18712 Ocean Mist Drive
About This Property
**One end of the kitchen cabinetry serves as a buffet or bar area with elegant glass-front cabinets above the granite counter top and spacious cabinets below.
**Beautiful wood floors in the master and two guest bedrooms, closets galore including large separate fitted closets in master suite.
** All main living areas have beautiful porcelain tile floors.
**Fourth bedroom, off the living room, is currently used as a den/office and has a large window to fill the room with light. It has porcelain tile floors.
**For your peace of mind, there are "Low E" hurricane impact glass front windows and "Low E" impact glass sliding doors on the Sun Room. There are accordion shutters on ALL other windows.
**New ADT Alarm system was installed in 2016.
**New Hot Water Heater 2016
**Other special features are central vacuum system, sprinkler system that has a lake-fed pump; solid core interior doors, dramatic 12 foot volume ceilings with large transom windows.
** Walk to A-RATED Sunrise Park Elementary and Eagles Landing Middle Schools. Check out all the special ACADEMIES at A-Rated Olympic Heights High School.
**The Shores at Boca Raton is a guard-gated community w/clubhouse, state-of-the-art fitness center, heated pool & spa, basketball court, children's playroom and recently expanded tot lot w/covered play area. Lots of tennis players in the Shores enjoy the four courts. Regular program of tennis lessons is available on-site.
**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. Shores golfers enjoy the nearby Osprey Point 27 Hole Golf Course. The Shores HOA is fiscally prudent with reserves and an excellent balance sheet.
**At closing, Buyers make a one-time Capital Contribution to the HOA reserves equal to one-quarter's maintenance. The Shores is spending $400,000 on a brand new front entry with a beautiful water feature. There is $187.50 remaining on the special assessment that must be paid at closing.
**The Shores HOA permits renting in the first year of ownership for a minimum of 365 days and it permits residents to have a maximum of two pets (any size).
**All Shores Buyers must put down a minimum of 10% if they are obtaining financing.
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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