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Water Island, located within St. Thomas' Charlotte Amalie harbor, is a
491.5 acre treasure. The small population of fewer then 200 full and part
time residents enjoy the tranquility 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.
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, November 2007, there are 8 listings on the Water Island real estate market.
There are 4 houses currently listed. They range from a 3 bedroom, 2 bath house on a 1 acre lot for $585,000 and a 4 bedroom, 3 bath on .70 acres for $675,000 to a 3 bedroom, 3 bathroom on 2.01 acres for 5.2 million. A 3 bedroom, 3 bath house on .73 acres is listed at $695,000. Visit the featured house for sale above.
 Properties with only a cistern and foundation do become available from time to time.
There are no condos on the Water Island. Undeveloped land is limited in
availability.
Currently there are 4 land lots listed. Lots range from $299,000 for 1 acre in Sprat Bay to $650,000 for a 2.72 acre waterfront lot. A second waterfront lot (1.87 acres) is available for $625,000. Waterfront property is very hard to find and beachfront property is nearly nonexistent.
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.
Note: This section is
dated November 2007; prices, property estimates and numbers reflect
the market at the time this section was updated. Information is believed to be accurate but is not
guaranteed.
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