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1089 Pearson Road
About This Property
The main level showcases a thoughtfully expanded kitchen featuring new cabinetry, countertops, flooring, and appliances, along with a walk-in pantry and a stylish wet bar/beverage center. A newly added laundry room enhances convenience, while custom trim, fresh paint, solid wood interior doors, and updated finishes elevate the home's overall design. The open living spaces flow seamlessly to two screened-in porches-- to two screened-in porches--on both the main and lower levels--where you can take in stunning sunsets over the water.
The spacious primary and guest accommodations are complemented by a versatile lower-level bonus mother-in-law suite, complete with a kitchenette, full bath, and washer/dryer--ideal for guests, extended family, or additional living space. The lower level also includes a 2-car garage with generous storage.
Outdoors, this property truly shines. Enjoy direct waterfront access with a bulkhead, dock, boathouse, and boat lift equipped with electric and water. A walk-in beach area and stone fire pit create the perfect setting for evenings by the bay, while the above-ground saltwater pool with deck and grill area offers a private oasis for relaxing or entertaining. The expansive grounds also feature a new concrete driveway with a pickleball court and two RV sites with full hookups (electric, water, and sewer).
Additional upgrades include conversion from septic to city sewer with a grinder pump system, upgraded electrical service with new meter socket and breaker panels, and enclosure of the first floor for expanded functionality. With no HOA and excellent potential for short-term rental income.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 23, 2026 | Price Decreased |
$895,000
↓ $23K
(2.5%) | |
| Price Decreased | |||
| May 28, 2026 | Price Decreased |
$918,000
↓ $32K
(3.4%) | |
| Price Decreased | |||
| Apr 24, 2026 | Listed by Keller Williams Realty Gulf Coast | $950,000 | |
| Listed by Keller Williams Realty Gulf Coast | |||
| Mar 23, 2022 | Sold | ||
| Sold | |||
| Feb 4, 2022 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017