520 USEPPA ISLAND, Captiva, FL, 33924 | $1,124,900

Water Wings cottage is waterfront, two-stories with Master on the first floor. The open first floor plan allows water views from the kitchen and living/dining areas which open onto a covered/screened porch and an open deck. The second floor features a loft-guest bedroom with bath, and a water view balcony. Both the interior and exterior have been renovated to first class quality. Exterior is Hardi Board, roofing is aluminum and decks are wood. Naturally the construction meets all windstorm resistance codes as the developer is a well-known contractor that has completed numerous high quality homes and renovations on the island over the past 20 years. Interior finishes include granite or marble counters, quality cabinetry and appliances. The entrance to the home is from a driveway of stone pavers and a thoughtfully landscaped yard. There is a shared storage room, a new propane generator and a 500-gallon propane tank. In addition to these fine features, Village owners recently were treated to significant road improvement of layered gravel, and heavily landscaped with mature palms of all types, creating a beautiful, tropical boulevard access. Recently completed multi-family dockage is just steps away and accommodates boats up to 24’. This home is located in the Useppa Village neighborhood on the western shore of the reimagined and redeveloped, private Useppa Island. Featuring the Useppa Island Club and Marina, Useppa Village owners enjoy all the services and amenities of a small town. Useppa is a bridgeless island ensuring privacy and solitude. Yet, there is an active lifestyle of boating and sporting activities for any that wish to participate. The island is known for its outgoing community of residents, and with only 118 homes, the nature of the island will not deviate from the tropical luxury and Old Florida ambiance that create this special place in the sun.

Features

  • Rooms: 8
  • Bedrooms: 2
  • Baths: 2 full
  • Laundry: In Kitchen
  • Style: Key West
  • Year Built: 1981
  • Garage: Driveway, Electric Vehicle Charging Station(s), Ground Level, Off Street, Open
  • Heating: Central, Electric
  • Cooling: Central Air, Zoned
  • Approx Sq. Feet: 1,366
  • Acreage: 0.05
  • Est. Taxes: $10,024
  • HOA Fee: $504 Monthly
  • Lot Desc: Flood Insurance Required, FloodZone, Historic District, In County, Landscaped, Near Marina, Private
  • View: Water
  • Pet Policy: Dogs OK, Number Limit
  • Appliances: Built-In Oven, Cooktop, Dishwasher, Disposal, Microwave, Range, Range Hood, Refrigerator, Washer, Water Filtration System
  • MLS#: C7523816
  • Days on Market: 19 days
  • Website: https://www.raveis.com
    /prop/C7523816/520useppaisland_captiva_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 4/13/2026 9:07:42 AM)
Listing courtesy of UIP PROPERTY COMPANY LLC   Phone: 239-410-7850

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NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

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520 USEPPA ISLAND, Captiva, FL, 33924

$1,124,900

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $899,920 $899,920 $899,920
Term 360 months 360 months 180 months
Initial Interest Rate** 5.750% 6.125% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.251% 6.235% 6.183%
Monthly Tax Payment $835 $835 $835
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $5,252 $5,468 $7,594
Total Monthly Payment $6,212 $6,428 $8,554

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.  The Total Monthly Payment does not include the estimated HOA/Common Charge payment.