11361 Ohanu Circle
About This Property
* AC 2016
* Accordion shutters for hurricane protection
* Roof 2000
* You will NEVER be bored living here! There's a beautifully renovated & modernized clubhouse, theater/ballroom, fitness center/health club, aerobics studio, 2 card rooms, billiard room, conference room, arts & crafts studio, MANY social clubs, multiple art classes, events/shows/concerts, a bistro, resort style pool, lap pool, hot tub, 7 tennis courts, pickleball, shuffleboard & walking paths.
* Quarterly HOA Fee includes TWO 24 hour manned gated entrances, lawn & landscape maintenance, lushly landscaped common areas + 16 lakes, sprinkler system & irrigation, cable & internet, home security monitoring, trash & recycling, house painting and roof cleaning.
* Pets are allowed with the following "restrictions": Pit Bulls/American Staffordshire Terriers are specifically prohibited. Total of 3 pets combined (any combination of dogs or cats). No size limit.
* Rental policies: New owners must wait 18 months before being allowed to rent. Minimum lease term is 7 consecutive months within a 12 month period. See attached Rules and Regs for more details.
* Association approval is required. $195 application fee. Allow up to 30 days for approval.
* Capital contribution of $2,072 due from Buyer at closing.
* Taxes currently reflect Homestead Exemption for 2021. There will NOT be Homestead Exemption for 2022.
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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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About Valencia Isles
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017