720 Elinor Way
About This Property
Discover your perfect island get away with this stunningly remodeled 3-bedroom, 2-bath, 1740 sq ft home on Sanibel Island. Fully furnished and turn-key, this home combines modern upgrades with tropical charm, creating a serene and functional space for enjoying the island lifestyle!
Resilient and thoughtfully designed, the home features a sleek 5V metal roof, impact-resistant windows and doors, new Trane HVAC, Fenced yard, Sea glass countertops, and an all-season sunroom. Never flooded and meticulously maintained, this home offers peace of mind and a low-maintenance lifestyle, so you can focus on the beauty and tranquility of island living.
Just a 4-minute walk via direct beach access to one of Sanibel's pristine shores, this property offers an unparalleled blend of privacy and convenience. Nestled on an almost half-acre lot surrounded by vibrant native landscaping, it provides a natural buffer from the outside world while remaining close to shopping, dining, and other amenities.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Dec 22, 2025 | Sold | ||
| Sold | |||
| Dec 3, 2025 | In contract | - | |
| In contract | |||
| Nov 12, 2025 | Price Decreased |
$1,099,000
↓ $26K
(2.3%) | |
| Price Decreased | |||
| Oct 27, 2025 | Listed by Pfeifer Realty Group LLC | $1,125,000 | |
| Listed by Pfeifer Realty Group LLC | |||
| Sep 27, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017