114 78TH STREET
About This Property
The existing structure has been impacted by Hurricane Helene and is ready for its next chapter. For investors, builders, or end users looking to capitalize on a high-demand island market, this is a chance to secure a well-positioned parcel with strong long-term potential.
Holmes Beach continues to see consistent demand driven by its walkability to the beach, access to dining and shopping, and its appeal as both a second-home and income-producing market. Whether your strategy is to renovate, reposition, or build new, the fundamentals here support the investment.
Short distance to the Gulf, close to everything on the island, and situated in an area where quality properties continue to command attention-this is a strategic play in a market where opportunities like this are increasingly limited.
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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 |
|---|---|---|---|
| May 11, 2026 | Sold | ||
| Sold | |||
| Apr 23, 2026 | In contract | - | |
| In contract | |||
| Apr 1, 2026 | Listed by RE/MAX ALLIANCE GROUP | $999,900 | |
| Listed by RE/MAX ALLIANCE GROUP | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017