1110 CARMELLA CIRCLE
About This Property
Both bathrooms are tastefully updated, and off the dining room is a door that opens to a screened lanai overlooking a fully fenced backyard - the kind of space that turns "I'll just sit outside for a minute" into two hours and a second glass of wine. And don't forget the hurricane impact windows that help keep you safe during the storms and an AC and duct work that was updated in 2022.
Now the location, because this is where things get almost unfair. SRQ Airport is minutes away - you'll arrive for flights so relaxed TSA agents will think something's off. UTC is 10 minutes up the road, Downtown Sarasota is 15, and Lido Beach is 20 minutes when you need sand between your toes.
At this price point, buyers have options. Few of those options come with this address, this kitchen, and this much screened lanai energy. Schedule your showing before someone with better reflexes beats you to it.
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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