116 LEANING TREE Drive
About This Property
Designed for year-round outdoor living and entertaining, with a screen enclosure, covered seating, a summer kitchen, and a heated saltwater pool and spa with fire features and ambient lighting.
Steps from the pool is a guest casita with two separate entrances. Inside finds a living room, kitchenette, guest bedroom, built-in bunkbeds, a full bath, and laundry, making this space ideal for any family.
Inside the main house, you'll find an open floor plan flooded with natural light. The spacious family room showcases a soaring 20-foot ceiling, a collapsing slider door, second-story transom windows, and a floor-to-ceiling fireplace.
(Cont) The chef's kitchen boasts quartz countertops, a 10' island breakfast bar, a six burner gas range w/ double ovens & an eat-in breakfast nook with a built-in sideboard.
This well-thought-out floor plan includes a downstairs primary suite and a study with a two-story open ceiling, a built-in desk & cabinet towers for additional storage.
An eye-catching cable staircase leads to 3 additional bedrooms, each with en-suite baths & walk-in closets. Barn doors open to an upstairs flex space, ideal for a playroom or an extra office. Up one more level finds a space perfect for a studio or reading nook with built-in bench seating and windows on each surrounding wall.
Luxury finishes run throughout, including designer lighting, decorative paneling, 8-foot doors, built-in cabinetry, smooth walls and ceilings, cased doors & windows, textured wallpaper and plantation shutters to name a few.
There's a whole house generator, a well for irrigation & a separate one-car garage with a mini-split, ideal for a gym or additional work space.
Surrounded by natural landscape and towering oaks, this spacious lot affords ample privacy on a quiet street with only nine homes.
Located in the sought-after gated community of Palencia, residents enjoy a fitness center, three community pools, lighted clay tennis courts, pickleball courts, sports fields, fitness trails, and a boardwalk leading to the Intracoastal. There's an A-rated Elementary school in the neighborhood and a championship Arthur Hills-designed golf course. This community is the perfect place to call home.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017