Set on five fully fenced acres in the gated equestrian community of
Deer Run, this custom concrete block home and equestrian property
was thoughtfully designed for both everyday living and serious
horse use. Built in 2015, the home offers three bedrooms, three
bathrooms, a dedicated office and a large downstairs bonus room,
with both additional spaces easily converted to bedrooms if needed.
The layout is incredibly functional, with generous room sizes,
defined living spaces and excellent storage throughout. Upstairs,
the split bedroom floor plan includes an oversized primary suite
with tray ceilings, beautiful pasture views, a large walk-in closet
and modern bath with soaking tub. Two generously sized secondary
bedrooms share a large bathroom, and the open landing provides
additional loft space for a reading nook or sitting area.
Everything in the home was custom selected, including solid wood,
soft close kitchen cabinetry, granite countertops and low-tox,
no-VOC paint, carpet and carpet underlay. Additional features
include laminate and porcelain tile flooring, a reverse osmosis
water system and 400-amp electrical service set up to accommodate
future expansion. The home has a covered front porch with swing,
formal entry, three-car garage with a dedicated workshop between
the two-car and single-car bays, and a screened rear patio.
The pool was added in 2018 and includes a large paver deck
and outdoor fireplace overlooking the riding arena and back
pasture. Beyond the property is the L-8 Canal and White Fences, so
there are no homes directly behind you. The property also has a
chicken coop and run, RV parking and plenty of usable space for
future additions. The equestrian setup includes two pastures,
a riding arena and a 60' x 40' six-stall barn with two wash racks,
drainage, a 12' x 14' tack room, 10' x 10' hay/feed room and hookup
for a future bathroom. An additional area has a concrete pad that
could be enclosed for future living space. A concrete transition
into the barn pavers allows tractors and equipment to move in and
out without damaging the pavers, and there is ample parking around
the barn for a potential training or income-producing operation.
Deer Run also allows covered riding arenas, giving you the
option to expand the existing setup. The full five acres are
fenced, with an additional fully fenced approximately two-acre
perimeter around the home. Deer Run residents have access to
approximately 22 miles of dedicated riding easements and trails and
are zoned for Wellington's A-rated schools. The property has
beautiful sunset and nature views, abundant wildlife and even a
bald eagle that regularly nests on the neighboring property.
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.
Interior Features: Central Vacuum, Entrance Foyer, High Ceilings, Kitchen Island, Pantry, Storage, Soaking Tub, Walk-In Closet(s), BreakfastArea, Bathtub, DiningArea, SeparateFormalDiningRoom, DualSinks, JettedTub, KitchenDiningCombo, LivingDiningRoom, SplitBedrooms, SeparateShower, UpperLevelPrimary
Appliances: Cooktop, Dishwasher, Electric Cooktop, Electric Range, Electric Water Heater, Freezer, Disposal, Microwave, Oven, Water Purifier Owned, Refrigerator, Water Softener Owned, Water Softener, Water Heater, Water Purifier, Washer
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