8416 RIVERSIDE DRIVE
About This Property
Nestled along the tranquil waters of Shell Creek,
with direct access to the Peace River and the Gulf; this spectacular waterfront retreat offers approximately 200 feet of
waterfrontage, breathtaking views, and an extraordinary indoor-outdoor lifestyle. Completely remodeled
from top to bottom, this home effortlessly blends coastal charm with sophisticated modern upgrades.
From the moment you approach the inviting front pergola, you'll appreciate the attention to detail and quality
craftsmanship throughout. Step inside to discover a stunning designer kitchen featuring exquisite
Palisander Blue quartz countertops, custom cabinetry with soft-close doors and beautiful finishes
completed in 2024. Additional improvements include a new Rheem A/C system and water heater in 2024, a
durable metal roof, and a 2023 reroof of the rear flat-roof section, including the lanai.
Designed to maximize comfort and waterfront views, the light-filled primary suite offers picturesque views of
the water, an Luxurious Custom walk-in closet, and a completely reimagined ensuite bathroom
featuring a gorgeous custom-tiled walk-in shower. The desirable split-bedroom floor plan provides privacy
for guests, with two additional bedrooms and a beautifully remodeled guest bathroom.
Just beyond the kitchen, an enchanting enclosed den showcases three walls of windows overlooking
the water complemented by a charming tongue-and-groove ceiling. It's the perfect setting for morning
coffee, peaceful afternoons, or simply soaking in the natural beauty of your waterfront surroundings.
Updated interior doors with fresh interior paint add to the home's move-in-ready appeal.
But the true showstopper awaits outdoors! Experience the magic of waterfront living with an expansive
seawall and an incredible outdoor entertaining oasis. The sellers invested nearly $50,000 creating a
spectacular waterfront retreat featuring a new pressure-treated wood deck, a charming thatched tiki-style
roof, a custom floating bench with fire pit, with approximately $5,000 in custom handrails. A private dock
offers exciting possibilities for boating enthusiasts, with the potential to add a boat lift. Whether you're
entertaining beneath the tiki roof, enjoying a sunset by the fire, or setting out to explore Shell Creek and the
Peace River, every day feels like a vacation!
Additional features include a 2 garage, and a spacious 15' x 20' bonus room offering
incredible flexibility for a future fitness studio, game room, hobby space, or additional retreat with the
installation of a mini-split A/C system.
Your waterfront paradise awaits!
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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.
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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017