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201 3rd Avenue
About This Property
Experience the ultimate in sophistication, and coastal living in this stunning custom estate, located just 40 steps from the beach. Built in 2017 with full impact-rated construction, this meticulously crafted 3,630-square-foot main residence blends modern durability with high-end designer finishes. The spacious, light-filled floor plan offers expansive living areas, generous room sizes, and exceptional spaces for both everyday living and entertaining. Adding versatility is a separate 400 SF accessory dwelling unit (ADU) complete with a full bath and easily adaptable for a kitchen installation, ideal as a guest house, mother-in-law suite, or legal rental. A rare multifamily-zoned lot, the property offers outstanding flexibility with room for future expansion. A secure 150 St walled perimeter provides privacy, while a secondary driveway for additional parking and or boat storage. Golf cart everywhere and enjoy the Melbourne Beach lifestyle!
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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 Melbourne Beach
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
$2,300 /mo
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- 1 Bath
- 580 ft²
$4,800 /mo
- 3 Beds
- 2 Baths
- 1,991 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017