MICHAEL SAUNDERS & COMPANY | |||
| Dec 16, 2024 | Listed | $1,250,000 | |
| Listed | |||
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Welcome to an incredible opportunity in the highly sought-after Bayview Estates on Longboat Key. Situated on a stunning saltwater canal lot with direct access to Sarasota Bay and the Gulf of Mexico, this property is a boater's paradise. Featuring a deep-water canal with a dock, seawall, and lift already in place, the potential for creating your dream waterfront home is limitless. Enjoy peekaboo views of the bay and imagine the possibility of expanding or redeveloping the property to take in breathtaking vistas of Bishops Bayou, the Intracoastal Waterway, and beyond. This home is located just steps from the public beach access, offering unparalleled convenience to one of Longboat Key's best surf breaks. Nearby amenities include fine dining, shopping, tennis, fitness clubs, and community parks, ensuring the quintessential island lifestyle. While the home was damaged and flooded during recent hurricanes, it presents a fantastic opportunity for visionaries to rebuild or renovate and make it their own. Being sold for land value, this property is your chance to create a dream residence in one of Longboat Key's most coveted neighborhoods. Don’t miss out—schedule your private tour today!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017