1406 DECLARATION Drive
About This Property
For outdoor enthusiasts, the private fenced yard offers ample space for outdoor barbeque gatherings. Room for a pool! The small dock can be reinforced and used for water sports, fishing or relaxing. Lakefront residents enjoy kayaking and paddle boating or some simply float lazily on the calm waters. One special part of lake living is having a flock of long-necked White Cranes as neighbors. They've nested at the south end of the lake for many years. Cranes can live up to 30 years. It's truly a spectacle to witness them strutting around the neighborhood!
Constitution Cove is a tree-filled neighborhood with meandering streets and sidewalks with mostly brick homes on oversized lots. There is no home owner's association and there are no fees or rules/regulations. You are located just over one-mile to the sea. It has an easy work commute with a Butler Blvd entrance adjacent to the neighborhood. Walk/Bike to the nearby recently re-designed and re-constructed South Beach/Sunshine Park. Includes new skate park, tennis, volleyball, pickleball, basketball, splash pad and interactive playground. Nearby dining options includes Bonefish Grill, SoNapa Grille & The Bearded Pig. Shop nearby for groceries at Whole Foods, Trader Joes & Publix. Also close by is Target, Home Depot, Ross, Home Goods and the new Nordstrom Rack (opening soon).
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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 Beaches
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017