Rare barrier island renovation opportunity in Terra Mar Island
Estates, Pompano Beach, FL. This corner-lot, 3-bedroom, 3-bathroom
pool home offers approximately 3,000 sq ft of living space, with a
spacious family room and a separate den, far more indoor space than
most beachside homes in Broward County. Bring your vision and
redesign it in one of the most desirable beachside neighborhoods
between Pompano Beach and Lauderdale-by-the-Sea. The backyard is a
private tropical retreat with a saltwater pool with decorative
jets, a tiki hut, a spacious paved patio, and lush mature
landscaping. The corner lot adds privacy, curb appeal, and extra
outdoor space. Terra Mar Island Estates has a true
neighborhood feel with gated access, upscale homes, proximity to
the beach, and the executive airport. Residents have access to the
beach nearby via 2 public accesses and a voluntary, $50/year HOA.
Ideal fit for an owner-occupant or investor who wants to renovate a
large Fort Lauderdale-area beachside home with a pool and tiki
area. Schedule your private showing today.
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.
Appliances: Cooktop, Dryer, Dishwasher, Electric Cooktop, Electric Range, Electric Water Heater, Ice Maker, Microwave, Refrigerator, Water Heater, Washer
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