8234 MIDNIGHT PASS ROAD
About This Property
Every detail of this home has been carefully curated to reflect the essence of the Siesta Key lifestyle, luxurious, relaxed, and deeply connected to nature. Whether you're looking for a full-time residence or a seasonal escape, The Blue Lagoon offers a once-in-a-lifetime opportunity to own a coastal property where water views, natural beauty, and modern comforts unite in perfect harmony. In addition to being a stunning private residence, this property is also ideal for seasonal use or as a high-performing vacation rental. Similar properties on Siesta Key routinely generate over $100,000 per year in rental income, making this an excellent opportunity to enjoy the home while having it support itself or even contribute toward paying it off. Use it as a vacation retreat while earning income and always have a beautiful place to stay on Siesta Key. And if your long-term vision includes building your dream home, please inquire directly about available building plans for the lot by Island Series with Yoder Homes. Visit the link for a 3D tour, video and floor plan.
https://nextlevelmediasrq.hd.pics/8234-Midnight-Pass-Rd/idx
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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 | |||
| Feb 22, 2026 | In contract | - | |
| In contract | |||
| Feb 10, 2026 | Price Decreased |
$1,050,000
↓ $50K
(4.6%) | |
| Price Decreased | |||
| Oct 1, 2025 | Price Decreased |
$1,100,000
↓ $200K
(15.4%) | |
| Price Decreased | |||
| Aug 12, 2025 | Price Decreased |
$1,300,000
↓ $33K
(2.5%) | |
| Price Decreased | |||
Property Highlights
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017