1220 Shipley Drive
About This Property
As you move from the formal dining and livi This executive, custom brick home features a beautifully balanced, open concept, split bedroom floor plan you will love. As you enter you will feel welcomed by the spacious foyer opening to the formal living and dining areas that immediately introduce you to the bespoke architectural details that make this home special. The twelve foot ceilings accented with crown molding give your mind plenty of room to wander while you read a novel by the light of the afternoon sun pouring in through the sliding glass doors overlooking your poolf from the formal living room. The room also provides the volume to let your family's laughter resonate, reverberating off the hard wood floors, while enjoying a special meal in the dining room.
As you move from the formal dining and living areas into the kitchen and breakfast area you'll notice the transoms over the entryways that allow air, and the smell of that special breakfast, to waft throughout the home. Again, natural light prevails in the breakfast area thanks to the large windows. The kitchen features a large wrap around bar perfect for the kids to do their homework while you prepare dinner or setting up a buffet for your guests while entertaining. Additional features in the kitchen include ample prep space on your Corian countertops, solid wood cabinets with pots and pan drawer, a flush mount glass top range, stainless steel appliances, built in wine rack, and glass front cabinets hung over a computer area providing easy access to your favorite online recipes. Just off of the kitchen is the large laundry room and garage access making bring in the groceries a breeze. This kitchen is a dream to cook in but is made even better by the bright recessed lighting over all of the work spaces.
Your gaze will continue beyond the lighting to the coffered ceiling that extends all the way into the family room highlighted by an exquisitely trimmed gas fireplace that comes to life with the flick of a switch. You will also find the entertainment hub of the home in the family room with connections for a projector and the whole house speaker system. Rest assured, you will have the best Super Bowl party recipe at your fingertips.
When the fun is done and it's time for bed, you will love stepping onto the hand scraped mahogany floors of the master bedroom. And, when you awake the next morning you will have the option of stepping out of your master bedroom onto the tiled, covered patio leading to the pool surrounded by palm trees for a refreshing dip; or into the lavish master bathroom for a soak in your whirlpool tub or pop into the extra large shower and let the steam build as you prepare for the day ahead. You don't have to worry about running into anyone as you get ready thanks to a double vanity with dressing table and large walk in closet. Across the house, located off the family room, the additional bedrooms feature the same hand scraped mahogany floors with a shared bathroom also featuring a double vanity. The rooms are separated by a hallway made private by a pocket door with a transom above. The bonus room located off the formal living area, currently being used as a fourth bedroom, also shares the mahogany floors of the other bedrooms and has its own private bath with a walk-in shower.
The balance of this home is not restricted to the thoughtfulness of it's design and amenities but in it's location as well. Located in Bristol Village at Raintree Estates it provides convenient access to Eglin AFB, Bluewater Bay Elementary, Ruckel or Destin Middle Schools, Niceville High School, and the finest shopping and dining the Emerald Coast has to offer. Additionally, the home is juxtaposed to the Raintree Estates park and nature trails and has it's own private entrance from the back yard. And, just a short walk away is the Raintree Estates private bay front park from which you can fish for speckled trout and redfish or launch a kayak or paddle board and enjoy the beautiful outdoors. This home is not to be missed.
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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