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118-07 Beach Channel Drive
About This Property
The first-floor unit features two spacious bedrooms, a newly renovated kitchen, an updated full bathroom, and beautiful views of the NYC skyline. The second and third floors are configured as a duplex, with the second floor offering two additional bedrooms, a full kitchen and bath, a charming fireplace, and a large private balcony-perfect for enjoying the ocean breeze. The top floor serves as a private primary suite, complete with multiple closets, a full en-suite bathroom, and its own washer.
This home includes a private driveway with parking for multiple vehicles, a detached two-car garage, and a full-height basement with ceilings over seven feet tall. The basement also features a washer/dryer hookup for added convenience. The mechanicals have been well maintained, with boilers that are only a few years old and recently installed indirect water heaters, offering both efficiency and peace of mind.
The backyard offers ample space for entertaining, gardening, or relaxing after a day at the beach. The property will be delivered vacant at closing, offering a seamless opportunity for immediate occupancy or rental setup. Ideally located just minutes from the shoreline, public transportation, and some of the best dining Rockaway has to offer, this home combines the best of beachside living with city convenience.
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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 16, 2026 | In contract | - | |
| In contract | |||
| Mar 5, 2026 | Price Decreased |
$1,200,000
↓ $50K
(4%) | |
| Price Decreased | |||
| Feb 6, 2026 | Price Decreased |
$1,249,999
↓ $50K
(3.9%) | |
| Price Decreased | |||
| Jan 8, 2026 | Price Decreased |
$1,299,999
↓ $50K
(3.7%) | |
| Price Decreased | |||
| Oct 10, 2025 | Price Decreased |
$1,350,000
↓ $50K
(3.6%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017