16333 GULF BOULEVARD #106
About This Property
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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 |
|---|---|---|---|
| May 23, 2025 | Sold | ||
| Sold | |||
| May 2, 2025 | In contract | - | |
| In contract | |||
| Mar 23, 2025 | Listed | $185,000 | |
| Listed | |||
| | |||
|
Don’t Miss This Rare Income Opportunity! Units 105, 106, and 108 are available for purchase with strong short term rental history. Acquire all three units and enjoy the benefits of generating rental income across multiple properties in the same location for ease of management. Welcome to Royal Orleans, a charming mid-sized community that’s perfect for beach getaways. This community allows short-term rentals (Airbnb, VRBO, STR) and is ideally located just steps from the beach, making it a popular vacation destination. The property boasts a beautifully designed courtyard featuring a heated pool, a spacious sun deck, shaded lounging areas, and a BBQ grill perfect for relaxing or entertaining. Adjacent to Royal Orleans is a city park with playgrounds, basketball courts, picnic spots, and more. Plus, you’ll be just minutes from incredible restaurants and convenient shopping options. Although the first level sustained hurricane damage during Hurricane Helene, restoration is already in progress. All drywall and contents have been removed, and the association is actively advancing the rebuilding process under the insurance policy to bring the spaces back to their full charm. New owners can select the finishes. With Royal Orleans exempt from the Structural Milestone Inspection, this is a rare investment opportunity. Whether you’re seeking a personal retreat or a future income-generating rental property, this condo offers unmatched value for its location and amenities. Rental history available.
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| Feb 4, 2025 | Listed by TOMLIN, ST CYR & ASSOCIATES LLC | $185,000 | |
| Listed by TOMLIN, ST CYR & ASSOCIATES LLC | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
04/02/2026
|
1 Bed
|
1 Bath
|
525 ft²
|
$336,000
1 Bed
1 Bath
525 ft²
|
$300,000
-10.71%
09/14/2026
|
Lindsey Van Deilen
INNOVATE REAL ESTATE, LLC
| |
|
02/04/2025
|
Studio
|
1 Bath
|
340 ft²
|
$185,000
Studio
1 Bath
340 ft²
|
$180,000
-2.70%
08/22/2025
|
Stephanie Brown
TOMLIN, ST CYR & ASSOCIATES LLC
| |
|
02/04/2025
|
1 Bed
|
1 Bath
|
340 ft²
|
$185,000
1 Bed
1 Bath
340 ft²
|
$175,000
-5.41%
05/23/2025
|
Stephanie Brown
TOMLIN, ST CYR & ASSOCIATES LLC
| |
|
02/04/2025
|
1 Bed
|
1 Bath
|
360 ft²
|
$195,000
1 Bed
1 Bath
360 ft²
|
$175,000
-10.26%
05/09/2025
|
Stephanie Brown
TOMLIN, ST CYR & ASSOCIATES LLC
| |
|
12/03/2024
|
1 Bed
|
1 Bath
|
555 ft²
|
$185,000
1 Bed
1 Bath
555 ft²
|
$149,000
-19.46%
01/10/2025
|
Elle Schwandt, LLC
THE SEASIDE REAL ESTATE STORE
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017