1611 Hidden Palms DRIVE
About This Property
The estate is an expansive 11.89-acre property with a private gate that ensures utmost privacy. The surroundings feature lush greenery and serene landscapes, offering a tranquil retreat from the hustle and bustle of city. Upon entering, the grand foyer makes a statement with its elegant tray ceilings, Mediterranean iron front Door setting the tone for the rest of the home. The ceilings in the home soar to an impressive 13 feet, creating a sense of openness and grandeur throughout the living spaces.This luxurious home features 3 spacious bedrooms, each offering comfort and privacy for residents and guests. The 3 stylishly appointed baths provide convenience and elegance, with modern fixtures and fittings.
The study room features coffered ceilings, adding a touch of sophistication to the space. The primary suite offers tray ceilings as well with breathtaking views, providing a tranquil and picturesque retreat within the estate. The spacious great room offers a versatile and inviting area for relaxation and entertainment, with ample natural light and a seamless flow from indoors to outdoors. The formal dining room exudes sophistication and charm, creating the perfect setting for intimate meals and elegant gatherings, making it an exquisite space for hosting memorable dining experiences. This comprehensive description highlights the key features of the property, offering a glimpse of its luxurious amenities and inviting living spaces, providing a comfortable and inviting living space for you and your family.
The lanai is adorned with a cozy fireplace, creating a perfect ambiance for relaxation and outdoor gatherings. Its serene views offer a picturesque backdrop for leisurely moments and entertaining guests. The estate is zoned for equestrian use, opening up a world of possibilities for horse enthusiasts and those looking to explore equestrian activities. The property is equipped with two tankless water heaters, two AC units, and a house generator, ensuring modern comfort and convenience. The refrigerator and washer/dryer were all purchased in 2023, providing the latest in appliance technology. The well and water softener system have been upgraded, enhancing the quality of the water supply. Additionally, the property offers access to Frontier fiber optic and Antenna TV/Direct TV for modern connectivity and entertainment options.
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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 |
|---|---|---|---|
| Apr 9, 2024 | Sold | ||
| Sold | |||
| Mar 13, 2024 | In contract | - | |
| In contract | |||
| Mar 2, 2024 | Relisted | $1,100,000 | |
| Relisted | |||
| Feb 25, 2024 | In contract | - | |
| In contract | |||
| Feb 14, 2024 | Listed by ELITE REALTY, LLC | $1,100,000 | |
| Listed by ELITE REALTY, LLC | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017