877 Emerald Bay Drive
About This Property
The heart of the home is the gourmet kitchen featuring granite countertops, stainless steel appliances, a small island for serving, bar seating, and a charming breakfast nook which opens to a spacious living area with vaulted ceilings. In addition, a formal dining room with a trey ceiling adds elegance for special gatherings. The kitchen and dining maintain tile flooring and the living room transitions to a wood-look luxury plank. The first-floor primary suite boasts an ensuite with a deep soaking tub, dual vanities, and a walk-in shower. It is adjacent an office space or possible nursery. Upstairs, you'll find three generously sized bedrooms, two full baths with one being a Jack-and-Jill tub/shower combination with separate vanities spaces near each room. The loft-style walkway connects the rooms and maintains the open concept throughout the home. Above the garage, a HUGE bonus room provides endless possibilities for a potential media room, game room, or guest space.
Outdoors, enjoy a large pool and hot tub with water feature that has been recently refinished and complete with a spacious deck that was also refinished and gazebo for gatherings and cool shade. A convenient half bath is located off the pool area for easy access and guest use.
Additional highlights include an oversized driveway, a corner lot with no neighbors to the south, a private office, and the benefit of a 3-car garage. This home is conveniently located just 5 minutes from the beach, local shops, and restaurants. There are no short term rentals permitted in Emerald Bay community. Emerald Bay also offers a community pool and clubhouse within the Homeowner Association for your enjoyment.
Payment Calculator
Your Estimated Monthly Payment
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 |
|---|---|---|---|
| Nov 14, 2025 | Sold | ||
| Sold | |||
| Sep 29, 2025 | In contract | - | |
| In contract | |||
| Sep 24, 2025 | Price Decreased |
$875,000
↓ $24K
(2.7%) | |
| Price Decreased | |||
| Aug 21, 2025 | Listed by Christies International Real Estate Emerald Coast | $899,000 | |
| Listed by Christies International Real Estate Emerald Coast | |||
| May 20, 2019 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017