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Water Island, located within St. Thomas' Charlotte Amalie harbor, is a 491.5 acre treasure. The small population of fewer than 200 full and part time residents enjoy the tranquillity of a largely commercial free island while having the conveniences of developed St. Thomas only a 10 minute boat/ferry ride away.
Water Island’s real estate market is small and fairly exclusive. The real estate possibilities are very limited in quantity due to the island's small size and to a low turnover rate. (Article continues after featured listings, scroll down.)
Rum Point VillaRum Point Villa, Sprat Bay Estates, Water Island. Home is situated on 3 acres in exclusive private portion of Water Island called Sprat Bay Estates which features amenities of boat dock, tennis court and beach pavilion. Open design home with 4 bedrooms (each with its own bathroom) opening on to a large covered porch. Plunge pool ready for an afternoon dip after returning from the beach. Included with the house is a 20’ boat with 200hp Yamaha engine (and trailer), 6 passenger golf cart, and pickup truck outfitted to carry 8 passengers. Garage on property. BIG ocean and St Thomas views. $1.1M.
Water Island Real EstateWhen looking for real estate on Water Island, contact Chuck who is a very well informed on the history and real estate potential of the island. Chuck has numerous homes and lots for sale priced to fit virtually every buyer. Chuck will pick you up at Crown Bay Marina on St Thomas, bring you to Water Island in his boat, give you an island tour in a golf cart, show you the properties for sale, and return you to St Thomas. With over 14 years of real estate experience on Water Island and having been involved in over 34 completed transactions, Chuck is the agent you want to work with for Water Island Real Estate.
Rare OpportunityRare Opportunity on Water Island. Great view from this unfinished house located in private Sprat Bay Estates portion of Water Island. Sprat Bay has its own boat dock, tennis court and beach pavilion. The unfinished dream house sits on 1 acre and comes with approved plans and building permit. 26,000 gal cistern completed. First floor pad and wall completed (37’ x 37’ footprint). Ready to go up with second floor. $275,000
Approximately 100 homes dot the hills and valleys of Water Island. Most lots and homes offer a view of the ocean and many also have a view of neighboring St. Thomas and Hassel Island. Presently, August 2011, there are 24 listings on the Water Island real estate market.
There are 7 houses currently listed. They range from a 2 bedroom, 2 bath house on a .8 acre lot for $199,000 to a 3 bedroom, 6 bath on 2.01 acres for $3,000,000.
Properties with only a cistern and foundation do become available from time to time. There was one recently on the market, a cistern and slab on a 1 acre lot for $350,000.
There are no condos on the Water Island. Undeveloped land is limited in availability.
Currently there are 17 land lots listed. Lots range from $243,000 for .35 acre to $450,000 for 1.87 acres.
Foreclosures are non-existent on Water Island. Residents, for the most part, own their homes outright. Sale of any property for outstanding taxes is really unheard of on Water Island.
| Month/Year | All Listings | Land | Houses |
|---|---|---|---|
| August 2005 | 8 | 5 | 3 |
| April 2006 | 9 | 6 | 3 |
| September 2006 | 9 | 5 | 4 |
| February 2007 | 17 | 12 | 5 |
| November 2007 | 8 | 4 | 4 |
| September 2008 | 17 | 10 | 7 |
| October 2009 | 20 | 13 | 7 |
| August 2010 | 35 | 25 | 10 |
| August 2011 | 24 | 17 | 7 |
