How many days make an annual pass worth it?

I thought I had heard 11 days...but I look at the 10 day price and thats only $262, right? Versus $500 for an annual pass? So wouldn't it be be better to get 11 days? (though I see there is no 11 day pass - I assume would be 10 day, then back to a 1 day? how would that work?)

Can someone straighten me out?

(I should add that we would not be park hopping, nor would we use any of the water parks)