118 Marlin Drive
About This Property
Whether it's a boating lifestyle or carefree entertaining, this 5600-SF three-story, 5/BR-5/BA home is a perfect choice for your south Florida lifestyle.
You'll be thrilled with the look and feel of the home's expansive open floor plan with porcelain flooring, high volume and vaulted tongue-in-groove wood ceilings all bathed in fabulous natural light with incredible waterfront views throughout the main level.
Entertaining is easy in the family room or the living room which incorporates a unique conversation pit with built-in seating in a lower section of the room with a wood burning fireplace, for added ambiance. Adjacent to the living room is a separate library/office suite with an expansive built-in bookcase imported from Spain, wood beamed ceiling, natural light through large windows that provide incredible exterior views.
The gourmet kitchen features a large center island prep and cooking area, beautiful natural quartzite countertops, custom tile backsplash, state of the art appliances, and solid wood custom cabinetry.
A family dining area is next to the kitchen where you can have casual meals and enjoy views of the patio, pool, and waterway. The large formal dining area is just a few steps from the kitchen, with access to the fabulous nearby wet bar.
The second level of the home has beautiful wood flooring throughout, and the master bedroom has vaulted wood ceilings, a large sitting area, direct walkout access to the balcony level patio overlooking the pool and Intracoastal Waterway, large walk-in closets, and a custom spiral staircase, one of four ways to access to the third floor.
The ensuite bath features dual sinks, a large Jacuzzi tub, separate walk-in shower, as well as direct access to balcony level patio.
The custom pool with spa is surrounded by composite decking and a beautiful fence. For the yachtsman in the family, this property includes 60 feet of dock and deep waterfront that can accommodate up to an 80-foot vessel. Includes an automatic boat lift for up to a 30-foot boat. The nearby Boynton Beach Inlet provides easy ocean access.
In addition to living in the quiet, secure, upscale community of Ocean Ridge, you're just a few minutes' drive from world class fine dining and shopping in nearby Boca Raton and along Worth Avenue in prestigious Palm Beach, and the Palm Beach International Airport is a short drive from your luxury 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.
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About Mc Cormick Mile
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017