119 Dreama DRIVE
About This Property
Polo Park East is an age 55+ Resident Owned Cooperative (Co-op) Community. The price of the home includes 1 share of the community ownership valued at $65,400). When you are a shareholder there is no lot rent to pay. The HOA fee for this property is $187.00 every month which includes Lawn Cutting and Edging, DIRECTV STREAM Cable and Frontier Fiber Optic High Speed WIFI.
The clubhouse features an exercise room, library, billiard room and large hall with full kitchen (available to rent for private parties) where loads of community activities take place including Bingo half the year on Thursday nights and community holiday parties. Golf carts ok in community to drive on roads. Come live in this well sought after community and also enjoy the beautiful picturesque lakefront with 2 boat docks and picnic area.
Well maintained and nicely landscaped 2br 2bth double wide manufactured home with a lovely lanai that looks across the road to the beautiful golf course. Roof is 7 years old A/C unit 9 years old, windows updated with transferable warranty. Driveway was recently resurfaced, leaf guard gutters and large shed for storage. Indoor laundry room.
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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 |
|---|---|---|---|
| Jan 29, 2025 | Sold | ||
| Sold | |||
| Dec 24, 2024 | In contract | - | |
| In contract | |||
| Nov 18, 2024 | Price Decreased |
$182,500
↓ $17K
(8.3%) | |
| Price Decreased | |||
| Jul 30, 2024 | Listed by REAL BROKER, LLC | $199,000 | |
| Listed by REAL BROKER, LLC | |||
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About Citrus Ridge
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017