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1026 NW 16th Street
About This Property
The Florida room, cooled by central A/C, makes a perfect breakfast nook, office, or cozy den. The converted garage-with its own central A/C and full bathroom-provides endless possibilities: use it as a guest suite, home office, 3rd bedroom, or potential income-producing efficiency. Prefer parking? It can easily be converted back into a garage.
The large fenced backyard features a powered storage shed and double-gate is ideal for parking your RV or boat.
Palm Lake Park is one of Martin County's best-kept secrets. A quiet, centrally located community surrounding a scenic lake. Perfectly situated between the US-1 corridor and North River Shores/St. Lucie River, you'll enjoy easy access to shopping, dining, boating and the beautiful public beaches.
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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.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017