18671 Sea Turtle Lane
About This Property
Note: excludes fixtures in breakfast area and dining room, hanging stained glass in master bath, and outdoor speakers. Seller will remove and cap fixtures and leave wiring for the speakers. Alarm system is "as is". First floor fifth bedroom is currently used as an office but could easily be converted to a bedroom.
The Shores is a guard-gated community w/clubhouse, fitness center, heated pool & spa, steam rooms, basketball court, children's playroom and fantastic tot lot w/covered play area. Lots of tennis players in the Shores enjoy the four courts. The 860 acre Burt Aaronson South County Regional Park is across from entrance to the community and has amphitheater, nature center, water park, lighted athletic fields, boat launch, dog parks and countless trails to walk and bike. Walk to A-RATED Sunrise Park Elementary & Eagles Landing Middle Schools. Special academies at Olympic Heights High School.
The Shores HOA collects from the buyer a capital contribution equal to one quarter's maintenance fee ($818) at the time of closing.
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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 Shores at Boca Raton
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017