18 Initial Lane
About This Property
Inside, the split floor plan creates an easy, welcoming flow with luxury LVP and tile throughout. The private primary suite opens directly to the pool for a true resort feel. The kitchen and bathrooms have been tastefully updated, and the home is fully furnished with stainless steel appliances already in place. The seller has elected to add a separate, dedicated laundry room in the main house, while the existing laundry located in the primary suite closet will remain, offering added convenience and flexibility.
A new metal roof in 2025, updated electrical and plumbing, and both electric and gas availability indoors and outdoors provide confidence and convenience.
Step into the backyard and enjoy a resort-style setting, where the pool features water elements, lighting, and an attached spa for relaxing any time of day. A screened outdoor living area with a fireplace creates the perfect space for gathering or unwinding. The outdoor shower, drive-through garage, and ample parking make this home easy to enjoy and easy to host.
Located just minutes from 30A beaches, restaurants, and shops, this solid brick home delivers both lifestyle and long-term value. If you are searching for a strong income producer or a quiet place to call home, you have found it.
Primary laundry is located in the master bath closet. Seller will add a second laundry in the bunk/closet area shown with acceptable offer. Renderings are illustrative only; contractor is lined up.
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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