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723 Myrtle Terrace
About This Property
The main-level primary suite provides a peaceful escape with a generous custom closet and spa-like bath. An additional bedroom on the first floor offers flexibility for guests or a home office, while three upstairs bedrooms and a private balcony provide plenty of room for family and visitors.
Outside, tropical greenery surrounds the pool and spacious sun deck, creating a secluded resort-style setting. The covered lanai features a fireplace, motorized retractable screens and an outdoor kitchen for year-round entertaining. Other 2026 improvements include two new HVAC systems, new outdoor grill, a new pool heater and a new pool pump. Additional conveniences include an owned security system, central vacuum, two electric vehicle chargers and a motorized garage bike rack.
Enjoy the freedom of no HOA in an exceptional west-of-US-41 location, close enough to walk or bike to Waterside Shops, dining and the beach. Due to the home's elevation, flood insurance is not currently required, adding another valuable benefit to this distinctive Naples 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%.
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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 |
|---|---|---|---|
| Oct 16, 2026 | Listed by John R Wood Properties | $3,500,000 | |
| Listed by John R Wood Properties | |||
| Aug 25, 2017 | Sold | ||
| Sold | |||
| Aug 6, 2015 | Sold | ||
| Sold | |||
| Aug 17, 2012 | Sold | ||
| Sold | |||
| Jul 10, 2012 | Listed by John R. Wood Properties | $199,900 | |
| Listed by John R. Wood Properties | |||
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L.1363 - Great location adjacent to Park Shore! The lowest priced lot West of 41 and south of Seagate Drive! Walk to beach, Waterside Shops and the Naples Philharmonic. Unbelievable!
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About Naples
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017