20016 Castlemaine Avenue
About This Property
The home has been thoughtfully updated throughout. Newer windows enhance energy efficiency, reduce exterior noise, and showcase the water views with exceptional clarity. Tile flooring runs throughout the main living areas, complemented by engineered hardwood in both bedrooms and den -no carpet anywhere. The primary suite is a true retreat, featuring bay windows overlooking the lake, custom closet systems, and a beautifully renovated bath with dual vanities and an oversized custom glass shower.
The kitchen has been renovated by Cornerstone Custom Kitchens and features solid wood cabinetry with soft-close drawers, updated lighting, and a layout designed for both function and flow. An expanded and redesigned laundry room adds meaningful utility with additional storage, a sink, and striking dolomite natural stone finishes. Sunburst 4-inch plantation shutters, 5¼-inch baseboards, upgraded molding, premium fans and fixtures, integrated hurricane shutters, and thoughtful storage solutions further elevate the home's fit and finish.
Additional highlights include fresh exterior paint completed in 2025, upgraded landscaping with stone-trim edging, and a garage equipped with pull-down attic stairs and overhead storage racks for excellent organization.
Ideally located just steps from the residents' walking path with direct access to the amenity center. Residents of Cascades at Estero enjoy a vibrant, resort-style 55+ lifestyle anchored by a recently renovated clubhouse featuring a grand ballroom, state-of-the-art fitness center, tennis, pickleball, bocce, billiards room, and arts and crafts studio, all with some of the lowest HOA fees in the area, which include cable/internet, ADT security, and more! Located in the heart of Estero, Cascades provides easy access to Coconut Point Mall, Gulf Coast Town Center, Miromar Outlets, Southwest Florida International Airport, and some of Southwest Florida's most beautiful beaches.
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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%.
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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 Estero
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017