118 Monarch Bay Drive
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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 |
|---|---|---|---|
| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
| Jun 4, 2020 | In contract | - | |
| In contract | |||
| Apr 30, 2020 | Price Increased |
$5,495,000
↑ $500K
(10%) | |
| Price Increased | |||
| Mar 23, 2020 | Price Decreased |
$4,995,000
↓ $2M
(32.4%) | |
| Price Decreased | |||
| Mar 5, 2020 | Listed | $7,390,000 | |
| Listed | |||
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Truly an absolutely extraordinary opportunity to own a "soft-contemporary" custom built, Catalina and Ocean view 5,000 sq ft residence located within the exclusive 24 hr guard gated ocean front community of Monarch Bay! Rarely does this become available! This 4 bedroom, office, 4.5 bath, 1 level home boasts an additional 500 sq ft covered loggia as well as a 500 sq ft viewing deck! Other amenities include European oak wood flooring, 3 fireplaces, outdoor fire pit, 10 ft ceilings, wine room and bar area, central air conditioning, elevator, an incredible "pocket door" system, main level laundry room, a metal and glass custom entry door system. Kitchen contains handcrafted cabinetry, Miele professional appliances, upgraded Kolher fixtures, & marble slab center island, an exceptional "ocean view' master suite w/fire place, free standing hydro-system, and an over sized walk-in closet as well as patio access. Ghost style ceiling speakers, Modern Day-Silent Master central vacuum system, tank-less water heaters, professionally designed security and fire sprinklers throughout. Subterranean garage with parking capacity with 6 cars and BDC Epoxy systems floor coating and elevator access. This custom residence is scheduled for a September 2020 completion. Membership to the Monarch Bay Club, (only minutes away) one of the only exclusive Beach Clubs in California! Walk to the Ritz Carlton and the World Renowned Salt Creek Beach! An opportunity like this is seldom available in Monarch Bay! The manager has listed the unit size as 5000 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017